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Bitcoin News Roundup for June 24, 2020
With miners transferring more bitcoin now compared to any point in the last year, police misconduct on Ethereum and a new inter-blockchain hub out of China, Markets Daily is back with another news roundup.
Updated Dec 6, 2022, 6:28 p.m. Published Jun 24, 2020, 4:00 p.m.
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With miners transferring more bitcoin now compared to any point in the last year, police misconduct on Ethereum and a new inter-blockchain hub out of China, Markets Daily is back with another news roundup.
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Miners Are Sending Bitcoins to Exchanges Again – and That May Be Bearish
A sudden spike in miner outflows of bitcoin to exchanges makes the cryptocurrency vulnerable to a price drop, according one analyst.
Activists Document Police Misconduct Using Decentralized Protocol:
Built on the InterPlanetary File System and the Ethereum blockchain, the protocol lets anyone file police misconduct reports anonymously.
How Chainlink and Cosmos Fit Into China's Grand Blockchain Initiative
Chainlink will help the state-backed Blockchain-Based Service Network with oracles, and Cosmos-powered Irisnet will assist with interoperability.
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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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How a 'perpetual’ stock trick could solve Michael Saylor’s $8 billion debt problem
The bitcoin treasury firm is using perpetual preferreds to retire convertibles, offering a potential framework for managing long-dated leverage.
What to know:
- Strive upsized its SATA follow on offering beyond $150 million, pricing the perpetual preferred at $90.
- The structure offers a blueprint for replacing fixed maturity convertibles with perpetual equity capital that removes refinancing risk.
- Strategy has a $3 billion convertible tranche due in June 2028 with a $672.40 conversion price, which could be addressed using a similar preferred equity approach.
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