The crypto market endured nearly $1 billion in liquidations as macroeconomic uncertainty and the Trump-Musk feud rattled investor confidence, amplifying volatility. Stablecoin adoption is accelerating with tech giants like Apple and Google reportedly evaluating integration, a trend reflected in Circle's 41% surge on its NYSE debut as Ark Invest made a major buy. Following Circle's NYSE debut success, Gemini confidentially filed for a US IPO.
The crypto market suffered nearly $1 billion in daily liquidations, with overleveraged long positions particularly impacted. Analysts attributed the volatility to macroeconomic uncertainty and a public dispute between U.S. President Trump and Elon Musk, which further destabilized sentiment. Adding to the tumult, X announced a partnership with Polymarket, underscoring ongoing industry developments during a period of heightened market stress.
Circle Internet shares surged 41% to a record high after their highly anticipated New York Stock Exchange debut, reflecting robust investor enthusiasm for the stablecoin issuer. On the first day of trading, ARK Invest purchased nearly 4.5 million Circle shares valued at $373 million, underscoring significant institutional interest. The combined retail and institutional demand highlights strong confidence in Circle's prospects as a newly public company.
Orange Cap Games acquired Moonbirds IP from Yuga Labs, triggering the NFT collection's largest sales surge in months. The acquisition has renewed interest and activity in the Moonbirds market.
Jonathan Mann earned $3 million from NFT sales, only to see it wiped out by taxes and a crypto market crash. He has since turned his experience into a candid song about the pitfalls of crypto earnings.
Mythical Games will launch the blockchain-based mobile game 'FIFA Rivals' on June 12, featuring Adidas digital assets. This collaboration brings branded digital items into the FIFA crypto gaming experience.
Stablecoins are moving closer to mainstream adoption, with major tech firms such as Apple, Airbnb, Google, and X reportedly exploring their integration to lower payment costs. This trend has fueled a 40% surge in Circle's value and highlights growing interest in crypto-based payments. However, as stablecoins become more intertwined with traditional finance, segments of the US Treasury market—particularly short-term securities—may experience increased volatility due to their closer ties with digital assets.
Deutsche Bank is evaluating stablecoin technology and tokenized deposits as part of its digital assets strategy, considering either launching its own solution or joining an industry consortium. This move aligns with broader trends among major banks exploring blockchain infrastructure for payments and settlement.
Dubai's real estate market reached $18.2 billion in sales in May, driven by increasing adoption of tokenization, supportive regulations, and a record $3 billion blockchain property deal.
Crypto firm Gemini has confidentially filed for a US initial public offering, signaling renewed investor interest as market conditions improve. The move reflects growing momentum among digital asset companies seeking to capitalize on favorable sentiment.
Tigran Gambaryan, Binance's former head of financial crime compliance and ex-U.S. federal agent, has departed the crypto exchange following his nearly year-long detention in Nigeria.
Coinbase has reduced unnecessary account restrictions by 82%, according to CEO Brian Armstrong. The improvement is credited to advances in machine learning models and infrastructure, though some reports note user trust remains fragile.
Britain's financial regulator will remove its ban on retail investors buying crypto exchange-traded notes (ETNs), reversing its previous stance and opening access to these products for consumers.
Europe plans to regulate decentralized finance in 2026, but lawmakers are still struggling to define decentralization under MiCA, according to an EU crypto policy expert. The sector remains in regulatory limbo as the region works toward a clearer framework.
Switzerland's Federal Council plans to enforce automatic crypto tax information exchange with 74 partner nations by late 2026, with the first data exchange expected in 2027. This move aims to enhance global tax transparency in the crypto sector.
Crypto faces a defining moment in policy as regulatory uncertainty and enforcement actions give way to new legislative momentum. Industry leaders and policymakers are pushing for fast-track rules and advancing key legislation that could shape the future of digital assets.
Crypto is now mainstream, but CPAs are still catching up on how to advise clients. As adoption accelerates, professionals must adapt to new challenges and opportunities in digital assets to serve clients effectively.
AI, blockchain, and drones are driving a revolution in agriculture, reducing costs, lowering emissions, and attracting global investment across 490,000 acres of smart farms.
Get access to institutional-grade market intelligence every weekday in your email: