Bitcoin fell below $63,000 on Monday, influenced by rising oil prices and declining equity futures following U.S. strikes on Iran. Factors like thin weekend trading and fund flows also contributed to the drop, with Bitcoin nearing $60,000.
Interpol reported a crypto wallet linked to a 20-year-old fraud suspect processed over $122.5 million in 10 months. Thai police arrested two individuals in a money-laundering probe involving romance-scam proceeds moved via crypto and cross-chain swaps, complicating investigations.
A US prisoner serving time for money laundering allegedly moved $290,000 in cryptocurrency in January 2024 after a court ordered the assets forfeited, highlighting a gap in government control over digital assets.
XRP demand is showing signs of weakening, with significant outflows from US spot ETFs and a decline in futures open interest. XRPL activity also shows reduced user participation, though institutional adoption of the ledger for tokenized assets is growing, potentially reviving demand for XRP.
US spot Bitcoin ETFs recorded their first weekly net inflow in over two months, attracting $197 million and ending an eight-week streak of outflows. Bitcoin prices rose 3% to over $64,000. Spot Ethereum ETFs also saw inflows, suggesting reduced investor aggression in crypto exposure.
Cantor Equity Partners I and BSTR have halted Adam Back's 30,021-BTC treasury deal, citing the need to revise terms to reflect current market conditions. The companies are renegotiating financing, postponing a shareholder meeting and returning redeemed shares.
Tokenized sovereign debt, once a niche concept, is maturing into a functional market with real products like Ondo's OUSG fund. These tokenized claims on short-duration government exposure are gaining scale, with OUSG holding $407.24 million and investing in other tokenized Treasury products, indicating a shift towards portfolio building blocks.
American Bitcoin's strategy shows a growing Bitcoin treasury (8,000 BTC) but a declining share price, exacerbated by a 1-for-15 reverse stock split aimed at meeting Nasdaq requirements. The company relies on mining for BTC acquisition, but faces significant net losses and negative EBITDA, raising questions about its valuation despite reserve growth.
The SEC is reviewing 'novel' ETFs, including crypto, single-stock, and leveraged products, to assess risks associated with complexity and derivatives within familiar wrappers. The agency questions whether existing rules adequately protect investors who may treat these complex products as simple.
Donald Trump's latest financial disclosure reveals a complex interplay between digital-asset policy, personal finances, branded tokens, and presidential power, highlighting a governance problem where crypto's rapid value conversion amplifies the overlap between public action and private benefit.
Hong Kong is positioning itself as a key hub for non-dollar financial activities, expanding yuan business facilities and bond connect quotas, and trialing a gold clearing system. This initiative aims to make yuan funding, gold settlement, and access to Chinese capital markets easier for institutions, offering an alternative to dollar-dominated systems.
AI infrastructure providers like CoreWeave are securing massive funding, including a recent $3.1 billion loan, due to predictable revenue and physical collateral, contrasting with Bitcoin's decline despite global liquidity growth. Investors favor AI's tangible assets and multiyear contracts over Bitcoin's volatile, non-yielding nature.
Circle has received final OCC approval to establish Circle National Trust, a national trust bank. However, it cannot accept deposits, make loans, or offer retail banking services. Its primary function will be fiduciary digital-asset custody, with potential future expansion to institutional clients and USDC reserve management.
AscendEX ceased operations on July 1, leaving customers uncertain about recovering their funds. The exchange cited a lack of EU authorization and financial/operational pressures, including a failed liquidity transaction. Withdrawals are now manually reviewed, with delays, rejections, and potential loss of full balances.
Hong Kong crypto platforms have until July 8, 2027, to replace one-time passwords (OTPs) with stronger security measures for client logins and device registration. The SFC requires firms to adopt authentication resistant to phishing, citing past fraud campaigns where OTPs were compromised. Licensed virtual asset service providers and internet brokers must implement these changes, with larger firms expected to act immediately.
Terraform Labs' bankruptcy court has permitted the Plan Administrator to use Jump Trading documents in a lawsuit seeking at least $4 billion, while rejecting four late crypto-loss claims. The ruling allows evidence use but does not determine Jump's liability or creditor recovery amounts.
The SEC has scheduled three crypto-related rule proposals for July, focusing on token offerings, broker-dealer custody, and trading venues. These proposals could advance the regulatory process before Congress decides on the CLARITY Act, potentially shaping the future of crypto regulation in the US.
Over 24 proposed prediction market ETFs from issuers like Roundhill and Bitwise remain stalled by the SEC, which is scrutinizing fund mechanics and investor disclosures. These ETFs aim to track outcomes of elections, cryptocurrency prices, and commodity values, but regulatory uncertainty delays their market entry.
Phantom and the Hyperliquid Policy Center are asking the CFTC to remove regulations they claim hinder fintech firms from partnering with registered derivatives markets. They propose a model where non-custodial wallets provide technical access to markets without triggering broker registration.
JPMorgan warns that Wall Street's move to private blockchains for tokenization and payments could drain liquidity from Bitcoin and other public crypto assets. While banks build closed networks, Bitcoin's scarcity and independence offer a counter-narrative, potentially increasing its value as an asset outside institutional control.
A lawsuit seeking ownership of dormant Bitcoin addresses has dropped 44 defendants who moved funds after the case filing. The case questions if blockchain inactivity signifies abandonment, with a pseudonymous defendant challenging the plaintiffs' claims and notice process.
New Hampshire's Executive Council voted 3-2 to reject a $100 million Bitcoin-backed municipal bond proposal. The decision halts a plan to use BTC collateral within a state-linked public finance structure, raising questions about public finance officials' readiness to legitimize crypto collateral.
A New York federal court denied KalshiEX's request for an injunction against state gambling law enforcement on sports-event contracts. The decision allows states to regulate these contracts while federal rules are pending, creating a two-track access risk.
A New York federal court denied KalshiEX's request for a preliminary injunction against state gaming officials enforcing gambling laws on sports-event contracts. The decision allows states to regulate these contracts while federal rules are developed, creating a two-track access risk.
