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Bitcoin News Roundup for June 19, 2020
With BTC miners HODLing, Reddit dreaming big and a crypto card issuer missing billions of dollars and drawing comparisons to Enron, CoinDesk's Markets Daily is back with another Bitcoin news roundup.
Updated Dec 6, 2022, 6:28 p.m. Published Jun 19, 2020, 2:20 p.m.
With BTC miners HODLing, Reddit dreaming big and a crypto card issuer missing billions of dollars and drawing comparisons to Enron, CoinDesk's Markets Daily is back with another Bitcoin news roundup.
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Outflow of Bitcoin From Miners at Lows Not Seen Since 2010
Miner outflows of bitcoin have dropped to decade lows, with analysts saying a hoarding mentality and a drop in issuance after the halving are responsible.
Reddit Seeks Scaling Solution for Ethereum-Based 'Community Points'
Reddit announced a partnership with the Ethereum Foundation to find a scaling solution for the site's new blockchain-based Community Points.
Crypto Card Issuer Wirecard Says It's Missing $2.1B in 'German Enron' Scandal
Wirecard admitted the accounting hole was roughly a quarter of the company’s total balance sheet.
Polkadot Is Latest Blockchain to Explore Redeemable Bitcoin Tokens
It's only a proof-of-concept at this point, but there's now a model for locking BTC on the Bitcoin blockchain and minting PolkaBTC on Polkadot.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Japan’s Higher Rates Puts Bitcoin in the Crosshairs of a Yen Carry Unwind
A stronger yen typically coincides with de-risking across macro portfolios, and that dynamic could tighten liquidity conditions that recently helped bitcoin rebound from November’s lows.
What to know:
- The Bank of Japan is expected to raise interest rates to 0.75% at its December meeting, the highest since 1995, affecting global markets including cryptocurrencies.
- A stronger yen could lead to de-risking in macro portfolios, impacting liquidity conditions that have supported bitcoin's recent recovery.
- Governor Kazuo Ueda indicated a high probability of a rate hike, with officials prepared for further tightening if their economic outlook supports it.
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