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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.
Updated Sep 14, 2021, 8:51 a.m. Published Jun 12, 2020, 4:06 p.m.
With the price of BTC dropping more than 6% overnight, CoinDesk's Markets Daily is back with your bitcoin news roundup.
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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.
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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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Tom Lee responds to controversy surrounding Fundstrat’s differing bitcoin outlooks
A debate on X over seemingly conflicting bitcoin forecasts from Fundstrat analysts drew a response from Tom Lee, highlighting differing mandates and time horizons.
What to know:
- X users flagged what appeared to be conflicting bitcoin outlooks from Fundstrat’s Tom Lee and Sean Farrell.
- Lee endorsed a post arguing the views reflect different mandates and time horizons, not internal disagreement.
- The episode highlights how public commentary can blur distinctions between short-term risk management and long-term macro views.
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