JPMorgan Says Strategy's Bitcoin Sales Are a Market Risk | CoinDesk Daily

**Jennifer Sanasie** (0:00)
The US Treasury just froze over 100 ISIS-K crypto wallets and a weak jobs report sends Bitcoin past $61,000.
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RealFi, a smarter stablecoin backed by real-world assets. Visit realfi.co. Lower rates, protected Bitcoin. Ledn's lowest loan rates ever. Check yours at ledn.io. Follow JPEG Trading on X for insights on crypto markets, liquidity and DeFi. JPMorgan says Strategy's new policy of allowing Bitcoin sales to fund preferred stock dividends has introduced two-way risk into crypto markets. Strategy holds about 847,000 Bitcoin and has accounted for about 70% of net digital asset inflows this year, according to the WallStreetGiant. Analysts say Strategy's current 17-month cash cushion isn't enough. They want 24 to 36 months of coverage before investors can feel confident the company won't sell under pressure. OFAC added 134 crypto wallet addresses to its ISIS case sanctions entry, with 131 of them on Tron and three on Monero. The Tron wallets received more than $1.4 million since 2023 Tether froze balances on all 131 addresses immediately. ISIS case media arm has been using websites and messaging platforms to solicit crypto donations across Afghanistan, Pakistan and Central Asia.
And the US added just 57,000 jobs in June, roughly half of what economists expected. May's payroll figure was also revised down from 172,000 to 129,000. The week data reset rate hike expectations. Odds of at least one Fed hike by September dropped to 54% after the report. Get more updates on coindesk.com.