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Crypto

Crypto exchange closures may signal market bottom, Tom Lee says

A series of cryptocurrency exchange shutdowns could be a sign the market is near a bottom, Fundstrat co-founder Tom Lee said. His comments followed BitMart’s decision to end its trading platform and BitMEX’s plan to halt operations this year. Lee maintained a long-term optimistic view on ethereum, comparing its evolution potential to growth inflection points seen at Amazon, Nvidia and JPMorgan, and reiterated a $250,000 long-term target.

Crypto

Coinbase CEO says bitcoin not under immediate quantum threat but preparations should speed up

Bitcoin is not facing an immediate threat from quantum computers, but the industry should start preparing now, Coinbase CEO Brian Armstrong said. He unveiled the launch of the Bitcoin Security Consortium, which includes Coinbase, BlackRock, Fidelity Digital Assets, Block, Blockstream and Strategy. Coinbase is developing a quantum-resistant key management system and plans joint sessions from August with Bitcoin Core developers, cryptographers and researchers to discuss migration strategies.

Crypto

Strategy says it can cover interest and dividends even if bitcoin falls for six straight years

Strategy said it can meet its financial obligations under its current capital structure even if bitcoin prices fall for an extended period. It said an internal scenario showed it could fully pay interest costs and preferred share dividends even if bitcoin declines 11.4 percent annually for 5.8 years. The company is also reshaping its financing structure, revamping metrics and joining the Bitcoin Security Consortium backed by $15 million in pledged funding.