Leading cryptocurrencies crashed on Tuesday as geopolitical uncertainty and Strategy Inc.‘s (NASDAQ:MSTR) sale of Bitcoin hammered sentiment.

Crypto Market In Blood Red

Bitcoin nearly fell below $66,000, as the apex cryptocurrency’s decline triggered an aggressive sell-off across the broader market. Ethereum plunged to a nearly three-month low, while XRP and Dogecoin also posted sharp declines.

The drop accelerated after Strategy reported selling BTC worth $2.5 million, flipping from being Bitcoin’s largest hoarder to a seller. 

A whopping $1.78 billion was liquidated from the cryptocurrency market in the last 24 hours, with $1.59 billion in long positions erased, according to…

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USDe Integration Goes Live Next Week For 100 Million Coinbase Users

Ethena founder Guy Young confirmed the integration launches next week, marking the first time Ethena products become available to Coinbase’s full user base. 

The partnership centers on dollar savings products and includes Circle’s (NYSE:CRCL) USDC stablecoin, but the companies have not disclosed the exact structure of the collaboration.

“Given the evolving nature of the CLARITY Act, we expect further potential tailwinds for onchain native products like USDe from idle balances on exchanges, and Ethena is well-positioned to support this transition,” Young posted on X. 

The CLARITY Act will determine whether platforms…

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Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, may have been politically targeted under the Biden administration, according to current Commodity Futures Trading Commission Chairman Michael Selig.

“Politically Targeted”

Speaking on CNBC’s Squawk Box, Selig said the CFTC is attempting to reverse what he described as a flawed enforcement action against Gemini.

The comments mark one of the strongest criticisms yet from a Trump-era regulator against prior U.S. crypto enforcement actions.

“The Biden administration weaponized the federal agencies against the crypto industry,” Selig said. “They politically targeted people like the Winklevoss twins, and that’s not acceptable.”

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Cash Reserve Drained From 21 Months To 6.1 Months

Strategy’s USD reserve, designed to cover preferred stock dividends, stood at $871 million as of May 31, covering just 6.1 months of payments. 

Saylor himself said he wants that number above 18 months.

Annual dividend obligations across Strategy’s four preferred stock series now exceed $1.7 billion, meaning the reserve eroded from over two years of coverage at the start of 2026 to barely half a year today.

The drain happened quickly. Strategy pulled $1.38 billion from the reserve to repurchase $1.5 billion of convertible debt at an 8% discount. 

While the debt buyback made financial sense, it left the dividend buffer dangerously… Read more on Benzinga

Hayes Has $150 Target, Samani Once Called HYPE Everything Wrong With Crypto

The wager carries extra weight given the history between the two. Samani called Hyperliquid “everything wrong with crypto” in February, criticizing its closed-source architecture and accusing the protocol of facilitating illicit activity. 

Despite those public criticisms, on-chain analysts later found wallets linked to Multicoin Capital had purchased over $40 million worth of HYPE.

Hayes has held a $150 price target on HYPE since March, predicting it reaches that level by August 2026 if annualized protocol revenue returns to $1.4 billion. 

He expects the market to rerate the token from roughly 12 times earnings…

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