Crypto Breaking

Bitcoin extended its rebound into Friday, pushing toward fresh multi-week highs as softer oil prices and a weaker US dollar helped risk assets regain momentum. TradingView data showed BTC/USD climbing above $64,000, hovering within roughly $400 of its newest three-week peak.
The latest move comes alongside renewed hopes that a US-Iran peace track could reduce near-term geopolitical stress—an angle that has also kept pressure on energy prices. With macro conditions improving at least at the margin, analysts are now watching a specific technical barrier around $65,000.
Key takeaways
BTC/USD rose above $64,000, approaching fresh three-week highs, according to TradingView.
Oil weakness and a US dollar pullback have provided a more favorable backdrop for crypto risk sentiment.
QCP Capital highlighted that US Strategic Petroleum Reserve levels have fallen to their lowest since 1983, increasing downside risk if energy supply tightens.
The Kobeissi Letter pointed to falling odds of US inflation exceeding 4.5% in 2026, citing Polymarket-linked expectations.
Analysts are again focusing on $65,000 as “crucial resistance” for Bitcoin’s next directional move.
Bitcoin targets $65,000 as macro headwinds ease
TradingView charts indicated BTC/USD pressing higher, breaking through $64,000 and testing the upper end of a recent range. The distance to a three-week high was relatively small, suggesting the market is still in a short-term momentum phase rather than fully rotating into a cautious consolidation.
That momentum appears to be helped by two macro variables moving in Bitcoin’s favor: oil and the US dollar. While traders monitor many influences at once, the combination of lower energy pressure and a softer currency typically supports broader liquidity conditions for speculative assets.
Oil stays soft amid peace-deal hopes, but energy buffers look thin
Hope that an US-Iran peace effort might be salvaged has been a key narrative behind the day-to-day movement in oil. Even so, crude did not show sustained strength: WTI remained under pressure after rejecting from around $76 per barrel, according to the article’s reference to TradingView’s one-day CFDs chart.
In parallel, QCP Capital warned that the absence of a “monetary cushion” means physical energy buffers matter more than in periods where markets assume relief will be readily financed. QCP also noted that recent developments around Hormuz flows have left supply risks unresolved and highlighted the US Strategic Petroleum Reserve (SPR).
“The reserve looks thinner still: the SPR is at 319.5mb, its lowest since 1983, leaving just 19.5mb before the 300mb stress zone.”
For crypto traders, the practical implication is not that oil must rally for Bitcoin to benefit—but that tighter energy resilience can quickly translate into volatility. If geopolitical risk escalates, energy shocks can tighten financial conditions, potentially reversing the liquidity tailwind that Bitcoin currently appears to be using.
Dollar pullback and inflation expectations point to a friendlier risk tone
The article also emphasized US dollar softness, noting that the US dollar index (DXY) was approaching its lowest levels since mid-June after declining for a third consecutive day. A weaker dollar can ease financial strain and improve the appetite for assets priced in or influenced by global liquidity conditions.
On top of that, The Kobeissi Letter pointed to a shift in inflation expectations for 2026. According to the piece, the probability of US inflation surpassing 4.5% next year dropped to below 20%, referencing data from Polymarket. In its framing, inflation expectations are “coming down again,” supported by a post dated Thursday.
When inflation expectations soften, markets often anticipate a less restrictive policy path. For Bitcoin specifically, that can improve the relative attractiveness of non-yielding assets—though the effect tends to be nonlinear and sensitive to any new macro surprises.
From macro to crypto: “instability has spread,” but bulls press technical levels
While the short-term picture leaned more constructive, QCP Capital also introduced a cautionary counterpoint: it suggested recent stress signals are not confined to traditional finance. The article referenced QCP’s comment that “instability” appeared to spread into crypto after Strategy—identified in the source context—conducted recent BTC sales.
QCP also pointed to private credit as an area where redemption dynamics have worsened, stating that redemption requests cleared the 5% quarterly gates across several funds. That matters for crypto because credit-market pressure can influence funding costs, risk appetite, and the ability of investors to sustain leverage—even if crypto prices temporarily rebound.
Against that backdrop, some traders maintained a bullish near-term stance focused on technical levels. Michaël van de Poppe argued that oil-price direction is one driver of “a lot of upside” across markets and said that “Bitcoin [is] attacking the crucial resistance of $65,000 again.” In his view, a break above $65,000 could help shift broader market structure, flipping “many downtrends on many Altcoins into uptrends.”
What to watch next
With Bitcoin pressing toward $65,000, the key question is whether the current easing in the dollar and oil weakness can persist long enough to clear that resistance. At the same time, investors should monitor energy-risk indicators and broader credit conditions highlighted by QCP, because any reversal there could quickly drain the macro tailwind that’s currently supporting the rally.
This article was originally published as Bitcoin Reclaims $64.3K as Price Rally Signals New 3-Week Highs on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The U.S. Department of Justice is reportedly moving toward dropping federal charges against Matthew Goettsche, the founder of BitClub Network, a purported Bitcoin mining operation accused of defrauding investors of $722 million between 2014 and 2019. The development, if finalized, would represent one of the more consequential reversals in recent U.S. crypto enforcement history.
According to a Bloomberg Law report, the DOJ’s deputy attorney general’s office directed the New Jersey attorney general’s office to dismiss the case against Goettsche with prejudice. Following that directive, Goettsche’s attorneys informed the court that the parties had reached an “agreement in principle” to resolve the pending charges, but needed additional time to finalize the terms.
Key takeaways
DOJ action to dismiss the BitClub Network case with prejudice would mark a major enforcement rollback for a high-profile crypto fraud prosecution.
Goettsche’s counsel says the parties reached an agreement in principle, signaling a likely procedural resolution, though terms are not yet final.
The case reversal follows a broader DOJ policy push described in an April 2025 memo from Deputy Attorney General Todd Blanche.
Earlier in the same BitClub matter, multiple former associates—Silviu Balaci, Joseph Abel, and Gordon Beckstead—have already pleaded guilty.
A dismissal “with prejudice” under discussion
In a court filing surfaced via Bloomberg Law, Goettsche’s attorneys wrote to U.S. District Court Judge Claire Cecchi on Wednesday stating that the parties had reached an “agreement in principle” to resolve the pending charges. The letter adds that the parties “need time to finalize the terms,” suggesting that while a shift in posture has occurred, the outcome still depends on completing the procedural steps required by the court.
Bloomberg Law reported on Friday—citing two sources familiar with the matter—that DOJ leadership instructed New Jersey prosecutors to dismiss the case with prejudice. In legal terms, dismissal “with prejudice” typically prevents the government from refiling the same charges, which would effectively end the case against Goettsche in its current form.
Background on BitClub’s allegations
Goettsche was indicted in December 2019 and was scheduled for trial in October on charges including conspiracy to commit wire fraud and selling unregistered securities. Prosecutors characterized BitClub as a mining pool where investors could purchase shares and receive passive earnings.
According to the allegations described in reporting, BitClub purportedly falsified earnings values reported to investors and fabricated mining-related data to attract additional participation. The claim that investors were promised returns tied to mining activity is central to how the scheme was framed, because it linked the advertised profitability of mining to alleged misrepresentations.
The timing also matters for readers trying to understand the scope of potential impact. The accusations cover a multi-year window from 2014 to 2019, after which the case entered the federal court system and eventually resulted in an indictment and trial scheduling.
Why this case stands out in DOJ’s crypto approach
The reported reversal comes amid a broader shift in DOJ messaging about how prosecutors should approach digital assets—at least as described in internal guidance. In April 2025, Deputy Attorney General Todd Blanche issued a memo directing the DOJ to move away from what it characterized as “regulation by prosecution” against the digital asset industry, according to a DOJ-published document: https://www.justice.gov/dag/media/1395781/dl?inline.
That memo has been interpreted across the industry as a potential recalibration of how far enforcement actions should be used to draw lines on digital asset behavior. Earlier reporting from Cointelegraph also referenced this pivot in the context of Blanche’s views on the relationship between code and criminality, including coverage such as Acting AG Todd Blanche confirms ‘code is not a crime’ in DOJ pivot.
Still, the BitClub allegations—centered on investor deception and alleged wire fraud—sit in a familiar lane for U.S. prosecutors: fraud and securities-related theories rather than purely novel questions about whether a technology feature is “criminal.” That creates a tension worth watching. If the government is willing to step back from prosecuting Goettsche, investors and legal observers will likely focus on what DOJ believes the evidentiary or legal posture looks like under the newer policy framework.
The human dimension: prior pleas by co-defendants
One reason this potential dismissal drew attention is that the BitClub case already produced guilty pleas from multiple figures previously involved in the scheme. According to the coverage, three of Goettsche’s former colleagues—Silviu Balaci, Joseph Abel, and Gordon Beckstead—have pleaded guilty. Their earlier outcomes can complicate perceptions of how the government views the case overall, especially if Goettsche’s prosecution is curtailed while other participants have already resolved their matters.
It’s also notable that the broader enforcement environment for crypto remains active. Earlier coverage highlighted that DOJ continues to pursue criminals operating in digital asset fraud and theft. In April, a California man named Evan Tageman was sentenced to 70 months in prison for an alleged criminal enterprise that stole about $263 million worth of crypto from victims through social engineering scams and burglary, per Cointelegraph reporting such as this article. Separately, DOJ actions reported in April described the freezing of over $700 million in crypto tied to investment scammers targeting Americans, and in February, the seizure of nearly $580 million linked to a criminal scam group operating in Southeast Asia—reflected in Cointelegraph coverage including this report and this one.
Taken together, those examples suggest that while DOJ’s strategic posture may be shifting, enforcement against alleged fraud and theft is still proceeding through other cases. The question in the BitClub matter is therefore not whether DOJ will prosecute crypto-related wrongdoing, but whether it will continue this particular prosecution in light of updated internal guidance and the specifics of the case.
What to watch next
For now, the key development is procedural: Goettsche’s attorneys say an agreement in principle exists, but the terms are not yet finalized. Investors, attorneys, and crypto operators should watch for the court’s next filings to confirm whether the dismissal becomes official—and, if so, how DOJ explains its reasoning in a way that clarifies what the “regulation by prosecution” directive means when fraud allegations are on the table.
This article was originally published as DOJ Seeks Dismissal in $722M BitClub Fraud Case, Report Says on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Japanese digital-asset lender CRYL has introduced a regulated Bitcoin-backed loan product that lets borrowers access fiat without selling their BTC. The new offering supports loans of up to 1 billion yen (about $6.2 million) for both individuals and businesses, using Bitcoin as collateral.
According to CRYL’s announcement on PR Times, loan sizes range from roughly $6,200 to $6.2 million at annual interest rates of 3.5% to 7%. Borrowers post a 40% to 60% collateral ratio, with the loan term set at one year. Funds can be used for a range of expenses, including tax payments, business financing, and property purchases.
Key takeaways
CRYL’s Bitcoin-backed loans allow borrowers to raise yen liquidity without liquidating BTC, with a maximum size of 1 billion yen.
Pricing in the new product ranges from 3.5% to 7% annually, with collateral ratios set between 40% and 60%.
The loans run for one year and, in most cases, use a lump-sum repayment structure where principal and interest are due at maturity.
Japan’s regulated crypto-backed lending market is still small, but the launch increases competition beyond an earlier provider.
Other Japanese firms are exploring BTC’s role in broader credit products, though some initiatives remain in the research stage.
How CRYL’s Bitcoin-backed loan works
CRYL positions the service as a third path for Bitcoin holders in addition to simply keeping BTC or selling it. As described in the company’s release, applicants must pass a screening process before receiving financing—an important constraint for anyone expecting a frictionless borrowing experience.
While CRYL frames the product as allowing access to yen liquidity, the structure includes key protections typically associated with collateralized lending. Borrowers provide BTC collateral under a 40% to 60% ratio, and the program’s one-year tenor means repayment timing is concentrated rather than spread out monthly.
The company also indicates that most loans follow a lump-sum repayment approach, with principal and interest due after one year. For users, that matters for cash-flow planning: the benefit of borrowing without selling BTC may be offset by the need to have repayment funds ready at maturity.
Japan’s regulated crypto-backed lending: Fintertech as the benchmark
The CRYL launch arrives in a market that already had at least one established player. In 2020, Fintertech—a joint venture of Daiwa Securities Group and Credit Saison—launched a similar concept: loans where customers can borrow fiat against Bitcoin or Ether.
Fintertech’s current product listings show annual rates of 4% to 8% with a 50% collateral ratio and a minimum borrowing amount of 5 million yen (about $31,000). In comparison, CRYL advertises a higher maximum loan ceiling and a lower minimum, but with a narrower collateral scope: CRYL’s product uses Bitcoin as collateral rather than both BTC and ETH.
One clear signal that lending infrastructure in Japan is maturing is distribution. In October 2025, Daiwa Securities began introducing Fintertech’s digital asset-backed loans to customers through branches across Japan. That distribution expansion matters because it can reduce barriers for mainstream customers who prefer in-person banking channels rather than fully digital onboarding.
Fintertech is owned 80% by Daiwa Securities Group and 20% by Credit Saison, giving it an advantage in bridging traditional finance and crypto-collateral lending.
Why BTC collateral lending is gaining attention
Japan’s interest in Bitcoin-backed credit is increasingly visible beyond single products. While CRYL and Fintertech focus on collateralized loans, other companies are exploring how BTC could be used to support broader credit structures.
On Friday, Metaplanet Securities—linked with yen stablecoin issuer JPYC and tokenization infrastructure provider Progmat—announced a study into using BTC as collateral or credit enhancement for digital corporate bonds and other blockchain-based credit instruments. The companies stated that the effort remains in a research phase, with no issuance decision made.
This distinction is important. Collateralized loans like CRYL’s have a clearer implementation path, since borrowers and repayment obligations are straightforward to structure. By contrast, using BTC to enhance or secure corporate bond frameworks may require additional legal, operational, and risk-management design work—hence the “study” stage.
Still, CRYL’s launch highlights a practical direction: in Japan, Bitcoin is increasingly being treated not only as a held asset, but as a source of liquidity that can be routed into everyday financial needs—taxes, business expenses, or real-estate purchases—while retaining exposure to BTC price movements.
What borrowers should watch next
With CRYL now offering a one-year, BTC-only collateral loan with defined collateral ratios and lump-sum repayment dynamics, the immediate question for borrowers is how demand will evolve versus Fintertech’s longer-running BTC/ETH offering. Readers should watch for whether pricing tightens over time, how underwriting criteria develop, and whether competition expands beyond loans into more complex credit products that use Bitcoin as a structural credit support.
This article was originally published as Japan Lender Introduces Bitcoin-Backed Loans Up to $6.2M on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

USDC stablecoin issuer Circle has received final approval from the US Office of the Comptroller of the Currency (OCC) to establish First National Digital Currency Bank (FNDCB), a national trust bank that will operate under the name Circle National Trust. The OCC’s decision marks a significant step toward bringing Circle’s custody and trust-related services into a federally regulated banking structure.
Circle said the approval, announced Friday, follows its application for the national trust bank charter in June 2025. Circle CEO Jeremy Allaire called it “a defining step in bringing blockchain technology and digital assets into the core of the US financial system,” according to the company’s press release: https://www.circle.com/pressroom/circle-receives-final-occ-approval-to-establish-national-trust-bank.
Key takeaways
Circle received final OCC approval to create Circle National Trust, a national trust bank.
The bank’s initial mandate focuses on fiduciary digital asset custody for Circle and affiliated companies.
Circle National Trust may later extend services to a limited set of institutional customers if demand grows.
The structure could, in future, support management of the USDC Reserve under federal oversight, depending on implementation.
From charter application to OCC final approval
Circle’s new bank is the culmination of a charter process that began when the company applied for the national trust bank charter in June 2025, according to Circle’s earlier filing and subsequent updates. In Friday’s announcement, Circle framed the OCC approval as an important regulatory milestone for its broader effort to embed USDC infrastructure within mainstream financial oversight.
While the approval itself is a clear authorization step, the scope of what Circle National Trust can do—at least at launch—remains tightly defined by the bank’s approved business plan. That distinction matters for investors and counterparties because the earliest stage will likely concentrate on internal and affiliate custody needs before widening to external clients.
What Circle National Trust will do at launch
According to Circle’s approved business plan, Circle National Trust will initially offer fiduciary digital asset custody services for Circle and its affiliated companies. This “start limited” approach is common when new regulated entities begin operations, especially when they involve specialized services like digital asset custody.
Circle also indicated it could later expand services to a limited group of institutional customers. That potential expansion includes banks and other financial institutions, such as regulated derivatives firms, if demand develops. In other words, the bank is not positioned as a broad retail custodian from day one; rather, it appears designed to support institutional workflows connected to regulated capital markets.
The structure additionally creates a pathway—if implemented—to manage the USDC Reserve within a trust bank framework, bringing those operations under federal oversight. Circle did not provide further implementation details in the announcement, but the possibility is a key point because USDC’s reserve management is central to stablecoin credibility and operational risk controls.
Circle’s expanding regulatory footprint
Circle’s OCC approval adds another layer to a regulatory build-out that has already included multiple jurisdictions. The company said it was the first firm to receive a BitLicense from the New York Department of Financial Services in 2015. It also stated it became the first global stablecoin issuer to comply with the European Union’s MiCA (Markets in Crypto-Assets) framework in 2024, aligning its operations with a more comprehensive EU stablecoin regime.
Circle has also pointed to approvals in other markets, including the United Kingdom, Singapore, Bermuda, Canada, and Abu Dhabi, as it continues to scale its USDC infrastructure globally.
For market participants, this multi-region regulatory record is relevant because it suggests Circle is pursuing a “compliance-first” model across major financial jurisdictions. The US trust bank approval, in that context, is a move from sector-specific and cross-border oversight toward a deeper integration with US banking supervision.
The company previously worked on expanding how USDC can be minted and used through traditional banking channels; Cointelegraph reported on Standard Chartered and Circle bringing USDC minting onto banking rails, reflecting an ongoing effort to connect stablecoin issuance and distribution to regulated financial infrastructure.
Why the timing and structure could matter for USDC
USDC’s role in crypto markets depends not only on its liquidity, but also on how its infrastructure is supervised and operationalized. A federally regulated trust bank structure can potentially strengthen institutional confidence by formalizing custody-related functions within a banking oversight framework.
At the same time, it’s important to separate the approval from the eventual operational outcomes. Circle National Trust’s initial custody scope is limited to Circle and affiliated companies, and any future handling of the USDC Reserve would depend on later implementation. That means the most immediate impact may be internal—while the broader institutional-facing effects could arrive later if Circle expands its customer base as indicated.
Markets react as Circle shares move higher
Circle Internet Group’s stock (CRCL) rose roughly 16% in pre-market trading on Friday after the announcement, according to Yahoo Finance data, climbing above $73 after closing the previous session at $63: https://finance.yahoo.com/quote/CRCL/.
Stablecoin demand and overall crypto market activity remain key drivers for USDC, and the token’s scale provides additional context. At the time of publication, USDC was described as the second-largest stablecoin by market capitalization at $73.3 billion, according to CoinGecko. CoinGecko data cited in the source indicated its market cap increased 16.7% over the past year, while declining 2.5% year-to-date (as reported in the original article).
Investors and institutional users will likely watch two things next: whether Circle National Trust expands its custody services beyond affiliated entities, and whether Circle moves forward with any plan to bring USDC Reserve management under the bank’s federally supervised structure. Both developments could shape how quickly USDC infrastructure deepens its integration with traditional financial systems.
This article was originally published as Circle Secures Final Approval for USDC Issuer National Trust Bank Charter on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

After years of lobbying aimed at winning a clearer regulatory footing, the U.S. crypto industry is pressing toward the CLARITY Act—an effort to reshape crypto market structure legislation—while lawmakers weigh competing concerns from advocates and law enforcement.
With Senate negotiators working toward a possible floor vote ahead of Congress’s August recess, the political question has shifted from whether legislators are paying attention to digital-asset arguments to whether the industry’s election-season momentum and financial resources will be enough to carry the bill over the finish line.
Key takeaways
The CLARITY Act is nearing a potential Senate floor vote, but remaining controversy—particularly around Section 604 / the Blockchain Regulatory Certainty Act—keeps the outcome uncertain.
Crypto advocates describe their lobbying effort as the most “sophisticated” it has ever been, combining sustained lawmaker engagement with election-focused political activity.
Public Citizen reported that crypto-related political spending reached $189 million so far ahead of the 2026 midterms, framing the debate over “buying influence” versus responding to anti-crypto politics.
Major law enforcement groups are moving in different directions: the Major County Sheriffs of America (MCSA) shifted to neutrality, while other attorneys and groups warned that broad exemptions could weaken oversight and accountability.
Analysis from Brogan Law suggests that while Fairshake-backed candidates won most decided races, many were not as tightly contested as headlines imply, pointing to more nuanced campaign strategy effects.
CLARITY gains momentum—yet Section 604 remains the pressure point
For proponents, the debate around the CLARITY Act increasingly looks like an incremental narrowing of political resistance. A key signal came on July 3, when the Major County Sheriffs of America (MCSA) said it moved from opposing the bill to a neutral position after discussions focused on Section 604, also known as the Blockchain Regulatory Certainty Act.
Coinbase CEO Brian Armstrong described the MCSA development as “huge” in a post on X, underscoring how much the industry appears to value law-enforcement-adjacent endorsements as lawmakers move closer to a vote.
That same day, the National Organization of Black Law Enforcement Executives (NOBLE) became the first major law enforcement body to endorse the legislation.
Still, the bill’s path remains complicated. The Blockchain Regulatory Certainty Act / Section 604 is drawing sustained concern from public safety and oversight advocates. In late June, acting U.S. Attorney General was warned by four other attorneys and law enforcement groups representing 70,000 members collectively, according to reporting tied to an International Consortium of Investigative Journalists (ICIJ) investigation. Their argument: the bill’s broad exemptions could create gaps in oversight and accountability that “sophisticated criminal actors may exploit.”
For investors and policy watchers, the practical takeaway is that the CLARITY Act’s coalition is improving—but not solidifying. The legislation is now in the phase where small wording differences and targeted carve-outs can determine who endorses it, who continues to oppose it, and ultimately whether leadership can secure the votes required for passage.
Why the crypto lobby’s political operation is drawing scrutiny
Alongside the legislative calendar, the crypto industry’s political infrastructure has become a major storyline of its own. In a June 25 X thread, Kristin Smith—president of the Solana Policy Institute and former CEO of the Blockchain Association—said crypto advocacy is “the strongest and most sophisticated it has ever been.” She cited bipartisan negotiations, ongoing meetings with lawmakers, and what she characterized as a winning campaign to support “champions” in Congress.
Public Citizen has framed that effort in far more contentious terms. In a report referenced by Reuters, the consumer advocacy organization said crypto’s political spending reached $189 million so far in the run-up to the 2026 midterms. The report’s implication is that industry spending is attempting to influence elections and policy agendas, while critics argue this is a bid to buy votes and legitimacy.
Industry figures reject that characterization. Colin McLaren, head of government relations at the Solana Policy Institute, told Cointelegraph that the infrastructure did not form overnight and pointed to several groups as key contributors to moving pro-crypto legislation forward, including Fairshake, Cedar Innovation Foundation, Stand With Crypto, and the Blockchain Association. McLaren argued that these groups helped build relationships inside Congress and provided lawmakers with “resources and cover” to legislate without fear of electoral backlash.
Fairshake: campaign spending versus what it can realistically change
No organization illustrates the crypto lobbying shift more clearly than Fairshake, a crypto-backed political action committee (PAC) funded by major industry players including Coinbase, Ripple, and Andreessen Horowitz. A PAC, according to the Federal Election Commission, raises and spends money to support or oppose candidates and political causes under federal election rules.
During the 2026 U.S. congressional primary cycle, Fairshake and affiliated PACs reportedly spent tens of millions of dollars backing candidates viewed as favorable to digital assets and opposing those considered hostile to the sector. Cointelegraph previously reported that in May, affiliated PACs spent more than $20 million supporting Republican congressional primary candidates in Georgia, Alabama, and Kentucky—where some figures included more than $7 million backing Rep. Andy Barr in Kentucky’s Senate primary. Coverage also noted follow-on spending in Democratic contests, including millions of dollars in Maryland and New York.
McLaren argued this approach is having real effects. He told Cointelegraph that some candidates appeared to be behind in polling before crypto-linked ads ran, and then won—adding that the industry appears willing to take electoral risks rather than only supporting low-uncertainty outcomes.
But analysis by Brogan Law journalist Veronica Irwin complicates the “wins equal influence” narrative. In a June 30 analysis published on Brogan Law, Irwin reportedly reviewed Fairshake’s involvement in 40 decided races and compared Federal Election Commission filings with polling data and election results. The analysis found that Fairshake-backed candidates won in 38 of those contests, but many races already tilted strongly toward the eventual winner prior to the PAC’s involvement. Using her methodology, only 16 races appeared competitive enough that Fairshake spending could plausibly have changed the outcome.
Irwin’s broader point was not that Fairshake lacks influence, but that the strategy may be more sophisticated than simple headline-level coverage suggests. She told Cointelegraph that popular accounts often read like “just the press release,” implying the PAC is “buying up all of the elections outright,” when the reality could involve a wider campaign approach enabled by the industry’s large financial resources.
That opens up a key question readers should watch: whether Fairshake’s greatest effect is directly flipping outcomes in tight races—or shaping expectations among politicians and voters so that being seen as crypto-friendly carries less political risk.
Legislation still depends on coalitions, not just advertising
Even if campaign spending can help candidates gain office, moving a market-structure bill through Congress typically requires more than winning elections. The CLARITY Act’s progress reflects months of negotiation involving lawmakers, industry participants, and outside stakeholders.
As MCSA shifted to neutrality rather than continued opposition, the message appears to be that coalition-building remains essential—especially for issues tied to financial crime concerns, consumer protection, and law enforcement roles. That pattern is visible in how Section 604 has become a focal point: even groups moving toward neutrality can still want assurance that accountability mechanisms won’t be diluted.
Ron Tarter, founder of RockWallet and a former attorney, told Cointelegraph that adoption is the foundation, lobbying translates adoption into policy engagement, and campaign spending acts as an accelerant. In his view, the political approach works because it layers different forms of pressure and influence rather than relying on one tool alone.
Irwin also suggested that crypto’s political advantage doesn’t come solely from ad budgets. She told Cointelegraph that for many voters, crypto doesn’t rank among the “top-five issues.” That creates what she described as a “sweet spot” where politicians can adopt more pro-crypto positions with limited downside, while lobbying and campaign support can make that shift more durable.
McLaren offered a final framing: the industry “played defense for years,” then decided to engage more directly at the ballot box and build an apparatus designed to advocate for regulatory clarity.
As Senate negotiators move toward potential floor action, the industry will likely focus on tightening the coalition around remaining disputes—especially around Section 604—while opponents continue pressing for assurances on oversight and accountability. The next milestone to watch is how quickly the bill’s support broadens among skeptics once the language questions are fully resolved, or whether those concerns ultimately narrow the paths to the votes needed for passage.
This article was originally published as Crypto Lobby’s $189M Campaign: Will Clarity Be Secured? on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Five Democratic senators are urging committee hearings focused on potential national security risks tied to President Donald Trump’s cryptocurrency holdings as lawmakers advance the Digital Asset Market Clarity (CLARITY) Act.
In a notice released Friday, the Democratic ranking members of five Senate committees and subcommittees asked their counterparts to examine the 2025 financial disclosures filed by Trump, which include reported earnings of about $1.4 billion connected to crypto ventures such as his memecoin activity and his family’s World Liberty Financial platform. The senators argued the disclosures raise “concerns” that Trump could push for crypto legislation that benefits the very sector in which he holds financial interests—an issue now central to the CLARITY debate.
Key takeaways
Five Democratic Senate ranking members asked for committee hearings on national security implications of Trump’s crypto holdings.
The request is tied to Trump’s 2025 financial disclosure, reported to show roughly $1.4 billion in crypto-related earnings.
Democrats say they want scrutiny of potential influence from the United Arab Emirates or other “unknown third parties.”
CLARITY’s Senate path depends on overcoming a procedural hurdle—60 votes to advance beyond a filibuster—meaning bipartisan support will likely be necessary.
The hearing push coincides with momentum on a separate measure that would bar the Federal Reserve from issuing or creating a CBDC until Dec. 31, 2030, following Trump’s decision not to sign.
Democrats seek hearings tied to financial disclosures and national security
The Friday notice calls on committee leaders to hold hearings that specifically investigate the national security implications of Trump’s cryptocurrency holdings. In the senators’ framing, the inquiry should include “the influence of the United Arab Emirates or unknown third parties on President Trump’s actions.”
The lawmakers also connected the request to their broader concern about whether the administration’s personal exposure to the crypto industry could distort the legislative process. Their argument centers on the timing of the reported financial gains and the Senate’s consideration of the CLARITY Act, which is expected to face a vote this month.
While oversight and hearing authority typically depend on party control, the Democrats’ position in both the House and Senate minority limits their ability to compel hearings without cooperation from Republicans. Still, because Senate procedures require 60 votes to end a filibuster and move most bills forward, the political reality is that some level of cross-party agreement will likely be required for CLARITY to advance.
CLARITY faces a procedural bind over ethics provisions
As Senate Democrats press for additional scrutiny, the legislative math remains complicated. According to the article, Senate Democrats have signaled they are prepared to withhold support for CLARITY unless ethics provisions are clarified. The underlying tension is straightforward: lawmakers are weighing a market-structure bill against concerns that conflicts of interest have not been adequately addressed.
On the other side, some Senate Republicans continue to push for CLARITY. For example, Cynthia Lummis has urged passage of the bill, even as the Democratic stance hardens around ethics conditions.
House leadership also appears to view the issue as politically fraught. French Hill, who chairs the House Financial Services Committee and helped the bill pass in the House in 2025, reportedly said that Trump’s crypto ties make legislation “more complicated.” That comment underscores a pattern common in contentious election-year oversight debates: the bill can clear chambers, but the remaining gatekeeping often shifts to the Senate where procedural thresholds and ethics negotiations carry outsized weight.
For investors and market participants, the hearing request may be more than symbolic. Committee scrutiny can affect bill timelines, the willingness of members to compromise on language, and the scope of enforcement or compliance expectations attached to any final version of CLARITY. Even without changes to core market-structure goals, the politics of ethics can determine whether regulators ultimately receive clear, durable legislative authority—or whether the effort stalls until new negotiating conditions emerge.
CBDC ban legislation moves in parallel as Trump declines to sign
The hearing demand arrives as another crypto-adjacent policy fight appears to be nearing a separate milestone. A bill barring the Federal Reserve from issuing or creating a central bank digital currency (CBDC) until Dec. 31, 2030 is expected to become law on Saturday after Trump canceled the signing ceremony for a bipartisan housing bill containing the CBDC ban and did not veto the legislation. The measure is set to become law automatically after 10 days.
This parallel track matters because it illustrates how US crypto policy is developing along two distinct lines. CLARITY focuses on market structure and how digital asset rules may be formalized through legislation. Meanwhile, the CBDC provision aims to limit federal central-bank issuance—an approach that can resonate with crypto advocates wary of state-issued digital currencies, even while the broader market-structure framework remains unresolved.
Together, these developments show a pattern of legislative motion despite political friction: lawmakers can still move certain provisions through the process, even as conflicts about ethics and oversight intensify around other parts of the agenda.
What to watch next in the CLARITY and oversight process
Next, the Senate’s ability to secure sufficient votes for CLARITY will likely depend on whether ethics language and oversight concerns can be addressed to satisfy enough members across party lines, while the promised committee hearings—if approved—could shape the bill’s trajectory and the scrutiny applied to any final text.
This article was originally published as Senate Democrats Push Hearings on Trump Crypto Links as CLARITY Act Advances on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

A bipartisan U.S. housing bill that includes a ban on central bank digital currency (CBDC) issuance is poised to become law without President Donald Trump’s signature, as the allowable window for action runs out.
According to the timeline described in the article, the 21st Century ROAD to Housing Act was on Trump’s desk for 10 days (excluding Sundays) as of early Friday, which is the maximum time the president can let a bill sit without either vetoing it or signing it. The U.S. Constitution provides that a bill becomes law automatically if the president does not take action within that period. Trump previously canceled a signing ceremony for the bill on June 24, and on Friday he reiterated that he would not sign it.
Key takeaways
The 21st Century ROAD to Housing Act is set to become law automatically if the president does not veto it within the constitutional timeframe.
Inside the housing package, lawmakers included language barring the Federal Reserve from issuing or creating a CBDC—or a substantially similar digital asset—until Dec. 31, 2030.
Trump said on Friday he would not sign the bill, but he did not specifically address the CBDC ban in that post.
The episode renews questions about how Trump’s approach to unrelated legislation could spill over into major digital-asset bills under debate in the Senate.
Trump declines to sign, but the bill still moves forward
In a Friday social media post, Trump confirmed that he would not sign the housing bill. He criticized the Republicans in Congress who supported the legislation, calling their actions “dumb,” and urged the Senate to focus instead on another measure, the SAVE America Act.
That voting bill would require individuals to provide proof of U.S. citizenship in person to register. The article notes that it has faced widespread criticism, including claims that it could disenfranchise citizens who are already eligible to vote.
Even with Trump’s stated intention not to sign, the legal mechanism tied to the presidential desk time matters for investors and policy watchers: if Trump does not veto the bill by the end of the constitutional window, it will become law without a signature. Senator Elizabeth Warren, who co-sponsored the bill, pointed to this dynamic, saying the “good news” is that it would become law anyway.
What the housing bill changes for CBDC policy
The housing act’s digital-asset language is the portion most closely watched by the crypto community. The measure includes restrictions that prevent the Federal Reserve from issuing or creating a CBDC—or any digital asset considered “substantially similar”—until Dec. 31, 2030.
The article says many analysts viewed the CBDC ban as a political concession designed to help build support across parties. Importantly, Trump’s Friday post criticizing the housing bill did not mention the CBDC provision, leaving unanswered how directly the administration aligns with the restriction in practice—at least for now.
For developers and market participants, a multi-year prohibition aimed at a central bank-issued token model can affect expectations about the direction of U.S. financial infrastructure. While it does not replace broader digital-asset legislation, it narrows the range of actions available to the Federal Reserve during the window specified by the law.
Could the same hesitation affect the Senate’s crypto agenda?
Beyond the housing vote, the article raises a broader policy question: whether Trump’s unwillingness to sign legislation—when it clashes with his preferences—could create similar uncertainty for major digital-asset bills in the Senate.
In May, Trump said he wanted to “future-proof” digital asset regulations. Yet his decision not to sign the housing bill, which is not directly a crypto bill, has led to speculation about the treatment of other proposals moving through Congress.
One centerpiece mentioned is the Digital Asset Market Clarity (CLARITY) Act. The article states that many observers consider it among the most significant efforts to shape digital-asset regulation. It also reports that the bill has already passed the House and cleared two crucial Senate committees.
According to the article, Republican leaders expect CLARITY to head to the full Senate for a floor vote in July, once lawmakers return from state work periods on Monday. That schedule would place the bill in a politically sensitive window—especially if Trump’s approach to signing legislation remains skeptical or conditional.
The article also highlights that Trump’s relationship with the crypto industry has already complicated negotiations between Democrats and Republicans over market-structure rules. It points to disclosures that Trump earned more than $1.4 billion in income from his crypto ventures in 2025, including memecoins and the family’s World Liberty Financial platform.
While those details don’t prove how any specific bill would be treated, they underscore why digital-asset policy is closely tied to political optics as well as regulatory substance.
Why this matters to crypto stakeholders now
The CBDC restriction embedded in a housing law is a reminder that digital-asset policy can advance through unexpected legislative channels, not only dedicated crypto bills. Even if the broader U.S. regulatory framework for tokens and exchanges remains under development, targeted provisions can still shape expectations about central bank involvement and the future design of dollar-linked digital products.
At the same time, the question raised by this episode—whether major legislation could face presidential resistance—has immediate relevance for CLARITY and other crypto-focused proposals expected to reach the Senate floor. Crypto market participants typically watch the path to a floor vote and the likelihood of final passage; presidential sign-or-veto dynamics add another layer of uncertainty even when the legislative calendar looks favorable.
In the near term, readers should watch two things: whether Trump attempts a veto on the housing bill (which would prevent the CBDC ban from taking effect), and how the Senate proceeds with the CLARITY Act as lawmakers prepare for a July floor vote. The gap between congressional momentum and presidential willingness—highlighted by this housing case—may be the key variable for crypto policy over the next legislative cycle.
This article was originally published as US CBDC ban takes effect as housing bill stalls without Trump approval on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

EU regulators are moving beyond the “license first” phase of crypto oversight and turning their attention to whether custodians can actually operate safely under stress. On Wednesday, the European Securities and Markets Authority (ESMA) launched a Common Supervisory Action (CSA) focused on the operational resilience of crypto asset service providers (CASPs), with custody services at the center of the review.
The initiative arrives soon after MiCA’s transitional period ended, marking one of the first large supervisory exercises under the EU’s new crypto rulebook. ESMA says it will examine a sample of MiCA-authorized CASPs and evaluate how mature their digital operational resilience frameworks are for custody-related activities.
Key takeaways
ESMA’s Common Supervisory Action targets operational resilience for custody services, shifting scrutiny from authorization to day-to-day risk controls.
The review will examine areas such as key and storage management, transaction controls, incident response, and reliance on third parties.
Industry executives say institutional clients are already pressing custodians for detailed evidence around segregation, access controls, and business continuity.
Legal experts note the assessment intersects with both MiCA custody obligations and the Digital Operational Resilience Act (DORA) technology risk framework.
ESMA’s findings could influence broader EU debates about how CASPs should be supervised, including potential centralization at EU level.
ESMA’s supervisory action shifts the focus to operational proof
ESMA’s CSA will apply to a selected set of authorized CASPs under MiCA. Rather than treating licensing as a compliance endpoint, ESMA’s stated goal is to assess the maturity of firms’ operational resilience frameworks specifically for custody activities.
According to ESMA, the evaluation will cover multiple risk domains: key and storage management practices, transaction control mechanisms, how firms respond to incidents, and how they manage dependencies on third-party providers. This is important because custody failures are not only a legal breach—they can quickly translate into direct operational disruption and, potentially, loss of control over customer assets.
Speaking to Cointelegraph, Sebastien Dessimoz, co-founder and managing partner at digital asset infrastructure firm Taurus, characterized the message as clear: “for custodians, a licence is the start line, not the finish.” He argued the move is constructive, reflecting how digital assets are integrating deeper into regulated financial infrastructure and therefore should meet the same resilience and accountability expectations as in traditional markets.
That emphasis on evidence is also resonating with institutions. Jody Mettler, chief operating officer of BitGo and president of BitGo Trust, told Cointelegraph that institutional clients are already asking more granular questions about custody operations—particularly how segregated assets are handled, how access controls work, what happens during incidents, and whether business continuity plans remain effective when markets are under pressure.
Two operational tests: MiCA authorization and resilience under real-world conditions
For market participants, the ESMA move underscores that MiCA authorization and operational resilience are not interchangeable. Markus Levin, co-founder of blockchain infrastructure company XYO, framed it as “two different tests,” adding that custodians capable of demonstrating robust controls before ESMA completes its review could be positioned to benefit as institutional adoption grows.
That distinction matters because it changes what “good compliance” looks like in practice. Licensing under MiCA may indicate that a firm has met baseline regulatory requirements, but operational resilience assessments require ongoing demonstration: how controls function in practice, how quickly incidents are detected and addressed, and whether third-party arrangements introduce systemic weakness.
In other words, ESMA’s CSA effectively raises the bar from formal compliance to operational credibility—an approach that can also reduce informational asymmetry between regulators, clients, and custodians about how well safeguards hold up when conditions deteriorate.
MiCA meets DORA: supply-chain risk and the challenge of concentrated custody tech
Legal analysis from Digital & Analogue Partners highlights why this particular CSA may be more complex than earlier supervisory activities. Yuriy Brisov, a lawyer at the firm, said the review sits at the intersection of two EU regulatory frameworks: MiCA, which establishes obligations for custody services, and DORA, which sets technology risk requirements for financial entities.
Brisov pointed to an industry reality that could complicate supervision: custody technology is concentrated among a small number of vendors. As a result, a single weak supplier can affect multiple custodians at once, making resilience not just a firm-level property but also a supply-chain question.
In that context, Brisov argued that proving resilience across the full supply chain under both MiCA and DORA simultaneously is the “real challenge for CASPs.” The practical implication for custodians is that they may need to show more than internal policies—they may also need to demonstrate that outsourced components and vendor dependencies are managed with sufficient depth, monitoring, and contingency planning.
ESMA’s approach could also set a benchmark for future supervisory expectations. Brisov suggested the CSA’s outcomes may inform how regulators evaluate MiCA-authorized custodians and feed into broader discussions about whether crypto supervision in the EU should become more centralized.
Why this CSA could shape the next phase of EU crypto supervision
Beyond the immediate assessment of participating CASPs, the CSA is positioned within ongoing EU policy debates. Brisov said the results could influence two active areas: the ongoing review of MiCA itself, and a proposal to shift supervision of all CASPs from national regulators to ESMA.
This matters to investors and clients because supervisory consistency is often critical when risk is cross-border and operational systems rely on similar technology stacks. If the EU moves toward more centralized oversight, firms may need to align their resilience reporting and control structures to a harmonized standard—making early preparation potentially advantageous.
At the same time, uncertainty remains about how ESMA will translate CSA findings into concrete regulatory expectations. The CSA is an assessment exercise, but its conclusions could later affect supervisory intensity, remediation requirements, or how firms design controls for key management, transaction operations, and incident handling.
For now, ESMA’s message to the custody market is straightforward: MiCA authorization is not the finish line. CASPs should watch what ESMA emphasizes in its resilience findings—especially around third-party dependencies and operational processes under stress—because those themes are likely to define what “acceptable” looks like in the next round of EU crypto supervision.
This article was originally published as MiCA Licensing Marks Start as Crypto Custodians Come Under Scrutiny on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Senate Democrats renewed calls for hearings into President Donald Trump’s crypto income and business ties before a legislative release. Five ranking members said disclosures raised national security, ethics, and conflict concerns involving the president’s family ventures. Their demand adds pressure to CLARITY Act negotiations, which could produce a Senate draft next week.
Democrats Seek Hearings Across Five Committees
Senators Elizabeth Warren, Richard Blumenthal, Gary Peters, Dick Durbin, and Ron Wyden asked chairs to schedule hearings. Each serves as ranking Democrat on a committee overseeing finance, security, justice, investigations, or taxation. They want officials to explain the structure, ownership, and foreign links surrounding Trump’s crypto businesses.
The lawmakers focused on World Liberty Financial, which Trump established with his sons and partners. They cited unclear outside ownership interests and questioned whether foreign participants could gain influence through financial ties. Their request also linked those concerns to decisions involving regulation, enforcement, and national security policy.
The senators previously sought scrutiny of a foreign investment involving World Liberty Financial and Trump-linked entities. They argued that Congress should examine whether financial relationships affected later administration decisions involving the same foreign government. However, the White House has rejected conflict claims and maintained that Trump acts for the public interest.
Financial Disclosures Put Crypto Income at Center
Trump reported more than $1.4 billion from family crypto ventures during 2025, according to his annual disclosure. Nearly $800 million came from World Liberty Financial, including token sales and transactions involving company ownership interests. The filing also listed about $635 million connected to sales of the Trump-branded meme coin.
Those figures made digital assets the largest reported source of Trump’s income during the year. His golf, resort, licensing, settlement, and property businesses produced substantial revenue, but crypto delivered the biggest total. The disclosure intensified questions about how federal policy could affect businesses that benefit the president and his family.
Trump has said his children manage the business interests, and outside funds handle his personal finances. Meanwhile, the White House has denied that the president or his family engaged in conflicts of interest. Still, Democrats argue that current arrangements do not remove financial benefits flowing to Trump-controlled trusts and related entities.
Ethics Dispute Complicates Clarity Act Talks
The CLARITY Act would divide digital asset oversight between the Securities and Exchange Commission and the Commodity Futures Trading Commission. It would establish rules for token disclosures, trading platforms, decentralized finance, customer assets, and illicit finance controls. The House passed its version in 2025, while Senate committees developed separate proposals during 2026.
The Senate Banking Committee advanced its market structure text in May, then began reconciling it with Agriculture Committee legislation. A combined draft could emerge next week, although disagreements remain over enforcement, agency leadership, and official financial interests. Any Senate measure would require reconciliation with the House bill before reaching the president.
Warren wants the legislation to restrict crypto profits for presidents, vice presidents, lawmakers, senior officials, and their immediate families. Other Democrats have tied their support to a strong ethics provision covering political figures and related business ventures. Without such language, the dispute could threaten bipartisan backing and delay the broader market structure package.
This article was originally published as Senate Democrats Seek Trump Crypto Hearings Before Clarity Act Release on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The Solana ecosystem continues to improve in performance, supported by high transaction volume, decentralized application revenues, and the growing number of tokenized assets. Even though SOL has faced price fluctuations, blockchain metrics suggest the ecosystem is attracting users and investors.
Recent network statistics show Solana has one of the highest levels of blockchain activity among other blockchains. Meanwhile, technical signals indicate buyers are attempting to form a short-term rebound.
High Network Transactions Persist
Based on blockchain dashboards provided by Tanaka, Solana is still handling up to 100 million transactions daily. The success of these transactions represents the largest percentage of all network transactions.
The most notable milestone came in early July, when the number of non-voting transactions went above one billion for the first time ever. Non-vote transactions refer to actual user activity rather than communication between validators.
Daily active addresses also remained elevated, averaging 1.93 million per day, while DEX trading volume averaged $2.09 billion daily. These statistics show that users keep participating in the project despite broader uncertainties in the crypto market.
Revenue From Applications Keeps Solana Leading in The Industry
The ecosystem of applications on Solana continues to drive significant economic activity. Following an accelerated expansion period throughout late 2024 and early 2025, application revenue slowed somewhat, though it remains high by historical standards. In the second quarter, decentralized applications built using Solana generated about $262 million in revenue.
As Tanaka noted, this figure represents around 41% of total Web3 decentralized application revenue and confirms Solana’s status as one of the top ecosystems for smart contracts in the industry. Several applications contributed meaningfully to this performance.
The largest revenue contributor was Pump. Fun, while other applications such as Jupiter, Raydium, Phantom, and Meteora also showed strong activity and transaction volumes. Revenue from applications often reflects user engagement, not only speculation.
Activity Related To Tokenized Assets Keeps Growing
Another area seeing meaningful progress is the tokenization of real-world assets (RWA). Over the last 30 days, the amount transferred in the form of RWA was about $8.57 billion, highlighting growing activity around tokenized financial instruments and blockchain asset transactions.
As RWA activity continues to expand, it suggests Solana is becoming an increasingly important infrastructure layer for blockchain-based finance beyond just cryptocurrency exchange activity. Growth in RWA also indicates that more institutional attention is being directed toward blockchain technology.
Price of SOL Shows Positive Technical Pattern
Despite positive fundamentals on-chain, the price of SOL is starting to show signs of recovery. After starting weak at the beginning of the session, the token rebounded from lower levels, reflected in a pattern of higher lows—one of the earliest indications of increasing buyer pressure.
According to the latest technical configuration, support appears at $77.00 to $77.20 after several successful attempts by buyers to defend this level. Keeping this support intact is expected to help maintain the positive recovery trend.
The next resistance stands at $78.18 to $78.32, where previous gains failed to continue due to a lack of strength and momentum. A move above this level is expected to improve the technical outlook further and draw in more buyers.
This article was originally published as Solana Ecosystem Metrics Improve Amid Network Activity To Facilitate Recovery Formation on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

New Hampshire’s executive council has rejected a proposal that would have allowed the state to issue $100 million in bonds backed by Bitcoin, dealing a setback to plans that would have extended the state’s embrace of digital-asset finance.
During a Wednesday hearing, the five-member panel voted 3-2 against the New Hampshire Business Finance Authority’s (BFA) request to issue BTC-backed bonds. The BFA had approved the issuance in November 2025, and the measure also had support from Governor Kelly Ayotte.
Key takeaways
The executive council voted 3-2 to block New Hampshire’s proposed $100 million Bitcoin-collateralized bond issuance.
CleanSpark was named as the entity providing Bitcoin collateral for the proposed vehicles issued by the BFA.
The decision follows New Hampshire’s May 2025 crypto reserve law, which set the stage for further state-level digital asset policy.
Moody’s assigned the proposed Bitcoin bond a provisional Ba2 rating in March, according to prior coverage.
Public debate included warnings from experts about risk to residents, even as parts of the crypto industry supported the concept.
Executive council vote stops BTC-collateralized bond plan
The rejection came after a split decision among councilors. According to the vote record, councilors Karen Liot Hill, Dave Wheeler, and Janet Stevens voted against the measure. Joseph Kenney and John Stephen voted in favor.
In the aftermath, state representative Keith Ammon criticized the outcome in a post on X, saying the decision was “extremely short-sighted” and urging the panel to “gather all relevant facts and information and reconsider their vote at a future meeting.”
Why New Hampshire’s crypto finance experiment mattered
The BTC-backed bonds were designed to be issued by the New Hampshire Business Finance Authority, with Bitcoin placed as collateral through CleanSpark. If approved, the proposal would have represented another step in New Hampshire’s evolving posture toward cryptocurrency after the state passed a crypto reserve law in May 2025.
Supporters in the broader crypto community had argued that Bitcoin-backed instruments could help mainstream digital asset exposure into traditional financial structures. However, opposition reflected concerns that such products may introduce risks that are difficult for retail and local stakeholders to evaluate—particularly in a vehicle intended to function like municipal-style financing.
Risk concerns and Moody’s provisional rating
Not all market participants viewed the plan as straightforward. Some experts warned against the proposal, describing it as carrying “substantial risk” for New Hampshire residents. Their objections centered on the potential volatility and custody-related complexities of using Bitcoin as collateral for public finance-style instruments.
Prior reporting also noted that Moody’s assigned the Bitcoin bond a provisional Ba2 rating in March, underscoring that the credit assessment—while not final—still considered meaningful risk factors. That provisional rating added another layer to the debate: even with an external rating process underway, the executive council ultimately concluded that the plan should not move forward at this time.
What happens next for digital asset policy in New Hampshire
With the council vote going against the issuance, New Hampshire’s near-term path to using Bitcoin within state-backed financial tools appears to narrow. The move also signals that political and regulatory appetite for crypto-linked public finance may vary sharply even when a state’s leadership has already supported broader crypto legislation.
For builders and investors tracking the state as a potential “proof of concept” location, the rejection is a reminder that approval for crypto-adjacent instruments depends not only on legislative frameworks, but also on executive-level risk decisions and the way collateral arrangements are perceived in practice.
Readers should watch whether the BFA revisits the structure of the proposed BTC-backed vehicles, seeks a revised vote, or instead shifts toward other compliance-forward approaches that align with both the state’s crypto reserve direction and the council’s risk concerns; the council’s split decision suggests that future proposals could still find a narrow path to approval if they address those objections directly.
This article was originally published as New Hampshire Council Rejects $100M Bitcoin Bond Proposal on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

JPMorgan analysts believe blockchain adoption that does not benefit public blockchains and their tokens poses a greater risk to Bitcoin than to Strategy and its BTC monetization program.
According to a report by the banking giant, investors view Strategy’s monetization program as a risk to the crypto market that may create periodic selling pressure.
Strategy Isn’t Bitcoin’s Biggest Risk
The analysts, led by managing director Nikolaos Panigirtzoglou, said that if tokenization, payments, and settlements happen outside public networks, the broader crypto ecosystem could see lower activity, liquidity, and weak capital inflows, which could put pressure on Bitcoin.
The analysts said, “We do not see Strategy as the main structural threat to bitcoin. In our view, the more important risk to bitcoin stems from the broader crypto ecosystem and from blockchain adoption within traditional finance continuing to develop in ways that bypass public permissionless networks.”
A Threat For Public Blockchains
The analysts highlighted that institutions have largely favored permissioned blockchains because of stronger know-your-customer (KYC), anti-money laundering (AML), and privacy controls. They also provide regulatory certainty, legal accountability, and throughput. This preference for permissioned blockchains creates increased competition for public blockchains like Ethereum.
They also pointed to the Bank for International Settlements’ (BIS) warning against using public permissioned blockchains for financial infrastructure due to concerns about scalability, governance, accountability, and settlement finality. BIS has promoted permissioned ledgers offering tokenized central bank money, commercial bank deposits, and tokenized assets within regulated departments.
Additionally, banks are building blockchain infrastructure, including tokenized deposits backed by existing banking regulations, deposit insurance frameworks, and customer relationships. Widespread adoption of tokenized deposits could reduce dependence on stablecoins in institutional payments and settlements. SWIFT’s recent launch of its own blockchain ledger and other central bank digital currency (CBDC) projects also strengthen regulated alternatives to public blockchains.
The analysts also noted that real-world asset (RWA) tokenization could remain within traditional financial infrastructure rather than move to public blockchains.
Public Blockchains To Take A Limited Role
Institutional adoption could push custody, settlement, issuance, and lifecycle management toward permissioned blockchains that are better suited to meet requirements around privacy, confidentiality, and governance. Meanwhile, public blockchains could see limited use for distribution, secondary trading, and interoperability. However, the prevalence of private and permissioned blockchains could relegate public chains to a secondary role.
The analysts also questioned the efficiency of public blockchain settlements, noting that netted settlement could reduce liquidity needs, improve capital efficiency, and help manage funding and operations. They also highlighted examples such as DTCC’s work developing tokenized workflows on permissioned infrastructure and selective collaboration with Stellar. DTCC has also piloted tokenized US securities using the Canton Network and ComposerX.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
This article was originally published as Blockchain Adoption Not Benefiting Public Chains And Networks Is A Bigger Threat To Bitcoin Than Strategy on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The Digital Chamber has submitted an amicus brief against a New York lawsuit asking to acquire 39,069 dormant Bitcoin wallet addresses holding an estimated 3.7 million BTC. It says the case could impair the concept of digital property rights and digital self-custody.
Digital Chamber Challenges Dormant Bitcoin Wallet Ownership Claims
The blockchain trade association issued a statement on Monday stating that such a ruling would lead to confusion over who owns digital coins in the cryptocurrency ecosystem. It said inactive self-custodied Bitcoin wallets are not abandoned property. The group said the plaintiffs’ theory “fractures fundamental principles of digital asset ownership and extends beyond the crypto market.
In the suit filed in May by the plaintiff, Noah Doe, and two Wyoming companies, the New York Supreme Court is seeking to rule that thousands of inactive Bitcoin addresses constitute abandoned property under Article 7-B of New York’s Personal Property Law. The plaintiffs are asking for ownership of the wallets, which Timechain Index, a blockchain analytics company, estimates contain approximately 3.7 million BTC valued at approximately $234 billion at today’s market values. Several wallets connected to the creator of Bitcoin, Satoshi Nakamoto, are reportedly in that list.
Blockchain Activity Undermines Dormant Wallet Ownership Claims
It is alleged that Noah Doe discovered a vulnerability that would make it impossible for some owners to access their Bitcoin holdings. He said he tried to find the owners of the wallets for over a year before his suit and subsequently granted an ownership stake in most of the challenged wallets to two Wyoming-based companies.
Opposition against the case has increased in the legal community. A so-called “John Doe 33” made this appeal to the court last week, claiming that Bitcoin addresses are data strings and not legal entities, so they cannot be sued. M&A attorney Ian R. Cohen also has sought permission to appear as amicus curiae.
As for the alleged “abandonment of many wallets,” meanwhile, blockchain activity has debunked the notion. According to recent data, at least 31 addresses mentioned in the lawsuit conducted 17,527 transactions involving BTC in June. The case has been paused until July 14, when oral arguments will be heard. Separate questions concerning ownership of rights to the Bitcoin are pending from any control over the keys required to access the Bitcoin.
This article was originally published as Digital Chamber Files Amicus Brief in New York Bitcoin Ownership Case on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Key Points
Dogecoin price is trading below the resistance area marked by $0.07596 and $0.07652.
Bulls continue holding onto support at $0.07437, avoiding further losses.
Volume of trades keeps increasing despite poor price performance.
The breakout of support will bring $0.07290 into play as the next target.
A breakthrough of resistance at $0.07652 will negate the bearish view, taking price towards $0.07883.
Dogecoin Price Moves in Tense Decision-Making Zone
Dogecoin price is moving sideways as both buyers and sellers are locked in fierce battles for short-term control of the pair. Even though bulls have managed to hold vital support levels during the past trading days, sellers have not relented and are still sitting pretty near resistance levels.
Such an indecisive price action is indicative of a market waiting to confirm whether it wants to make any move. Indeed, the volume of trades has been growing, but there has been no price movement out of the defined support and resistance zones. Despite occasional short-term bounces, the overall situation remains tough as bearish momentum persists.
Bearish Structure Dominates Again
The latest technical assessment conducted by Finora AI still sees bearish signals for Dogecoin on an hourly time frame. It considers the $0.07596 to $0.07652 price zone as a powerful supply zone or fair value gap. In other words, a powerful selling sentiment can be seen around this level.
In fact, this resistance zone has already been rejected many times within the last several trading days. Each time when bulls attempted to break above this level, the price was met with increased selling pressure and the current bearish structure remains intact.
As per this assessment, traders must be looking for bearish confirmation before taking new short positions. The mere touch of this resistance zone doesn’t guarantee a reversal, and each failed attempt makes this probability higher. The report also states that the only way to invalidate this bearish sentiment is a decisive close above $0.07652. This will mean bulls have the upper hand again and the price might move towards its next upside target near $0.07883.
Support at $0.07437 Is Crucial
As of writing, Dogecoin is trading at $0.07515, which shows that the cryptocurrency has declined by about 1.2% in the past 24 hours. Despite the losses witnessed so far, buyers have been trying hard to defend the support area located between $0.07437 and $0.07450.
So far, each move below this area has seen bulls buying Dogecoin in bulk, thereby stopping the losses. Nonetheless, recoveries have not been impressive, indicating that bull power is still relatively weak.
According to Finora AI, $0.07437 represents the first target of the bears. In case sellers manage to push price below this support area, further declines towards the next level at $0.07290 can be expected.
On the other hand, Finora AI presents another scenario. If the price moves below the support briefly before bouncing back due to liquidity sweeps, there is the likelihood that bulls will push price back above the resistance located at $0.07596.
Trading Volume Keeps on Growing
While the price performance was not as impressive, market participation has become much stronger. The 24-hour trading volume of Dogecoin has gone up by about 32.38% and is now standing at close to $801 million. Increased volume when prices are falling usually shows that traders are actively positioning themselves on both sides of the trade.
In the meantime, the market cap of Dogecoin can be estimated at $12.82 billion, with its fully diluted valuation coming very close to this number because most of the tokens have already entered circulation. Around 170.68 billion DOGE are circulating right now. Higher volume shows that traders are still interested in waiting for the direction.
What Should Traders Look For Next
The upcoming trading sessions may be crucial in determining Dogecoin’s immediate trend. So long as price trades below $0.07652, sellers are still dominant and the bearish trend is expected to continue. Any breakdown below $0.07437 will raise the expectations of a decline in the crypto to the level of $0.07290.
On the other hand, any break above the level of $0.07652 will reduce the strength of the bearish trend. A strong bullish movement in the market may see buyers target the resistance at $0.07883.
Currently, the cryptocurrency is caught in a well-defined technical range. Traders will likely wait for a decisive breakthrough to get a clear direction of where the crypto is going next.
This article was originally published as Dogecoin Price Defends Support Despite Bear Defense on Resistance on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Key Insights
The XRP price remains above support, supporting bullish market sentiment.
Open interest and options activity indicate strong participation from derivatives traders.
Breakouts above resistance could allow bulls to advance further.
Xrp Price Steady As Bullish Sentiment Grows Stronger
As bullish momentum continues to grow stronger in both spot and derivative markets, XRP is drawing attention. The bulls have held key support levels, and participation in the futures and options markets suggests traders still see upside for the asset. While price action has cooled after the previous run-up, sentiment remains positive as investors wait for another breakout.
A balance of solid trading volumes, support, and derivatives participation has kept XRP among the most-watched cryptocurrencies. The key question now is whether the new buying pressure can help XRP break through its resistance levels.
Technical Formation Still Bullish
According to crypto analyst John Squire, there is an estimated 80% to 85% chance of seeing another leg higher. In his view, XRP is gathering steam ahead of a market catalyst that could propel the asset toward further gains.
On the one-hour chart, the technical picture remains bullish. The coin has traded sideways for several hours and has pushed above multiple resistance levels in a single move. The resistance area between $2.30 and $2.35 is now acting as support. If buyers can hold this level, the bullish structure should remain intact. The next technical target is around $2.40 to $2.50.
Consolidation Is A Good Indicator Of Stability In The Markets
After its recent run, XRP entered a phase of controlled consolidation rather than being sold aggressively. This is typically considered healthy because it allows the market to digest gains before moving higher again.
Initially, buying activity lifted XRP from around $1.11 to the $1.15 to $1.16 resistance zone. Despite profit taking that eventually slowed the advance, sellers did not apply enough downward pressure to reverse momentum. Instead, they formed higher supports in the $1.12 to $1.13 area.
Volume And Derivatives Back Up The Bullish Thesis
Past market experience suggests XRP’s most impressive upward moves have occurred alongside pronounced volume spikes. In previous breakout scenarios, trading volume surged, including one massive increase nearing $80 billion during the rally when XRP rose from roughly $1.00 to the $2.50 to $3.00 range.
Even though volume is lower right now, it is still higher than it was before the previous breakouts. This signals that overall market participation remains healthy despite the slowdown in price dynamics.
Derivatives data adds more support for the bullish case. According to Coinglass indicators, open interest increased by 1.48%, and options trading volume rose 29.23%. Options open interest also climbed by 6.90%.
Long positions outnumber shorts across major exchanges, suggesting there may be room for a new bull run as many traders position for it. If buying appetite increases and XRP breaks above resistance, a strong technical setup, greater derivatives involvement, and robust market activity could support the move.
This article was originally published as Xrp Price Seeks To Breakout As Bulls Build On Upward Momentum Thanks To High Derivatives Activity on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Crypto in India can’t seem to catch a break. Recent developments have led to fresh uncertainty as the Reserve Bank of India (RBI) backed a policy banning cryptocurrencies, while the Income Tax Department flagged compliance concerns.
Despite India’s ambiguous stance on cryptocurrencies, it remains one of the leading markets in grassroots adoption of crypto. The country has around 39 million users, holding just over $2 billion in assets.
RBI Pushes For Crypto Ban
India’s crypto policy could remain muddled for the foreseeable future after the RBI reiterated its support for a policy leaning toward banning cryptocurrencies. According to officials and documents accessed by Reuters, the central bank wants banks and other financial institutions barred from exposure to crypto and private stablecoins to limit risk to lenders and the broader financial system.
Cryptocurrencies have operated in a grey area since 2018, when an Indian court struck down policies that effectively banned crypto in the country. While Indian banks are allowed to engage with cryptocurrencies, the RBI has issued repeated statements warning lenders to stay away.
The RBI’s opposition extended to stablecoins as well, arguing that stablecoins backed by foreign fiat currencies are a risk to India’s sovereignty. It also argued against rupee-backed stablecoins, stating that such tokens could reduce government income and impact financial stability during difficult economic circumstances. The RBI also argued that stablecoins could make it difficult to tax cryptocurrency gains because holders won’t need to convert their holdings into fiat currency.
Tax Department Flags Concerns
India’s Income Tax Department has also raised concerns about the misreporting of crypto holdings in tax return disclosures. The department found that less than a quarter of the 645,000 individuals reported their cryptocurrency transactions on their tax returns during the financial year ending March 2023. Additionally, transactions completed using private wallets and overseas exchanges are significantly harder to trace and recover taxes. The department also stated that rupee-denominated peer-to-peer trades made it difficult to track taxable income.
A Regulatory Dead Zone
India’s crypto policy has been muddled for several years. The RBI had initially prevented banks from providing services to crypto businesses and exchanges operating in India, effectively banning the industry. However, a court struck down these provisions in 2018. Despite the court ruling allowing cryptocurrencies to operate, the government has been reluctant to introduce key regulatory oversight. As a result, cryptocurrencies have been operating in a grey area.
In 2021, the government prepared a draft bill to ban private cryptocurrencies. However, the bill was not introduced in parliament. A discussion paper around cryptocurrencies has also seen several delays. Publicly, the government has said that crypto policies must strike a balance between encouraging innovation, managing risk, ensuring financial stability, preserving monetary sovereignty, and safeguarding consumers.
What Is The Way Forward For Crypto in India
India’s Finance Ministry held internal discussions with the RBI in September, supporting limited clarity for virtual digital assets (VDAs) and arguing that existing tax rules could mitigate risks associated with cryptocurrencies. However, the latest documents reveal the government remains concerned about the risks posed by cryptocurrency trading without proper regulatory safeguards.
While the RBI remains steadfast in its opposition to crypto and advocates a strict policy, several government bodies, including the ICAI, have favored clear regulatory guidelines to establish a legal framework for cryptocurrencies. Additionally, the government taxes crypto transactions heavily, with each transaction subject to a 30% flat tax on capital gains and 1% Tax Deducted at Source (TDS).
Despite the uncertainty, India remains one of the largest cryptocurrency markets in the world. The government must hold comprehensive consultations with all stakeholders and create a clear regulatory framework to govern digital assets.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
This article was originally published as Fresh Uncertainty For Crypto in India As RBI Pushes For Ban, Tax Department Flags Risks on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Bitcoin (BTC) and the broader cryptocurrency market were back under pressure after US President Donald Trump warned of renewed military action against Iran, effectively ending the fragile ceasefire in place since April.
The flagship cryptocurrency tumbled nearly 2% on Wednesday, falling to a low of $61,453 before settling at $62,237. Others fared equally badly if not worse, with Ethereum (ETH) down 1.34% at $1,732. Ripple (XRP), Solana (SOL), Dogecoin (DOGE), Stellar (XLM), Chainlink (LINK), and other tokens are also trading in the red.
US-Iran Ceasefire Effectively Over
The downturn came after President Trump declared the ceasefire with Iran effectively over. The US launched fresh airstrikes against Iranian assets after the latter attacked three commercial vessels in the Strait of Hormuz. Trump stated during an interaction with reporters that he does not want to deal with Tehran anymore, calling it a “waste of time.”
“To me, I think it’s over. I don’t want to deal with them anymore. Dealing with Tehran is a waste of time.”
Trump’s comments have reignited fears of the conflict escalating once again, as Iran vowed to hit US assets across the Middle East.
The US military stated that it had struck over 80 Iranian targets after three commercial vessels linked to Qatar and Saudi Arabia were attacked in the Strait of Hormuz. Iran accused the US of violating the agreement between them, with Speaker Mohammad Bagher Ghalibaf stating that the US broke the ceasefire by bringing back oil sanctions, launching fresh attacks, and resuming military action in the region.
Markets React
Markets reacted almost instantly, with crude oil prices rising 5% as the market priced in potential supply disruptions. The S&P 500 fell 1% while the Nasdaq 100 dropped 1.5%. The Dow Jones Industrial Average also declined, falling 1.3%. Gold initially rose but failed to maintain momentum, eventually falling around $2.5% to $4,030. The cryptocurrency market followed suit, as CoinGlass data revealed that 125,335 traders were liquidated for $385 million in 24 hours.
BTC, which reached an intraday high of $64,658 on Monday, fell nearly 2% on Wednesday to a low of $61,453 after failing to reclaim $65,000, before settling at $62,237. Analysts have been keeping a close eye on the $64,000-$65,000 zone, which has acted as resistance since early June. Traders now believe BTC could slip to a low of $55,000 before rebounding.
Ethereum (ETH) confirmed a weekly death cross as its 50-week EMA fell below its 200-week EMA. Traders on prediction markets are betting that the altcoin has a 72% chance of dropping to $1,500 before rebounding and reclaiming $3,000. Ripple (XRP) is trading at $1.09, while Solana is at $78. Meanwhile, the Crypto Fear and Greed Index has shown a marginal improvement, rising to 26.
Crude Supplies Could Be Hit
President Trump’s statements fueled concerns about crude oil supply after he threatened to hit key bridges, the electricity grid, and its desalination plants. Trump also hinted that the US could take control of Kharg Island, Iran’s primary oil export terminal. The island is one of the world’s primary energy infrastructure sites, and disruptions could put substantial pressure on oil prices. Market watchers believe any developments around Iran’s oil infrastructure, positive or negative, could have lasting effects on oil, equity, and cryptocurrency markets.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
This article was originally published as Bitcoin (BTC) Wilts As US-Iran Tensions Escalate, Trump Warns Of Fresh Military Action on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

A Bitcoin resistance breakout continues to be among the most monitored technical events in the market amid a crucial week for BTC. Despite the many times BTC has defended an essential support level, the cryptocurrency is once again rallying toward a descending resistance level that has previously limited past rallies.
Despite positive buying pressure seen lately, there are still some concerns from traders amid the expected breakout by BTC. There are clear indications that Bitcoin is heading into a defining point.
Bitcoin Bounces Back After Another Successful Defense of Its Support
Bitcoin has bounced back after yet another successful defense of its support level, reaffirming the belief of the traders. As shown on a chart published on CryptoBusy, buyers intervened close to the lower edge of the current trading range, stopping further downside.
The formation of a huge descending triangle continues to be seen on the daily chart, a structure that has prevailed for a few months now for Bitcoin. Although buyers are defending the horizontal support level, sellers have also been defending the descending resistance trendline.
The current bounce in Bitcoin has brought it closer to the middle of the triangle, but the upper trendline acts as the main technical hurdle.
Descending Triangle Tightens Further
The narrowing pattern of the descending triangle implies that the cryptocurrency is on the verge of making a crucial move. With each passing day, price compression becomes tighter, a situation that often precedes a period of increased volatility.
The previous rallies have been turned away at the descending trendline, underscoring its importance as the resistance level in the market. Meanwhile, there have been attempts from buyers to defend the horizontal support level.
A breakout above the resistance level would be considered a major positive development if it receives good trading volume support. Otherwise, the focus will continue to be on the consolidation phase.
Balance in the Futures Market
Currently, there is a relatively balanced situation in terms of bulls and bears in the futures market of Bitcoin. Compared with some previous months, the level of liquidations has significantly decreased, so we can assume that leverage in the market is not too high at the moment. The largest liquidations were observed in early February and early June, when the amount of long liquidations for some time surpassed the mark of $1 billion. At the moment, the levels of liquidations are much lower, so there are fewer chances for a sharp move due to liquidations alone.
On the other hand, open interest is still relatively high on the main futures exchanges. The leader on the open interest list is Binance with $8.80 billion in Bitcoin futures contracts; CME, Bybit, and OKX also have significant open interest. The futures trading volume is also high, with Binance processing about $9.04 billion in trades.
This article was originally published as Bitcoin Resistance Breakout Stands at Crossroads as Bulls Challenge Important Trendline on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

The cryptocurrency market recorded heavy losses after fresh geopolitical tensions triggered broad selling across digital assets. Bitcoin slipped below the $62,000 level, while Ethereum and XRP extended declines during the market-wide downturn. At the same time, leveraged positions worth nearly $450 million were liquidated, reflecting stronger volatility across major cryptocurrencies.
Bitcoin Leads Crypto Market Liquidations
Bitcoin recorded the largest liquidation volume after sellers pushed the asset below the $62,000 mark. The decline followed renewed geopolitical uncertainty after U.S. President Donald Trump declared the memorandum of understanding with Iran had ended. Consequently, traders reduced exposure across risk assets as volatility increased.
CoinGlass data showed that the crypto market registered $449.63 million in liquidations during the past 24 hours. The platform recorded liquidations affecting 145,221 traders across major exchanges. Long positions accounted for $343.43 million, while short positions represented $106.20 million.
Bitcoin alone contributed $99.90 million in liquidations during the market correction. Binance also recorded the single largest liquidation after an ETHUSDT position worth $7.24 million closed automatically. Meanwhile, broader selling pressure continued across leading cryptocurrencies as market sentiment weakened.
Ethereum Faces Heavy Selling Pressure
Ethereum followed Bitcoin lower as traders exited leveraged positions during the broader market decline. CoinGlass data showed Ethereum liquidations reached approximately $90.67 million over the reporting period. Selling activity remained elevated across major trading platforms throughout the session.
The market downturn coincided with rising geopolitical risks involving the United States and Iran. Trump indicated that discussions with Iran no longer remained productive and signaled an end to the previous diplomatic framework. Those developments increased uncertainty across global financial markets and weighed on digital assets.
At the same time, reports pointed to fresh military developments in the Middle East. Iran’s Islamic Revolutionary Guard Corps announced responses following recent U.S. strikes and additional sanctions targeting Iranian oil exports. Regional tensions also affected shipping activity around the Strait of Hormuz, increasing pressure on broader risk markets.
XRP Declines As Market Sentiment Weakens
XRP also moved lower as the wider cryptocurrency market extended losses. Liquidation data showed more than $9 million in XRP positions closed during the latest selling wave. The decline reflected broad market weakness instead of asset-specific developments.
Outside XRP, Solana recorded approximately $24.19 million in liquidations, while other cryptocurrencies combined reached $60.83 million. The figures highlighted widespread selling across the digital asset market rather than isolated weakness. Consequently, major cryptocurrencies experienced synchronized declines during the trading session.
Additional developments also influenced overall market sentiment during the day. Israeli media reported that U.S. Defense Secretary Pete Hegseth canceled a planned visit to Israel as regional tensions intensified. Combined with ongoing geopolitical uncertainty, those developments added pressure across cryptocurrency markets and increased short-term volatility.
The latest selloff continues a pattern where geopolitical events quickly influence digital asset prices alongside traditional financial markets. Bitcoin, Ethereum, and XRP have previously experienced similar reactions during periods of heightened global uncertainty. Although cryptocurrency markets operate continuously, macroeconomic events and international conflicts still shape short-term price movements through changes in market sentiment and leveraged trading activity.
This article was originally published as Crypto Market Selloff Wipes $450M As Bitcoin, Ethereum, And XRP Drop After Trump Iran Remarks on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.

Backpack, a crypto exchange, has rolled out 24/7 trading for select tokenized US equities, giving international users a way to trade stocks tied to companies such as SpaceX, Micron, and SanDisk outside traditional market hours. The company said the initial rollout focuses on a limited basket of US listed names, with more planned later.
Backpack’s offering is designed to provide direct ownership of the underlying shares rather than synthetic market exposure. The exchange states that trades can be settled instantly and funded using either fiat or stablecoins.
Key takeaways
Backpack is enabling around-the-clock trading for tokenized US equities including SpaceX, Micron, and SanDisk.
The exchange says users receive direct ownership of underlying securities, not synthetic exposure.
Backpack also issues Solana-based tokenized versions that are transferable between wallets and can be redeemed 1:1 for shares through Backpack.
RWA.xyz data cited by Backpack’s announcement points to rapid growth in tokenized stocks over the past year.
Tokenized SpaceX shares reportedly became the most actively traded tokenized private company shares after launching in June, though Backpack did not provide volumes.
How Backpack’s 24/7 tokenized equities work
Backpack said its new product is built for continuous trading by offering tokenized equity access that runs 24 hours a day. For this first stage, the company highlighted that investors will hold the underlying securities directly rather than taking a derivative-style position.
According to Backpack, settlement is instantaneous and supported through both fiat payments and stablecoin funding. The initial catalog of equities is limited, but the company indicated it intends to expand the list beyond the initial names.
The exchange also emphasized an onchain angle: it provides Solana-based tokenized versions of the securities. These tokens are transferable between wallets, can be used in decentralized finance applications, and—crucially—can be converted 1:1 into the corresponding shares via Backpack.
Backpack further said the service is available to investors across more than 150 countries and regions and that tokenized equity trading is supported by liquidity sourced from traditional exchanges.
What’s notable about SpaceX volumes
In discussing early demand, Backpack said tokenized SpaceX shares became the most actively traded tokenized version of the private rocket and AI company after their launch in June. However, the exchange did not disclose trading volumes or offer direct comparisons to tokenized equity offerings from other platforms.
For traders and users, that matters less as a benchmark and more as a signal: among early private-company tokenized products, SpaceX appears to have attracted the most continuous activity. The lack of published volume figures leaves open how that activity compares on a liquidity and execution-quality basis versus peers.
Tokenized equities keep accelerating across the market
Backpack’s launch arrives as tokenized equities continue to expand within the broader onchain real-world assets (RWA) category. RWA.xyz data cited in connection with the release shows the tokenized stock market growing from roughly $379 million to $1.85 billion over the past year.
That growth is also described as accelerating in the near term. Over the last 30 days, the cited dataset reports distributed value rising 28.6% and monthly transfer volume increasing by more than 85% to $8.76 billion. Those figures suggest that tokenized stocks are not only attracting initial interest, but also seeing increasing throughput.
Crypto exchanges have played a major role in driving that adoption. The article notes that Kraken acquired xStocks developer Backed Finance in late 2025 and has since expanded the platform across its exchange. It also highlights that Bybit and Bitget have integrated xStocks, while Coinbase and Binance have rolled out tokenized equity offerings in recent months.
Traditional finance is joining the 24/7 shift
Alongside exchange-led launches, major traditional market infrastructure has increasingly engaged with tokenization. In March, the US Securities and Exchange Commission approved Nasdaq’s pilot to trade tokenized stocks alongside conventional securities on the same exchange. Earlier coverage also referenced the New York Stock Exchange’s partnership with Securitize to build a 24/7 platform for tokenized stocks and ETFs.
Infrastructure providers are moving too. The Depository Trust & Clearing Corporation (DTCC) announced plans to launch a tokenized securities service in October, following a pilot that involved more than 50 financial and crypto firms. While these developments are not identical to Backpack’s product approach, they collectively point to the same direction: tokenized securities are starting to move from experimental pilots toward broader market plumbing.
For investors, the practical difference between “traditional securities access” and “tokenized securities access” often comes down to trading hours, settlement pathways, and how easily assets can be used in onchain workflows. Backpack’s framing—instant settlement, direct ownership, transferability, and redemption 1:1—targets those friction points directly.
Even so, readers should watch how liquidity holds up as more equities are added. The industry’s growth indicators are compelling, but questions remain about depth across different issuers, redemption mechanics in stressed conditions, and the consistency of pricing when token markets run continuously.
This article was originally published as Backpack Enters 24/7 Tokenized Equities as It Targets Global Stock Trading on Crypto Breaking News – your trusted source for crypto news, Bitcoin news, and blockchain updates.