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Bhutan Sends 533 Bitcoin to Binance as Reserves Fall to $113 Million

Bhutan Sends 533 Bitcoin to Binance as Reserves Fall to $113 Million

<p class="text-left mb-4 ">The Royal Government of Bhutan transferred 533 <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">BTC</a>, worth $34.5 million, to Binance. According to data tracked by onchain analytics platform Arkham, the transaction was completed in multiple batches, showing that the country’s outflows over recent months are continuing without slowing down.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Transfer Completed in Multiple Batches</h2><p class="text-left mb-4 ">The transfers were made from a wallet labeled as belonging to Druk Holding & Investments (DHI), Bhutan’s state-owned investment arm, to a Binance deposit address. According to Arkham <a href="https://arkm.com/explorer/entity/druk-holding-investments" target="_blank" rel="noreferrer" class="text-primary underline">data</a>, the largest single transaction involved 227.194 BTC, worth approximately $14.7 million, while another transfer contained 48.228 BTC valued at $3.1 million.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-06-17-180112-9e666eb9.webp" alt="Ekran görüntüsü 2026-06-17 180112.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">The remaining amount was divided into smaller transactions ranging from fractional Bitcoin amounts to 2 BTC, all sent to the same address. The fact that the transfers were completed in several consecutive batches rather than as a single transaction has strengthened speculation that the movement was part of a planned liquidation process.</p><p class="text-left mb-4 ">Bhutan has been making similar transfers for months. Last month, Arkham reported that the government sent 100.44 BTC, worth $8.2 million, to an unlabeled address. At the time, the platform said total outflows from Bhutan-linked wallets had exceeded $230 million since the beginning of 2026.</p><p class="text-left mb-4 ">This figure suggests that Bhutan has transferred significant amounts of Bitcoin to exchanges or unlabeled wallets nearly every month since the start of the year.</p><p class="text-left mb-4 ">The government has not issued any statement regarding the latest transfer. In a post shared on X on Wednesday, Arkham announced the transaction and asked whether the Bhutanese government was selling Bitcoin. Bhutanese officials have also avoided directly answering similar questions in the past and have not provided clear information about the nature of these wallet movements.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Reserves Fall From a Peak of 13,000 BTC</h2><p class="text-left mb-4 ">Bhutan now holds 1,749.96 BTC, representing a decline of approximately 11,250 BTC from its peak of 13,000 BTC in October 2024. This means the country’s reserves have fallen by nearly 86% from their highest level.</p><p class="text-left mb-4 ">The total value of the government’s wallets is estimated at $113.7 million, including 1.034 ETH worth approximately $1,820.</p><p class="text-left mb-4 ">While most nation-states acquired their Bitcoin reserves through seizures, Bhutan followed a different path by operating hydroelectric-powered mining facilities. The small Himalayan kingdom directed its surplus electricity generation capacity toward Bitcoin mining, becoming one of the few countries to pursue such a strategy.</p><p class="text-left mb-4 ">As a result, Bhutan ranks seventh among known nation-state Bitcoin holders. According to Bitcoin Treasuries data, the countries ahead of Bhutan include the United States, China with 190,000 BTC, the United Kingdom with 61,245 BTC, Ukraine with 46,351 BTC, El Salvador with 7,649 BTC and the United Arab Emirates with 6,420 BTC.</p><p class="text-left mb-4 ">The continued decline in Bhutan’s Bitcoin reserves is also raising questions about the future of the country’s mining strategy. The absence of an official explanation for the ongoing reduction in reserves has allowed market speculation to continue.</p><p class="text-left mb-4 ">Bitcoin was trading at $64,775 on Wednesday, down 1.2% over the previous 24 hours.</p>

17 Jun 2026
Fed Interest Rate Decision Due Today: All Eyes on Warsh’s First Press Conference

Fed Interest Rate Decision Due Today: All Eyes on Warsh’s First Press Conference

<p class="text-left mb-4 ">Jerome Powell stepped down as Fed chair following the April meeting. The first FOMC meeting chaired by Kevin Warsh concludes today. The Fed will announce its latest interest rate decision at 2:00 p.m. ET, followed by Warsh’s press conference half an hour later.</p><p class="text-left mb-4 ">Data from the CME FedWatch Tool, which tracks market expectations, shows a 99.5% probability that rates will remain unchanged. No surprise is expected. The main issue is not the rate decision itself: the tightening cycle is officially over, the easing cycle has yet to begin, and uncertainty remains over where the Fed will head during this in-between period under Warsh.</p><p class="text-left mb-4 ">US inflation is at its highest level in three years. It also remains unclear when the economic effects of the tensions with Iran will fade. For this reason, attention is focused less on the interest rate decision and more on what Warsh will say during the press conference.</p><p class="text-left mb-4 ">Warsh is no stranger to the Fed. He was appointed by George W. Bush in 2006, becoming the youngest Fed governor at the time at just 35 years old. He remained in the role until 2011, serving through the height of the 2008 global financial crisis.</p><p class="text-left mb-4 ">During the crisis, Warsh acted as the Fed’s liaison with Wall Street and played a role in the negotiations that helped Morgan Stanley survive. He left the Fed in 2011 after criticizing its balance sheet expansion policies. In the years that followed, he became one of the central bank’s most outspoken external critics at Stanford University’s Hoover Institution.</p><p class="text-left mb-4 ">His appointment, made by the Trump administration, was confirmed by the Senate in an unusually partisan 54-45 vote and became official in May.</p><p class="text-left mb-4 ">The question now is whether Warsh will adopt a dovish tone and lay the groundwork for rate cuts by highlighting falling oil prices and AI-driven disinflation, or stick to the scenario already priced in by markets. He has previously criticized the Fed for “communicating too much” with markets, and he is also likely to face questions on that issue during the press conference.</p><p class="text-left mb-4 ">The dot plot will be the main area to watch. In the most recent projections released in March, seven officials expected no rate cuts in 2026. Among the others, seven projected a 25-basis-point cut, two expected 50 basis points, two forecast 75 basis points, and one anticipated 100 basis points of easing.</p><p class="text-left mb-4 ">Interest rate futures are currently pricing in an 80% probability of a 25-basis-point hike by December. A decline in this projection in the updated dot plot would be considered positive for cryptocurrencies and other risk assets.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">What Is the Latest Situation in Crypto Markets?</h2><p class="text-left mb-4 ">For now, there is little sign of nervousness in the market. Volatility linked to <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">Bitcoin </a>and Ethereum has completely reversed its early-month increase and fallen to its lowest level in two weeks.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/btcusdt-2026-06-17-15-18-10-2730c07b.webp" alt="BTCUSDT_2026-06-17_15-18-10.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">The US 10-year Treasury yield has also eased to 4.43% after climbing above 4.55% following the outbreak of the war in late February. This yield is widely regarded as a key benchmark for overall borrowing costs across the economy. When it declines, financial conditions ease and risk assets gain some breathing room.</p>

17 Jun 2026
Binance’s MiCA License in Europe Could Be at Risk

Binance’s MiCA License in Europe Could Be at Risk

<p class="text-left mb-4 ">According to Reuters, <a href="https://jrkripto.com/tr/exchanges/binance" target="_blank" rel="noreferrer" class="text-primary underline">Binance’s </a>MiCA license application filed through Greece is reportedly set to be rejected. If the report is accurate, the world’s largest cryptocurrency exchange could fail one of its most critical regulatory tests in Europe just before the EU’s July 1 deadline.</p><p class="text-left mb-4 ">MiCA, or Markets in Crypto-Assets, is the European Union’s comprehensive regulatory framework for crypto assets. A license obtained from any EU member state can theoretically be used across the entire bloc, making the choice of application country a strategic decision for companies.</p><p class="text-left mb-4 ">Binance chose Greece and submitted its application to the Hellenic Capital Market Commission (HCMC). The transitional period ends on July 1; after that date, companies operating without the required license will be in breach of EU law.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Greece May Reject the Application</h2><p class="text-left mb-4 ">According to Reuters, citing two sources familiar with the matter, the HCMC plans to reject Binance’s application. Such a decision would affect more than the Greek market, as it could directly disrupt the exchange’s operations across the EU.</p><p class="text-left mb-4 ">MiCA licenses operate under a passporting system. Once authorized in one member state, a company can provide services throughout the bloc. A rejection in Greece would therefore block Binance’s chosen route to securing access to the wider European market.</p><p class="text-left mb-4 ">Binance disputes this account. A company spokesperson said the exchange believes it meets MiCA’s requirements and has worked with regulators throughout the 18-month application process. The spokesperson added that Binance had received no indication that its application would be rejected.</p><p class="text-left mb-4 ">There are now two conflicting accounts: a report based on unnamed sources and an official company statement rejecting its claims. The truth will become clear once the regulator announces its final decision.</p><p class="text-left mb-4 ">In a warning published in April, the European Securities and Markets Authority (ESMA) said crypto companies serving EU customers without the necessary authorization after July 1 would be violating the law. ESMA advised such companies to prepare either to cease their operations or transfer their customers to licensed platforms.</p><p class="text-left mb-4 ">For Binance, a rejection would create more than reputational damage. It would also bring an immediate operational challenge: the exchange would need to secure an alternative license quickly or redirect its European customers elsewhere.</p><p class="text-left mb-4 ">The report carries additional weight when viewed alongside Binance’s regulatory history. The exchange has been working to repair its relationship with regulators worldwide following its $4.3 billion settlement with US authorities in 2023 over anti-money laundering violations. Former CEO Changpeng Zhao was also sentenced to four months in prison before later receiving a pardon from President Donald Trump.</p><p class="text-left mb-4 ">Current CEO Richard Teng has repeatedly placed licensing in major markets at the center of Binance’s growth strategy. In a tweet posted this morning, Teng reiterated the company’s commitment to Europe and said Binance remained determined to obtain a MiCA license. He described the EU’s regulatory framework as “clear, fair and harmonized.”</p><p class="text-left mb-4 ">Binance appeared to believe that the application process was progressing smoothly, at least based on its public statements. Reuters’ sources paint a different picture. The outcome should become clear within weeks, with the July 1 deadline rapidly approaching.</p><p class="text-left mb-4 ">If the application is rejected, Binance users in the EU could be directly affected. The company may be forced to shut down parts of its European operations or move customers to a licensed alternative. ESMA’s April warning had already outlined such a scenario, although carrying out a transition involving millions of users would be a far more significant challenge.</p><p class="text-left mb-4 ">The market is now waiting for both the HCMC’s official decision and Binance’s response.</p>

17 Jun 2026
US Congress Reaches Agreement on Fed CBDC Ban

US Congress Reaches Agreement on Fed CBDC Ban

<p class="text-left mb-4 ">US Senate and House leaders have reached an agreement to advance a sweeping housing bill that includes a ban on central bank digital currencies (CBDCs). Housing reform, which has remained before Congress for years, has now entered its final stage with a provision that directly concerns the cryptocurrency industry.</p><p class="text-left mb-4 ">Senator Tim Scott, Senator Elizabeth Warren, Representative French Hill and Representative Maxine Waters released an updated version of the “21st Century ROAD to Housing Act” on Tuesday. The text, jointly endorsed by all four lawmakers, indicates that an agreement has been reached across both chambers and between Republicans and Democrats. Such a four-way compromise is rare, particularly in a politically sensitive area such as housing policy.</p><p class="text-left mb-4 ">The legislative package aims to increase housing supply in the US and prevent institutional landlords from dominating the market. In recent years, large investment funds and corporate buyers have been accused of purchasing single-family homes in bulk and converting them into rental properties, contributing to rapidly rising home prices and rents. The bill seeks to curb this trend and make it easier to introduce measures that expand housing supply.</p><p class="text-left mb-4 ">To address objections in the House, lawmakers added a three-year sunset provision to a disaster relief program. This was one of the concessions that emerged during the final stages of negotiations. Reaching this point was far from easy, as reconciling a broad housing policy package between the two chambers typically requires months of negotiations and mutual concessions.</p><p class="text-left mb-4 ">Scott said the legislation was the result of years of work to lower costs, expand housing supply, reduce bureaucracy, protect taxpayers and help more Americans become homeowners. He stressed that it was now time to finalize the bill and deliver meaningful relief to the American public. Warren, Hill and Waters similarly highlighted the bipartisan nature of the legislation and its practical benefits for Americans.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">How Did the CBDC Ban Enter the Bill?</h2><p class="text-left mb-4 ">The bill would prohibit the Federal Reserve from issuing a CBDC, or any digital asset “substantially similar” to one, until the end of 2030. Although the provision may initially appear unrelated to housing policy, it reflects a familiar tactic in Washington: attaching unrelated policies to must-pass legislation that is considered highly likely to become law.</p><p class="text-left mb-4 ">According to earlier reporting by journalist Eleanor Terrett, pressure to add the provision came from House Republicans. Opposition to CBDCs has gained increasing support within the Republican Party in recent years. The movement is largely driven by concerns that a central bank-issued digital currency could threaten individual privacy and give the government excessive control over financial transactions.</p><p class="text-left mb-4 ">The Trump administration’s opposition to CBDCs is also well established. Treasury Secretary Scott Bessent reiterated last month that CBDCs were “not on the table,” adding that the administration’s main focus was finalizing the digital asset-focused Clarity Act. His comments align with the administration’s broader <a href="https://jrkripto.com/tr/analytics" target="_blank" rel="noreferrer" class="text-primary underline">crypto </a>policy: opposition to CBDCs alongside greater openness toward privately issued digital assets and stablecoin regulation.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Next Steps</h2><p class="text-left mb-4 ">According to Politico, citing Senate Majority Leader John Thune, the updated bill will now proceed to an initial procedural vote in the Senate. The outcome will provide an important indication of how quickly the rest of the legislative process could move.</p><p class="text-left mb-4 ">If the bill passes the Senate, it will then move to the House. A vote is expected shortly after lawmakers return from recess around June 23. If the process is completed, the legislation will be sent to the president’s desk.</p><p class="text-left mb-4 ">Once signed into law, the bill would establish a multi-year framework covering both US housing policy and the country’s official position on central bank digital currencies.</p>

17 Jun 2026
Coinbase Adds a New Altcoin to its Listing Roadmap

Coinbase Adds a New Altcoin to its Listing Roadmap

<p class="text-left mb-4 ">Coinbase has added decentralized location infrastructure project GEODNET (GEOD) to its official listing roadmap. Coinbase Markets announced on X on June 16 that the newly added asset was GEODNET and shared the SPL token contract address for GEOD on the Solana network.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-06-16-160647-3e5b4995.webp" alt="Ekran görüntüsü 2026-06-16 160647.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">The exchange’s listing roadmap is described as a process through which Coinbase publicly shares digital assets it is evaluating for future trading support. However, being added to the roadmap does not mean the token will necessarily be listed on Coinbase. Actual trading support will only be launched if liquidity conditions are met and technical requirements are satisfied. Coinbase said it would announce the trading launch separately once these conditions are fulfilled.</p><p class="text-left mb-4 ">At the time of writing, GEOD was trading around $0.2009, down 7.68% on the day. Over the past 30 days, however, the token has gained 47.87%, while its 24-hour trading range stood between $0.1993 and $0.2248.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">GEOD Price Outlook</h2><p class="text-left mb-4 ">In the short term, GEOD’s inclusion on Coinbase’s listing roadmap is increasing expectations of fresh buying interest. Still, the fact that the listing has not yet been confirmed remains a factor limiting upside potential. The token is currently trading around $0.209; while the MACD shows a rising structure, the RSI has reached 78, signaling overbought conditions. If <a href="https://jrkripto.com/tr/coin/geod" target="_blank" rel="noreferrer" class="text-primary underline">GEOD </a>manages to hold above $0.22, the next target could be $0.24. If it fails to stay above this level, $0.19 and then $0.17 could be tested.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/geodusdt-2026-06-16-16-11-55-26b43395.webp" alt="GEODUSDT_2026-06-16_16-11-55.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">In the medium term, the expectation created by Coinbase’s roadmap could act as a catalyst supporting the liquidity premium. The price is trading above the MA20, MA50 and MA200, confirming the upward trend. If the $0.19 support level is preserved, the $0.24-$0.27 range could open up. A breakdown below this level, however, could point to a pullback toward the $0.15-$0.17 zone.</p><p class="text-left mb-4 ">For a long-term assessment, the roadmap alone is not enough. An actual listing, higher liquidity and sustained trading volume will be the key factors. Since the broader market remains driven largely by Bitcoin-centered trends, altcoin dynamics continue to be fragile. If GEOD holds above $0.15, the $0.27-$0.32 band may come into play; otherwise, a decline toward $0.12 remains possible.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">What Is GEODNET?</h2><p class="text-left mb-4 ">GEODNET, short for Global Earth Observation Decentralized Network, is a decentralized physical infrastructure network, or DePIN, project. Its main goal is to correct standard GPS signals and provide centimeter-level location accuracy. Given that ordinary GPS can deviate by several meters, this level of precision is critically important for autonomous vehicles, agricultural machinery, drones and robotic systems.</p><p class="text-left mb-4 ">The network consists of hardware devices called “Space Weather mining stations.” These stations monitor and report in real time how solar winds from the Sun affect GNSS signals, then feed the correction data into the network. The corrected signals provide nanosecond-level timing accuracy and 1-2 centimeter positional precision.</p><p class="text-left mb-4 ">GEOD is the network’s native utility token. It has three main functions: users can use it as a payment method to access data streams, station operators receive rewards through the token, and token holders can participate in governance voting. In addition, 80% of the network’s revenue is automatically used to buy back and burn GEOD. This deflationary mechanism permanently reduces token supply as the network’s real-world usage grows.</p><p class="text-left mb-4 ">GEODNET primarily operates on the Solana blockchain, while also maintaining a presence on Polygon and IoTeX. The project serves various institutional customers, including the U.S. Department of Agriculture, and has built a global network of more than 7,000 GNSS stations. The token’s total supply is capped at 1 billion GEOD.</p>

16 Jun 2026
Bhutan Sends 533 Bitcoin to Binance as Reserves Fall to $113 Million
Bhutan Sends 533 Bitcoin to Binance as Reserves Fall to $113 Millionabout 3 hours ago
Fed Interest Rate Decision Due Today: All Eyes on Warsh’s First Press Conference
Fed Interest Rate Decision Due Today: All Eyes on Warsh’s First Press Conferenceabout 5 hours ago
Binance’s MiCA License in Europe Could Be at Risk
Binance’s MiCA License in Europe Could Be at Riskabout 7 hours ago
US Congress Reaches Agreement on Fed CBDC Ban
US Congress Reaches Agreement on Fed CBDC Banabout 9 hours ago
Coinbase Adds a New Altcoin to its Listing Roadmap
Coinbase Adds a New Altcoin to its Listing Roadmap1 day ago
Bhutan Sends 533 Bitcoin to Binance as Reserves Fall to $113 Million
Bhutan Sends 533 Bitcoin to Binance as Reserves Fall to $113 Millionabout 3 hours ago
Fed Interest Rate Decision Due Today: All Eyes on Warsh’s First Press Conference
Fed Interest Rate Decision Due Today: All Eyes on Warsh’s First Press Conferenceabout 5 hours ago
Binance’s MiCA License in Europe Could Be at Risk
Binance’s MiCA License in Europe Could Be at Riskabout 7 hours ago
US Congress Reaches Agreement on Fed CBDC Ban
US Congress Reaches Agreement on Fed CBDC Banabout 9 hours ago
Coinbase Adds a New Altcoin to its Listing Roadmap
Coinbase Adds a New Altcoin to its Listing Roadmap1 day ago

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Cryptocurrency CalendarJune 17, 2026
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