BTC breaks through the $105000 mark

According to DL News, Self Chain founder Ravindra Kumar has been accused of participating in a $50 million off exchange cryptocurrency scam that defrauded investors through false token trading. Kumar issued a statement on the X platform firmly denying the allegations, stating that they are "completely untrue" and that the legal team is preparing to write a response statement. This scam involves off exchange trading of tokens for multiple well-known projects such as Sui, Near, Axelar, and Sei. Mohammed Waseem, CEO of Indian over-the-counter broker Aza Ventures, revealed that his company has inadvertently facilitated dozens of fraudulent transactions over the past few months. Although the initial transaction was genuine, it later evolved into a Ponzi scheme, where the seller used "Source 1" as a code name to commit fraud by delaying the delivery of tokens. Waseem claimed to have contacted Indian authorities and promised to refund the defrauded investors, but his personal funds have been depleted due to advances. At present, 'Source 1' has promised to start returning funds before the end of June. It is worth noting that before the scam was exposed, multiple industry insiders including Adeniyi Abiodun from Mysten Labs and Lucian Mincu from MultiversX had repeatedly warned of the existence of false over-the-counter trading.

BlockBeats News: On June 20th, according to the US news agency, Parataxis Holdings LLC, an investment company focused on the digital asset field, is an affiliate of Parataxis Capital Management LLC. Through Parataxi Korea Fund I LLC and its affiliates, Parataxi Holdings has signed a final agreement with Bridge Biotherapeutics, Inc., a biotechnology company, to invest KRW 25 billion in order to acquire a controlling stake in the company (the "Transaction"). After the transaction is completed, the company plans to change its company name to Parataxi Korea and continue to be listed on KOSDAQ. This transaction still needs to meet the customary closing conditions, including shareholder approval. This transaction will lead to the birth of a Bitcoin based reserve platform in the South Korean public market, backed by institutional investors with rich experience in digital asset investment. As part of this transaction, Edward Chin, founder and CEO of Parataxi Holdings and co-founder and CEO of Parataxi Capital, will join the company's board of directors. Parataxis Capital partner Andrew Kim will serve as the company's CEO and also join the board of directors. James Jungkue Lee, co-founder of Bridge Bio, will continue to lead the company's core biotechnology business and retain a seat on the board of directors.

According to BlockBeats, on June 20th, despite the hawkish stance of the Federal Reserve, insufficient summer liquidity, and ongoing turmoil in the Middle East putting pressure on the Bitcoin market, BRN Chief Analyst Valentin Fournier stated that the continued buying behavior of businesses still makes the long-term outlook for Bitcoin bullish. On Thursday, medical device manufacturer Semler Scientific (SMLR) announced plans to significantly increase its holdings of Bitcoin from 4449 to 100500 by 2027. The company will raise funds through convertible bonds and on-site issuance. Fournier wrote in the report: "Despite market sentiment remaining cautious and short-term geopolitical uncertainty dominating, we believe Semler Scientific's news is a significant signal of structural demand. '' At the same time, some analysts have also warned that there are systemic risks in the current market similar to the 2021 bull bear cycle. However, Peter Chung, the research director of Presto, believes that the current trend of encrypted vaults is more robust than past "boom bust" cycles. He pointed out that currently, companies generally avoid the high leverage model of using cryptocurrency as collateral for loans, which has amplified downside risks in the past. In addition, due to the lack of sufficient data, we have not yet seen the phenomenon of "excessive premium" that would attract radical investors. Cryptocurrencies such as Bitcoin remained stable overall on Friday. The GMCI 30 index has slightly increased, while the price of Bitcoin remains around $106000.

According to The Economic Times, the Norwegian government announced on Friday that the country plans to temporarily ban the establishment of new data centers that use the most power consuming technology to mine cryptocurrency, in order to save electricity for other industries. Digital and Public Administration Minister Karianne Tung stated that the Labour government has a clear intention to limit cryptocurrency mining activities in Norway as much as possible. Cryptocurrency mining is highly energy intensive and creates minimal job opportunities and income for local communities. The government has stated that this temporary ban may be implemented in the autumn of 2025.

JUST IN: 4,100,000,000 worth of Bitcoin & Ethereum options expire today.