Category: crypto

Anthropic pre-IPO futures fell up to 9% after their Coinbase debut, with contracts on both Coinbase and Binance hitting fresh lows. Traders are cautious due to the SpaceX pre-IPO contracts trading above the IPO price. Coinbase warned of potential differences in the final IPO price compared to the current futures levels.

SpaceX stock is facing pressure after Susquehanna initiated coverage with a $170 price target and warned about the company’s valuation relying on aggressive growth assumptions. Analysts point to growth drivers but remain cautious, while concerns about future supply dynamics have been raised. ARK Invest continues to buy shares despite the decline.

The European Parliament has approved legislation for a digital euro, moving the EU closer to launching a central bank digital currency by 2029. This comes as the U.S. Senate passed a bill blocking the Federal Reserve from issuing a CBDC until 2030, aligning with President Trump’s support for privately issued stablecoins.

Worldcoin has dropped 15% as Robinhood adds the token to its platform, bringing attention to allegations regarding co-founder Sam Altman. The token is trading around $0.53 and faces selling pressure despite the listing. Worldcoin plans to reduce token unlocks in July, sparking discussions among traders about potential price impacts.

The Ethereum Foundation has reduced its workforce by 20%, cutting 54 jobs as part of a restructuring to focus on long-term development goals. The organization has reorganized into five divisions, with affected employees receiving severance and transition support. This move comes amid leadership changes and technical upgrades in the Ethereum ecosystem.

Meta is developing a prediction market app called Arena to compete with platforms like Polymarket and Kalshi. The app may initially use a points-based system, but real-money wagering is a possibility. Institutional interest in prediction markets is growing, but regulatory challenges are also increasing in various jurisdictions.

The Alliance to End Human Trafficking is urging Senate leaders to reconsider a provision in the CLARITY Act related to decentralized finance, citing concerns about illicit finance. Industry groups support the bill, but unresolved issues remain as Senate negotiations continue amid pressure from various interest groups. Crypto advocates are pushing for the bill’s passage.

Ric Edelman predicts that if the CLARITY Act becomes law, up to 95% of institutions without crypto exposure could enter the market. Regulatory certainty is seen as key, with major financial firms already expanding their blockchain efforts. The legislation faces Senate scrutiny, with concerns raised about anti-money laundering safeguards.

SOIL is preparing to become the first application to use XRP Ledger’s proposed native lending infrastructure. The XLS-65 and XLS-66 amendments would introduce on-chain lending, liquidity pools, and yield products to XRPL. XRP Ledger recently launched version 3.2.0, while XRP price remains near a projected $1 support retest.

Peter Schiff disagrees with Grant Cardone’s plan to combine real estate income with Bitcoin accumulation, stating that rental income from properties can cover costs without the need for Bitcoin. Cardone’s strategy involves using rental cash flow to buy Bitcoin through dedicated investment vehicles, aiming to provide traditional investors exposure to Bitcoin. The debate highlights differing…