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2 Jun 2026, 11:51
MoneyGram launches MGUSD stablecoin on Stellar to power own network
MoneyGram, the popular global payment platform, has on Tuesday announced the launch of MGUSD, a stablecoin pegged to the U.S. dollar built on the Stellar blockchain. This new stablecoin product would make digital dollar available on its app initially for US customers, with plans to expand to its global 60 million users. The MGUSD token gives MoneyGram customers a wallet balance inside the company’s existing app, allowing the holding and transfer of USD through MoneyGram’s wide network of 500,000 retail locations worldwide. MoneyGram’s partners for MGUSD The newly launched stablecoin has been built with help from three major infrastructural partners. Bridge would be the MGUSD stablecoin’s issuer, a stablecoin platform Stripe acquired in February 2025. The smart contracts handling the minting of the stablecoin were written by M0, while Fireblocks provides the wallet layer in the MoneyGram app. “Starting with our distribution platform, we’re using stablecoin as a foundation to build future applications on our global network,” MoneyGram chairman and CEO Anthony Soohoo said in a statement . “MGUSD is the stablecoin we built for our customers, for the families sending money home and for the billions of people around the world with limited financial access.” MoneyGram picking Stellar as the blockchain of choice is also unsurprising, as the company has worked with the Stellar Development Foundation on stablecoin-powered remittance services for almost five years. Stellar Development Foundation CEO Denelle Dixon called the launch “the next milestone that demonstrates what purpose-built blockchain can deliver when paired with a trusted payments network.” More stablecoins, more products MoneyGram joins a widening group of payment companies and banks racing to wrap stablecoins into their existing products. SoFi recently unveiled its own stablecoin, SoFiUSD. PayPal and Western Union have both partnered with crypto infrastructure firms (Paxos and Anchorage Digital, respectively) to offer stablecoin services. This recent uptick makes a lot of logical sense. Blockchain-based digital dollar tokens help to cut costs and are settled at record-fast time, 24/7, compared to traditional banking. Citi has projected the stablecoin market could grow from roughly $300 billion today to $4 trillion by 2030. MoneyGram’s angle differs slightly from pure fintech plays. The company already operates one of the world’s largest physical cash-in, cash-out networks. Pairing that with a stablecoin could empower its users to move value digitally and still withdraw cash at a local agent, offering a feature that purely digital stablecoin products do not have access to. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .
2 Jun 2026, 11:50
HIVE Digital slips as decline in bitcoin price hits FQ4 revenue
More on HIVE Digital Technologies Ltd. HIVE Digital Technologies: From Bitcoin Miner To AI Infrastructure HIVE Digital Pivoting Deeper Into HPC And Robotics For Long-Term Growth HIVE Digital Technologies reports Q4 results HIVE Digital stock surges as subsidiary plans high-capacity data center in Ontario Historical earnings data for HIVE Digital Technologies Ltd.
2 Jun 2026, 11:45
BlackRock Moves $97M in Bitcoin and Ethereum to Coinbase in Largest Institutional Transfer This Quarter
BitcoinWorld BlackRock Moves $97M in Bitcoin and Ethereum to Coinbase in Largest Institutional Transfer This Quarter BlackRock, the world’s largest asset manager with over $10 trillion in assets under management, has transferred significant amounts of Bitcoin and Ethereum to Coinbase, according to blockchain analytics firm Onchain Lens. The deposits include 900 Bitcoin worth approximately $62.55 million and 17,511 Ethereum valued at $34.57 million, totaling nearly $97 million in digital assets. Details of the Transfer Onchain Lens reported the transactions on February 19, 2025, noting that the funds were moved from wallets associated with BlackRock to Coinbase, one of the largest cryptocurrency exchanges in the United States. The Bitcoin transfer of 900 BTC was executed at a price of approximately $69,500 per coin, while the Ethereum transfer of 17,511 ETH was valued at around $1,975 per token. These deposits represent some of the largest single institutional transfers to an exchange this quarter, signaling continued activity from major financial players in the digital asset space. BlackRock has been a prominent institutional investor in cryptocurrencies, particularly through its spot Bitcoin exchange-traded fund (ETF) launched in January 2024. Implications for the Crypto Market Large deposits to exchanges are often interpreted by market participants as potential precursors to selling, as funds moved to trading platforms can be more easily liquidated. However, institutional transfers may also serve operational purposes such as rebalancing portfolios, providing liquidity for ETF share creations or redemptions, or preparing for new product offerings. BlackRock’s continued involvement in the crypto space has been a significant driver of mainstream adoption and market stability. The firm’s spot Bitcoin ETF, the iShares Bitcoin Trust (IBIT), has accumulated billions in assets since its launch, attracting both retail and institutional investors. Broader Institutional Context The transfer comes amid a period of renewed institutional interest in digital assets. Several major financial institutions have expanded their crypto offerings in recent months, including the launch of spot Ethereum ETFs by multiple asset managers in mid-2024. BlackRock itself filed for a spot Ethereum ETF in November 2023, which was approved by the SEC in May 2024. Market analysts note that institutional flows into and out of exchanges can have outsized impacts on price movements due to the large volumes involved. However, the overall trend remains positive for crypto adoption, with traditional finance giants increasingly integrating digital assets into their product suites. Conclusion BlackRock’s $97 million deposit of Bitcoin and Ethereum to Coinbase underscores the asset manager’s active participation in the cryptocurrency market. While the specific purpose of the transfer remains undisclosed, it highlights the growing normalization of digital assets within institutional portfolios. Investors and market observers will continue to monitor such moves for signals about broader market trends and institutional sentiment. FAQs Q1: Why did BlackRock transfer Bitcoin and Ethereum to Coinbase? A1: The specific reason has not been disclosed by BlackRock. Possible explanations include preparing for ETF share creations or redemptions, rebalancing its crypto portfolio, or providing liquidity for institutional clients. Transfers to exchanges do not necessarily indicate an intent to sell. Q2: How much Bitcoin and Ethereum did BlackRock move? A2: According to Onchain Lens, BlackRock deposited 900 Bitcoin (worth $62.55 million) and 17,511 Ethereum (worth $34.57 million), for a combined total of approximately $97.12 million. Q3: Does this transfer affect the price of Bitcoin or Ethereum? A3: Large transfers to exchanges can create short-term selling pressure if the assets are liquidated. However, institutional transfers are often pre-arranged and may not directly impact market prices. The market reaction depends on broader sentiment and whether the funds are actually sold or simply moved for operational reasons. This post BlackRock Moves $97M in Bitcoin and Ethereum to Coinbase in Largest Institutional Transfer This Quarter first appeared on BitcoinWorld .
2 Jun 2026, 11:43
$110 billion erased from crypto market cap in 24 hours
Digital assets are experiencing deep sell-offs, with the overall crypto market cap crashing 4.5% and losing $110 billion over the 24 hours leading up to press time on June 2, 2026. Specifically, the cryptocurrency market cap has dropped from $2.5 trillion on Monday, June 1, to $2.39 trillion on Tuesday, June 2, as evidenced by data retrieved by Finbold from CoinMarketCap . 7-day Crypto market cap. Source: CoinMarketCap The latest crash is only one in a series of broader correction events that accelerated earlier this year. As per the same data, the total cryptocurrency market valuation sat at $2.58 trillion one week and $2.59 trillion one month ago. In other words, the crypto industry has lost roughly $200 billion in a month, with most of it erased in the past seven days. Why is crypto crashing today? Virtually all leading digital currencies have suffered losses over the past. Bitcoin ( BTC ) has plummeted 5%, below $70,000, while Ethereum ( ETH ) is again trading under $2,000, having lost around 1%. XRP was also in a bad spot, losing 3% and hovering around $1.26 as a number of bearish indicators threaten to drag it to $1.15. Most clues left in the wake of the overall crypto bloodbath point to Bitcoin. Its downturn triggered more than $766 million in liquidations across digital asset markets, which largely coincides with significant U.S. Spot Bitcoin ETF outflows . Notably, BTC investment products recorded more than $480 million in net withdrawals on June 1, more than ten times what was reported by Ethereum ETFs, which shed around $44 million. Investor sentiment was also rattled further by reports that Strategy began selling Bitcoin too. The news sent trading activity up as volatility intensified, with total crypto trading volume exceeding $110 billion over the past 24 hours, up sharply from roughly $88 billion the previous day. Fear & Greed Index continues to drop: Will crypto recover? As the crypto market cap sank, the Crypto Fear & Greed Index, a metric that tracks market sentiment, fell from 31 to 29 out of 100, placing it closer to the ‘Extreme Fear’ range. Fear & Greed Index. Source: CoinMarketCap Several factors appear to be driving the pessimism, including escalating geopolitical tensions between the United States and Iran, the already mentioned ETF outflows, and the broader decline in crypto prices. However, periods of extreme fear have often preceded market recoveries, which is likewise supported by Bitcoin’s realized volatility dropping to a multi-year low on June 1. Nonetheless, the latest crash has left traders cautious, as multiple macroeconomic and geopolitical risks still weigh on investor confidence. Featured image via Shutterstock The post $110 billion erased from crypto market cap in 24 hours appeared first on Finbold .
2 Jun 2026, 11:43
Robert Kiyosaki predicted the ‘biggest crash in history’ a year ago; the stock market did this instead
By the evening of June 1 2025, the benchmark S&P500 stock market index was essentially flat year-to-date (YTD), and the prominent author and investor, Robert Kiyosaki , voiced his belief that its next move would be a collapse . Indeed, in an X post published on the day, the ‘Rich Dad Poor Dad’ writer issued a stark warning that the year’s summer would feature ‘the biggest crash in history’ that he predicted in a different book a decade earlier. Simultaneously, Kiyosaki forecasted that millions of people would be wiped out in an apparently then-imminent stock and bond market crash. Do not say I didn’t warn anyone. As predicted in my book Rich Dad’s Prophecy (2013) the biggest crash in history is coming. I am afraid that crash time is now and through this summer. Unfortunately, millions, especially my generation of boomers will be wiped out when the… — Robert Kiyosaki (@theRealKiyosaki) June 2, 2025 Here’s how the U.S. stock market performed since Kiyosaki predicted a summer crash Reality, however, disagreed with the best-selling author. The subsequent summer months of 2025 saw the S&P 500 rally 12.77% from 5,935 on June 2 – the first trading day after the X post – to 6,693 on September 22 – the last day of summer. Through the entire year, the benchmark index soared 16.39%, and the positive performance persisted into 2026. Specifically, the S&P 500 is up 10.81% YTD this year, and rose a total of 28.03% since Robert Kiyosaki’s June 2025 prediction from 5,935 to 7,599. S&P 500 stock market index one-year chart. Source: Google How Robert Kiyosaki’s favored assets performed since June 1, 2025 Elsewhere, the performance of the assets the ‘Rich Dad’ author has repeatedly named as the wiser investments has been mixed. Bitcoin ( BTC ) – Kiyosaki’s most-discussed cryptocurrency – declined 33.84% from $104.914 to $69,409. Ethereum ( ETH ) fell 22.14% from $2,538,97 to $1,976.88. Bitcoin price 12-month chart. Source: Google On the side of commodities , the best-selling writer has had better luck. Gold – and the asset Robert Kiyosaki previously dubbed ‘God’s money’ – soared 37.11% from $3,381.87 to $4,530.48, and Silver – his other favored precious metal – fared just as well with a 119.91% rise from $34.76 to $76.44. Silver price 12-month chart. Source: TradingView Meanwhile, ‘fake money’ – the American dollar – dropped by 0.30%, judging by the performance of the U.S. Dollar Index (DXY) over the last 12 months. Featured image via The Rich Dad YouTube Channel The post Robert Kiyosaki predicted the ‘biggest crash in history’ a year ago; the stock market did this instead appeared first on Finbold .
2 Jun 2026, 11:40
Solana faces 9th red candle as price nears $50
🚨 Solana registers its ninth straight red candle in June. SOL price has tumbled from $253 to $67, testing the $80 to $50 zone. 😮 A historical pattern hints at a possible rebound in $SOL if a local bottom forms. Continue Reading: Solana faces 9th red candle as price nears $50 The post Solana faces 9th red candle as price nears $50 appeared first on COINTURK NEWS .
