Author: John Smith

The Digital Asset Market Clarity Act has cleared the House Agriculture Committee, moving closer to a full House vote. Lawmakers on the House Agriculture Committee voted 47-6 on Tuesday to advance the bill, moving it one step closer to broader congressional review, with Committee Chair GT Thompson confirming it will now head to the full House and that members may submit counterarguments by the end of the week. As the House Agriculture Committee advanced the bill, the House Financial Services Committee held a concurrent session to consider amendments that could reshape key provisions within the bill. One proposed amendment, introduced…

Sui is recovering from consolidation as developments around exchange-traded funds fuel fresh momentum. At press time, Sui (SUI) is trading at $3.46, up 2.1% in the past 24 hours and rebounding from a weekly low of $2.92 on June 6. The dip had been driven by market fallout from the Cetus (CETUS) hack and broader macroeconomic pressures. SUI’s recovery, however, might be aided by fresh institutional momentum.  With a 24-hour trading volume of $1.01 billion, up 300% from the day before, SUI’s market activity has significantly increased. As per Coinglass data, SUI’s derivatives volume rose 6.44% to $5.16 billion, while…

U.S. stocks held steady Tuesday as a second day of trade talks between the U.S. and China got underway in London.  The Dow Jones Industrial Average gained 0.25%, or 105.11 points whille the S&P 500 gained 0.55%. The Nasdaq index outperformed with a 0.63% gain and is now approximately 285 points away from reclaiming the 20,000 leve. Commerce Secretary Howard Lutnick described U.S. – China trade negotiations as going “really, really well,” suggesting a resolution may be close. Export controls remain central to discussions. U.S. officials are seeking Beijing’s release of rare earth materials, while China is pressing for eased…

Solana-based memecoin launchpad and trading platform Pump.fun’s total SOL deposits to Kraken amount to over $660 million: Is this a massive profit cash out or liquidity play? According to on-chain data, Solana-based memecoin generator Pump.fun quietly moved 132,180 Solana (SOL), worth approximately $20.87 million, to Kraken on June 10, sparking speculation about its established pattern of revenue withdrawals to the centralized crypto exchange. The latest transfer brings Pump.fun’s total SOL deposits to Kraken this year to 2,476,697 SOL, valued at $404.64 million. So far, the memecoin launchpad has deposited 3.62 million SOL (about $660.5 million) to Kraken at $182, and…

Open interest in Ethereum has reached an all-time high on Kraken, suggesting coming volatility in either direction. Ethereum (ETH) could soon experience heightened price swings, according to new data from Kraken. Alexia Theodorou, Head of Derivatives at Kraken, said in a June 10 obtained by crypto.news that open interest on Ethereum contracts hit an all-time high, a sign that speculative activity is ramping up. “Open interest in ETH perpetuals on Kraken reached an all-time high of 30,000 ETH earlier this week, signaling a notable uptick in speculative activity around the second-largest cryptocurrency by market cap,” Alexia Theodorou, Kraken. The likely…

Telegram’s reputation as a privacy-first messaging platform is under scrutiny following a new investigation by the Organized Crime and Corruption Reporting Project and Russian outlet Important Stories.  The report reveals that the core infrastructure powering the app is managed by Viktor Vedeneev, a Russian network engineer with deep ties to companies linked to the FSB security agency and Russia’s defense sector. Vedeneev’s company controls thousands of Telegram IP addresses, key servers, and networking equipment. Court records obtained by journalists show that Vedeneev had exclusive access to Telegram’s infrastructure and was authorized to sign contracts on the company’s behalf.  However, the…

The U.S. Securities and Exchange Commission may approve a spot Solana exchange-traded fund within the next few months, according to multiple sources cited by Blockworks.  The SEC has reportedly asked prospective Solana (SOL) ETF issuers to submit amended S-1 registration statements by next week. One source suggested an approval could arrive within three to five weeks. Two sources told Blockworks the agency will provide comments on the updated filings within 30 days. The changes focus on two key areas: how issuers plan to handle in-kind redemptions and whether staking will be incorporated into the ETF structure.  Notably, the SEC is…

Meta hopes to bridge its AI gap with other major tech firms, with CEO Mark Zuckerberg personally assembling an AI “superintelligence group.” Meta is ramping up efforts to control the future of artificial intelligence. According to a June 10 Bloomberg report, CEO Mark Zuckerberg is personally assembling a team of experts for a new division focused on AI research. At the same time, the company has made a $15 billion investment in Scale AI and recruited its CEO, Alexandr Wang. Meta’s “superintelligence group” will focus on outpacing companies like OpenAI, Google, and Microsoft in the race toward artificial general intelligence.…

Can Brian Quintenz steer CFTC’s crypto future without bias? Will his a16z and Kalshi ties raise red flags as the Senate reviews his nomination?   Brian Quintenz faces Senate for CFTC chair role Brian Quintenz, President Donald Trump’s nominee to chair the U.S. Commodity Futures Trading Commission, is scheduled to appear before the Senate on Jun. 10 as lawmakers assess his qualifications to lead an agency preparing for expanded oversight of cryptocurrency markets. The CFTC is currently operating with only two Senate-confirmed commissioners. Rostin Behnam stepped down in February, followed by the departures of Summer Mersinger and Christy Goldsmith Romero by…

Zebec Network price has suffered a sharp reversal this month, erasing a significant portion of the gains made in May. Zebec Network (ZBCN), which aims to become a major player in the payment industry, dropped to $0.0040, down 47 percent from its highest level this year. This decline led to a $317 million wipeout in market capitalization, falling from $537 million to $220 million. ZBCN price has fallen despite several major moves to grow its ecosystem. For example, Zebec acquired Science Card, a fast-growing fintech company with more than 50,000 users in the United Kingdom. Zebec also bought Gatenox, a…