Stablecoins and crypto regulation dominated the past day, as the Bank for International Settlements issued its strongest warning yet on stablecoin risks, prompting a 15% drop in Circle shares and renewed calls for regulatory action. Congress is nearing approval of a comprehensive stablecoin framework, while the Federal Reserve and global regulators signaled support for clearer oversight. Meanwhile, Telegram shuttered a $27 billion illicit crypto market, driving a surge in rival platforms.
Digital Asset, the developer of the privacy-focused Canton Network blockchain, has raised $135 million in a strategic funding round led by DRW Venture Capital and Tradeweb Markets, with participation from Goldman Sachs, Citadel Securities, BNP Paribas, Circle Ventures, and others. The funding aims to accelerate institutional and decentralized finance adoption of the Canton Network and drive tokenization of real-world assets in the financial sector.
Cathie Wood's ARK Invest sold approximately $110 million worth of Circle (CRCL) shares on June 23, marking continued profit-taking by the firm just weeks after the stablecoin issuer's public debut and following a valuation increase that surpassed Robinhood.
Polymarket, a blockchain-based prediction platform, is reportedly negotiating a $200 million funding round that could value the company at over $1 billion, according to The Information. If finalized, the deal would represent a significant milestone for crypto-native markets in 2025.
Yield.xyz, a rebranded infrastructure company, has secured $5 million in funding from Multicoin Capital. The company aims to address backend infrastructure issues and currently offers over 200 Solana yield integrations.
Bitfinex Securities is introducing two new blockchain-based real world asset (RWA) products in the United Kingdom, taking a different approach from traditional finance institutions such as BlackRock, which have focused on large-scale tokenized money market funds.
Sahara AI, a blockchain project developing a decentralized AI economy, has unveiled its tokenomics, allocating 8.15% of the total SAHARA token supply for airdrops as it prepares for a potential Binance listing.
Ledger has secured its first sports jersey sponsorship through a multi-year agreement with the NBA's San Antonio Spurs. According to CEO Pascal Gauthier, 40% of Ledger's business is in the U.S., and the deal is seen as an opportunity to attract new users.
Predictive intelligence is being highlighted as the next major upgrade for blockchain technology, with advocates emphasizing its potential to anticipate demand, reduce latency, and enhance trust and scalability within blockchain networks.
InfiniFi has launched a protocol that replicates fractional reserve banking onchain, allowing depositors to choose from different yield options while putting associated risks onchain.
BitMart has launched X Insight, an AI-powered intelligence platform that converts real-time social conversations on X (formerly Twitter) into actionable trading signals for the cryptocurrency market. BingX AI evolves into comprehensive crypto trading assistant BingX has advanced its AI-powered trading assistant, BingX AI, into a full-service crypto trading tool, now widely used by millions of users. The company is providing insights into the technology's operation, significance, and distinguishing features as it enters its next development phase.
Binance Alpha has listed Newton Protocol (NEWT), a new blockchain and AI project, and announced an upcoming airdrop of its NEWT token.
Ledger has introduced a new offline physical Recovery Key for its wallets, offering users a tap-to-recover option that does not require identification. Unlike the previously released Ledger Recover service, this new spare key remains offline and is designed to enhance wallet security and simplify recovery. Both the Recovery Key and Ledger Recover are optional, and users can choose either, both, or continue relying on their 24-word recovery phrases.
A wave of mergers, acquisitions, and IPO filings is reshaping the crypto and digital asset industry in 2025, signaling a move toward greater scale, legitimacy, and mainstream adoption. After years of volatility and fragmentation, the sector is increasingly aligning with traditional financial infrastructure and markets, though its defining breakthrough moment is still anticipated.
US President Donald Trump is reportedly considering an executive order that would restrict financial institutions in the United States from debanking key sectors, including the cryptocurrency industry. The move is being closely watched by market participants, as it could provide greater clarity on crypto banking services amid ongoing discussions with the Federal Reserve.
Eight major South Korean commercial banks are collaborating to launch a stablecoin pegged to the Korean won, forming a joint venture with two initial models: trust-based and deposit-linked. The consortium, which includes the country's largest banks, is working with the Open Blockchain and DID Association and the Financial Settlement Institute. The Bank of Korea is advocating for a gradual, phased rollout of stablecoins, recommending that regulated commercial banks be the first issuers. One participating bank has filed stablecoin-related trademarks in preparation for the consortium's activities.
The Bank for International Settlements (BIS) has delivered its most severe warning to date about the dangers associated with stablecoins, asserting that they fail to meet three key tests. The BIS urged countries to accelerate efforts toward the tokenisation of their currencies, highlighting the "transformative" potential of tokenizing central bank reserves, commercial bank money, and other traditional assets.
Shares of stablecoin firm Circle (CRCL) fell 15%, signaling a cooling of its recent stock rally, after the Bank for International Settlements (BIS) issued warnings about the risks associated with stablecoins.
FalconX has joined Crypto.com as a partner for the Lynq institutional settlement network, reflecting growing institutional interest in the crypto settlement sector. This trend is underscored by a 55.5% increase in stablecoin market capitalization over the past year.
Two Republican senators introduced a set of principles for a bill aimed at establishing a legal framework for digital assets, releasing the outline as a hearing on crypto market structure approaches. Despite the significance of the proposed legislation, only five out of 11 senators on the digital assets subcommittee were present to participate in the hearing.
Japan's Financial Services Agency has proposed reclassifying cryptocurrencies as financial products, a move that would allow the introduction of crypto exchange-traded funds (ETFs) and apply a flat 20% capital gains tax on related investments.
Turkey's Finance Ministry is implementing new regulations requiring cryptocurrency platforms to collect information on the source and purpose of transfers. The rules also impose a daily limit of $3,000 on stablecoin transfers, aiming to increase oversight and control within the digital asset sector.
U.S. and U.K. regulators are accelerating unified oversight of digital assets, stablecoins, artificial intelligence in finance, and cross-border innovation. This collaboration aims to reshape global markets and strengthen financial stability, as highlighted in a joint statement issued by the U.S. Department of the Treasury.
New York City Mayor Eric Adams has detailed his plans for cryptocurrency policy, criticizing former Governor Andrew Cuomo's approach to the sector. The announcement comes as city residents participate in the Democratic primary to select their candidate for the upcoming November election.
U.S. Senator Adam Schiff, along with a group of lawmakers, has introduced the “Curbing Officials' Income and Nondisclosure (COIN) Act.” The bill aims to prevent the president, vice president, and their immediate families from using their positions to profit from digital asset endorsements, including tokens bearing their names. The legislation was introduced on June 23 to address concerns over public officials leveraging their roles for personal financial gain through cryptocurrencies.
Representatives from the University of California, Berkeley School of Law, Georgetown University Law Center, the University of Chicago Law School, and venture firm Placeholder met with the US Securities and Exchange Commission's Crypto Task Force on June 23 to advocate for the implementation of stringent rules and oversight for crypto staking activities.
Kevin Muhlendorf, a former DOJ attorney and past SEC senior counsel, has been appointed as the SEC's inspector general effective July 28. SEC Chair Paul Atkins stated that Muhlendorf's oversight experience will help ensure transparency as the agency develops clearer cryptocurrency regulations under its new task force.
After several delays, Congress is close to passing a comprehensive regulatory framework for stablecoins—digital assets pegged to fiat currencies like the U.S. dollar. Stablecoins have primarily been used as a store of value, a medium for digital asset lending and trading, and as entry and exit points to the broader crypto ecosystem.
Turkey is implementing significant changes to its cryptocurrency regulations to prevent the laundering of criminal proceeds from illegal betting and fraud. Finance Minister Mehmet Simsek stated that these steps are aimed at curbing money laundering, illegal gambling, and related criminal activities through crypto transactions.
Federal Reserve Chair Jerome Powell voiced support for cryptocurrency legislation currently before Congress, stating that regulatory clarity would benefit the United States. Powell also reaffirmed that the Fed has no objections to U.S. banks offering services to cryptocurrency companies or engaging in crypto activities, provided they adhere to established risk management and consumer protection standards.
A trojan called SparkKitty is embedding itself in modified TikTok applications and cryptocurrency apps, aiming to steal crypto wallet data from users in China and Southeast Asia.
Coinbase announced it played a key role in helping the US Secret Service seize $225 million in cryptocurrency allegedly stolen by scammers, marking the largest crypto seizure in the agency's history, according to federal authorities.
Israeli security forces have arrested three citizens suspected of spying for Iran. Among the suspects is a 27-year-old Tel Aviv resident who allegedly received cryptocurrency payments for intelligence gathering. Reports indicate that two of the three suspects are accused of receiving crypto payments as compensation for their activities. The suspects are not related to each other.
Telegram has shut down Huione Guarantee, the largest illicit crypto marketplace in history with over $27 billion in transactions. However, the enforcement action led to a 400% surge in volume on rival dark market platforms, which quickly absorbed Huione's criminal user base within weeks.
Trezor has issued a warning after multiple customers received fake emails that appeared to be legitimate support replies. The incident occurred when attackers used Trezor's contact form to submit requests on behalf of customer email addresses, triggering automatic replies from Trezor's system. The company alerted users to the scam via Twitter.
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