The cryptocurrency sector experienced contrasting developments last month, marked by Bitcoin network challenges, ongoing security concerns, corporate adoption growth, and evolving regulatory frameworks.
Bitcoin’s hashrate declined by 15% during the period, primarily attributed to U.S. summer heat waves straining mining infrastructure. This temporary dip raised concerns about potential short-term network security vulnerabilities despite Bitcoin’s resilient design.
Security breaches continued to plague the industry, with June’s hack-related losses totaling $150 million. Infrastructure-based attacks constituted 80% of incidents, bringing the accumulated losses for the year to approximately $2.15 billion.
Corporate adoption reached new milestones as 26 additional companies globally added Bitcoin to their balance sheets. This expansion brings the total number of businesses holding BTC to 250, signaling sustained institutional interest in cryptocurrency reserves.
Regulatory progress advanced significantly in Asia, with Thailand implementing a capital gains tax exemption for crypto trading on authorized exchanges. South Korea concurrently accelerated its regulatory sandbox initiatives to foster blockchain innovation in controlled environments.
U.S. regulatory developments unfolded unevenly at the state level, where some jurisdictions enhanced legal clarity for cryptocurrency operations while others encountered setbacks in passing supportive legislation.