US Senator Cynthia Lummis expects Congress to pass two big crypto bills—the CLARITY Act and GENIUS Act—by the end of 2026. The proposed laws will bring clear rules for stablecoins and digital asset markets, a long-awaited move towards federal crypto regulation. What Happened Speaking Wednesday at the Bitcoin Policy Summit in Washington, D.C., Senator Cynthia … Read more
Kalshi raises $185M, valued at $2B. Big win for regulated event-based trading in the US. What Happened Kalshi, a US-regulated prediction market, closed a $185M funding round led by Paradigm, with participation from Sequoia Capital, Multicoin Capital, and others. The Wall Street Journal reported the raise yesterday. CEO Tarek Mansour said the company will use … Read more
A U.S. judge said new crypto laws could impact the case against Terraform Labs co-founder Do Kwon. The GENIUS Act is moving through Congress and could redefine how stablecoins like TerraUSD are treated under U.S. law. What Happened At a status conference Wednesday in New York’s Southern District Court, Judge Paul Engelmayer said he was … Read more
Germany’s BaFin has closed its case against Ethena GmbH after agreeing to a 42-day redemption plan for USDe holders. The move ends a months-long regulatory standoff and clears the path for a wind-down of Ethena’s German operations. What Happened On Wednesday, Ethena Labs said it reached an agreement with Germany’s financial regulator, BaFin, over the … Read more
A7A5, a ruble-backed stablecoin launched in Kyrgyzstan, is reportedly facilitating billions in trades on Grinex—a platform suspected to be the successor to sanctioned exchange Garantex. $9.3B in Transactions, Just 124 Wallets A7A5 has processed $9.3 billion in transactions through the crypto exchange Grinex, according to a new Financial Times report. What’s raising eyebrows is that … Read more
ProCap BTC just made its first big move—buying 3,724 Bitcoin for $386 million, the firm announced today. The purchase came less than 48 hours after ProCap announced plans to go public through a SPAC merger later this year. The Bitcoin was bought at a time-weighted average price of $103,785, and its value has already climbed … Read more
Eight major South Korean banks are joining forces to launch a won-backed stablecoin by 2026. The move is to reduce dependence on the US dollar in digital finance and make Korea a global crypto player. South Korea’s Banks Enter the Stablecoin Game A group of South Korea’s biggest banks is preparing to launch a stablecoin … Read more
Bitcoin ETFs See Record $588M June Inflow, 11-Day Streak Bitcoin ETFs had their best June day ever—$588.6 million—11 days in a row. The rally follows a Middle East ceasefire, easing market fears and crypto demand. Bitcoin ETFs Pull in $588M, Led by BlackRock U.S. spot Bitcoin ETFs had their best June day on Tuesday, $588.6 … Read more
Bitcoin’s hashrate fell 15% from June 15 to 24, the biggest drop in 3 years. The decline is sparking talk of mining slowdowns due to rising power costs, extreme heat, and possible geopolitical fallout. What Happened Bitcoin’s network hashrate dropped from around 943.6 EH/s to 799.9 EH/s in 9 days, according to Blockchain.com. That’s a … Read more