Morning Minute: Crypto Crashes, New Lows In Sight
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Morning Minute: Crypto Crashes, New Lows In Sight
The structure is explicitly modeled on Strategy’s STRC, meaning Tom Lee is applying Saylor’s preferred stock financing playbook to his Ethereum treasury.
The timing is very interesting as Strategy’s STRC carries 11.5% and has faced real liquidity pressure as of late. After their cash reserves fell to $871 million against $1.7 billion in annual obligations, STRC has traded well below par (sub-$95 yesterday), and Strategy sold Bitcoin last week for the first time in four years to fund dividends.
Tom Lee’s BitMine Plans $300M Preferred Stock Sale for ETH Treasury Push
Bitmine’s position is structurally different. The firm holds 5.42 million ETH (4.5% of Ethereum’s circulating supply) generating over $300 million annually in staking revenue through its MAVAN validators. The staking income funds dividend obligations without touching the principal. Bitmine doesn’t need to sell assets to pay its preferred holders—the assets pay for themselves.
So in theory, this product should be relatively “safe.” But at the same time, it’s a drop in the bucket.
With ETH below $1,828, Bitmine is sitting on an estimated $9 billion in losses from its average accumulation price. An extra $300M in buy pressure isn’t going to do much to fix that…
The World Cup Starts in 7 Days and Crypto Scams Are Heating Up
The 2026 FIFA World Cup kicks off June 11 in Mexico City and runs through July 19 in New York City. Law enforcement agencies are warning soccer fans that the scams targeting them are more sophisticated and more crypto-heavy than any prior tournament.
The FBI, LASD, and Malwarebytes all issued warnings this week. Cybercriminals are creating fake FIFA websites with AI-generated phishing sites that can clone legitimate brands within hours.
Malwarebytes found one site marketing a token as “the official community token celebrating the FIFA World Cup 2026,” complete with a 7-billion-token supply and a participant counter pinned to the symbolic number 48, the count of qualified teams. Another used FIFA’s official mascot to sell an unlicensed token. Bitdefender Labs found more than 55 active football-themed scam campaigns across fake online stores, malicious social media ads, IPTV piracy, and FIFA-themed giveaways.
Malwarebytes’ global head of scam research was blunt: “Scammers love crypto. It helps them remain anonymous and it’s mostly impossible to reverse the transaction. If it has to do with crypto, just stop.”
Macro Crypto and Markets
Someone Just Redeemed a 15-Year-Old Physical Bitcoin, Scoring $1.78 Million in BTC
This article has been published in decrypt.co via Yahoo News.
Morning Minute: Crypto Crashes, New Lows In Sight
Bitcoin falls to $62k and Arthur Hayes selling his HYPE and NEAR position leads to double digit fallout for recent alt darlings.
finance.yahoo.com
