MiCA July 1 deadline could leave 10 million crypto users searching for a new platform in the EU

The European Unions (EU) July 1 Markets in Crypto-Assets (MiCA) deadline could leave more than 10 million users looking for a new platform, Alex Fazel, chief partnership officer at Swissborg, told CoinDesk in an interview.  The latest deadline implementing the EUs crypto rules are forcing dozens of exchanges to halt or restrict services, with the European Securities and Markets Authority (ESMA) warning that crypto-asset service providers operating without a MiCA license after July 1 should wind down their businesses while helping customers move to authorized providers or self-hosted wallets.  The deadline also comes as the European Banking Authority (EBA), which directly supervises significant stablecoin issuers under MiCA, proposed a framework on Friday that would allow fines of up to 12.5% of annual turnover for major issuers that breach the regulation. The consultation runs until Sept. 28, after which the methodology will be finalized.  Europe was thought to have had more than 3,000 registered virtual asset service providers (VASPs), the pre-MiCA categorization, as of 2024. As many as 80% of them will not continue after the deadline, Erald Ghoos, CEO of OKX Europe, told CoinDesk.  The immediate impact will fall on customers whose exchanges are withdrawing services, Fazel told CoinDesk  Several exchanges, including Binance, have announced

06-29

BlackRock pushes deeper into DeFi with Ethena integration, sending ENA up 8%

Ethena said its yield-generating “synthetic dollar” token will be integrated into BlackRocks (BLK) Aladdin investment management platform as the crypto protocol is deepening its relationship with traditional finance firms.  The Monday announcement sent Ethenas governance token $ENA ($ENA) up about 8% on the day as investors welcomed another high-profile institutional partnership.  Aladdin is BlackRocks portfolio construction, trading and risk management platform used by banks, insurers, pension funds and asset managers overseeing more than $20 trillion in combined assets. The integration will give institutions using Aladdin access to $USDe, Ethenas yield token designed for onchain savings and settlement.  Ethena also said BlackRocks tokenized money market fund, BUIDL, will serve as the primary reserve asset for a forthcoming white-label product. The companies also plan to establish a liquidity facility for BlackRocks tokenized products.  The announcement is the latest in a series of partnerships between global asset managers and decentralized finance protocols.  Earlier this year, BlackRock expanded its tokenized money market fund through a partnership with Uniswap and also invested an undisclosed amount in the decentralized exchanges UNI token. Private markets giant Apollo Global Management (APO) struck a deal with lending protocol Morpho to bring tokenized private credit assets onchain.  Ethena has been increasingly focused on expanding to institutions

06-29

Kalshi and Polymarket could become M&A targets as prediction markets consolidate: Bernstein

The rapid consolidation of the prediction market technology stack is raising the odds of a new wave of mergers and acquisitions across sports betting and financial markets, according to Wall Street broker Bernstein.  Over the past eight months, every major consumer-facing prediction platform has moved to own both customer distribution and exchange infrastructure, the report said.  “Kalshi and Polymarket own the stack but trail on distribution, which leaves each as plausibly a target as an acquirer,” analysts led by Ian Moore said in the Monday report.  The analysts noted that DraftKings acquired Railbird to launch its DKeX exchange, Robinhood partnered with Susquehanna to build Rothera, Coinbase acquired The Clearing Company shortly after launching event contracts, and Flutter established a dual-FCM structure to preserve access to multiple exchanges.  The trend reflects Bernsteins view that prediction markets are converging with sports betting and consumer finance into a single competitive landscape, opening the door to combinations that previously seemed unlikely, including sportsbooks buying exchanges, exchanges buying sportsbooks, and consolidation among sportsbook operators themselves.  Prediction markets have surged into the financial mainstream over the past two years, fueled by the success of election betting, the expansion of sports event contracts and growing adoption by major retail trading platforms. Companies

06-29

Tether's USDT jumps to 8.5% premium in India after crypto payment crackdown

The price of Tethers $USDT, the largest dollar-pegged stablecoin, has climbed to more than 8.5% above its dollar value on Indian platforms after a government crackdown on crypto payment firms choked off the tokens supply into the country.  $USDT traded around 102.88 rupees over the weekend against an official dollar-rupee rate of about 94.65, a gap that normally sits between 3% and 4%.  That spread, known as the $USDT premium, is the extra amount buyers in India pay for the stablecoin above what a dollar costs through banks, and it widens when local demand outstrips the supply of tokens.  Local publication ET said the squeeze followed action by the Enforcement Directorate, Indias financial-crime agency, which searched six premises in Bengaluru on June 17 under the Foreign Exchange Management Act, the law governing cross-border money flows. The agency is targeting five crypto payment firms it alleges moved more than $265 million in unauthorized cross-border transfers using digital assets.  The ED alleges the firms ran what amounted to an informal remittance channel, with non-resident Indians using $USDT in place of bank wires.  Rupees were deposited into company accounts, converted into stablecoins, sent across borders and sold on Indian exchanges, the agency said, sidestepping the paperwork and approvals

06-29

Bitcoin miners flash another warning for BTC bulls

Bitcoin miners weighed down the spot market after transferring another 19,560 $BTC to Binance. This is the fourth-largest $BTC inflow to the exchange since February, showing the current price range is putting pressure on mining companies.   Bitcoin miners accelerated their exchange deposits in June, with another deposit of 19,560 $BTC. The recent wave of deposits follows an inflow of 23,000 $BTC earlier this month.  According to Cryptoquant analyst Amr Taha, the recent inflows go beyond routine transfers and are a significant on-chain event. Miners strongly prefer Binance, with minimal inflows to Coinbase, HTX, OKX, Kraken, Bybit, Gemini, or other exchanges.  The inflows happened as $BTC hovered just under $60,000. Later, the coin recovered to $60,019.25, with a dominance of 55.8%. According to F2Pool, one of the biggest miners, $BTC conditions worsened notably in the past week.  Difficulty: +7.15%  $BTC price change (7d): -7% (~$60k)  Daily revenue: $0.03/T  Currently, Bitcoin ASICs with a unit power of 19.5 W/T are running close to their break-even line.  View the full list here:…  The transfer to exchanges does not mean that the coins are sold. It may mean that miners may take advantage of the spot market if prices are favorable. The two large-scale inflow events in June suggest miners are still

06-29

Hyper Foundation allocates $10m in grants to support USDH migration

Hyper Foundation will allocate about $10 million in grants to help builders affected by the USDH sunset. The funding is meant to cover migration and wind-down costs as the Hyperliquid ecosystem moves more trading activity toward $USDC.  “Hyper Foundation announced approximately $10 million in grants to help builders affected by the USDH sunset, covering migration and wind-down costs,” Wu Blockchain said. The post said eligible recipients include HIP-1 and HIP-3 deployers, HyperEVM protocols, USDH bridges and Native Markets.  Hyper Foundation Allocates $10M in Grants to Support USDH Migration  Hyper Foundation announced approximately $10 million in grants to help builders affected by the USDH sunset, covering migration and wind-down costs. Grants will be distributed to eligible HIP-1 and HIP-3…  The grants come with a clear deadline. Recipients must complete migrations or orderly shutdowns by the end of July. The plan gives affected builders a limited period to update markets, move liquidity, adjust bridges or close USDH-related services.  Eligible builders face July deadline  HIP-1 deployers relate to spot market deployments, while HIP-3 deployers relate to perpetual market deployments. Both groups may need support because USDH served as a quote asset or liquidity route for some products. HyperEVM protocols and USDH bridge operators may also face direct technical changes.  Native

06-29

10 Crypto Market Predictions for 2026 Show Winners, Laggards, and Emerging Trends

21Shares Measures 10 Crypto Forecasts Against Midyear Market Data  Crypto markets are entering the second half of 2026 with 10 major forecasts moving at sharply different speeds, 21Shares stated in its midyear outlook, published on June 24. The review compares January expectations with market data through May 31 and June 8, separating areas that are ahead of schedule, behind target, or still developing.  The first prediction stated that bitcoins four-year cycle would break in 2026. That forecast has not materialized. Bitcoin reached a peak of about $126,000 in October 2025 before retracing roughly 50%. While the correction was significant, it remained far less severe than previous bear markets, which saw declines exceeding 80%, and bitcoin continued to trade above its $54,000 aggregate cost basis.  21Shares is a cryptocurrency exchange-traded product (ETP) issuer that offers more than 60 physically backed crypto ETPs across global markets. Its researchers described:  “While the overall direction we outlined for 2026 remains largely on track, some predictions are ahead of schedule and others are lagging.”  The second prediction expected global crypto ETP assets to surpass $400 billion. That target now looks distant after assets fell to roughly $140 billion by May. Bitcoin ETPs accounted for about $110 billion, while U.S. spot

06-29

Ripples CLARITY Truck Hits Washington as Congress Weighs Crypto Rules

Ripple Takes CLARITY Act Campaign to Washington, D.C., as Senate Vote Pressure Builds  Ripple put its CLARITY Act message on wheels June 25, sending a branded truck through Washington, D.C., as Congress continued work on digital asset market rules. The campaign put the company‘s policy argument before lawmakers, staff, and industry advocates as they watched the Senate’s next move.  Lauren Belive, Ripple‘s global co-head of public policy and government, promoted the effort on X. “On the road to clarity – literally!” she wrote. “Ripple’s Clarity truck is out in D.C. as Congress works on the Clarity Act, which creates clear rules for digital assets and crypto. Clear rules help protect consumers, support responsible innovation, and keep the U.S. competitive.”  Ripple separately stated on X:  “Ripple is on the road to clarity! Our Clarity truck is on the move in D.C. as Congress continues work on transparent rules of the road for digital assets.”  Executives across the digital asset industry are backing the Clarity Act, with Ripple CEO Brad Garlinghouse saying the company supports the measure and calling it a pivotal moment for establishing clear, workable rules for crypto markets in the United States.  More than 200 organizations, including Coinbase, Ripple, Kraken, Circle, Binance.US, Uniswap Labs, Paradigm,

06-29

JPMorgan Pilots Deposit Token JPMD on Base — Heres Why It Matters

JPMorgan has announced it will pilot its deposit token, JPMD, on the Base blockchain, a Layer-2 solution developed by Coinbase. This initiative represents a significant step in integrating traditional banking with blockchain technology, as highlighted in a recent tweet by tier10k. The move could reshape how financial institutions interact with digital assets and increase the adoption of blockchain in mainstream finance.  The Latest  The broader crypto market is showing mixed signals, but JPMorgan‘s launch of the JPMD deposit token has garnered attention. This token operates as a permissioned blockchain representation of U.S. dollar deposits at JPMorgan, issued on Base. The Base platform, utilizing an Optimistic Rollup architecture, allows for fast transactions while maintaining Ethereum’s security. This integration could enhance liquidity options for JPMorgan clients, expanding their capability to transact in a digital format. As institutional players begin adopting blockchain solutions, the implications of this launch could resonate throughout the financial sector, inviting other banks to explore similar innovations.  The Essentialsorg: JPMorgan, action: Pilot deposit token JPMD on Base, effective_date: June 2025  Token Metrics  Despite the current price of the JPMD token remaining at $0, the potential impact of its introduction is noteworthy. The market is witnessing a pivotal moment as traditional finance intersects with blockchain

06-29

The next crypto recovery trade might be equities instead of tokens

The total crypto market cap is down more than 36% year over year, the altcoin complex sits roughly 45% below its October 2025 peak, and Bitcoin is on course for its worst annual start in more than a decade, with capital rotating into AI stocks and major IPOs.  Three years of waiting for a broad altseason that never arrived have left altcoin traders with fast-decaying narratives, unlock-driven selling, memecoin rotations that rewarded a handful of early buyers, and rallies that faded before most participants could size in.  Some investors are now asking whether owning the companies that profit from crypto activity is a cleaner trade than picking the next token.  On June 25, ARKs ETFs bought roughly $5.4 million in four crypto-linked equities, even as all four stocks traded lower.  The purchases totaled approximately $1.28 million on Coinbase, $637,455 on Circle, $199,895 on Bullish, and $3.27 million on Robinhood. Cathie Wood was buying into weakness, and the stocks she chose are companies that monetize crypto activity.  Crypto-linked equities give investors exposure to crypto activity, including trading volumes, stablecoin circulation, custody assets, derivatives flows, and retail speculation.  In the kind of low-energy chop that has defined the past three years, the two bets diverge sharply.  ARK invested roughly

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