Category: crypto

President Trump supports the CFTC’s authority over prediction markets amid federal and state disputes over regulation. The CFTC argues that prediction market contracts should be under federal oversight, while some states view them as gambling products. The issue may reach the Supreme Court, with Trump’s family ties to the sector under scrutiny.

Base has launched Base MCP, a tool that connects Base Accounts to AI agents for managing crypto actions through chat. Users can swap, transfer, and track wallets with approvals. The system supports various Base apps, with private keys protected. This move reflects Coinbase’s expansion in AI-driven crypto payments, emphasizing user approval in transactions.

Bankless co-founder David Hoffman sold his ETH after realizing that the “ETH is money” thesis has largely played out. He remains optimistic about Ethereum but believes that apps and layer-2 solutions may capture more value directly. Stablecoins, L2 fixes, and ETH treasuries continue to drive activity across the network.

Pro-crypto Democrat Christian Menefee defeated longtime Representative Al Green in the Democratic primary runoff for Texas’ 18th Congressional District. Fairshake-linked PACs backed Menefee and opposed Green, making it a crypto test. Menefee’s victory highlights the influence of crypto policy in Democratic midterm races. Green’s loss may impact crypto policy discussions before the 2026 elections.

BitGo and Silence Laboratories conducted a post-quantum MPC transaction simulation for institutional digital asset custody. The test integrated Silence Labs’ PQ MPC protocol with BitGo’s custody platform to demonstrate how quantum-safe signing can be implemented in existing wallet workflows. This comes as institutions prepare for quantum-capable attacks in the future.

Several cryptocurrency firms, including Galaxy Digital, Gemini, Sharplink, and Bitmine Immersion Technologies, are being considered for inclusion in the Russell 3000 indexes. This could lead to automatic buying from index-linked funds and increased institutional exposure. Galaxy Digital and Bitmine Immersion Technologies may qualify for the Russell 1000 index based on their market capitalizations.

South Korean prosecutors have charged a group involved in a rug pull scam related to the Solana-based meme coin CATFI. The case marks the country’s first DEX rug pull arrest, with 256 investors suffering heavy losses. This enforcement action demonstrates a shift towards cracking down on virtual asset fraud beyond centralized exchanges and influencers.

Crypto security concerns have risen as OpenZeppelin co-founder advised friends and family to exit all DeFi positions, including major lending protocols like Aave, MakerDAO, and Compound. DeFi hacks in April led to $630 million in losses, with vulnerabilities in protocols like Drift and Kelp DAO being exploited. The industry faces ongoing security risks.

China’s top court officials are looking into creating judicial rules for cryptocurrency-related disputes, focusing on virtual currencies and cross-border finance cases. While mainland China continues its crypto ban, Hong Kong is moving forward with stablecoin licensing and virtual asset regulations. Regulators have expanded restrictions on offshore yuan stablecoins and tokenized assets.

South Korea’s domestic crypto trading activity has fallen to 8% of the country’s stock market trading volume in May. This decline is a reversal from December 2024 when crypto trading exceeded stock trading. The decrease is attributed to weaker local demand and stricter regulations on crypto investors and exchanges.