bank

According to CoinDesk, Standard Chartered Bank analyst Geoffrey Kendrick stated in a report on Friday that the cryptocurrency market has reached the final bottom of this monetary cycle. The cycle low for Bitcoin is currently set at $59,000, down 53% from the historical high of $126,000 reached on October 6. Kendrick expects that by the end of this year, the price of Ethereum will reach $4,000, and the price of Bitcoin will reach $100,000.He pointed out that there are two core factors supporting this market rebound. First, in recent weeks, Bitcoin spot ETFs have faced the most severe sell-off since their inception. Since the second week of May, total redemptions have exceeded $5.72 billion. He also noted that it is rumored that ETF holders have been liquidating their positions to free up funds to participate in SpaceX's initial public offering (IPO). Kendrick stated that SpaceX's IPO this Friday could end the current selling pressure.Second, if the G7-related peace agreement reached between the U.S. and Iran is true, it would help prevent oil prices from skyrocketing. A decline in oil prices would suppress the rising U.S. Treasury yields, thereby alleviating the macro pressure on the cryptocurrency market. To confirm that the market bottom is solid, Kendrick will closely monitor in the coming days: the news on Monday about Strategy (MSTR) increasing its Bitcoin holdings this week; whether the U.S. spot Bitcoin ETF can restore net inflows this Friday.

According to Jinshi reports, European Central Bank Governing Council member Kazimir stated that the spread of inflation in the economy will force the European Central Bank to raise interest rates further. He believes that without intervention, price pressures will not ease.Kazimir noted that although the economy has cooled somewhat, its resilience still exists, providing officials with room to act. He stated that the inflation data for June may be decisive, but the situation for July is still inconclusive, and new forecasts will be available in September.

According to Jinshi News, European Central Bank Governing Council member Kazimir stated that the interest rate hike task is not yet complete.

The Bank of Japan will hold a key monetary policy meeting next Tuesday, with the market widely expecting an interest rate hike of 25 basis points to 1%, marking the highest interest rate level since 1995 and signaling a further move towards normalization of Japan's monetary policy. However, uncertainty surrounding this meeting has significantly increased. Governor Kazuo Ueda will be absent from the meeting and the subsequent press conference due to health reasons, with communication responsibilities taken over by Deputy Governor Shinichi Uchida, raising market concerns about changes in policy wording and forward guidance.Currently, the USD/JPY has risen above 160, nearing a two-year high and approaching the intervention zone. Traders generally believe that, given the market has fully priced in the interest rate hike expectations, the real key lies in the central bank's stance on the future path of interest rate hikes. Institutional analysis indicates that if the Bank of Japan releases dovish signals, it could further weaken the yen and push up Japanese government bond yields; conversely, if it shows a clearer tightening tendency, it would help stabilize exchange rate expectations.At the same time, Japan is facing multiple constraints such as rising imported inflationary pressures, fluctuations in energy prices, and expectations of fiscal expansion, making the policy path more complex. The latest data shows that Japan's core inflation has risen to 3.5%, reaching a new high for this phase. Analysts believe that this meeting is not only a point for interest rate adjustments but may also serve as an important observation window for changes in the Bank of Japan's policy communication framework, with the Deputy Governor's statements directly influencing the short-term direction of the yen and global interest rate markets.

According to Jinshi reports, the International Monetary Fund stated that the European Central Bank may need to continue raising interest rates to address the current economic situation and inflationary pressures.

According to Jinshi News, European Central Bank President Lagarde stated that if interest rates are not raised, inflation will remain above the target in the medium term.

According to Gate market data, the European Central Bank raised interest rates by 25 basis points as scheduled, and the EUR/USD exchange rate rose slightly, reported at 1.1537.

According to Jinshi News, the European Central Bank stated that the Middle East war is generating inflationary pressures.

According to Jinshi reports, the European Central Bank raised the deposit facility rate from 2% to 2.25%, marking the first rate hike in nearly three years, in line with market expectations. The main refinancing rate and the marginal lending rate were raised to 2.4% and 2.65%, respectively.

According to CoinDesk, Singapore's DBS Bank plans to offer tokenized gold trading to retail customers in the second half of 2026. DBS Bank will launch a product called "DBS Physical Gold Token" on its digital banking platform and is considering listing it on the DBS Digital Exchange (DDEx), which is tailored for qualified investors and institutions.Each token is backed by 1 gram of physical gold held in a dedicated vault by DBS Bank in Singapore. DBS Bank stated that the token will be self-issued and managed. James Tan, head of investment products at DBS Bank, mentioned that previously retail customers could only purchase gold funds, while physical gold was primarily available to institutions and qualified investors; this tokenization will expand access.

According to Jinshi reports, Dutch Bank stated that European Central Bank President Lagarde had previously hinted that June would be a "suitable time" to assess the impact of the Iran conflict and update economic forecasts. Dutch Bank expects the European Central Bank to raise its inflation forecasts and suggests a possible further tightening of policy, with a potential rate hike of 25 basis points in July. Despite the slowdown in growth in the Eurozone, policymakers' concerns about inflation still outweigh their concerns about economic activity.

According to PR Newswire, the Spanish securities services bank Cecabank has launched cryptocurrency asset custody services for financial institutions, with its first partner client being Renta 4 Banco, and it has collaborated with Bit2Me to provide trading execution capabilities.This service is based on Cecabank's institutional-grade custody infrastructure, with Bit2Me providing the execution platform, liquidity, and market access, supporting services such as buying and selling, order reception and transmission, and transfers.

The European Central Bank (ECB) is expected to announce an interest rate hike on Thursday, marking the first increase since 2023, in response to the energy price shocks triggered by the conflict in the Middle East. The market widely anticipates that the ECB deposit rate will be raised from 2% to 2.25% to curb the inflationary pressures arising from the constrained energy supply due to the tensions in the Strait of Hormuz.Data shows that the eurozone's inflation rate rose to 3.2% in May, significantly above the central bank's policy target of 2%, with rising energy prices being the main driving factor. This policy adjustment occurs against the backdrop of economic growth pressures in the eurozone, where the economy contracted in the first quarter, and some economists warn that interest rate hikes could further drag down growth and consumer confidence.Analysts point out that the Federal Reserve and the Bank of England have not yet synchronized their tightening policies, and the ECB's preemptive action may reflect its greater sensitivity to energy-driven inflation. The market will closely watch President Lagarde's subsequent statements to determine whether a new tightening cycle will be initiated.

PiggyBank released a detailed report on the LAB incident on June 6, stating that the protocol experienced a net withdrawal of approximately $579,000 on June 6, primarily due to a LAB token basis trade being manipulated by the market.In early May, PiggyBank purchased 142,800 locked LAB tokens (approximately $102,500) through an OTC intermediary while simultaneously opening a perpetual contract short hedge. However, market participants continuously maintained the spot price above the perpetual contract price, resulting in a deeply negative funding rate (annualized -17,000%), and the high hedging costs forced the shorts to close, resulting in a loss of approximately $476,000. The currently locked LAB tokens have a spot value of about $1 million, but due to poor liquidity and lack of hedging, they have been excluded from the NAV calculation.PiggyBank will undergo structural reforms: increasing transparency of on-chain mechanisms, strategy logic, and fund allocation will be publicly verifiable, while basis trading and funding rate arbitrage will be gradually phased out. In terms of compensation, affected users will receive USDC compensation based on actual losses, with funding sources including NAV discrepancies, future LAB sales (expected to unlock from August 14 to October 14, currently valued at approximately $1 million), and 50% of future platform revenue. All users recorded in the snapshot on June 6 are eligible for compensation.

Stand With Crypto's UK branch has initiated action, calling on banks to lift restrictions on transfers to cryptocurrency exchanges, arguing that such practices conflict with the UK's goal of becoming a global digital asset hub.The organization stated that about 40% of banks in the UK have blocked or delayed transactions to cryptocurrency exchanges, and 80% of exchanges reported a significant increase in trading resistance from customers over the past year. Some exchanges have even experienced nearly £1 billion in transaction cancellations within a year due to banks refusing to process transfers.Stand With Crypto UK plans to mobilize over 286,000 registered cryptocurrency advocates in the UK to submit formal complaints to their respective banks. The organization stated that users should not be unable to access legitimate asset classes due to banks imposing "one-size-fits-all" restrictions on the entire industry.

According to the Korea Economic Daily, the National Bank of Korea successfully issued $100 million in blockchain digital bonds, marking the first instance in the country's banking sector. The bonds were issued through HSBC's digital asset platform Orion and will subsequently connect to the clearing and settlement system of the central depository and settlement institution under the Hong Kong Monetary Authority.The National Bank of Korea will also utilize the digital bond subsidy program from the Hong Kong Monetary Authority to reduce some of the issuance costs. The bank stated that this issuance is part of KB Financial Group's "transformation and expansion" strategy, and following the completion of the technology validation for Korean won stablecoin payment settlement, it is accelerating the advancement of digital financial transformation.

American venture capitalist and billionaire Tim Draper posted on the X platform that he believes the banking system will be breached before quantum computing has the capability to break blockchain. Draper stated that Bitcoin is safer than the dollars in bank accounts. Even if there are issues with blockchain, full node operators can roll back to the last secure block, and the network can continue to operate, whereas dollars and banks do not have this option. He predicts that as retailers begin to accept Bitcoin, it will eventually completely replace the dollar.

Investment bank TD Cowen analyst Lance Vitanza reiterated a buy rating on Bitcoin treasury company Strategy (MSTR), with a target price of $400.