Bitcoin News Roundup for June 12, 2020
With the price of BTC dropping more than 6% overnight, CoinDesk's Markets Daily is back with your bitcoin news roundup.

With the price of BTC dropping more than 6% overnight, CoinDesk's Markets Daily is back with your bitcoin news roundup.
For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
This episode is sponsored by Bitstamp and Ciphertrace.
Today's stories:
Why Bitcoin Suddenly Dropped 6% on Thursday
The week-long calm in the bitcoin market ended with a sudden $800 price drop on Thursday. Here are three likely reasons why.
Quadriga Was a Ponzi Scheme, Ontario Securities Regulator Says
The Ontario Securities Commission has published a scathing report calling now-defunct Canadian exchange QuadrigaCX a "Ponzi," and denouncing the practices of founder and CEO Gerald Cotten.
Unstoppable Domains Taps IPFS for Censorship-Resistant Blogging Platform
Decentralized blogging is coming to a .crypto URL near you thanks to a partnership between Unstoppable Domains and Protocol Labs.
For early access before our regular noon Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica or RSS.
More For You
State of the Blockchain 2025

L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
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Crypto prices again muted as gold surges to new record, U.S. stocks advance

Bitcoin for the moment was unable to hold the $90,000 level reached prior to the U.S. market open.
What to know:
- Crypto prices are slipping a little during the U.S. trading session as precious metals and stocks move higher.
- The AI trade remains strong, with bitcoin miners who have pivoted business models moving sharply higher.
- Both gold and silver hit new records Monday and one analyst said bitcoin can't rally until those metals cool.











