Author: John Smith

JPMorgan, Mastercard, and Ondo settled a tokenized US Treasury on the XRP Ledger in May, in a legal gray zone where no statute defines on-chain settlement. The technology is years ahead of the law. The CLARITY Act is the bill that would let the rest of Wall Street follow. Summary XRP’s settlement thesis is already being tested by major financial institutions. The bottleneck is legal certainty, not whether the technology works. RLUSD gives the XRP ecosystem a credible on-chain dollar leg for settlement. The long-term case depends on whether CLARITY lets pilots become scaled infrastructure. In May 2026, JPMorgan, Mastercard,…

Binance has released its 43rd proof of reserves report, using a June 1 snapshot of user asset balances.  Summary Binance users added 25,838 BTC in May, lifting reported holdings to about 630,000 BTC total. ETH balances rose faster than BTC, climbing 10.17% to about 4.14 million ETH by June. USDT holdings fell by roughly 460 million, pointing to lower stablecoin balances among Binance users. The latest update on the Binance PoR page shows a clear rise in reported Bitcoin and Ethereum user holdings from the prior month. User BTC holdings rose 4.26% from May 1 to about 630,000 BTC. That…

Jack Dorsey’s Block has launched Builderbot, a new AI-native software tool built to support engineering work across the company. Summary Builderbot handles 15% of Block’s production code changes and merges 1,500 pull requests weekly now. Block says Builderbot lets engineers ship cross-service fixes without knowing each codebase first at scale. The rollout links Dorsey’s AI restructuring to real engineering output, not only cost cuts alone. In a Block announcement, the company said the tool now handles about 15% of all production code changes. Builderbot runs more than 200,000 operations per day and merges about 1,500 pull requests each week, according…

Bitcoin has fallen back toward $64,000 after a hawkish Federal Reserve outlook erased a relief rally driven by easing Middle East tensions, with traders now debating whether support near $64,000 can prevent a deeper retracement toward June lows. Summary Bitcoin fell from $66,315 to $64,103 after the Fed projected additional rate hikes for 2026. Liquidation heatmaps show major leverage clusters near $64K–$65K, increasing downside volatility risks. Analysts warn that weak spot demand and continued ETF outflows could expose the $60K support zone. According to data from crypto.news, Bitcoin (BTC) climbed to an intraday high of $66,315 on June 17 before…

Binance has been left relying on France as its last realistic route to secure a Markets in Crypto-Assets license after its expected authorization bid in Greece reportedly stalled ahead of the European Union’s June 30 deadline. Summary The Big Whale reported that Christine Lagarde helped derail Binance’s MiCA application in Greece despite regulatory progress. With the Greek route stalled, France has emerged as Binance’s last realistic option for securing EU-wide authorization. Binance said its application met MiCA requirements and warned approval delays could reduce liquidity and competition. According to a report published Wednesday by The Big Whale, European Central Bank…

Kalshi has fueled a billion-dollar dispute over sports betting regulation as trading activity on its platforms continues to surge. Summary Gaming and tribal groups urged the Senate to block sports-related prediction contracts through the CLARITY Act. The American Gaming Association estimates prediction markets have cost states about $1.08 billion in tax revenue. Kalshi’s crypto perpetual futures platform generated over $5.5 billion in volume within two weeks of launch. According to a report from Semafor, a coalition that includes the Indian Gaming Association, the American Gaming Association, and labor organizations has urged the US Senate to add language to the CLARITY…

The crypto market has remained under pressure even as reports have indicated that a U.S.-Iran agreement is moving closer to completion, with the total crypto market capitalization falling nearly 2% to $2.21 trillion. Summary Trump said a U.S.-Iran agreement could be signed soon, but crypto prices remained under pressure. Bitcoin and major altcoins fell as investors focused on Fed policy and inflation risks. The Federal Reserve kept rates unchanged at 3.50%–3.75%, extending its 2026 policy pause. According to a BBC report, U.S. officials have released details of a proposed memorandum that would extend the ceasefire between Washington and Tehran while…

ASTER has surged more than 20% after Aster unveiled a new tokenomics framework that commits almost all platform fee revenue to daily token buybacks and large-scale supply reductions. Summary ASTER surged over 20% after Aster committed 99% of platform fees to daily token buybacks. Aster plans to cut ASTER supply from 8 billion to 3 billion through ongoing reserve burns. Technical indicators turned bullish as ASTER broke above $0.65 and approached resistance near $0.81. According to a June 17 X post by Aster, 99% of the protocol’s daily fees will now be used to purchase ASTER from the open market…

Illinois has approved a new 0.2% tax on crypto transactions that state officials estimate could generate up to $60 million annually, prompting public criticism from Strategy co-founder Michael Saylor and several industry groups. Summary Michael Saylor called Illinois’ new 0.2% crypto transaction tax a “Big Mistake” after it became law. Industry groups warned the tax could hurt crypto businesses and push innovation outside Illinois. The law requires broker registration and monthly reporting and applies to some out-of-state firms serving Illinois users. In a June 17 X post, Saylor called Governor J.B. Pritzker’s decision to sign the Digital Asset Privilege Tax…

Bernstein has reaffirmed its buy rating on Coinbase and maintained a $330 price target after the company unveiled a series of new products designed to extend its business beyond crypto trading. Summary Bernstein maintained a buy rating on Coinbase and kept its $330 price target after the System Update event. Coinbase unveiled AI-powered trading tools, prediction markets, tokenized stocks, and pre-IPO trading products. Barclays stayed bearish with a $107 target, while Benchmark and Cantor Fitzgerald remained bullish. According to Bernstein, the latest announcements from Coinbase’s System Update event support its long-term bullish view on the company despite a sharp reduction…