Bitcoin’s (BTC) valuation metrics continue to highlight a deep discount even as markets brace for a potentially hawkish Federal Reserve under new chair Kevin Warsh. Analysis from Bitwise Investments said BTC remains in a “deep value” zone after a valuation metric fell below 1.0, a level associated with long-term accumulation periods.

However, investor participation remains subdued, with CryptoQuant’s realized cap growth metric remaining in a bear phase since late October 2025. This points to a steady slowdown in fresh capital entering the BTC network.

At the same time, a growing list of key companies going public raises increased competition for liquidity across the investment market, so the focus shifts to whether BTC attracts new capital amid tighter liquidity conditions.

Deep-value or liquidity squeeze, which is most important?

The Federal Reserve kept interest rates unchanged at 3.5%-3.75% on Wednesday, a decision that largely matched Bitwise’s market expectations and avoided the hawkish surprise the market had feared. 

While BTC dropped back below $64,000 on Thursday following the Fed’s interest rate announcement, Bitwise described its price as a “deep value” opportunity based on its Mayer Multiple, which compares price to its 200-day moving average. The firm noted the metric had remained below 1.0, a level that has historically aligned with accumulation periods. 

Bitcoin’s Mayer multiple vs Nvidia. Source: Bitwise

Bitwise argued that Bitcoin’s valuation stood out compared with AI-linked equities like NVIDIA, which were trading at significant premiums to long-term trend levels. The firm also flagged a growing pipeline of major capital raises, including potential offerings tied to SpaceX, Anthropic, and OpenAI. Collectively, those deals could attract more than $200 billion in investor demand.

Large listings often coincide with strong investor appetite. They also absorb liquidity that might otherwise flow into equities and cryptocurrencies. Bitwise said that elevated rates continue to limit the availability of capital for speculative assets despite Bitcoin’s attractive valuation profile.

The subdued participation is also reflected in Bitcoin’s capital flow trends. CryptoQuant’s realized cap growth metric has remained in a bear-phase regime since Oct. 30, 2025, even as Bitcoin’s valuation indicators moved into historically attractive territory.

Bitcoin’s realized cap growth analysis. Source: CryptoQuant

Since entering the bear phase, the metric’s seven-day and 59-day moving averages have declined to 13.9 and 19.1 on June 17 from roughly 70 in Q4 2025. The slowdown suggests the pace of new capital entering the Bitcoin network has continued to weaken, highlighting investor caution.

Bitcoin researcher Axel Adler Jr. pointed to a separate concern following the Fed’s decision. While rates remained unchanged, the updated dot plot showed nine officials expecting at least one rate hike this year and six projecting two or more.

Bitcoin reacted negatively to the update, with selling volume expanded during the decline on Wednesday, marking the heaviest trading activity at the point of rejection at $66,200. For gold, an initial rebound above $4,300 faded, leaving the metal trading near $4,244 on Thursday.

The reaction aligns with Adler’s view that markets are pricing in a higher-for-longer rate path rather than a near-term policy easing. 

Related: Capital B shareholders approve up to $120B in financing capacity for Bitcoin strategy

BTC traders split on the next move

Market data shows that BTC traders are interpreting the Fed’s outcome in different directions.

Market commentator Crypto Rover highlighted a newly opened $38.5 million Bitcoin short position using 30x leverage shortly after the FOMC meeting. The trader was reportedly sitting on roughly $750,000 in unrealized profit as Bitcoin moved lower.

Meanwhile, Bitcoin investor Jelle viewed the pullback below $64,000 from the weekly high of $67,255 as a routine retest of support. The analyst identified the $64,000 threshold as a key price point for buyers, adding, 

“Hold here, and we likely see extended relief into $70k in the coming weeks. Big day ahead.”

BTC/USD, one-day analysis by Jelle. Source: X

Related: Bitcoin capitulation ‘twice as weak’ after spot liquidity turns supportive: Glassnode

The U.S. Commodity Futures Trading Commission (CFTC) has concluded its remaining enforcement matter against Alex Mashinsky, the founder of failed crypto lender Celsius Network, permanently banning him from trading in markets overseen by the CFTC. The regulator said the action was resolved through a court consent order.

According to the CFTC, the settlement also prevents Mashinsky from ever registering with the agency, bringing to a close a case the CFTC first filed in 2023. The development is significant for compliance stakeholders because it further delineates enforcement risk for individuals associated with crypto lending platforms that marketed financial returns and interacted with digital-asset markets.

Key takeaways

• The CFTC permanently bars Alex Mashinsky from trading CFTC-regulated commodities, futures, and derivatives.
• A consent order also prohibits Mashinsky from ever registering with the CFTC, effectively ending the CFTC enforcement action filed in 2023.
• The regulator stated it viewed the conduct as involving misrepresentations about Celsius’ safety, profitability, and regulatory compliance.
• The ban follows Mashinsky’s criminal conviction and sentencing in May 2025 for fraud tied to Celsius’ collapse.
• The outcome adds to prior U.S. regulatory restrictions, including an FTC settlement and ongoing civil litigation by the SEC.

CFTC consent order ends 2023 enforcement case

In its announcement, the CFTC said the matter was resolved by court consent order. The order permanently bars Mashinsky from trading in any market the CFTC regulates, and it also prohibits him from registering with the agency in the future.

The CFTC characterized the alleged conduct as a scheme to defraud customers by misrepresenting key features of Celsius’ digital asset-based finance platform. In particular, the regulator said the alleged misstatements related to the safety of customer funds, the platform’s profitability, and its regulatory compliance.

For institutional observers, the practical effect is straightforward: even where criminal or civil outcomes are still unfolding, CFTC-specific trading bans can materially constrain an individual’s ability to participate in regulated derivatives and commodities markets. Such orders often carry compliance implications for counterparties, background checks, and internal controls used by regulated entities.

Broader market-structure implications for digital assets

The CFTC’s action arrives amid a U.S. regulatory landscape in which the classification of crypto assets affects which agencies have primary oversight. Earlier this year, the CFTC and the U.S. Securities and Exchange Commission (SEC) issued guidance indicating that they considered most major cryptocurrencies to be commodities. As a result, conduct tied to certain digital assets has been repeatedly framed through the lens of commodities and derivatives regulation.

While the consent order is case-specific and does not itself reclassify assets, it underscores how enforcement authorities may apply commodity and derivatives rules to crypto-related financial services. For compliance teams, the emphasis is less on asset marketing language alone and more on whether authorities view a platform’s conduct as misleading or fraudulent in ways that intersect with regulated markets.

The CFTC also described the settlement as ending its first case against a digital asset lending platform, and as closing one of the last remaining regulatory actions pending against Mashinsky. That positioning matters: it suggests authorities are using the remaining enforcement pathways to remove recidivism risk by restricting access to regulated trading venues and regulatory processes.

Criminal conviction, prior FTC restrictions, and ongoing SEC case

The CFTC’s ban follows Mashinsky’s criminal sentencing in May 2025. Authorities had prosecuted him in connection with misleading Celsius customers and the platform’s subsequent collapse in 2022. The CFTC said its allegations included that Celsius received about $20 billion in customer funds and made risky investments to meet the returns it promised.

In addition to the CFTC’s actions, Mashinsky has already faced broad restrictions arising from the Federal Trade Commission (FTC). According to the article’s account, Mashinsky settled an FTC complaint in April, resulting in a permanent bar on working with any product or service that can be used to “deposit, exchange, invest, or withdraw assets.”

Separately, the SEC’s case against Mashinsky remains pending. The SEC filed charges in July 2023 alleging, among other issues, that he participated in an unregistered securities offering, misrepresented Celsius’ business and safety, and manipulated the price of Celsius’ CEL token. As described in the earlier court activity, the SEC told a federal court in late May that it had engaged in substantive settlement discussions, but that no agreement had been reached. The court granted the regulators an additional 60 days to continue negotiations.

There is also an active post-conviction dispute. Mashinsky filed a motion in late May seeking to vacate his 12-year sentence, claiming ineffective assistance of counsel and alleging evidence was tainted by misconduct. He also argued that another individual, identified as Sam Bankman-Fried, was responsible for token-related manipulation. A court ordered prosecutors to respond to that motion by mid-August.

For regulated firms and compliance officers, this procedural layering—criminal conviction, FTC restrictions, CFTC ban, and SEC litigation—highlights the need to treat enforcement outcomes as evolving risk signals rather than isolated events. Each forum has distinct legal standards, remedies, and enforcement theories, and organizations should map those differences to onboarding policies, monitoring frameworks, and vendor due diligence.

Why the ban matters for compliance and enforcement readiness

Although the CFTC consent order is limited to Mashinsky, the compliance implications extend beyond one individual. Permanent trading bans can affect:

• Counterparty risk management: regulated firms often screen principals and beneficial owners against public enforcement orders and permanent bars.
• Programmatic controls: entities managing trading access—especially those interfacing with futures or derivatives—must ensure restricted persons cannot participate directly or indirectly.
• Regulatory reporting and attestations: compliance statements to counterparties or regulators may require updated disclosures when enforcement status changes.
• Cross-border enforcement alignment: where platforms operate internationally, overlapping U.S. restrictions can intersect with local licensing conditions and suitability requirements.

At a policy level, the case also reflects how U.S. regulators have been using civil enforcement and criminal prosecutions to address conduct that authorities characterize as fraud and customer deception, particularly in high-yield or “returns” models offered through crypto infrastructure. The Celsius collapse remains a reference point for regulators seeking to prevent similar structures from operating without adequate investor protections.

However, uncertainty remains where other proceedings are still active. Even with the CFTC matter closed, the SEC case and post-conviction motion could change the overall legal landscape for Mashinsky, including how allegations are ultimately resolved and what additional sanctions might follow. Until those processes conclude, compliance frameworks should account for both current restrictions and potential future developments.

Closing perspective

The CFTC’s permanent trading and registration ban closes a significant enforcement chapter tied to Celsius’ founder, but it does not end all legal exposure. Market participants and compliance teams should monitor the status of the SEC litigation and the outcome of the post-sentencing motion, as these proceedings may further shape the regulatory and legal record relevant to crypto lending, customer disclosures, and the enforcement posture of U.S. agencies.

The crypto market is keeping traders on their toes. The Ethereum price clawed back from recent lows, but heavy selling pressure on Binance suggests the road up may not be smooth. The Binance coin price slipped after a hawkish Fed meeting shook risk assets across the board.

Both moves leave buyers searching for cleaner setups. That’s where BlockDAG (BDAG) takes the floor. Its Ultimate Sale offers BDAG at just $0.000024 with a stated sell price of $0.0005, a locked 21x return paid in USDT on October 1st. Backed by a fresh 5,500 TPS blockchain upgrade, BDAG is pushing hard as the most popular cryptocurrency story of the moment.

Ethereum Price Climbs Back, But Sellers Refuse to Step Aside

The Ethereum price has pushed up from its recent low and is trading near $1740, but the bounce comes with some warning signs. Data from CryptoQuant Korea shows Binance’s CVD reading sitting at around negative 8,400 ETH. In simple terms, sellers have been more active than buyers for a while now. Since this reading and the Ethereum price have moved together closely over the past 30 days, the trend is worth watching.

Chart experts are also eyeing key resistance zones between $1,550 and $2,300, using common tools like Fibonacci and Elliott Wave to map the next move. On a brighter note, a new idea could add quantum-safe security to ETH wallets for just 7 cents each, with no hard fork needed. ETH still ranks as one of the most popular cryptocurrency picks, but the short-term path is unclear.

Binance Coin Price Slips as Fed Move Shakes the Market

The Binance coin price dropped to around $591.21 in the last 24 hours, sliding harder than the broader market. The main reason isn’t BNB itself, it’s the Federal Reserve. New Chair Kevin Warsh just held his first meeting on June 17, and instead of softening up on rates, he pushed for price stability and hinted at possible rate hikes later in 2026. That spooked traders, sent Bitcoin tumbling over $2,000, and dragged most altcoins down with it.

Long liquidations made things worse. As BNB broke below its daily pivot of $602.87, leveraged long positions worth $162K and $132K got wiped out, adding more sell pressure. The Binance coin price is now testing the $597.97 Fibonacci support. A daily close below that level could open the road toward $550. For now, BNB stays one of the most popular cryptocurrency names, but short-term traders are watching that support zone closely.

BlockDAG’s Ultimate Sale Locks In a Clean 21x Return

While ETH and BNB struggle with market pressure, BlockDAG is moving in its own lane. The Ultimate Sale keeps things simple: buy BDAG at $0.000024 and sell at $0.0005. That gap means a locked 21x return, and that’s why BDAG keeps showing up as the most popular cryptocurrency talk among buyers right now. A $1,000 buy turns into about $20,833 once the sell price kicks in. No tricky rules, conversions, or hidden steps, just direct coins at a price that won’t stick around for long.

The payout is just as straightforward. On October 1, 2026, every Ultimate Sale buyer gets their balance shown in USD and paid out directly in USDT. To make things even clearer, a fresh demo video sits inside the dashboard, walking buyers through exactly how the distribution works before the date arrives. There’s no guessing game here; the path from purchase to payout is mapped out from start to finish.

Behind the offer sits real tech muscle. The BlockDAG blockchain has been upgraded to 5,500 TPS, pushing the network to a level few chains can match. That kind of speed and transaction capacity isn’t just a flashy number; it builds the foundation for serious apps, smooth user activity, and steady ecosystem growth.

A fast chain backing a simple 21x offer is the kind of combo that pulls eyes in. With the Sale window narrowing by the day, BDAG keeps climbing as the most popular cryptocurrency move buyers are chasing right now.

Conclusion

The Ethereum price and Binance coin price both hold value, but neither offers the kind of clean profit setup that the most popular cryptocurrency hunters are after right now. ETH is stuck under heavy selling, and BNB is bleeding under Fed pressure with no fresh spark to lean on.

BlockDAG cuts through all of it with a locked 21x return buy at $0.000024, sell at $0.0005, paid in USDT on October 1, 2026. A $1,000 buy turns into roughly $20,833 with no tricky rules in the way. Backed by a 5,500 TPS blockchain, the upside is hard to ignore. Buyers are rushing in before the Ultimate Sale window snaps shut for good.

Legacy Sale: https://purchase.blockdag.network

Website: https://blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

Disclaimer: This is a Press Release provided by a third party who is responsible for the content. Please conduct your own research before taking any action based on the content.

The US Commodity Futures Trading Commission (CFTC) has brought its case against Alex Mashinsky to a close, issuing an order that permanently bars the Celsius Network founder from trading in markets the agency oversees. The decision also prevents him from ever registering with the CFTC and ends the enforcement action the CFTC initiated in 2023.

In a statement issued Thursday, the CFTC said the resolution was formalized through a court consent order. The regulator stated that Mashinsky and Celsius “engaged in a scheme to defraud hundreds of thousands of customers” by allegedly misrepresenting the safety, profitability, and regulatory compliance of Celsius’ digital asset-based finance platform. The order means Mashinsky will be unable to participate in US commodities, futures, and derivatives trading subject to CFTC jurisdiction.

Key takeaways

• The CFTC permanently bars Alex Mashinsky from trading US commodities, futures, and derivatives regulated by the agency.
• The settlement also prohibits him from ever registering with the CFTC, effectively closing off a key regulatory pathway.
• The order ends the CFTC enforcement action launched in 2023 and resolves one of the last CFTC matters still pending against him.
• Mashinsky remains in ongoing legal proceedings, including a separate SEC case tied to Celsius token and business disclosures.

What the CFTC order changes for Mashinsky

The CFTC’s consent resolution is significant because it does more than stop a single activity. By permanently banning Mashinsky from trading in CFTC-regulated markets, the regulator removes his ability to engage in a wide range of derivatives and commodities-linked conduct that can intersect with crypto markets.

The agency also said the order bars him from registering with the CFTC in the future. While the practical meaning of registration requirements can vary by role, the prohibition signals the CFTC intends to permanently restrict Mashinsky’s involvement in regulated market activities tied to the commodities framework.

The CFTC’s Thursday announcement closes the book on an enforcement action that began in 2023. The regulator characterized the alleged misconduct as a broad scheme impacting a large customer base, rather than a narrow dispute about a particular instrument or disclosure.

Why the case matters for crypto regulation

This development lands at a time when the US regulatory line for crypto is increasingly shaped by distinctions between commodities and securities. Earlier in 2024, the CFTC and the US Securities and Exchange Commission (SEC) issued guidance stating they viewed most major cryptocurrencies as commodities, a position that has influenced how different parts of the crypto market are supervised.

Because Mashinsky’s ban applies to commodities-related trading, it reinforces how enforcement built on commodities jurisdiction can still lead to severe restrictions—even after other agencies’ actions. In Mashinsky’s situation, the CFTC is effectively adding another layer to a regulatory record that already limits him across multiple financial and crypto-related activities.

The CFTC also noted that the resolution marks the end of its first case against a digital asset lending platform. For market participants, that matters because lending firms have historically occupied a gray area between token trading, broker-like activities, custody-adjacent services, and interest-bearing products—areas regulators have targeted through different legal theories.

Sentencing and the alleged Celsius conduct

Separate from the CFTC settlement, Mashinsky was sentenced to 12 years in prison in May 2025 after pleading guilty to securities and commodities fraud. The plea involved allegations that he misled Celsius customers about the safety of the platform before it collapsed during the 2022 market downturn.

The CFTC’s complaint alleged that Celsius received roughly $20 billion in funds and made risky investments to meet the returns it promised. Although the CFTC’s Thursday statement focuses on the consent order’s terms, those allegations provide the backdrop for why the agency viewed the conduct as a customer-facing scheme tied to regulatory obligations and market risk.

For investors and users, Celsius remains a cautionary reference point in how yield products can be marketed and structured—and how the failure of underlying liquidity and risk controls can collide with regulatory scrutiny after a drawdown.

Other legal pressure still ongoing

The CFTC settlement does not end all of Mashinsky’s legal challenges. He is already subject to a permanent work ban connected to a Federal Trade Commission complaint filed earlier, which barred him from working with any product or service that can be used to “deposit, exchange, invest, or withdraw assets” after a settlement reported in April.

Meanwhile, the SEC’s case filed in July 2023 remains active. The SEC accused Mashinsky of making an unregistered securities offering, misrepresenting Celsius’ business and safety, and manipulating the price of Celsius (CEL) token. In late May, the SEC told a federal court that it had “engaged in substantive settlement discussions” with Mashinsky, but that no agreement had been reached. The court granted the regulators another 60 days to continue discussions.

Mashinsky has also challenged the criminal sentence. On May 26, he filed a motion seeking to vacate the 12-year term, alleging ineffective assistance of counsel, that evidence was tainted by authorities’ misconduct, and that Sam Bankman-Fried—described in the filing as the convicted fraudster and former FTX co-founder—was responsible for CEL token manipulation. A court ordered prosecutors to respond to the motion by mid-August.

Together, these proceedings show a complex enforcement footprint across multiple regulators and case tracks: CFTC sanctions closing commodities-related activity; SEC litigation over token and securities-related claims; and continued criminal review of the sentence.

As the SEC’s settlement discussions progress and the court schedules responses on Mashinsky’s bid to vacate his sentence, market participants should watch whether any resolution narrows the scope of pending claims, and what—if anything—changes in how regulators treat crypto-linked lending, customer-yield promotions, and token price conduct under different legal frameworks.

The Ethereum Foundation has lost another high-ranking contributor, amid increasing scrutiny of the research organization as the network faces ongoing questions about talent retention and governance philosophy.

In a post on X, co-executive director Hsiao-Wei Wang announced that she had stepped down from her role, effective immediately, following a recent sabbatical. Wang wrote that “Ethereum has always been bigger than any role” and indicated that she has not yet decided what she will do next.

Ethereum co-founder Vitalik Buterin commented on Wang’s an X post, acknowledging that she had taken on “the most challenging position in the Ethereum Foundation” alongside Tomasz Stanczak, who also stepped down from his leadership role earlier this year.

Source: Vitalik Buterin

The Ethereum Foundation has logged an estimated 19 layoffs and departures this year, although the loss of senior executives and core contributors has drawn the most attention. The wave of departures comes as the foundation grapples with intensifying competition, ongoing debate over Ethereum’s governance and long-term development strategy, and continued pressure on Ether’s market performance.

Buterin has also pushed back against criticism, particularly claims that the foundation should play a more active role in promoting the network. In May, he said that the foundation “is not the ‘center of Ethereum,’ rather […] ‘one node, with a defined purpose, alongside other nodes.’”

Related: Blockchain researcher defends Ethereum Foundation, says it’s doing ‘exactly’ its job

Decentralization remains Ethereum Foundation’s core mandate

In March, the Ethereum Foundation reaffirmed its role as a steward of the Ethereum ecosystem, unveiling a revised mandate that places even greater emphasis on decentralization.

“Our ultimate goal is for Ethereum to pass the walkaway test: its protocol and core application layers become robust and trustless enough that they would continue to reliably function and evolve even if the Foundation and today’s core developers disappeared tomorrow,” the foundation said.

Source: Ethereum Foundation

That philosophy has also shaped Buterin’s evolving stance on Ethereum layer-2 networks — the independent blockchains built on top of Ethereum to improve scalability and reduce transaction costs. 

Buterin recently stated that the original vision for layer-2s “no longer makes sense,” contending that many have failed to achieve meaningful decentralization and that improvements to the Ethereum mainnet make it a more suitable long-term scaling solution.

Magazine: Ethereum’s roadmap to 10,000 TPS using ZK tech: Dummies’ guide

TLDR

• BlackRock now ranks as the world’s third-largest Bitcoin holder, according to Arkham data.
• The asset manager reportedly holds about 764,000 BTC.
• Only Satoshi Nakamoto and Coinbase hold more Bitcoin than BlackRock.
• BlackRock moved ahead of Binance, which holds around 670,000 BTC.
• Strategy reports total Bitcoin holdings of 847,000 BTC.

BlackRock now ranks as the third-largest Bitcoin holder globally, according to data released by Arkham. The asset manager holds about 764,000 BTC, placing it behind only Satoshi Nakamoto and Coinbase. The ranking has sparked discussion because Strategy reports total Bitcoin holdings of 847,000 BTC.

BlackRock Moves Ahead of Binance in Bitcoin Rankings

Arkham’s latest data places BlackRock among the largest Bitcoin-holding entities worldwide. The report estimates that BlackRock controls around 764,000 BTC through its Bitcoin-related products and holdings. Meanwhile, Satoshi Nakamoto remains the largest holder with 1,096,000 BTC, while Coinbase holds about 970,000 BTC.

The ranking also places BlackRock ahead of Binance. According to Arkham’s figures, Binance accounts for roughly 670,000 BTC. As a result, BlackRock moved above the exchange in the latest list of major Bitcoin holders.

Discussion emerged after the report circulated across the crypto sector. Some market participants questioned BlackRock’s position because Strategy reports larger overall Bitcoin reserves. However, Arkham’s methodology focused on Bitcoin directly attributed to each entity profile.

Why BlackRock Ranked Above Strategy

Strategy remains the largest publicly traded corporate Bitcoin holder. The company reports total Bitcoin holdings of 847,000 BTC. On the surface, that figure exceeds BlackRock’s reported 764,000 BTC position.

However, Arkham explained why its ranking placed BlackRock ahead. The report stated that part of Strategy’s Bitcoin remains under custodial arrangements. Therefore, not all holdings appear directly under Strategy’s entity profile.

Arkham reported that about 184,000 BTC from Strategy’s total holdings sit with Fidelity Custody. After accounting for those custodial holdings, approximately 663,000 BTC remain directly associated with Strategy’s profile. That figure falls below BlackRock’s reported 764,000 BTC.

The distinction became central to the ranking debate. Arkham based its list on Bitcoin linked directly to entity profiles rather than total reported ownership. Consequently, BlackRock secured the third position despite Strategy’s larger disclosed Bitcoin reserves.

Arkham Details the Bitcoin Holder Breakdown

The report outlined a clear hierarchy among the largest Bitcoin holders. Satoshi Nakamoto leads with 1,096,000 BTC, while Coinbase follows with 970,000 BTC. BlackRock ranks third with approximately 764,000 BTC under Arkham’s calculations.

Binance follows BlackRock with around 670,000 BTC. Strategy appears below BlackRock when custodial holdings receive separate treatment. The ranking reflects Arkham’s tracking approach rather than publicly reported corporate ownership figures.

Arkham stated that BlackRock’s holdings exceed those directly attributed to Strategy’s profile. The data also shows BlackRock maintaining a larger Bitcoin balance than Binance. Those figures currently place the asset manager as the world’s third-largest Bitcoin holder.

The US Commodity Futures Trading Commission has resolved its action against Celsius Network founder Alex Mashinsky, permanently banning him from trading in markets the commodities regulator oversees.

The CFTC said Thursday that a court consent order also bars Mashinsky from ever registering with the regulator and ends the enforcement action it first filed in 2023.

“Mashinsky and Celsius engaged in a scheme to defraud hundreds of thousands of customers by mispresenting the safety, profitability, and regulatory compliance of Celsius’ digital asset-based finance platform,” the regulator said.

The latest order means Mashinsky will never be able to trade US commodities, futures and derivatives. Earlier this year, the CFTC and the US Securities and Exchange Commission issued guidance saying they considered most major cryptocurrencies to be commodities.

Source: CFTC

The settlement also puts an end to the CFTC’s first case against a digital asset lending platform and marks the end of one of the last remaining regulatory actions pending against Mashinsky.

Mashinsky was sentenced to 12 years in prison in May 2025 after pleading guilty to securities and commodities fraud for misleading Celsius’ customers about the safety of the crypto lending platform, which collapsed during a major market drawdown in 2022.

The CFTC alleged that Celsius received about $20 billion in funds and made risky investments to meet the returns it promised. 

Related: Onchain, in court: What happened in crypto legal news this week

Mashinsky has already been banned from ever working in crypto or finance after settling a Federal Trade Commission complaint in April that permanently barred him from working with any product or service that can be used to “deposit, exchange, invest, or withdraw assets.”

Mashinsky is still facing charges filed by the SEC in July 2023, accusing him of making an unregistered securities offering, misrepresenting Celsius’ business and safety and manipulating the price of its Celsius (CEL) token.

The SEC told a federal court in late May that it has “engaged in substantive settlement discussions” with Mashinsky, but no agreement had been reached, with the court granting the regulators’ request for another 60 days to continue discussions.

Mashinsky filed on May 26 to vacate his 12-year criminal sentence, claiming his lawyers were ineffective, that evidence was tainted by authorities’ misconduct and that FTX co-founder and convicted fraudster Sam Bankman-Fried was to blame for the manipulation of the CEL token.

A court on Saturday ordered prosecutors to respond to Mashinsky’s request by mid-August.

Magazine: Big Questions: Do we really only need 2–5 cryptocurrencies?

A major bank projects XRP ETFs could draw $4 billion to $8 billion in their first year if the CLARITY Act passes, three to six times what they have managed so far. The number rests on a specific argument about who is buying XRP, who is not, and a wall of supply at $1.45.

Standard Chartered, one of the largest banks in the world, has projected that XRP exchange-traded funds could attract $4 billion to $8 billion in inflows in their first year if the CLARITY Act passes. That is three to six times the roughly $1.44 billion that XRP ETFs have pulled in since their launch in November 2025.

Solana has fallen more than 6% from its June 15 high after a rejection at a major resistance zone, combined with a hawkish Federal Reserve outlook, pushed traders into risk-off positioning.

According to data from crypto.news, Solana (SOL) dropped from a recent peak of $75.60 to an intraday low of $70.70 on June 18 before stabilizing near $71. The decline followed a sharp recovery from early June lows around $62, where SOL had rallied more than 20% alongside a broader rebound across the crypto market.

The selling accelerated after the Federal Reserve kept interest rates unchanged at 3.50%–3.75% while warning that inflation risks remain elevated. Policymakers also projected the possibility of additional tightening in 2026, prompting traders to reduce exposure to high-beta assets.

Bitcoin retreated toward $64,000 following the announcement, while several large-cap altcoins posted steeper losses.

Oil markets added another layer of uncertainty. Although reports of a preliminary U.S.-Iran agreement helped crude prices retreat from recent highs, traders continued to assess whether geopolitical tensions and inflation pressures could keep monetary policy restrictive for longer than previously expected.

Solana price faces resistance at former support as liquidation risks build

The daily chart shows SOL rejecting a major resistance area between $75 and $76, a zone that previously acted as structural support before June’s breakdown. After failing to reclaim that level, price slipped back below the 61.8% Fibonacci retracement near $74.80 and now trades just above the 78.6% retracement level around $68.40.

A descending trendline connecting the May and June highs remains intact, preserving the short-term bearish structure. A daily close above that trendline would expose resistance levels near $74.80 and $79.30, while a successful breakout could open the path toward the 50% retracement level near $79 and eventually the $84 area.

Momentum indicators remain mixed. The Relative Strength Index has recovered from oversold territory but remains below the neutral 50 mark, suggesting buyers have yet to regain full control. Meanwhile, the Aroon indicator continues to favor the bears, with the Aroon Down reading holding significantly above Aroon Up.

Commenting on the setup, market commentator BATMAN noted that SOL had been “rejected by its previous support level, now as resistance,” adding that the stochastic oscillator had reached the same overbought region that preceded the last major top. He argued that “there’s a big chance we’ll see further bearish continuation from here.”

Derivatives positioning presents another challenge. CoinGlass liquidation heatmap data shows a dense cluster of leveraged positions between $74 and $76, creating a significant liquidity pocket above current prices.

Additional liquidation interest sits near $66, while the largest concentration of liquidity remains around the $65 region. Such clusters often attract short-term price moves as market makers hunt leveraged positions.

A break below $70 could expose June lows

Beyond technical factors, Solana continues to face questions about network activity. DefiLlama data has shown weaker transaction fee generation and slower growth in total value locked compared with earlier stages of the cycle, reducing one of the key drivers behind SOL’s outperformance over the past year.

At the same time, institutional capital has increasingly gravitated toward traditional markets. Strong demand surrounding the SpaceX IPO and continued enthusiasm for artificial intelligence-linked equities have drawn liquidity away from speculative crypto assets. Digital asset investment products have also faced persistent outflows in recent weeks.

The immediate support level remains near $70. A decisive break below that threshold could bring the June low around $62 back into focus, with the Fibonacci extension projecting downside risk toward the $60 area.

On the upside, bulls must first reclaim the $74–$76 resistance band before a broader recovery thesis can regain credibility.