Category: crypto

Altcoins on Binance are struggling, with 84% trading below their 200-day averages. This eight-month slump is the second-longest since 2020, indicating broad weakness in the market. Prices show limited rebounds, with Bitcoin and Ethereum levels hovering near $59,464 and $1,588, respectively. Buying opportunities are becoming more selective.

The chances of the CLARITY Act passing before the midterm election are uncertain due to political and procedural hurdles. Senate leaders plan to consider the bill in mid July, but unresolved policy disputes may delay a floor vote. Concerns about ethics rules, money laundering, and Trump’s support are also obstacles.

SBI Holdings has approved a definitive agreement to fully acquire Japanese crypto exchange bitbank, making it a wholly owned subsidiary. The deal, valued at ¥46.7 billion, aims to create Japan’s largest crypto asset platform by customer assets custody. The transaction involves share purchases, new shares, and buybacks, with plans to combine bitbank with SBI VC…

The CFTC is investigating Polymarket’s business activities and social media operations after reports of fake trading videos and influencer promotions. The investigation covers various aspects of the company’s operations, including marketing practices. Polymarket is conducting an audit of its promotional content while facing scrutiny over U.S. market access.

Ripple CEO Brad Garlinghouse criticized Michael Saylor’s Bitcoin strategy, stating that it added pressure to the wider crypto market. Garlinghouse emphasized that long-term value in crypto should come from utility, not complex financial structures. Strategy’s Bitcoin funding model has drawn scrutiny, with questions raised about its cost and impact on the market during downturns.

Azerbaijan has submitted a draft law to regulate virtual assets, requiring all crypto businesses to obtain a central bank license. This legislation, part of the country’s financial market development strategy, includes AML and customer identification requirements. Azerbaijan continues to avoid launching a central bank digital currency while developing crypto market rules.

The XRP Ledger is moving towards a native credit layer with the XRPL Lending Protocol entering validator voting. RippleX aims to introduce credit markets on-chain, separating credit checks from repayment and interest execution. This design targets institutions needing compliant liquidity and asset financing. The mainnet launch is pending validator approval.

Austria has proposed that the European Union host Anthropic after U.S. restrictions limited access to its advanced AI models. The proposal comes amid the EU’s push for stronger AI, cloud, and semiconductor industries. Anthropic also faces legal challenges in the U.S. over claims of misleading subscription usage.

Hyper Foundation is providing $10 million in grants to support builders affected by the USDH sunset, covering migration and wind-down costs. Eligible recipients include HIP-1 and HIP-3 deployers, HyperEVM protocols, USDH bridges, and Native Markets. The grants aim to facilitate a move towards deeper USDC liquidity in the Hyperliquid ecosystem.

Bybit and OKX users increased their Bitcoin holdings in the latest Proof of Reserves reports, while USDT balances decreased. This reflects a trend of users holding more Bitcoin and less stablecoin liquidity on major exchanges. The data shows a shift in user balances towards BTC and away from USDT on these platforms.