Live markets: Japan's collapsing yen is pushing companies into bitcoin and XRP

live Updated just now Live markets: Japan's collapsing yen is pushing companies into bitcoin and XRP Hedge funds have turned the most bearish on the yen since 2007, boosting bets on further losses to nearly 138,000 contracts as of June 30. By Shaurya Malwa Make preferred on Share Share this article Copy link X icon X (Twitter) LinkedIn Facebook Email just now · 5:29 AM Shaurya Malwa Share Share this post Copy link X icon X (Twitter) LinkedIn Facebook Email Japan's collapsing yen is pushing companies into bitcoin and XRP The yen is trading near its weakest level in four decades, and Japanese companies are moving crypto onto their balance sheets to escape it. SBI VC Trade on Tuesday said corporate demand for bitcoin and XRP is climbing as the currency's slide pushes firms to diversify reserves beyond cash, with the exchange's registered accounts passing 2 million, roughly double its 2025 count. Hedge funds have turned the most bearish on the yen since 2007, boosting bets on further losses to nearly 138,000 contracts as of June 30, per CFTC data. The dollar buys around 162 yen as of Asian morning hours Wednesday. The driver is the interest-rate gap between a hawkish U.S. Fed and a Bank of Japan still far behind it, the same gap that makes holding yen cash a losing position and sends firms looking for harder assets. SBI, the crypto arm of Tokyo-based SBI Holdings, noted demand for its corporate service has grown alongside companies that hand out bitcoin or XRP through shareholder-perk programs. The move fits a pattern the market has watched all month. A weak yen has fed the carry trade, where investors borrow cheaply in yen to buy higher-returning assets elsewhere, and some of that flow is now reaching crypto through regulated Japanese channels rather than offshore ones. Bitcoin traded near $62,650 on Tuesday, up 6.1% on the week, per CoinDesk data. Latest Crypto News 1 Bitcoin under pressure as U.S.-Iran escalation lifts oil 59 minutes ago 2 BlackRock-backed Securitize slides 40% after SPAC debut despite tokenization boom 9 hours ago 3 Crypto exchange Kraken is trying to become a bank in Europe 10 hours ago 4 SpaceX IPO powers record $3.86 billion in tokenized equities trading in June 13 hours ago 5 U.S. SEC to propose crypto rule as soon as this month to ease startups, fundraising 13 hours ago 6 Analysts see more upside for SpaceX as post-IPO research begins 14 hours ago 7 Vanguard opens search for digital assets leader in sign of evolving crypto strategy 15 hours ago 8 AI trade loses steam as infrastructure boom faces reality check 15 hours ago 9 EDX Markets raises $76 million in funding round led by SBI Holdings 15 hours ago 10 Former Tether investment chief is looking to sell part of his stake in the stablecoin giant: Bloomberg 15 hours ago Latest Research SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls SpaceX IPO Drives Tokenized Equity Volumes to Record as Stablecoin Market Cap Falls Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. By CoinDesk Research 16 hours ago Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. Why it matters : Stablecoin market cap fell to $312B in June, its largest monthly drop since TerraUSD, while tokenized equity volumes surged 145% to a record $3.86B. View Full Report More From Tech Live markets: Iran returns to the headlines, hitting markets Ethereum developers embrace Vitalik Buterin's long-term vision but urge quicker execution Vitalik Buterin says Ethereum is preparing its 'biggest rebuild' since the Merge