Bybit Rolls Out $202K Trading Fest as Exchanges Merge TradFi and Crypto

The line between traditional brokerage and crypto exchange is blurring fast, and platforms are competing for traders who want exposure across asset classes without leaving a single interface. Bybit is the latest exchange to push deeper into this convergence, unveiling its Global Assets Trading Fest with a $202,000 $USDT prize pool, according to the announcement.  The competition spans crypto spot, derivatives, and a range of traditional market instruments, reflecting the exchanges effort to capture broader trading volume. As the second-largest crypto exchange by trading volume, Bybit is defending its turf amid aggressive moves by Binance, OKX, and Coinbase, all of which are expanding into multi-asset services. Trading competitions like this one are designed to drive volume, attract market makers, and pull in new users who are often sticky once they connect their capital. The prize pool, while significant, is a marketing lever in a landscape where exchange rivalry grows more cutthroat by the quarter.  Why the Competition Matters  Bybits festival arrives at a moment when surging trading volumes across major pairs are drawing fresh attention from institutional participants. Exchanges that can offer both crypto depth and access to traditional market instruments stand to benefit the most, because they capture flow that used to

06-19

Fed Floats Stablecoin ID Rules; a16z Stakes $259M in HYPE; ARK Buys Coinbase

Crypto News  Zimbabwe has formalized oversight of its digital-asset sector, requiring virtual asset service providers to register with the Financial Intelligence Unit housed within the central bank and pay a $500 annual fee. Finance Minister Mthuli Ncube announced that firms handling the buying, selling, swapping, transfer, or custody of crypto must re-register each year, and operating without authorization could be treated as unlawful. The move follows years of regulatory ambiguity that pushed activity into peer-to-peer networks and messaging apps after 2018 banking restrictions. High inflation, repeated currency reforms, and costly cross-border remittances drove adoption, and authorities now favor supervision over outright prohibition to align with anti-money-laundering norms.  In the United States, the CLARITY Act is advancing through the Senate after clearing the House, aiming to settle the long-running question of whether a token is a security or a commodity. The bill would sharpen the jurisdictional split between the SEC and the CFTC, while imposing fresh registration and compliance obligations on exchanges, brokers, and dealers. Supporters argue it could cement American leadership in digital assets and strengthen investor safeguards. Critics counter that it weakens SEC oversight, carves out broad DeFi exemptions, and leaves gaps around stablecoin yields and political-ethics risks. The outcome would

06-19

Wealthsimple launches Kalshi-powered prediction market app for Canadian investors

Canadian fintech Wealthsimple is launching a prediction markets app powered by Kalshi, giving that countrys retail investors access to thousands of event-based contracts following regulatory approval earlier this year.  The standalone app, called Wealthsimple Predict, is scheduled to launch this summer and will offer Canadian users access to about 4,000 event contracts listed on Kalshi across categories including financial markets, economic indicators and climate.  Source: Kalshi  The Canadian Investment Regulatory Organization (CIRO) in March authorized the firm to offer prediction market contracts tied to those categories. It is the second investment dealer authorized by CIRO to offer prediction market trading in Canada. The contracts will be regulated as derivatives and must have settlement periods of at least 30 days.  The Canadian rollout comes as Kalshi expands beyond prediction markets. On Thursday, the company said that its perpetual futures products were now live for trading, following a May 31 announcement that marked the companys entry into the crypto perpetual futures market.  Source: Kalshi  CME pushes back against CFTCs crypto derivatives stance  Kalshis expansion beyond prediction markets is already facing pushback from established derivatives exchanges.  On Thursday, CME Group sued the US Commodity Futures Trading Commission (CFTC) over its approval of cryptocurrency perpetual futures contracts offered by Kalshi and similar

06-19

Ireland mulls crypto safeguards in response to financial risks

The government of Ireland is taking aim at digital assets used in money laundering and terrorism financing as moves to implement industry standards “relating to the acceptance of crypto-related activities as a source of funds” by the second half of 2027 as part of its policy priorities.  In part of its implementation plan following a national risk assessment released on Thursday, the Irish department of finance said crypto assets presented “very significant” risks related to money laundering and terrorism financing. The governments 2026 report was the first time in seven years that Ireland released a risk assessment related to digital assets, noting an increase in prosecutions related to money laundering and incidents of fraud in which using crypto was “particularly attractive” to criminal groups.  Source: Government of Ireland  In the time since its last report, Ireland noted that crypto “presents vulnerabilities that may facilitate sanctions evasion,” presented challenges to the countrys tax compliance and enforcement and was used to bribe corrupt officials responsible for decisions overseeing the industry. The government highlighted vulnerabilities in the sector, including “inconsistent international regulation” posing risks to Irish service providers and largely unregulated areas of the industry such as decentralized finance.  Ireland lacks many of the laws and regulations

06-19

Bitcoin Price Falls to $62,000 as Hawkish Fed Shift Raises Risk of Deeper Pullback

Bitcoin price slipped below key support near $64,000 after a hawkish shift from the Federal Reserve erased gains tied to easing geopolitical tensions, placing the market at risk of a deeper pullback toward the $60,000 range.  The bitcoin price fell from a June 17 high of $66,315 to an intraday low near $62,000 during early June 18 trading, marking a 4% decline. Price action stabilized near $62,500, though momentum remains fragile as macro pressure builds.  The Federal Reserve held its benchmark rate steady at 3.50% to 3.75% but signaled a tighter policy path through updated projections. Policymakers reduced expectations for rate cuts and left open the possibility of further hikes. Chair Kevin Warsh also indicated a shift away from forward guidance, adding uncertainty across financial markets.  The reaction triggered a broad risk-off move. Crypto markets declined alongside equities tied to growth and liquidity, while the U.S. dollar index climbed to its highest level in over a year. Rising yields and a stronger dollar tend to weigh on assets such as Bitcoin that rely on abundant liquidity.  The decline came despite a supportive geopolitical development. The United States and Iran implemented an interim agreement that reopened the Strait of Hormuz and allowed Iranian oil exports

06-19

CEO of Bitcoin Giant Strategy Speaks Out After BTC Price Drop: Can the Company Weather the Storm?

Strategy (formerly MicroStrategy), the worlds largest institutional Bitcoin holder, caused a major stir in the cryptocurrency markets with its recent Bitcoin sale.  The company‘s decision to sell only 32 Bitcoin (worth approximately $2.5 million) has raised questions among investors about whether the company’s strategy is faltering. Speaking on the matter, Strategy CEO Phong Le shared the background to the decision and the companys long-term plans.  Phong Le argued that, contrary to market speculation, there was no financial necessity or panic behind this sale. Describing the move as “injecting the market,” Le stated:  “Our debtors and bondholders, as well as credit rating agencies, wanted to see if we could convert our largest corporate asset, Bitcoin, into cash if needed. We conducted this sale to show people that we can sell Bitcoin when necessary. We also wanted to test the processes of moving and selling our assets from cold wallets to hot wallets and gauge how the market would react.”  Le reminded that the company publishes its weekly activity report (8-K) in accordance with its principle of transparency, and stated that in the week following this small sale of $2.5 million, they purchased $100 million worth of Bitcoin, and in the previous week, they purchased $1.5

06-19

Wealthsimple brings 4,000 Kalshi prediction market contracts to Canada

Wealthsimple has secured approval to offer roughly 4,000 prediction market contracts in Canada, expanding retail access to event-based trading through a new partnership with Kalshi.  According to Wealthsimple, the company plans to launch a standalone prediction markets platform called Wealthsimple Predict this summer, giving Canadian investors access to thousands of contracts listed by Kalshi across categories such as financial markets, economic data, and climate-related events.  Prediction markets are coming to Canada.  For the first time, millions of Canadians will be able to trade whats next through Wealthsimple.  The rollout follows authorization from the Canadian Investment Regulatory Organization in March. Under the approval, Wealthsimple became the second investment dealer permitted to offer prediction market contracts in Canada. CIRO said the products will be regulated as derivatives and must carry settlement periods of at least 30 days.  Wealthsimples launch arrives as prediction markets continue to attract attention from regulators, lawmakers, and traditional exchanges in several countries. While Canadian authorities have allowed the products under an established derivatives framework, regulators elsewhere remain divided over how such contracts should be classified.  Kalshi expands beyond prediction markets  At the same time, Kalshi has continued pushing into crypto-linked derivatives. The company announced on Thursday that its perpetual futures products are now available for

06-19

Can yield beat Bitcoin? BlackRocks BITA sparks debate

iShares BITA (Bitcoin Premium Income ETF), by BlackRock, made its debut on Nasdaq on June 16, 2026. BITA provides investors with access to monthly cash payouts in the form of premium income from Bitcoin using covered call options. This investment vehicle will provide an annual yield of 15%-25%, which sparked debate in the crypto space regarding how such products can potentially take capital away from Bitcoin itself in the future.  While it is too early to think about a replacement, the thought itself makes sense because BlackRock‘s other Bitcoin fund, iShares Bitcoin Trust (IBIT), has amassed almost $49 billion worth of assets since January 2024. However, iShares BITA does not compete with IBIT on a level playing field. BITA issues call options on approximately a quarter or a third of the portfolio per month and earns premiums, which then pay out distributions. There is a cap on income potential because investors earn only about 70% of Bitcoin’s returns, according to Bloomberg ETF analyst Eric Balchunas.  How BITA fund earns income  The BITA Fund consists of spot Bitcoin (held by Coinbase) and IBIT shares, and writes call options against the IBIT position. When Bitcoin trades sideways or drifts higher, option premiums pad returns beyond

06-19

DeFis next institutional wave may come from users who never see “behind the scenes” – CEO of Katana

For years, DeFis growth strategy was to pull users on-chain, and the next institutional wave is testing where users may never know theyre touching DeFi at all.  Matt Fisher, CEO of Katana, shared with CryptoSlate how the front end owns the user. If a credit card, a fintech app, or an exchange routes deposits into Morpho or another lending protocol, the customer remembers the card.  The credibility problem underneath the optimism  Fortune reported that Morpho closed a $175 million raise on June 9, backed by Paradigm, a16z crypto, Ribbit Capital, VanEck, Apollo Global Management, and Circle Ventures, among others spanning crypto-native funds and traditional finance.  Fisher said:  “On-chain, DeFi is facing its biggest threat. The latest run of hacks and exploits has been a huge tax on the credibility and confidence.”  He was referring to the Drift and KelpDAO exploits, which TRM Labs linked to North Korean state actors and which together accounted for roughly 76% of 2026s hack losses through April.  The KelpDAO hit was estimated at around $290 million, built on unbacked rsETH used as collateral across Aave, Compound, and Euler. The episode resulted in $200 million in bad debt on Aave, which demanded a joint effort from protocols and retail users to cover.  Composability, which

06-19

BlackRock Beats Strategy and Binance as Third-Largest Bitcoin Holder

BlackRock, one of the worlds largest asset management firms and a key player in the Bitcoin ecosystem, has been ranked as the third-largest Bitcoin holder across the globe.  Although BlackRock is globally renowned for its extreme focus on Bitcoin, the recent ranking by Arkham researchers has positioned the firm above Strategy, which is believed to hold more $BTC.  Did BlackRock actually flip Strategy?  While Arkham released a report confirming that BlackRock currently holds about 764,000 $BTC, commentators have argued that placing it behind only Bitcoin creator Satoshi Nakamoto and the leading U.S. crypto exchange Coinbase may have been an unfair ranking.  The report shows that only Satoshi and Coinbase control more Bitcoin than BlackRock, as they hold 1,096,000 $BTC and 970,000 $BTC respectively.  While BlackRocks outperformance against Binance has been justified, as the exchange only accounts for about 670,000 $BTC, questions about whether BlackRock actually holds more Bitcoin than Strategy have continued to stir debates.  Strategy still Bitcoins largest corporate holder  Although Strategy remains the largest publicly traded corporate holder of Bitcoin, with total holdings of 847,000 $BTC that typically outweigh BlackRocks total holdings, the report provided justifiable reasons why BlackRock has been ranked above Strategy as the largest Bitcoin-holding entity.  The report confirmed that a large portion

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