Crypto World
Solana Foundation and Toss Bank Sign MOU to Rebuild Korean Remittance Rails
Solana News: The Solana Foundation and Toss Bank signed a Memorandum of Understanding, marking the first direct partnership between a South Korean internet-only bank and the Solana ecosystem, and positioning the deal squarely inside parent company Viva Republica’s pre-IPO technology narrative.
SOL sitting at $74 on the announcement, with trading volume rising 8% over 24 hours, though concurrent US-Iran peace talk developments complicate clean attribution of that volume spike to the MOU alone.
Toss Bank serves 15 million customers across South Korea as the country’s third-largest internet-only bank, and its overseas remittance service already covers 30 countries and 7 major currencies.
That existing footprint gives the Solana-based proof of concept a non-trivial addressable base from day one; this is not a greenfield experiment.
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Solana News: MOU Scope, Four Workstreams, One Live PoC
The MOU covers four areas: a proof of concept for global remittance and settlement infrastructure built on Solana; joint research into blockchain-based payment and settlement models; exploration of stablecoin and digital asset financial services; and a longer-term cooperation framework that includes integration with overseas banking partners and AML/KYC compliance systems.
The immediate live work is the PoC, everything downstream of that depends on what it produces.
Jin-hyun Park, head of strategy at Toss Bank, said the partnership launches “a phased pilot within the innovative services already provided by Toss Bank,” with the stated goal of delivering “quicker and more economical global digital finance through Solana” to its 15 million customers.
The framing is deliberate: this is positioned as an upgrade to existing infrastructure, not a speculative pivot into crypto.
Solana’s technical case here is straightforward: sub-second finality and transaction fees measured in fractions of a cent make it a credible rail for high-volume cross-border settlement, where SWIFT-era correspondent banking costs are the baseline to beat.
The tokenization roadmap comes later, contingent on PoC outcomes and regulatory clearance. An MOU is a narrative event; live PoC results are execution events. The market will need to see the latter before the former carries durable weight.
The Solana Foundation had already been building Korean institutional infrastructure before this deal. A separate MOU with local firm Wavebridge targets a KRW-pegged stablecoin designed to be “issued, validated, regulated, and suitable for institutional applications,” with on-chain settlement and tokenized deposit functionality involving major Korean banks. The Toss Bank partnership slots into that broader Korea strategy rather than standing alone.
Why the Solana Bet Lands Now: Viva Republica’s $10B IPO Play
Viva Republica, the parent company behind Toss Bank and the broader Toss super-app ecosystem, is targeting a US IPO in 2026 at a valuation exceeding $10 billion.
The firm has raised over $1.2 billion from investors, including GIC, Sequoia China, and Kleiner Perkins, and boosted Toss Bank’s paid-in capital to roughly 1.4 trillion won (~$1 billion) across six funding rounds to support growth and listing readiness.
The Solana MOU serves three functions in that IPO story. First, it reframes Viva Republica as a cross-border payments platform tapping a projected $320 trillion global payments market, not merely a domestic Korean neobank, which commands a tighter multiple on a US exchange. Second, the compliance-first architecture (AML/KYC integration, bank license, regulated stablecoin rails) places Toss in the regulated-innovator category rather than alongside unregulated crypto firms, a meaningful distinction for US institutional allocators.
— Cryptothreads.io (@CryptoThreadsX) June 22, 2026
A bank with 15M users just picked Solana for cross-border payments.
South Korea's Toss Bank signed an MOU with the Solana Foundation to pilot stablecoin-powered international remittances – the first of its kind between a Korean digital bank and Solana.
Why #Solana?… pic.twitter.com/zLTuALSc1r
Third, blockchain settlement rails lower marginal cost per remittance transaction, supporting the margin expansion narrative that pre-IPO models need.
This is legitimate strategic positioning, not window dressing, but the distinction between a partnership announcement and shipped infrastructure matters for any investor reading the prospectus. Viva Republica is telling a story that the PoC needs to eventually validate.
The regulatory context adds urgency. South Korea plans to impose foreign exchange controls on crypto transfers starting December 2026.
Toss Bank moving now, via a licensed, compliance-integrated framework, positions it ahead of that cutoff rather than scrambling to retrofit after the rules land. The Bank of Korea’s concurrent wholesale CBDC and tokenized deposit pilot with 100,000 users provides the policy backdrop that makes a bank-grade stablecoin remittance product politically viable rather than speculative.
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Senator Lummis has made Section 604 of the CLARITY Act the centerpiece of her case for developer protection, citing the August 6, 2025 conviction of Tornado Cash co-founder Roman Storm as the clearest evidence that open-source developers face genuine criminal exposure under current law.
The provision would codify a federal safe harbor exempting non-custodial software builders from classification as money transmitters, a direct statutory response to the prosecution theory that put Storm in front of a jury.
The bill cleared the House 294-134 in July 2025 and the Senate Banking Committee 15-9 in May 2026, but has not received a Senate floor vote.
What the provision actually covers is more specific than the industry framing implies, and what it leaves intact is more significant than its supporters tend to acknowledge.
CLARITY Act Section 604: What the Legislative Record Actually Shows
The Digital Asset Market Clarity Act passed the House with a 294-134 bipartisan margin in July 2025, a vote count that reflected genuine cross-party support for bringing regulatory structure to crypto markets.
The Senate Banking Committee followed in May 2026 with a 15-9 vote advancing the bill to the full chamber. Senate floor action has remained procedurally uncertain, with no scheduled vote and active inter-committee friction still unresolved.
Senator Lummis has pointed explicitly to the Roman Storm case as the bill’s animating example. Storm, a co-founder of Tornado Cash, an open-source privacy protocol built on Ethereum, was convicted of conspiracy to operate an unlicensed money transmitting business.
The jury deadlocked on the two more serious charges: conspiracy to commit money laundering and conspiracy to violate sanctions. The conviction carries a maximum five-year sentence.
More than 60 CEOs and founders, including executives from Coinbase, Uniswap, Kraken, a16z crypto, and Paradigm, signed a letter to Senate leadership in June calling Section 604 a non-negotiable condition of their support for the broader bill.
“Software developers should not need an army of lawyers to know if their code is legal. The Clarity Act ends that absurdity,” Lummis said. That framing captures the legislative intent. Whether the provision delivers on it depends on the specific legal architecture of Section 604 itself.
Section 604 Decoded: The Non-Custodial Developer Exemption
Section 604 is drawn directly from the Blockchain Regulatory Certainty Act (BRCA), legislation first introduced in 2018 and folded into the CLARITY framework after years of reintroduction.
Its operative text specifies that a non-controlling developer or provider shall not be treated as a money transmitting business under 31 U.S.C. § 5330, nor as engaged in money transmitting under 18 U.S.C. § 1960, solely because they publish distributed ledger software, provide self-custody tools, or run infrastructure nodes.
The provision codifies what FinCEN’s 2019 guidance already stated administratively: that non-custodial developers who never control user funds are not money transmitters.
The threshold is the “non-controlling” test. A developer qualifies only if they lack the legal right to control user transactions, lack unilateral ability to initiate transactions on demand, and cannot effectuate transfers without another party’s approval.
Non-custodial protocols, by design, meet all three conditions, the smart contract executes autonomously, and the developer has no key that moves funds. Tornado Cash fits that architecture precisely.
Under Section 604, the act of writing and deploying that code would not, standing alone, make Storm a money transmitter under federal law.
Section 604 is also paired with Section 601, which limits SEC registration obligations for non-custodial software builders, and a commodities-law carve-out under Section 207, together creating a three-part framework that treats open-source developers as technical publishers rather than financial intermediaries.
That architecture matters for the broader DeFi regulation landscape, not just privacy tools.
The post Roman Storm’s Conviction Exposes the Limits of CLARITY Act Section 604 appeared first on Cryptonews.
Crypto World
Ethereum Price Prediction: The notorious jaredfromsubway.eth Drained, Vitalik Buterin was a Victim, and The Quest to Make ETH Saver and Faster
Ethereum price is holding boringly, while the network’s MEV story just escalated the prediction from abstract protocol debate to front-page embarrassment. The infamous jaredfromsubway.eth sandwich bot has reportedly been drained, the same wallet that Vitalik Buterin himself was sandwiched. It happened while Buterin was actively campaigning to kill this exact class of attack.
Blockchain data shows Buterin’s April 30 transaction, a swap of 26,544 XDB tokens, was sandwiched by jaredfromsubway.eth. The bot deployed $1.14 million in WETH across SushiSwap and Uniswap V2 to manipulate the XDB price.
Sometimes, Jared actually lost money after gas, because the bot is so automated that it attacks without a profitability check. The encrypted mempools and MEV reform aren’t just research priorities for ETH; they’re now an overdue infrastructure.
This exact narrative is shaping how we read ETH’s medium-term setup, and it’s worth tracking how Ethereum Foundation development momentum holds up under continued scrutiny.
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Ethereum Price Prediction: Hit $1,800 This Week as Consolidation Holds?
ETH is grinding through a consolidation band, not a breakout. Current data places the price around $1,730–$1,750, with the pivot point at $1,740. Intraday behavior has been flat for roughly eight hours, classic pre-move compression, though direction remains unclear.
Key levels to watch: support sits at $1,710, then $1,690 and $1,670 if that gives way. On the upside, resistance is stacked at $1,760, $1,770, and $1,800. Short-term data project a move toward $1,760 by late June, or just about 1.5% upside from current levels if the range holds.
Longer-term, our analysts put ETH at $3,300 in 2026 and $5,200 by 2030, while more conservative estimates cluster around $2,000–$2,500 through 2026. Those ranges imply meaningful upside, but also suggest ETH at current prices is essentially range-bound until a clear protocol or macro catalyst shifts the setup.
For context on how the tokenization thesis intersects with ETH’s demand picture, this companion analysis is worth reading alongside the current technical setup.
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LiquidChain Targets Early-Mover Upside as Ethereum Tests Key Levels
ETH at $1,730 with 1.5% projected near-term upside is a real number. For traders who’ve already sized into ETH and are looking at the infrastructure layer where the next leg of value potentially accrues, the fragmentation problem that jaredfromsubway.eth exploited is exactly what early-stage L3 projects are being built to solve.
LiquidChain ($LIQUID) is a Layer 3 infrastructure project positioning itself as a cross-chain liquidity layer, fusing Bitcoin, Ethereum, and Solana liquidity into a single execution environment.
POV: You read the about section on the LiquidChain site. — LiquidChain (@getliquidchain) June 22, 2026
https://t.co/vqvBcdSQYC pic.twitter.com/UKD6iXNK8i
The pitch is structural: a Unified Liquidity Layer with Single-Step Execution, Verifiable Settlement, and a Deploy-Once Architecture that lets developers access BTC, ETH, and SOL ecosystems without rebuilding for each chain.
The presale is live at $0.01472 per $LIQUID, with $850K raised to date. For traders tracking where DeFi friction gets priced out next, the cross-chain liquidity gap is the right thesis to be watching.
The post Ethereum Price Prediction: The notorious jaredfromsubway.eth Drained, Vitalik Buterin was a Victim, and The Quest to Make ETH Saver and Faster appeared first on Cryptonews.
Bitcoin is showing signs of stabilization after putting in a new 2026 low around $59,000 and then maintaining a weekly close above $63,000 for three straight weeks. Market observers say this behavior resembles earlier bottom-building phases, where BTC trades within a defined range for weeks before a more sustained trend develops.
That technical picture is being supported by derivatives and spot ETF flow data. Bitcoin futures open interest has dropped 19.5% from its June peak, funding rates have cooled to about 0.02% (from roughly 0.1%), and spot Bitcoin ETF outflows have slowed dramatically—falling to about $540 million over the past two weeks from $5.5 billion in the prior month.
Key takeaways
- Weekly closes above $63,000 have held for three weeks after a 2026 low near $59,000, suggesting range-building rather than immediate breakdown.
- Bitcoin futures open interest fell 19.5% from its early-June peak, indicating reduced leverage and position unwinds.
- Funding rates have cooled sharply, dropping to around 0.02% from about 0.1%, which points to less aggressive long positioning.
- Spot Bitcoin ETF selling pressure has eased, with outflows of roughly $540 million over two weeks compared with $5.5 billion earlier.
- Long-term holder supply metrics indicate maturation, while “sales pressure” has remained inactive for 1,256 consecutive days.
Weekly structure looks like earlier “bottom-building” behavior
According to the technical pattern described in the source analysis, Bitcoin’s recent weekly price action echoes setups that have appeared multiple times since 2023. The general theme in those periods: after a local bottom is put in place, BTC often trades near that zone for an extended stretch, and only later transitions into a clearer uptrend.
The article notes one notable exception in November 2025, when Bitcoin spent roughly 10 weeks moving sideways above $88,000 before falling back toward the $60,000 area. In contrast to that breakdown scenario, the current setup is characterized by repeated weekly closes above $63,000, which keeps price from testing—at least for now—the recent low near $59,000.
The comparison also draws on the late-2022 to early-2023 period. During that timeframe, the weekly relative strength index (RSI) moved through oversold conditions, then recovered. BTC later printed a lower low while RSI formed a higher low, creating a bullish divergence. The source frames that divergence as a turning point that preceded Bitcoin’s broader 2023 uptrend.
In the present case, the focus is again on the $63,000 region, where the same analyst argument is that a positive RSI divergence is forming. If this holds, the implication is not that the market has confirmed a full reversal yet, but that BTC may be building a base—trading between support and resistance rather than accelerating lower.
Derivatives cooling suggests leverage is being removed, not added
Beyond price charts, the derivatives data points to a market that is less crowded than it was in early June. Funding rates across exchanges have fallen to around 0.02% from roughly 0.1% at the start of June, a move that typically signals that the market is paying less to maintain leveraged long exposure.
The source attributes additional context to CryptoQuant analyst Woominkyuu, who noted that total Bitcoin open interest across exchanges peaked at $25.96 billion on June 1 and dropped to $20.89 billion by June 21. That represents a 19.5% decline in open interest, which the analysis says exceeded the 11.4% price drop over the same interval.
This relationship matters because open interest usually reflects how much leverage is embedded in outstanding derivatives positions. When price and open interest both decline, it often suggests that traders are closing positions or being forced out via liquidations—rather than new leveraged positions building up at current levels. In other words, the source argues that signs of excess leverage appear to be fading, and there is limited evidence (based on these metrics alone) of aggressive new short positioning at the current price range.
ETF flow data shows selling pressure has eased
Spot Bitcoin ETF flows provide a separate lens on demand and selling intensity. The source cites SoSoValue data showing about $5.5 billion leaving spot ETFs between May 15 and June 11. Importantly, it then narrows to the most recent period: over the past two weeks, outflows total roughly $540 million, indicating a sharp slowdown in sell pressure.
For market participants, this shift can be significant. ETF outflows are often interpreted as a proxy for broader spot selling, including systematic reallocations by traditional investors. A slowdown doesn’t automatically imply net buying, but it reduces the urgency of persistent spot absorption from the market’s side, which can help prices stabilize—especially when derivatives leverage is also cooling at the same time.
That combination—less leverage in futures alongside easing spot ETF outflows—fits the broader thesis that BTC is not only holding key support, but also losing some of the “forced selling” dynamics that can accelerate drawdowns.
On-chain signals point to supply maturation and absent capitulation
The source also brings in on-chain evidence from Bitcoin research analyst Axel Adler Jr. It states that long-term holder (LTH) realized supply has recently reached 12.42 million BTC, a level associated with supply maturation and coins moving into stronger hands. In practical terms for investors, LTH behavior is often watched as a proxy for whether earlier holders are distributing supply or whether they are holding through volatility.
At the same time, the source highlights that a Bitcoin sales pressure metric has stayed inactive for 1,256 consecutive days—described as the longest stretch on record. While on-chain metrics can never guarantee near-term price direction, the claim here is that extended inactivity in “sales pressure” aligns with the idea that Bitcoin may be stabilizing near a cycle low.
Taken together, the on-chain picture in the article is “mixed but constructive”: supply maturation appears to be progressing while forced selling conditions remain absent. When paired with the cooling derivatives landscape and reduced ETF outflows, the overall message is that BTC may be transitioning from a high-stress selling phase into something closer to consolidation.
Traders and long-term investors will likely watch whether Bitcoin can hold weekly support near $63,000 as futures positioning continues to unwind and spot ETF flows remain subdued. The next signals to monitor are whether open interest stops falling and whether ETF outflows stabilize into a net-neutral or net-positive pattern—changes that would help confirm that a base is actually forming rather than merely delaying the next move.
Crypto World
Crypto News, June 22: Jared from Subway Big Exploit and Its Legal Battle, UK Advances Stablecoin Regulations, Polymarket Accused of Fake Betting
Crypto markets woke up to pure chaos this Monday, and the Jared from Subway exploit, advancing UK stablecoin regulation, and Polymarket allegations are among the biggest crypto news stories dominating every feed. The hunter has become the hunted, regulators finally admitted they overreached, and one prediction market alleged for staging its own success.
Fresh developments are still landing this morning, and the biggest story rocking on-chain right now involves the infamous Jared from Subway MEV bot. After years of sandwiching traders and raking in millions, the bot got drained for $15 million over the weekend.
What’s interesting is that the attacker didn’t hack any smart contract code; it simply tricked the bot’s automated logic with fake tokens and liquidity pools that appeared to be profitable MEV opportunities. Once the approvals were granted, the funds in WETH, USDC, and USDT disappeared in a classic counter-MEV honeypot play.
Just this morning, Jared from Subway dropped an on-chain message offering a 50% white-hat bounty if the attacker returns 2,150 ETH within 48 hours. Otherwise, they threatened to pursue every legal and law enforcement remedy available.
Now, can Jared from Subway actually pursue this in court? Sandwich attacks sit in a legal gray zone because they exploit public mempool data. That’s why Jared from Subway was able to operate so openly for years. The extractor’s move, however, looks more like fraud, using deceptive contracts to trick the bot into granting approvals it would never have given.
The bounty-plus-legal-threat approach makes practical sense with permanent on-chain evidence, and if the attacker tries to cash out on centralized exchanges, KYC could eventually link identities.
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UK Advances Its Stablecoin Regulations
UK stablecoin rules have also gotten a glow-up this morning. The Bank of England published its long-awaited policy statement and draft Code of Practice for systemic stablecoins. They openly admitted earlier proposals were too strict and scrapped the £20,000 individual and £10 million business holding caps.
— Coin Bureau (@coinbureau) June 22, 2026
JUST NOW: UK SOFTENS ITS STABLECOIN RULES AFTER ADMITTING THEY WERE TOO STRICT
The Bank of England has released new draft rules, allowing regulated UK stablecoins to operate from 2027.
Changes include dropping its £20,000 individual holding cap, while keeping a £40 BILLION… pic.twitter.com/Rj1xviIiUp
As for now, the new rules require issuers to keep at least 30% of reserves in deposits at the Bank, with the rest in high-quality UK assets, plus a temporary £40 billion issuance cap per stablecoin. Regulated UK stablecoin products could now realistically launch as early as 2027 under joint oversight.
As of today, data shows that 8% of adults are holding crypto assets, or more than 4.5 million people, although awareness is pretty high at 91%. With the Bank of England’s new stablecoin rules removing strict holding caps and setting a clearer framework, the high level of public awareness could translate into stronger adoption and a gradual rise in ownership over the coming years.
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WSJ Accused A Big Polymarket Scandal: FIFA World Cup 2026 Extraction?
The drama didn’t stop there. A Polymarket alleged scandal broke late yesterday. The Wall Street Journal reviewed 1,105 videos from creators paid through a contractor. None of the big “winning bets” shown was actually real.
According to WSJ, these creators used dummy sites that looked like Polymarket to stage everything, depicting roughly $1.9 million in fake wagers. Some quietly added partner tags after journalists started asking questions. Polymarket has since said it will audit its promotional content.
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The Awaited Clarity ACT and Regulations Could Battle Jared From Subway Like Exploits
Moving away from the prediction market, reports indicate the US Senate is resuming negotiations on the Bitcoin and Crypto Clarity Act today. The bill has already cleared the Senate Banking Committee and now needs final polishing.
NEW: US SENATE TO RESUME #BITCOIN AND CRYPTO CLARITY ACT NEGOTIATIONS TODAY — The Bitcoin Historian (@pete_rizzo_) June 22, 2026
LIKE, IF YOU WANT THE UNITED STATES TO PASS THE THIS BILL IMMEDIATELY pic.twitter.com/dm6MtHLubI
Why is this big? Clearer rules around digital commodities versus securities would be a massive win for the entire industry. Every exploit and regulatory admission is just another data point proving the space is maturing. Projects are hardening their code, regulators are finally listening instead of overreacting, and lawmakers are moving from endless talk to actual legislation.
Despite today’s drama, we are expecting healthy growing pains. The same infrastructure that lets bad actors get rugged also allows white-hat recoveries and better rules to emerge faster than traditional finance could ever manage. With the Senate back at the table and clearer UK stablecoin pathways opening, the foundation for the next leg up is quietly being laid.
Bullish? Absolutely. The clowns provide entertainment, but the builders and institutions keep stacking.
Follow us here for more updates from the crypto market today.
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The post Crypto News, June 22: Jared from Subway Big Exploit and Its Legal Battle, UK Advances Stablecoin Regulations, Polymarket Accused of Fake Betting appeared first on Cryptonews.
Digital assets are attempting to decouple from a complex macro environment following a dramatic sequence of central bank shifts, headlined by the Bank of Japan’s historic push to 1.0% interest rates and newly appointed Federal Reserve Chair Kevin Warsh’s restructured FOMC policy framework.
Traders enter the week balancing an apparent drop in concerns over energy-driven inflation against a stark warning of tighter liquidity in the near-term.
While the official signing of the U.S.-Iran peace treaty provides relief by opening the Strait of Hormuz, it’s also stripped haven assets of their immediate momentum. Instead, capital is reorganizing around a heavy U.S. data cluster, with the market bracing for Thursday’s crucial Core PCE print to evaluate the trajectory of consumer inflation.
With the bitcoin price stabilizing above major psychological support at $64,000, the macro weight that pressed on digital assets for months may finally be dissipating.
What to Watch
(All times ET)
- Crypto
- June 22: The U.S. SEC and CFTC open their newly issued joint public comment window targeting data reporting frameworks. The 60-day window invites industry feedback to harmonize and streamline regulatory reporting across swap and digital-asset derivatives markets.
- Macro
- June 23, 4:00 a.m: Eurozone Flash Manufacturing and Services PMIs for June
- June 25, 8:30 a.m: U.S. Final Q1 GDP growth annualized est. 1.6% (Prev. 1.6%)
- June 25, 8:30 a.m: U.S. May Core PCE Price Index YoY est. 3.3% (Prev. 3.3%); MoM est. 0.24% (Prev. 0.2%)
- June 25, 8:30 a.m: U.S. Initial Jobless Claims for period ending June 20 est. 224K (Prev. 226K)
- Earnings
Token Events
- Governance Votes & Calls
- Lido DAO is voting on various network matters, including approving the Staking Router v3 architecture, migrating to upgraded community and curated staking modules to support the Ethereum Pectra hard fork, winding down simple DVT clusters, revoking specific multichain bridge endpoints, and appointing a new director for the Lido Labs Foundation. Voting ends June 22.
- Ssv.network DAO is voting on a proposal to conclude its Incentivized Mainnet Program for validator clusters paying network fees in SSV on June 30. The transition framework offers full rewards for July to any SSV cluster that migrates to an ETH-denominated cluster. Voting ends June 23.
- Goldfinch DAO is voting on a proposal to begin an orderly wind-down of Goldfinch Prime and transition the protocol into a “maintenance mode” focused solely on managing the recovery and collection of remaining legacy borrower pool payments. Voting ends June 23.
- GnosisDAO is voting on a “treasury redemption” proposal that allows GNO holders to voluntarily exchange their tokens for a pro-rata distribution of the DAO’s liquid assets at net asset value (NAV), along with a discounted share of capital called by GnosisVC. Voting ends June 26.
- Unlocks
- June 22: MegaETH Bridge (MEGA) to unlock 2.5% of its circulating supply worth $13.71 million.
June 23: Toncoin (TON) to unlock 0.72% of its circulating supply worth $59.63 million. - June 24: Humanity (H) to unlock 2.93% of its circulating supply worth $52.67 million.
- June 22: MegaETH Bridge (MEGA) to unlock 2.5% of its circulating supply worth $13.71 million.
- Token launches
Conferences
Crypto World
Bank of England backs down on strict stablecoin holding limits, sets $50 billion issuance cap
The Bank of England officially reversed its controversial proposal to limit how much stablecoin individuals and consumers could hold, bowing to pressure from a U.K. House of Lords committee and the crypto industry.
The central bank said it will abandon its plans to impose a £20,000 ($27,000) holding limit on individuals and a £10 million limit on corporations, in a statement on Monday, Instead, the BOE is pivoting to a macro-level “temporary issuance guardrail,” capping the total circulation of any single systemic stablecoin at £40 billion ($50.6 billion).
The central bank also lowered to 30% the amount of backing assets in central deposits yielding no interest they require issuers of stablecoins, digital currency pegged to fiat, to have. This allows for stablecoin firms permitting companies to allocate up to 70% of their reserves into yield-generating, short-term U.K. government debt (T-bills) with maturities under six months, according to the statement.
While issuers can harvest yield from these T-bills, the BoE is strictly banning companies from paying interest or dividends directly to users for simply holding the stablecoin. However, the bank is explicitly permitting activity-based rewards, such as cash-back tokens or loyalty points linked directly to payment transactions via Web3 apps.
Bank of America has projected three Federal Reserve interest-rate hikes this year, adding to concerns that tighter monetary policy could create fresh pressure for Bitcoin and other risk assets.
Summary
- Bank of America now expects three Fed rate hikes in September, October, and December, citing a more hawkish policy outlook.
- Deutsche Bank and BNP Paribas have also raised their rate forecasts, adding to expectations of tighter monetary policy.
- Traders are watching the upcoming PCE inflation report as Bitcoin holds near $64,000-$65,000 amid growing rate-hike concerns.
According to a Reuters report, Bank of America Global Research now expects the Federal Reserve to raise rates by 25 basis points at its September, October, and December meetings, bringing the policy rate to a range of 4.25%-4.50% by year-end.
The forecast represents a sharp departure from the bank’s earlier expectation that rates would remain unchanged throughout the year. The revised outlook arrives as investors prepare for the release of the U.S. Personal Consumption Expenditures inflation report, the Fed’s preferred gauge of inflation.
Economists surveyed ahead of the June 24 release expect headline PCE inflation to rise 0.5% month-over-month in May after a 0.4% increase in April. Annual inflation is expected to accelerate to 4.1% from 3.8%, while core PCE is forecast to increase 0.3% on a monthly basis and 3.4% from a year earlier.
A stronger-than-expected reading could reinforce expectations that policymakers will keep borrowing costs elevated for longer or even tighten policy further.
Wall Street forecasts point to a more hawkish Fed
In explaining its revised outlook, Bank of America said the Federal Reserve appears more focused on inflation risks than previously anticipated.
The bank wrote that the Fed’s June economic projections and comments from Chair Kevin Warsh suggested policymakers were operating with a more hawkish reaction function than earlier estimates indicated.
Another large institution has moved in a similar direction. Per the Reuters report, Deutsche Bank has also adopted a more hawkish outlook, forecasting two quarter-point rate hikes this year in September and December.
The bank additionally outlined a scenario in which policymakers could consider a July increase, while noting that easing energy prices and improving inflation expectations may reduce the need for immediate action.
A separate forecast from BNP Paribas points to additional tightening as well. As previously reported by crypto.news, the French bank expects three rate hikes beginning in December after abandoning its prior assumption that policy would remain unchanged.
BNP Paribas linked its outlook to resilient labor-market conditions, stronger-than-expected employment data, and rising inflation pressures that it partly associates with the ongoing U.S.-Iran conflict. The bank also projected the unemployment rate could fall toward 4% by year-end, potentially giving policymakers more room to concentrate on inflation.
Bitcoin traders watch inflation and rate signals
Recent pricing in prediction and futures markets shows investors remain divided on the Fed’s next move.
Data from Kalshi indicates a 22% probability of a rate increase in July, while a pause remains the most likely outcome. Separately, CME FedWatch data shows traders assigning a 51.7% probability to a quarter-point hike at the September meeting.
Market-based expectations also point toward tighter policy. According to LSEG pricing data, traders have priced in approximately 41.2 basis points of additional tightening over the course of the year.
Higher interest rates typically reduce liquidity available for speculative investments while increasing the appeal of yield-bearing assets such as U.S. Treasuries. Because of that relationship, digital assets often face pressure when investors anticipate tighter monetary conditions.
Bitcoin (BTC) has recently traded within the $64,000-$65,000 range despite improving geopolitical sentiment following developments related to the U.S.-Iran situation. With inflation data due this week and major banks raising their forecasts for future rate increases, traders are closely watching whether incoming economic data strengthens the case for additional Fed tightening.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Ripple’s (XRP) selling pressure on Binance appears to be easing as large holders reduce transfers to the exchange, according to a new analysis from CryptoQuant.
Binance remains one of the largest liquidity hubs for XRP, which makes whale transfers to the exchange an important indicator of potential selling activity. Large deposits by major investors can increase short-term supply, but current data shows both Whale Flow and Whale Transactions standing at 417, which means that large holders are not actively moving significant amounts of XRP to Binance.
Recovery Still On Hold
CryptoQuant said XRP is currently trading at $1.12, below the McGinley Dynamic indicator, which lies between $1.15 and $1.16. The McGinley Dynamic is an adaptive moving average that responds more quickly to changing market conditions than traditional moving averages and is widely used to identify dynamic support and resistance levels. Prices trading below the indicator are generally considered a sign of weak momentum.
Several spikes in whale transfers to Binance were recorded in early June. During the same period, XRP fell sharply from the $1.30-$1.50 range and has yet to regain the McGinley Dynamic level. However, the decline in whale inflows in recent weeks suggests that selling pressure has moderated.
Despite the improvement in whale activity, CryptoQuant said the market outlook remains mixed. The McGinley Dynamic continues to point to a bearish short-term trend, while Whale Flow data remains neutral to positive. The firm explained that XRP needs to reclaim the McGinley Dynamic to support a stronger recovery.
If the crypto asset remains below the indicator and large inflows to Binance increase again, another decline could follow. But downside risks may remain limited as long as the Whale Transaction support zone near $1.08 continues to hold.
Bold Targets
Several market analysts remain divided on XRP’s next move. Some traders believe a break above the $1.18-$1.30 range could trigger a rally, while a move below $1.08 may invalidate the bullish setup.
More optimistic forecasts have projected targets as high as $8 or even $17, although such gains would require a massive increase in the crypto asset’s market value at a time when the network itself appears to be struggling due to low user engagement.
Institutional demand for XRP has remained relatively strong despite weakness across the broader crypto ETF market. Over the past week, XRP-focused exchange-traded funds attracted more than $10.6 million in inflows. On the other hand, US-based spot Bitcoin ETFs recorded outflows of $227 million, while Ethereum funds lost more than $10 million during the same period.
The post XRP’s Biggest Warning Sign Is Still Flashing Despite Easing Whale Activity appeared first on CryptoPotato.
Crypto-backed political groups have spent at least $7 million on key Democratic primary races as lawmakers continue negotiating the CLARITY Act ahead of an increasingly crowded congressional calendar.
Summary
- Fairshake affiliates have spent about $7 million backing crypto-friendly candidates ahead of key Democratic primaries.
- Maryland candidate Adrian Boafo and New York Representative Ritchie Torres have emerged among the largest recipients of crypto PAC support.
- Meanwhile, lawmakers continue negotiating the CLARITY Act as industry groups push for progress before upcoming congressional recess deadlines.
According to reports on recent campaign spending, crypto political action committees have increased their activity ahead of several Democratic primaries while lawmakers continue negotiating the CLARITY Act in Washington.
Among the largest beneficiaries is Maryland State Delegate Adrian Boafo, who is seeking to succeed retiring Congressman Steny Hoyer in Maryland’s 5th Congressional District. Protect Progress, an affiliate of Fairshake, has spent roughly $5.5 million supporting Boafo’s campaign, making him one of the most heavily funded crypto-backed candidates in the current election cycle.
Facing more than 20 Democratic opponents, Boafo currently leads prediction market rankings. His campaign has also secured endorsements from Hoyer, Maryland Governor Wes Moore, and Senator Angela Alsobrooks. Alsobrooks has been involved in discussions surrounding federal digital asset legislation, including both the GENIUS Act and the CLARITY Act.
Commenting on his policy priorities, Boafo has also positioned himself as a supporter of digital asset and blockchain policy initiatives.
“I’m proud to be a strong advocate for policies that create new economic opportunities for Marylanders in the 5th Congressional District, and digital assets are no exception.”
Crypto PACs increase pressure through campaign spending
Elsewhere on the East Coast, Protect Progress has directed approximately $1.5 million toward the reelection campaign of Representative Ritchie Torres in New York’s 15th Congressional District. Torres has long supported cryptocurrency policy initiatives and helped establish the Congressional Crypto Caucus.
Additional backing has come from Fellowship PAC, which has reportedly spent around $300,000 on advertising supporting Torres ahead of Tuesday’s Democratic primary.
The latest expenditures follow Fairshake’s largest spending effort of the election season. Earlier in the cycle, the crypto-focused political network committed roughly $12 million to Alabama’s Republican Senate primary runoff in support of Representative Barry Moore.
Taken together, the campaigns demonstrate how crypto-funded political organizations are continuing to deploy significant capital in congressional races while federal lawmakers debate the future structure of digital asset regulation.
CLARITY negotiations continue as lawmakers seek support
At the same time, attention in Washington remains fixed on the CLARITY Act, a proposal designed to establish a regulatory framework for digital assets in the U.S.
According to Crypto In America, lawmakers are still working through issues related to committee language, ethics provisions, and safeguards against illicit finance. Several Senate meetings have been scheduled as negotiations continue.
White House crypto adviser Patrick Witt and Senator Bill Hagerty have both expressed optimism that progress can be made before lawmakers leave for the July 4 recess. Industry organizations are also increasing their engagement with policymakers.
This week, the Digital Chamber has organized meetings between member companies and lawmakers in an effort to build support for the legislation. Speaking to Crypto In America, Digital Chamber CEO Cody Carbone said urgency is growing as available legislative time continues to shrink.
Separate comments from Senate Agriculture Committee Chairman John Boozman suggest that educating lawmakers remains a significant hurdle. As previously reported by crypto.news, Boozman said after a June 18 Senate meeting that many members still do not fully understand the legislation, complicating efforts to build support across the chamber.
Because much of the proposal falls under the Agriculture Committee’s jurisdiction, the panel has become central to ongoing negotiations.
Senate offices continue to work through unresolved sections of the bill as congressional leaders face pressure to settle outstanding issues before lawmakers depart Washington for the August recess.
Bitcoin News: Marathon Digital Holdings disclosed $869,160 in vehicle armoring expenses for its CEO and CFO in its latest DEF14A proxy filing, $430,780 for CEO Fred Thiel and $438,380 for CFO Salman Khan, bringing Thiel’s total personal security bill to $4.3 million and Khan’s to $3.9 million for the year.
That is not a rounding error in an executive comp table. It is a formal corporate acknowledgment that holding large, publicly disclosed Bitcoin positions now requires the same physical threat mitigation as moving cash through a war zone.
MARA’s disclosure sits at the visible tip of a broader capital allocation shift among Bitcoin OGs and crypto whales who have spent the last two years converting paper gains into hardened physical infrastructure. Armored vehicles are the entry point.
The full picture extends to underground Bitcoin bunkers, off-grid sovereign compounds, what the community has long called Bitcoin citadels, second passports, and jurisdictional diversification plays that would have looked paranoid in 2020 and look rational in 2025.
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Bitcoin News: Cypherpunk Roots, The Ideology That Made Doomsday Prepping Respectable
The cypherpunk movement never treated financial privacy and physical self-sovereignty as separate problems.
The same mailing list culture that seeded Bitcoin’s intellectual foundations in the 1990s was openly skeptical of state institutions, central banking, and the durability of fiat systems. Satoshi’s whitepaper dropped in October 2008, weeks after Lehman collapsed, and the timing was not coincidental.
The earliest Bitcointalk forum threads mixed price speculation with explicit discussions of fiat collapse scenarios, jurisdictional escape, and the practical logistics of holding wealth outside the banking system.
That ideological substrate never went away. It just got better funded. Balaji Srinivasan, the former Coinbase CTO and one of the most prominent Bitcoin preppers in the ecosystem, formalized the framework in The Network State (2022), framing Bitcoin as cloud money for exit and advocating for physical startup cities and parallel societies as hedges against state failure.
The network state concept is essentially cypherpunk political theory with a real estate budget attached.
The OG survivalist impulse also produced the citadel meme, a recurring Bitcointalk fantasy from the early 2010s imagining walled compounds where early holders retreat once fiat collapses and Bitcoin becomes the only functioning monetary network.
What read as fringe forum fiction then is now showing up in corporate proxy filings and luxury bunker waitlists. The narrative event happened years ago. The execution events are happening now.
From Armored SUVs to Sovereign Compounds: The Full Spending Picture
MARA’s $869,160 vehicle armoring spend is structurally notable precisely because it appears in a DEF14A, a document with legal standing, audited figures, and shareholder visibility.
The board’s justification was explicit: Bitcoin and Ethereum’s instant, anonymous transfer capabilities mean coerced credential handover can drain holdings in seconds with no recovery path, a threat profile that differs materially from executives at most traditional public companies. That logic applies equally to any individual holding a significant self-custodied BTC position.
Coinbase provides the comparison point at the higher end. The exchange paid CEO Brian Armstrong $7.6 million in personal-security-related compensation last year, covering home security, executive protection, family protection, and secure transportation.
Between MARA and Coinbase alone, two public crypto companies have disclosed over $16 million in executive physical security spending in a single reporting cycle. That is not a coincidence, it is an industry-wide risk reassessment made visible through disclosure requirements.
Below the public company disclosure layer, the private spending is harder to quantify but directionally consistent. The doomsday prepping market for ultra-high-net-worth buyers, anchored by operators like Survival Condo, Oppidum, and Vivos, has marketed fortified underground residences ranging from individual suites to full compounds with pools, cinemas, and staff quarters.
Vivos founder Robert Vicino has described demand being driven by fears of geopolitical conflict, domestic instability, EMP disruption, and nuclear scenarios.
Armored vehicles and underground Bitcoin bunkers are frequently sold as a single security package by these operators; the tactical vehicle market, which CBC once described as looking like variations of the Batmobile, is explicitly paired with subterranean real estate.
For Bitcoin OGs sitting on positions acquired at sub-$1,000 cost basis, spending 1–3% of their stack on physical resilience infrastructure passes a straightforward expected-value calculation. If nothing bad happens, they own a well-equipped rural property.
If the scenarios they believed in when they bought Bitcoin actually materialize, that infrastructure cost looks cheap. The Forbes Digital Assets framing from February 2026 captures the logic precisely: gold is for conflict, Bitcoin is for escape, and armored vehicles are for the transition between the two states.
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The post Bitcoin OGs Are Converting Crypto Gains Into Armored Vehicles and Bunkers appeared first on Cryptonews.
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