Stablecoins
Regulation
Fed joins regulators dropping reputational risk factor, clearing banks to serve crypto firms
The Fed memo follows FDIC and OCC decisions to also remove the reputational risk from their oversight frameworks.
Legislation
Texas could potentially invest up to $2.1B in Bitcoin if it allocates 10% of its treasury fund
The amount could grow to $2.2 billion with New Hampshire and potentially higher once Arizona discloses the confiscated Bitcoin it holds.
Hacks
North Korean dev hijacks dormant Waves repositories, slips credential-stealing code in wallet updates
The account pushed updates into Keeper Wallet repositories that could send seed phrases to threat agents if installed.
Analysis
10-year Bitcoin holdings grow faster than daily issuance, marking scarcity signal after 2024 halving
The "ancient supply" turned positive in April 2024, beating daily issuance by 116 Bitcoin.
Payments
Coinbase launches stablecoin payment stack with USDC checkout targeting commerce giants
The platform comes one week after announcing a partnership with Shopify.
Stablecoins
Circle stock leaps to $200 record after 34% daily gain
Besides CRCL, Coinbase and Robinhood shares also climbed on the GENIUS Act progressing in the Congress.
Stablecoins
Distribution or death: Arthur Hayes says only exchange-backed or bank-linked stablecoins can thrive
The BitMEX co-founder argued in a recent post that the stablecoin game is locked by new and old consolidated players.
Banking
DAMA 2: Deutsche Bank unveils institutional tokenization stack to fast-track regulated funds
Axelar Network and Memento Blockchain add interoperability and security through their tech infrastructures.
Legislation
US Senate approves landmark GENIUS Act for stablecoin regulation
Senate's approval of the GENIUS Act could position stablecoin issuers as leading holders of US Treasuries by 2030.
Market
Bitcoin’s slide below $104k liquidates over $500M as war tensions escalate
Despite a 2% daily retraction, Bitcoin registered relatively strength, as major altcoins corrected up to 6% in the same period.
Banking
JPMorgan pilots tokenized deposit token on Base, targeting instant dollar transfers
The JPMD, registered on June 16, represents a claim on deposits held at the bank and differs from stablecoins that rely on segregated securities reserves.
Legislation
Treasury Secretary Bessent says stablecoins are debt relief engine as Senate readies to vote on GENIUS Act
Scott Bessent said predictions that stablecoins will reach $3.7 trillion market cap by 2030 become more likely with a GENIUS Act approval.
