Strategy sells Bitcoin for the first time in four years, and Jamie Diamond escalates battle over

stable coin rewards. This on CoinDest Daily.

Strategy sold 32 Bitcoin between May 26 and May 31st. This is the company's first Bitcoin

sale since 2022. The 32 coins went for 2.5 million

at an average price of $77,135. Proceeds are earmarked to fund distribution on strategy's preferred

stock. The firm still holds 843,706 Bitcoin, but the largest cryptocurrency by market cap has dipped below 72,000

following the news.

J.P. Morgan's CEO, Jamie Diamond, warned that the Clarity Act will fail if lawmakers don't

address bank concerns over stable coin yield.

Diamond said, quote, the banks will not accept it that way.

The fight centers on whether

crypto firms can pay yield on stable coin holdings, something that competes directly with

traditional bank deposits. Diamond reportedly told Coinbase CEO Brian Armstrong, you are full

of shit at Davos earlier this year. And Citi projects the tokenized asset market will

grow from $17 billion today to $5.5 trillion by 2030. The report calls it a tipping point. The DTCC

begins limited production trades of tokenized securities in July, and NASDAQ is targeting

blockchain-based stock issuance by 2027.

City expects stable coins alone to create $1 trillion in new demand for U.S. government bonds

as issuers back their digital cash with treasuries.

Get more updates on coindex.com.