Core Viewpoint - The U.S. Supreme Court has rejected Coinbase's request to protect user data from being accessed by the IRS [1] Group 1 - The decision allows the IRS to obtain user data from Coinbase, which may impact user privacy and regulatory compliance [1] - This ruling could set a precedent for how cryptocurrency exchanges handle user data in relation to government inquiries [1]

Core Insights - Bitget, a leading global cryptocurrency exchange, reported a Proof of Reserves (PoR) for June 2025, showing a total reserve ratio of 199%, up from 192% in May, indicating a strong ability to cover user assets well above the industry standard of 1:1 [2][4] Group 1: Reserve Ratios - The platform holds 28,286.53 BTC with user liabilities of 6,593.8 BTC, resulting in a Bitcoin reserve ratio of 429% [3] - Bitget has 1.75 billion USDT in reserves against 1.61 billion held by users, achieving a coverage ratio of 108% [3] - The Ethereum reserve stands at 219,917.71 ETH, with user accounts holding 148,754.3 ETH, leading to a reserve ratio of 148% [3] - USDC shows the highest increase, with 138.88 million USDC held by Bitget against 51.44 million by users, resulting in a reserve ratio of 270% [3] Group 2: Transparency and Security Measures - Bitget implemented the Proof of Reserves mechanism in December 2022 and updates it monthly to ensure transparency and real-time assurance for users [4] - The platform has established a $600 million Protection Fund to enhance user security against extreme market conditions or sudden asset risks [4] - The reserve data is generated using Merkle tree technology, allowing users to independently verify the existence and sufficiency of reserves through an open-source tool [3][4] Group 3: Company Overview - Founded in 2018, Bitget serves over 100 million users across more than 150 countries, offering innovative trading solutions and real-time cryptocurrency price information [5] - Bitget Wallet, previously known as BitKeep, provides a comprehensive suite of Web3 solutions, including wallet functions, token swaps, NFT marketplace, and DApp browser [5] Group 4: Strategic Partnerships - Bitget is the official cryptocurrency partner for La Liga in East Asia, Southeast Asia, and Latin America, and collaborates with top athletes to promote cryptocurrency adoption globally [6]

Core Insights - Bitget, a leading global cryptocurrency exchange and Web3 company, participated as an official sponsor at ETHMilan 2025, showcasing its commitment to mainstream recognition and meaningful industry engagement [2][6] - The event gathered over 1,000 attendees and featured more than 50 speakers discussing significant topics such as DeFi, DAO, Ethereum scaling, and innovative technologies [3] - Bitget's COO, Vugar Usi Zade, highlighted the evolution of centralized exchanges (CEX) and their adaptation to changing regulatory landscapes, emphasizing the importance of dialogue in advancing the cryptocurrency industry [5][6] Company Expansion - Bitget's participation in ETHMilan marks a milestone in its expansion within the European market, having obtained licenses in Italy, Lithuania, and Georgia [6] - The platform serves over 120 million users globally, with a daily trading volume exceeding $20 billion, reflecting its significant market presence [6][7] Industry Engagement - The event served as a platform for industry leaders to discuss compliance, the evolution of CeFi/DeFi, and other cryptocurrency-related topics, fostering collaboration among builders and leaders [5] - Bitget's strategic partnerships, including its role as the official cryptocurrency partner for La Liga in East Asia, Southeast Asia, and Latin America, demonstrate its commitment to promoting cryptocurrency adoption [7]

Group 1 - The Pragmatic Investor focuses on global macro, international equities, commodities, tech, and cryptocurrencies, aiming to guide investors in their investment journey [1] - The platform offers features such as a portfolio, weekly market updates, actionable trades, technical analysis, and a chat room for investor engagement [1] - James Foord, an economist with a decade of experience in global market analysis, leads The Pragmatic Investor, emphasizing the creation of diversified portfolios to preserve and grow wealth [1]

Core Insights - Bitget has officially integrated with India's Sahyog portal, enhancing communication between law enforcement and digital service providers, marking a significant step in collaboration between virtual asset platforms and Indian cybercrime investigation agencies [2][3] - The Sahyog portal allows law enforcement to submit legal data disclosure requests under Indian laws, ensuring that all data requests can be managed through a stable and secure channel [2][4] - The integration reflects Bitget's commitment to compliance with local regulatory expectations and its goal of fostering a transparent and responsible digital asset trading environment [3][4] Company Overview - Bitget, established in 2018, is a leading cryptocurrency exchange and Web3 company, serving over 120 million users across more than 150 countries [5] - The platform offers innovative trading solutions, including copy trading features, and provides real-time cryptocurrency price information [5] - Bitget Wallet, previously known as BitKeep, supports over 130 blockchains and millions of tokens, facilitating multi-chain transactions and direct connections to over 20,000 decentralized applications [5]

Core Insights - Cathie Wood's ARK ETFs have experienced a significant rebound, with most ETFs surging approximately 8% last week, driven primarily by a 30% increase in Coinbase shares following its entry into the stablecoin market [1][10]. Performance of ARK ETFs - The ARK Innovation ETF (ARKK) has faced challenges in recent years, underperforming the S&P 500 after a sharp decline in 2021-2022, largely missing gains from NVIDIA and the AI boom [2]. - Since October of the previous year, ARKK has reached a three-year high, with notable performance from key holdings like Tesla, Palantir Technologies, Coinbase, and Roblox [3][4]. Key Holdings Performance - Coinbase shares surged about 30% last week, with ARK ETFs investing around 8% of their portfolios in COIN shares. The company generates most of its revenue through transaction fees from retail and institutional customers [5]. - Tesla's shares increased by over 2% last week due to optimism surrounding its robotaxi launch, with testing currently underway in Austin, TX [7]. - Roblox shares rose approximately 8.8% last week, outperforming the S&P 500 with a year-to-date increase of 73.5%. The stock's rise followed a strong Q1 earnings report, where revenues reached $1.21 billion, exceeding estimates [8][9].

Group 1 - Bitget has launched a limited-time PRO+2 Level Upgrade Promotion to enhance its offerings for institutional clients and high-frequency traders [2][3] - The Bitget PRO plan introduces a dynamic tiered system that simplifies access to lower fees, optimized API limits, exclusive loans, custody services, and higher withdrawal limits for institutional clients [2][4] - The PRO+2 Level Upgrade Promotion will run from July 2, 2025, to August 31, 2025, allowing eligible users to upgrade their trading capabilities based on their June trading volume [3][4] Group 2 - The promotion allows traders to upgrade two levels based on their trading volume, with new users able to submit past trading activity or asset holdings for equivalent upgrade benefits [3][4] - Eligible users can unlock benefits associated with the highest PRO6 level, including top-tier fee discounts, deeper liquidity, and personalized institutional support [3][4] - Bitget PRO plan automatically assigns levels based on a user's 30-day API trading volume, with a requirement that at least 20% of trades be conducted via API for levels PRO1 and above [4] Group 3 - Earlier this year, Bitget introduced institutional loan services with a maximum leverage of 5 times for spot trading, enhancing its institutional offerings [4] - The company aims to support professional traders with flexible and secure solutions, including unified accounts and enhanced OTC services [4] - Bitget, established in 2018, serves over 120 million users across more than 150 countries, focusing on innovative trading solutions and partnerships to promote cryptocurrency adoption [5]

Core Insights - The article emphasizes the importance of generating alpha through independent investment strategies, focusing on a generalist approach across various sectors with potential alpha compared to the S&P 500 [1]. Investment Strategy - The investment strategy involves managing a family portfolio primarily through a Self Managed Super Fund, with a typical holding period ranging from a few quarters to multiple years [1]. - The research methodology includes building comprehensive spreadsheets that track historical financial data, key metrics, guidance trends, and performance indicators [1]. Research Approach - The analysis does not heavily rely on Discounted Cash Flow (DCF) models for long-term projections, instead focusing on assessing a company's historical performance and outlook on five key drivers: revenues, costs and margins, cash flow conversion, capital expenditures, and interest rates [1]. Market Positioning - The article indicates a potential interest in initiating a long position in COIN within the next 72 hours, suggesting a proactive approach to investment opportunities [1].

Group 1 - The crypto space is experiencing significant growth in importance, indicating potential investment opportunities for individual investors [1] - PropNotes focuses on identifying high-yield investment opportunities and simplifying complex concepts for better investor understanding [1] - The analysis provided by PropNotes aims to assist investors in making informed decisions backed by expert research [1] Group 2 - The article expresses a beneficial long position in the shares of COIN, highlighting a positive outlook on the company's stock [2] - The author emphasizes that the opinions expressed are personal and not influenced by any compensation from companies mentioned [2] - There is no business relationship disclosed with any company whose stock is referenced, ensuring an unbiased perspective [2]

Core Insights - Bitget has received regulatory approval in Georgia to operate as a digital asset exchange and custodial wallet service provider, marking a strategic expansion into Eastern Europe [2][3] - Georgia is emerging as a significant hub for cryptocurrency innovation, with a favorable regulatory environment and strong support for blockchain companies [2][3] - Bitget's expansion aligns with its broader strategy to enhance its influence in markets that support responsible innovation and regulatory transparency [3][4] Company Expansion - Bitget has successfully registered in multiple jurisdictions across Europe, Latin America, and Asia-Pacific, including Australia, Italy, Poland, Bulgaria, Lithuania, and the Czech Republic [4] - The company has also obtained licenses in El Salvador and completed registration in Argentina, indicating its intent to penetrate markets that could drive the next wave of cryptocurrency adoption [4] - Each new license signifies a step forward in Bitget's global strategy to integrate cryptocurrency into everyday infrastructure through high-quality products and compliance with local regulations [4] Industry Context - The Eastern European region is increasingly important for digital asset platforms as cryptocurrency adoption accelerates [3][4] - Georgia's proactive policies in aligning with global financial standards and its emphasis on the potential of the emerging cryptocurrency sector are noteworthy [2][3] - The regulatory transparency in jurisdictions like Georgia helps ensure that companies can pursue growth while maintaining accountability [3]