Latest Crypto News & Market Updates

USDT Exits EU Markets Today as MiCAs Final Curtain Falls on Tether

In recent news waves, the EUs $USDT MiCA ban is currently taking effect. July 1, 2026 marks the hard deadline for the blocs Markets in crypto-assets rules, and Tether, with its $186 billion $USDT, has officially lost the spot on regulated European exchanges. Coinbase, Kraken, and Crypto.com, which are MiCA licensed, have already pulled $USDT out of their EU order books. The worlds largest stablecoin by market cap now has no compliant pathway onto any EU-regulated platform.

07-02Exchange

OUSD stole Hyperliquids homework — then hit Circle with it

Yesterday, a massive new competitor, Open USD (OUSD), arrived to displace Circle Internet Group, issuer of the world‘s second-largest stablecoin, $USDC. Behind its glamorous roster of financial titans was a stablecoin inspired by Hyperliquid’s USDH.　　The list of OUSD backers is long and powerful; a who‘s who of the world’s largest payments conglomerates.　　It reads as though a crypto investor wished on a star and every dream came true.　　Visa, Mastercard, Discover, American Express, Stripe, BlackRock, BNY, Google, Samsung Electronics, IBM, Shopify, Western Union, MoneyGram, Coinbase, OKX, Ripple,and MetaMaskall appeared on the press release.　　The consortium will cooperatively benefit from the interest on reserves backing OUSD. HyperLiquid popularized this idea of shared revenue from stablecoin reserves when it launched its USDH.　　Circles common stock collapsed by 17% on Tuesday, erasing $3.3 billion in market capitalization in less than seven hours.　　Behind it all was a Hyperliquid-inspired stablecoin model.　　How OUSD cost Circle $3.3 billion in one day　　Hyperliquid is an upstart competitor of Binance and other crypto exchanges.　　It made a media splash in 2025 due to controversial features like influencer-backed copytrading funds, highly leveraged trading pairs, and a leaderboard of degeneracy.　　As Hyperliquid grew, it decided to launch its own blockchain and stablecoin, USDH.　　Embracing an unconventional go-to-market strategy, Hyperliquid

07-02Exchange

Ripple President Reveals What's Next for XRP in Global Payments Race

Ripple President Monica Long recently shared a vision for the future of digital payments. “The future of payments will be multichain, interoperable, and built on institutional-grade blockchain infrastructure,” said the Ripple President.　　The future of payments will be multichain, interoperable, and built on institutional-grade blockchain infrastructure.　　Our focus is simple: continue making the XRPL the leading blockchain for institutional payments – and a natural home for the next generation of key regulated… https://t.co/8Pc5Yleskr　　— Monica Long (@MonicaLongSF) June 30, 2026　　Long was reacting to recent developments, including Ripple joining the Open USD stablecoin as a day-one integration partner, highlighting the companys commitment to open, multichain infrastructure that supports institutional adoption across the digital asset ecosystem.　　Open USD, a dollar-pegged stablecoin, was launched by a consortium of more than 140 financial and technology companies, including Visa, Mastercard, Stripe and Coinbase, on Tuesday.　　The roll call of backers resembles a cross-section of Wall Street and Silicon Valley. Ripple, BlackRock, BNY, Standard Chartered, Google and Shopify are all listed as founding partners.　　With financial institutions showing growing interest in blockchain-based settlement and regulated stablecoins, Ripple President Long highlights the companys long-term strategy for expanding the role of the $XRP Ledger, $XRP and $RLUSD in institutional finance.　　$XRP, XRPL and $RLUSD vision

07-02Exchange

Cloudflare Launches Monetization Gateway for Stablecoin Payments via x402

Cloudflare opened a waitlist Wednesday for its Monetization Gateway, a new tool letting customers charge for any web page, dataset, API or MCP tool sitting behind its network. Payments settle in stablecoins over the x402 protocol.　　The announcement came from Cloudflares official X account Wednesday morning. Cloudflare, which says it handles roughly a fifth of global Internet traffic, is building on x402 through the x402 Foundation, the standards group the Linux Foundation launched in April.　　Agent-Driven Web Traffic　　Cloudflare pitched the product around AI agents replacing human visitors as the webs dominant traffic source, arguing that shift makes per-seat and subscription pricing a poor fit for machine-to-machine transactions, since an agent reads a page or calls an API once rather than maintaining a monthly account. The same agent-traffic surge is what pushed rival infrastructure providers toward per-request billing over the past year.　　The Monetization Gateway gives site operators a single control plane to set payment policies and enforce them at Cloudflares network edge, before a request reaches the origin server. It is Cloudflares answer to a problem stablecoin rails have targeted for over a year: collecting sub-cent payments cheaply enough that the transaction cost does not exceed the payment itself.　　Papper Joins From Syndicate　　Will Papper

07-02Exchange

JD Vance Quietly Doubles Down on Bitcoin, Filing Shows Stake up to $500K

JD Vances Bitcoin Bet Grows Five-Fold Since His First Senate Disclosure　　The filing, an OGE Form 278e, listed “ bitcoin” under Part 6, Other Assets and Income. Vance holds the position through a Coinbase account. The form shows no reported income from the holding or income under $200.　　OGE rules require filers to report values in broad brackets rather than exact dollar amounts. Vances disclosure does not state how much bitcoin he owns, when he bought it, or its current market value.　　A Growing Position　　Vances bitcoin position, however, has grown since he first disclosed it. As a Senate candidate in 2022, he reported a bitcoin cache held on Coinbase worth $100,001 to $250,000. By his 2024 vice presidential nominee filing, the range had moved up to $250,000 to $500,000, where it remains in the new filing.　　Vance spoke about his bitcoin ownership at the Bitcoin 2025 Conference in Las Vegas last May. He told the crowd he was one of the only candidates running for office who actually owned bitcoin when he ran for Senate. He said he still owns a fair amount of bitcoin today.　　The Rest of the Portfolio　　The bitcoin holding sits inside a much larger financial picture. Propublica‘s review of the same

07-02Exchange

CRCL to $190 Remains The Target Despite Tuesday's 17% Crash, Bernstein Writes

Circle Internet Group(NYSE:CRCL) on Tuesday crashed 17% after a 140-company coalition launched Open USD, a rival stablecoin designed to split reserve yield with distribution partners instead of keeping it.　　Why OUSD Is A Direct Threat To Circles Business Model　　Circle makes roughly 99% of its revenue from interest earned on $USDC(CRYPTO: $USDC) reserves.　　Open USD targets that exact revenue stream by paying yield directly to its distribution partners, which include Visa(NYSE:V), Coinbase(NASDAQ:COIN), and BlackRock(NYSE:BLK), the same companies that currently distribute $USDC.　　Coinbase is one of $USDCs biggest distributors and now backs a direct rival that pays them a cut of the revenue Circle currently keeps, giving those partners a financial incentive to push OUSD over $USDC going forward.　　Why OUSD Is A Direct Threat To Circles Business Model　　Circle makes roughly 99% of its revenue from interest earned on $USDCreserves.　　Coinbase is one of $USDCs biggest distributors and now backs a direct rival that pays them a cut of the revenue Circle currently keeps, giving those partners a financial incentive to push OUSD over $USDC going forward.　　Circle‘s CEO Fired Back, Pointing To $USDC’s Dominant Network Effects　　Circle CEOJeremy Allaireresponded on X, arguing $USDC already controls 80% of all dollar stablecoin transactions on blockchains in Q1 2026, processing nearly

07-02Exchange

Ethereum Institutional launch draws support from across the Ethereum ecosystem

Spark CEO and co-founder Sam MacPherson said the significance lies less in the creation of another organization and more in what it signals about Ethereums evolution.　　“The interesting signal isnt the organization itself,” he said. “Its that Ethereum is reaching a level of maturity where multiple independent groups are investing in its long-term development. As institutional participation grows, that kind of distributed stewardship will become increasingly important to supporting the next phase of the ecosystem.”　　Asset management firm Bitwise CIO Matt Hougan echoed the development with praise, describing it as an example of Ethereums decentralized ecosystem adapting and strengthening over time.　　“Its kind of awesome to watch a decentralized system heal itself and find ways to make progress,” Hougan wrote on X. “Inspiring stuff.”　　Taken together, the reactions highlight a common theme: supporters see Ethereum Institutional not as a new center of power, but as another independent organization helping position Ethereum for its next phase of institutional growth.　　Read more: Ethereum gets a new nonprofit focused on institutional adoption

07-02Industry

Ethereum at $1.5K: A tense stand-off forms, with ETH shorts under pressure

One look at the technicals is enough to show how bearish the market has turned. Nothing reflects this better than Ethereum.　　According to CoinGlass data, $ETH closed Q2 down 25.28%, extending Q1s 29.26% drop. That puts the altcoin down nearly 50% in the first half of 2026, leaving holders who bought the top deep underwater.　　The price structure tells the same story. As the chart below shows, $ETH has lost two major support levels. It first broke below $3,200 in mid-January, then lost the $2,000 level in early June.　　Since then, the next base has formed around $1,500, where $ETH has been chopping sideways for more than four straight weeks.　　Source: TradingView ($ETH/USDT)　　Now, looking at Santiments latest report, it seems another breakdown could be on the cards.　　According to the report, large Ethereum transfers to CEXs usually point to higher selloff risk, as whales tend to move coins onto exchanges before selling, hedging, or rebalancing. However, this time theres a catch.　　Those $ETH inflows have been accompanied by strong stablecoin inflows, suggesting whales are also moving dry powder onto exchanges. That points to large players keeping capital ready, potentially to buy the dip rather than simply offload their $ETH.　　And the data already hints at where that

07-02Exchange

‘Seems bearish’ – Circle slides 17% as Open USD enters the stablecoin race

Circle‘s stock, CRCL, dumped 17.5% to $62.63 on the 30th of June, marking the largest daily loss since March. It’s worth noting that in March, the stock fell 20% following a draft proposal to ban stablecoin yield on idle balance.　　This raised concerns about likely limited $USDC adoption and the potential impact on the second-largest stablecoin issuers revenue outlook if the proposal were enacted. The dip on the 30th of June, however, was driven by a new rival in the stablecoin space.　　Source: Circle stock price performance, TradingViewWill Open USD challenge Circle, Tethers dominance？　　A consortium of 140 firms, including traditional cross-border payment players such as Visa, Mastercard, BlackRock and Google, launched a new stablecoin, Open USD (OUSD). According to the coalition, reserve earnings will be shared among partners, with zero transfer fees.　　The target for OUSD？ Enterprise treasury management and merchant payments. While not entirely focused on retail, the two segments are also eyed by both Tether‘s $USDT and Circle’s $USDC.　　The new stablecoin will be offered later in the year, and Circles stock reaction suggested the market share dominance could be challenged. In fact, Matthew Sigel, head of digital research at asset manager VanEck, echoed this stance as the stock dumped on Tuesday.　　$CRCL

07-02Exchange

Democrat backed by Ripple co-founders PAC wins Colorado primary

Manny Rutinel, a Democratic candidate running to represent Colorado‘s 8th congressional district, has won his party’s primary and will head to the November election after being supported by a crypto-aligned political action committee (PAC).　　Early on Wednesday, Rutinel reported that Rutinel would be the Democratic nominee for Colorado‘s 8th district, having won with 61.7% of the vote against Shannon Bird’s 33.6%. Before the primary, the You Can Push Back Super PAC, backed by $3.5 million from Ripple Labs co-founder Chris Larsen, reportedly spent $1 million on media to support Rutinels run.　　The Colorado Democrat has a “strongly supports crypto” rating from the Coinbase-affiliated Stand With Crypto organization, based on his answers to questions about stablecoins, market structure and regulatory clarity. Coinbase is also a major contributor to the Fairshake PAC, which supports what it considers “pro-crypto” Democratic and Republican candidates for Congress.　　Source: Stand With Crypto　　On Tuesday, the consumer advocacy group Public Citizen reported that the cryptocurrency industry had spent about $189 million so far on contributions to influence the 2026 US elections, largely through PACs. In what some experts say is the industry repeating its 2024 strategy, crypto-aligned groups are expected to continue spending to elect what they consider “pro-crypto” politicians.　　Cointelegraph reached

07-02Exchange

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