After a strong rally in the US dollar at the end of last week, the currency has moved into a consolidation phase against major counterparts. Investors remain cautious ahead of the release of the ADP employment report for the US private sector, which is expected to serve as a key indicator before Friday’s official Nonfarm Payrolls data. Additional influence on the dollar’s dynamics today may come from the manufacturing PMI and ISM indices, as well as a speech by Federal Reserve Board member Christopher Waller.

Market participants continue to assess the outlook for future Federal Reserve policy. Despite no new rate decisions, Fed officials maintain a hawkish tone, stressing the need to keep interest rates elevated until there are clear and sustained signs of inflation slowing. As a result, demand for the dollar remains strong; however, ahead of key data releases, investors are partially taking profits on long USD positions, contributing to a consolidation phase in the market.

USD/JPY

Unlike most dollar pairs, USD/JPY is not showing clear consolidation and continues its upward trend. After reaching a new two-year high, the price has strengthened to 162.60, with no technical signals yet indicating the start of a correction.

Technical analysis of USD/JPY suggests potential further gains towards 163.00–164.00. A corrective pullback could begin only after a decisive break below 161.60.

Key events for USD/JPY:

• Today at 15:15 (GMT+3): ADP US Nonfarm Employment Change;
• Today at 16:00 (GMT+3): Fed Governor Waller speaks;
• Today at 17:00 (GMT+3): ISM Manufacturing PMI (US).

USD/CAD

USD/CAD buyers failed to break resistance at 1.4250. After an unsuccessful attempt to hold above this level, buying pressure eased and the pair moved back below 1.4200. The nearest key support is located at 1.4160. If the pair settles below this level in upcoming sessions, a deeper corrective decline may begin. At the same time, a firm break above 1.4250 could trigger a renewed upward move.

Key events for USD/CAD:

• Today at 16:00 (GMT+3): Bank of Canada Governor Macklem speaks;
• Today at 17:30 (GMT+3): US crude oil inventories;
• Today at 18:30 (GMT+3): Atlanta Fed GDPNow indicator.

Overall, ahead of the ADP report, the dollar is likely to maintain mixed price action near recent highs. If labour market data confirms resilience in the US economy, expectations of prolonged Fed tightening may strengthen, supporting further USD gains. Conversely, weaker data could trigger profit-taking and lead to a corrective move ahead of Friday’s official Nonfarm Payrolls release.

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Former Goliath Ventures CEO Christopher Alexander Delgado pleaded guilty to his role in a crypto investment scheme that prosecutors said raised at least $400 million from investors.

On Tuesday, the US Department of Justice (DOJ) said Goliath promised investors monthly returns generated through digital asset liquidity pools between January 2023 and January 2026.

Prosecutors said the funds were instead used to pay earlier investors, process withdrawals, fund luxury spending and finance business events. 

Delgado pleaded guilty to conspiracy to commit wire fraud, as well as wire fraud and money laundering. Under the plea agreement, he admitted the scheme caused at least $250 million in investor losses and agreed to forfeit an extensive portfolio of luxury assets purchased with investor funds.

According to the DOJ, Delgado agreed to surrender eight properties, 11 vehicles, 30 watches, over 50 luxury bags and wallets, at least 29 pieces of jewelry and bank accounts and crypto wallets. He faces up to 20 years in prison for each fraud count and up to 10 years for money laundering.

Delgado’s sentencing is scheduled for Oct. 8. 

Excerpt of the plea agreement. Source: DOJ

Guilty plea follows Delgado’s public apology

The plea follows Delgado’s television appearance and public apology to investors. On May 12, Delgado appeared in an interview with Florida television station WFTV. At the time, he said investors had placed their trust in him and that he had failed them, saying he had voluntarily returned to the US and was cooperating with authorities.

Delgado said only about $160,000 remained in the company’s bank account at the time of his arrest and said that other former colleagues were involved in the operation. 

Related: Florida man pleads guilty for promoting $1.8B ‘HyperFund’ crypto fraud

The case also drew scrutiny of the financial institutions that processed Goliath funds. On March 12, investors filed a proposed class-action lawsuit against JPMorgan Chase, alleging that the bank ignored suspicious transactions and allowed Goliath to collect investor funds through its accounts. 

The lawsuit claimed that about $253 million passed through a JPMorgan account, including about $123 million later transferred to Goliath’s wallets at Coinbase. A separate federal complaint also identified flows through Bank of America and directly to Coinbase wallets. 

Magazine: Bitcoin slides to $58K, XRP hits $1 but onchain data promising: Market Moves

U.S. crypto industry groups have already poured significant money into the 2026 election cycle through super PACs and related political committees, according to a report from Public Citizen released Tuesday. The advocacy nonprofit estimates that crypto-aligned corporate giving represents roughly 37% of all corporate contributions so far this cycle, amounting to about $189 million with more than four months remaining before the November election.

Public Citizen also points to the two dominant forces behind that spending: Fairshake, which it says has spent more than $82 million, and the MAGA Inc. Super PAC, which the group says has spent more than $56 million and is largely backed by Crypto.com.

Key takeaways

• Public Citizen estimates crypto-linked corporate contributions total about $189 million in the 2026 election cycle, representing around 37% of corporate giving so far.
• Fairshake and affiliated committees account for more than $82 million in spending, while MAGA Inc. Super PAC has spent more than $56 million.
• The watchdog says these groups are designed to operate across both parties’ primaries and influence general-election outcomes.
• Colorado primaries may be shaped by pro-crypto independent expenditures, including reports of spending aimed at specific Democratic candidates.
• Public Citizen says combined super PAC spending in 2026 has already surpassed 2024 levels, when companies contributed $170 million to support “pro-crypto” candidates.

Public Citizen traces crypto-linked election spending to super PACs

Public Citizen’s report frames the recent activity as the latest chapter in what it describes as a repeatable “playbook” for political influence. In the watchdog’s account, crypto-aligned super PACs are structured to participate in both Democratic and Republican primaries, then back or oppose candidates in the general election regardless of party affiliation.

In a statement included with the report, Public Citizen said that super PACs typically prioritize the business interests of their backers over candidates from either major political party. The organization characterized the current approach as a continuation of tactics seen previously in the industry’s political investment strategy.

Fairshake’s war chest and the role of crypto-backed committees

Public Citizen links Fairshake and its affiliates—Defend American Jobs and Protect Progress—to backers including Coinbase and Ripple. It also notes that Fairshake reported a $193 million war chest as of January.

The report further indicates that new committees aligned with crypto interests have been formed since 2024. One example Public Citizen highlights is the Fellowship PAC, backed by Cantor Fitzgerald.

Taken together, Public Citizen says the combined spending by these political committees has already exceeded what it describes as the overall level from 2024. In that earlier cycle, the organization stated that companies contributed $170 million toward electing candidates they considered “pro-crypto.”

Cointelegraph attempted to contact a Fairshake spokesperson for comment but did not receive an immediate response.

Colorado primaries highlight fresh independent spending

With Colorado voters headed to the polls in Republican and Democratic primaries, Public Citizen’s report draws attention to the possibility that crypto PAC spending could influence outcomes in state races—particularly in Colorado’s 8th congressional district.

Public Citizen points to reports that the You Can Push Back Super PAC, backed by Ripple Labs co-founder Chris Larsen, spent $1 million on media to support Democrat Manny Rutinel. The report also references a prior large investment by the same committee: $3.3 million aimed at Democrat Alex Bores in New York’s 12th Congressional District, where Bores reportedly lost his primary to Micah Lasher.

According to the coverage cited in the report, Lasher had criticized Larsen’s involvement in that contest, suggesting that crypto-linked financial backing is becoming a more visible issue within candidate messaging—at least in some competitive races.

What to watch as the cycle moves closer to November

As 2026 progresses, Public Citizen’s figures raise a practical question for voters and campaign strategists alike: how much of the remaining election influence will be driven by the same super PAC networks, and whether the industry’s cross-party primary strategy translates into measurable general-election advantages. The next step for readers will be tracking spending updates from major committees and watching how candidates address—or attempt to neutralize—crypto-linked backing in the final stretch toward November.

Binance said affected EU users can still access key account options as MiCA-related service changes take effect across the bloc.

Binance said on X that it remained committed to supporting affected users as MiCA-related changes started in the European Union. The exchange said user assets remain safe and are held on a 1:1 basis.

The company said affected users will continue to have access to the options already communicated to them. Those options include transfers and withdrawals where applicable. Binance added that it is contacting affected users directly with next steps.

Binance CEO Teng says withdrawals remain available

“User assets remain safe and secure,” Binance CEO Richard Teng said in a post on X. He said affected users will continue to have access to the options already shared with them after July 1, including withdrawals.

“Our focus remains on giving users clarity, continuity, and confidence as we work through this period,” Teng said. 

He also told users with account-specific questions to contact Binance Customer Support through official channels.

The statements came as MiCA’s transition period ended on July 1. Under the EU framework, crypto asset service providers must hold authorization to keep serving users across the bloc.

MiCA deadline reshapes exchange access

Binance told affected EU users that it could stop offering some services after missing the full MiCA licensing deadline. The exchange said user funds would remain safe while it issued country-specific service and withdrawal notices.

As reported earlier by crypto.news, the July 1 change was described as a suspension, not a permanent exit. The report said Binance was expected to halt new orders, deposits, sign-ups and staking products for EU residents while keeping withdrawals available.

The exchange has said it remains engaged with regulators. Binance had vowed to stay in Europe despite a licensing setback and was looking at other possible paths to authorization after its Greek application process did not deliver approval before the deadline.

Licensed rivals chase affected users

The MiCA change has opened a new competitive period in Europe. As reported by crypto.news, Coinbase and OKX launched campaigns targeting Binance users after the exchange began suspending some services across the region.

Those campaigns came as licensed firms tried to gain users seeking MiCA-compliant platforms. Coinbase secured a Luxembourg MiCA hub, while OKX and other approved exchanges have moved to grow their European presence.

MiCA’s transition ending on July 1 means users need to check whether their platform holds the right authorization. The rule change affects exchanges, custodians and other crypto service providers that want to serve customers in the European Economic Area.

Binance’s latest message seeks to reduce uncertainty for users already affected by the transition. The company said it is working with regulators and will communicate directly with users about available account options.

Taiwan has taken a major step toward formalizing the country’s crypto market, with lawmakers passing a new law that sets out a regulatory framework for virtual assets and stablecoins. The package establishes a licensing regime for virtual asset service providers (VASPs) and introduces specific approval, reserve, and audit requirements for stablecoin issuers.

According to Taiwan’s Financial Supervisory Commission (FSC), the Legislative Yuan passed the bill on Tuesday, requiring VASPs to obtain regulatory approval before operating. The FSC said the move is designed to strengthen protections for traders’ rights while helping Taiwan integrate with international financial markets.

Key takeaways

• Taiwan’s new law creates a licensing regime for virtual asset service providers, overseen by the FSC.
• Stablecoins issued in Taiwan must receive approval from both the central bank and the FSC, with reserve and audit requirements.
• The framework covers multiple VASP categories, including exchanges, trading platforms, custodians, and lenders.
• The law criminalizes crypto-related fraud and price manipulation, with penalties including prison time and substantial fines.
• Implementation timing depends on publication by the executive branch, with a post-implementation license application window for firms that already completed AML registration.

Licensing and oversight for VASPs

The FSC said all VASPs in Taiwan must be authorized by the regulator before they can legally operate. The law is described as Taiwan’s first comprehensive regime specifically addressing crypto and stablecoins, aligning the jurisdiction with other major Asian markets in the region—such as Japan, Singapore, and Hong Kong—that have already moved ahead with crypto legislation to encourage industry participation.

Under the rules, Taiwan defines seven types of VASPs, including exchanges and trading platforms, as well as custodians and lenders. Regardless of category, the law requires regulated firms to maintain robust internal controls and undergo audits. It also sets expectations around cybersecurity systems, listing and delisting standards for crypto assets, customer-asset segregation, and financial reporting.

Stablecoin approval, reserves, and audits

Stablecoins receive their own regulatory structure within the bill. The law states that any stablecoin issued in Taiwan must obtain approval from both the central bank and the FSC. Issuers are required to maintain sufficient reserves, with those reserves held with a trustee.

In addition, stablecoin issuers must undergo regular audits. By combining multi-agency approval with reserve custody and recurring review, the framework aims to reduce the risk of under-collateralization and improve transparency for token holders.

The FSC argued that stablecoin issuance can help Taiwan connect more effectively to international markets and strengthen its position in the global crypto sector.

Enforcement: fraud and unlicensed operation carry prison and fines

The bill also lays out enforcement measures aimed at preventing misconduct in the crypto sector. The law prohibits crypto-based fraud and price manipulation, and it sets penalties that range from three to 10 years in prison, along with fines estimated at roughly 10 million New Taiwan dollars (about $300,000) to 200 million New Taiwan dollars (about $6.3 million).

For individuals or entities that operate a VASP or issue a stablecoin without the required license, the law increases the stakes: CNA reported that unauthorized activity can result in up to seven years in prison and fines of up to 100 million New Taiwan dollars (about $3.1 million).

These figures signal that Taiwan intends to treat compliance as a central condition for market access, rather than a purely administrative requirement.

What happens next: publication, timing, and a follow-on derivatives proposal

While the legislative step is complete, the law’s timeline is not yet fully operational. The implementation date remains undecided, and the framework will only take effect after it is published by the government’s executive branch.

In the meantime, the FSC said VASPs that have already completed anti-money laundering (AML) registration before implementation can apply for a license within 12 months after the bill becomes effective. Institutions providing related services under the FSC also fall within the same general post-implementation window, according to the regulator’s comments.

Separately, CNA reported that lawmakers passed a resolution asking the FSC to propose a plan within a year detailing how the crypto industry could offer derivative crypto commodity services. The resolution frames the effort as a way to provide diversified investment options while improving the overall health of the sector—but it does not change the fact that the new law’s immediate focus is licensing, stablecoin rules, and market conduct.

Regional implications for traders and industry participants

For market participants, the practical effect of the bill will hinge on the licensing process that follows implementation—especially for platforms handling customer assets, custody, or market operations. The stablecoin provisions are likely to be particularly consequential for issuers and reserve holders, since the framework explicitly requires approvals from both Taiwan’s central bank and the FSC, along with trustee-held reserves and regular audits.

Readers should watch next for the executive-branch publication date and any subsequent guidance from the FSC on how it will evaluate VASPs across the seven defined categories, including cybersecurity expectations, customer-asset segregation practices, and listing/delisting rules. Until those details land, firms can prepare for compliance work, but the final operational path will depend on how regulators translate the law into enforceable procedures.

Sources: FSC statement (as reported in the provided material); CNA report on penalties and timelines; Cointelegraph link referenced for context.

Bitcoin BTC$58,666.62 fell by 20% to under $60,000 in June, its worst monthly performance since the same month in 2022. If that number alone isn’t enough to worry bulls, the price chart, especially the monthly candlestick, could be.

The June candlestick, a charting tool summarizing entire month’s price action into a single visual, looks like a solid red brick with virtually no wicks, a clear sign of complete and “uninterrupted” bear dominance throughout the month.

For anyone tracking price charts, that’s about as bearish a signal as can be and a warning that more losses could happen in the weeks ahead.

A candlestick captures four data points for any given period: where price opened, where it closed, how high it got, and how low it fell.

The candle body shows the open-to-close move. The wicks – the thin lines extending above and below the body, representing high and low – show how far price traveled in both directions during that period.

Big wicks mean buyers and sellers were fighting hard. A long upper wick means sellers beat back a rally while a long lower wick means buyers defended a selloff. Either way, wicks are evidence of two-sided activity.

The June candle

The June candle has none of that.