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Bitcoin News Roundup for June 18, 2020
With an Austrian app that aims to track COVID-19 now including blockchain, CoinDesk's Markets Daily Bitcoin news roundup is back!
Updated Dec 6, 2022, 6:28 p.m. Published Jun 18, 2020, 4:00 p.m.
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With an Austrian app that aims to track COVID-19 now including blockchain, CoinDesk's Markets Daily Bitcoin news roundup is back!
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This episode is sponsored by Bitstamp and Ciphertrace.
Today's stories:
Bitcoin Still Undervalued After Q2 Rally, Price Metric Shows
Bitcoin's Mayer multiple indicates the cryptocurrency is undervalued despite having rallied by over 40% this quarter.
Trump Told Treasury Secretary to 'Go After' Bitcoin, Bolton Book Reportedly Claims
Former national security adviser John Bolton is said to have revealed the conversation in his book, scheduled for publication next week.
Austrian Government Funds Development of Blockchain-Based COVID-19 App
Austria's economic affairs ministry awarded a $67,600 grant to a project called QualiSig, which uses the Ardor blockchain to verify COVID-19 testing.
Russia's Ministry of Justice Latest to Criticize Proposed Crypto Ban
Russia's Ministry of Justice is the latest government authority to oppose a proposed crypto ban, seeing inconsistencies in the bill's stipulations
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KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
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Kevin O'Leary says power is now more valuable than bitcoin
"Shark Tank" investor Kevin O'Leary is pivoting his crypto strategy from tokens to energy infrastructure, declaring that power generation is now the real prize.
What to know:
The big pivot: O'Leary has moved capital away from smaller tokens to focus on physical infrastructure like land, power, and copper.
- He believes power is now "more valuable than bitcoin" and has secured significant land deals with stranded natural gas in Alberta and the U.S.
- His thesis is driven by the massive energy needs of bitcoin mining and AI, noting that entities controlling power can serve either market.
- He advises investors to look at copper and gold, noting copper prices have nearly quadrupled for his projects in the last 18 months.
- He views Robinhood and Coinbase as "no-brainer" infrastructure investments, having reallocated capital from altcoins into these platforms. He describes Robinhood as the premier bridge for managing equity and crypto in one portfolio, while labeling Coinbase the "de facto standard" for businesses to manage stablecoin transactions and vendor payments once regulatory acts pass.
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