Regulatory and Market Updates
- U.S. Congress Resets Crypto Legislation Timeline
The Senate Republican leadership and the White House agreed to advance market structure and stablecoin bills separately. Senate Banking Committee Chair Tim Scott aims to finalize market structure legislation by late September. - FATF Warns of Cross-Border VA Regulation Gaps
The Financial Action Task Force (FATF) highlighted challenges in VASP licensing and offshore risk oversight, citing North Korean hackers stealing $1.46 billion from ByBit in 2024. - Hong Kong Consults on VA Custody Rules
The Securities and Futures Commission (SFC) proposed licensing frameworks for virtual asset trading and custody providers, aligning with "same business, same risk, same rules" principles.
Project Developments
- Binance Wallet Exclusive TGE: NodeOps (NODE) will debut on PancakeSwap via Binance Wallet on June 30, with Alpha Points required for participation.
- Pump Fun 2.0 Launch: Introduced features like "movers feed" and "tap-to-ape" for instant trading across mobile platforms (excludes UK users).
- Robinhood’s Micro Futures: Added XRP and Solana micro futures contracts, complementing existing Bitcoin and ETH offerings.
Key Data Highlights
- Bitcoin ETFs: Saw $501 million in net inflows yesterday, marking 14 consecutive days of positive flow.
- Cryptocurrency Theft: Over $2 billion stolen in H1 2025, with 80% linked to infrastructure vulnerabilities like private key exploits.
- BlackRock’s Bitcoin Buys: Acquired $1.15 billion worth this week, pushing total holdings to a record $77.7 billion.
- a16z Moves COMP: Transferred 300,000 COMP ($13.75 million) to Coinbase Prime, retaining 500,000 COMP ($22.9 million).
Institutional Activity
- Bitcoin Treasury Corp.: Completed initial phase of BTC accumulation, now holds 771.37 BTC ($51.16 million).
- KraneShares’ ETF Filing: Applied to list a Coinbase 50 Index ETF tracking top 50 digital assets by market cap.
FAQ Section
Q: Why did Ripple withdraw its SEC cross-appeal?
A: Ripple opted to accept the original $125 million civil penalty and maintain the permanent injunction, seeking closure to its prolonged legal battle.
Q: What’s driving BlackRock’s Bitcoin purchases?
A: Institutional demand and strategic portfolio diversification amid BTC’s resilience as a store of value.
Q: How does FATF’s report impact crypto regulations?
A: It urges global cooperation to mitigate risks like money laundering, emphasizing stricter VASP oversight and asset recovery protocols.
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