Sunrise and Backpack Securities brought tokenized Micron Technology stock to Solana on Monday, listing $MU on-chain exactly 48 hours before Micron reports its fiscal third-quarter earnings after the closing bell on June 24. Each token is backed 1:1 by a real Micron share held in custody by Backpack… Read the full story at The Defiant

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The Alliance to End Human Trafficking, a faith-based nationwide network, delivered a letter signed by 82 Catholic leaders to Senate Majority Leader John Thune and Minority Leader Chuck Schumer on Tuesday, urging both parties to oppose Section 604 of the CLARITY Act, the provision that would exempt non-custodial DeFi developers from criminal prosecution and AML compliance obligations.

The bill cleared the Senate Banking Committee 15–9 on May 14, 2026, but still needs a full Senate floor vote, and Polymarket currently prices Trump signing it into law this year at roughly 42%. A coalition letter targeting the bill’s most industry-critical provision, arriving from an unexpected moral quarter, does not improve those odds.

Section 604 codifies the Blockchain Regulatory Certainty Act (BRCA), language that has circulated in various legislative forms since at least 2018.

Its operative effect: persons who cannot unilaterally execute or prevent a transaction on behalf of another user, developers publishing open-source code, node operators, and unhosted wallet providers are not classified as money transmitters under the Bank Secrecy Act. That carve-out removes them from Bank Secrecy Act registration and reporting requirements.

For DeFi protocol operators and open-source developers, BRCA is the bill’s existential provision; industry groups have stated flatly they will not support the CLARITY Act without it. The Trump DOJ’s imprisonment of multiple crypto software developers over the past year for building privacy-enabling tools is precisely the prosecutorial risk BRCA is designed to eliminate.

The AML Loophole Argument: What AEHT Is Actually Charging

The Alliance to End Human Trafficking’s letter does not object to crypto regulation broadly; it objects to a specific legal mechanism. The coalition argued that BRCA “may make it more difficult to responsibly monitor illicit financial activity tied to trafficking, organized crime, child exploitation, sanctions evasion, and other forms of abuse.”

The structural claim is precise: by removing non-custodial developers from the money-transmitter classification, Section 604 strips away the transaction-monitoring and suspicious-activity-reporting obligations that AML frameworks depend on, leaving a compliance gap that transnational criminal organizations can exploit.

This is not a novel critique. The Bank Policy Institute issued a brief in June 2026 calling the Senate CLARITY bill “illicit finance-friendly” rather than innovation-friendly, warning that DeFi platforms and unhosted wallets would fall outside standard AML and sanctions rules entirely.

Transparency International U.S. made a parallel argument after the Senate Banking Committee markup, flagging the absence of clear obligations for non-custodial services as a structural weakness that would “hamper law enforcement’s ability to trace and interdict illicit finance.” What AEHT adds is not a new legal theory – it is a new political constituency delivering that theory.

The Catholic leaders framed their opposition in the language of Catholic social teaching: “The test of any financial system is not simply whether it generates wealth or innovation, but whether it safeguards human life and dignity,” the letter stated. That framing matters because it is not primarily a technical objection to market structure design – it is a moral claim about legislative complicity, and moral claims have different political mechanics than regulatory-policy objections from the banking lobby or the CFTC.

Senate Math: Why Faith-Based Opposition Is Harder to Neutralize Than Partisan Opposition

The CLARITY Act’s floor-vote problem is arithmetical. Reaching the 60-vote cloture threshold requires picking up five to seven Democratic senators beyond the two who crossed over at the May 14 committee vote.

Those crossover votes are most plausible from Democrats in competitive states or those who have staked a position on crypto-friendly economic development, senators who need a defensible justification for breaking with a caucus that includes Sens. Elizabeth Warren and Jack Reed, both of whom filed amendments during the markup aimed at extending AML obligations to DeFi platforms and smart contracts.

The AEHT letter complicates that justification directly. A Democratic senator considering a yes vote can deflect industry-lobby opposition as special-interest pressure.

Deflecting a faith-based anti-trafficking coalition that invokes Catholic social teaching on solidarity and human dignity – in writing, to Senate leadership – is a materially different political task. It hands opponents a ready-made floor-speech frame: a vote for BRCA is a vote against the tools that catch traffickers. That framing does not have to be legally accurate to be politically effective.

The CLARITY Act is already absorbing opposition from Wall Street over stablecoin yield language, from Native American tribes over prediction market sports-wagering provisions, and from a Democratic faction insisting the bill restrict President Donald Trump’s personal crypto ventures.

Each opposition bloc targets a different provision, which means resolving one does not resolve another. The AEHT letter specifically targets BRCA, which industry groups have designated a red line – meaning any Senate concession on Section 604 to address the trafficking-finance argument would likely require a House-Senate conference, consuming time the bill does not have.

Don’t Miss Out on Our $1,000 USDT Airdrop on ByBit

The post Here’s How the Catholic Church Could Kill CLARITY Act Over Human Trafficking appeared first on Cryptonews.

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The primary cryptocurrency, which suffered another price decline yesterday (June 23), attempted to reclaim some lost ground, but the recovery was far from convincing.

While numerous altcoins remain in red territory, the lesser-known Audiera (BEAT) has defied the prevailing bearish environment by posting a 40% daily increase.

BTC Fails to Recover

The asset started the business week on the right foot, rising to almost $66,000. However, that pump was short-lived and followed by a pullback to as low as $61,900.

Over the past 24 hours, the bulls tried to step in, briefly lifting the price to nearly $63,000, but the sellers remained active, preventing a more substantial rebound. As of this writing, BTC trades at around $62,600, representing a mere 0.5% increase on a daily scale and a 4.5% plunge for the last week.

It is important to note that the asset’s unsatisfactory performance coincides with the crisis in traditional finance. As CryptoPotato reported, the popular indexes Nasdaq, S&P 500, and South Korean tech stocks headed south after a global sell-off in the Artificial Intelligence (AI) sector.

Meanwhile, the constant outflows from spot BTC exchange-traded funds (ETFs) signal waning interest from institutional investors, which could further weigh on the asset’s short-term performance.

Bitcoin’s market capitalization currently stands at around $1.25 trillion, while its dominance over altcoins remains unchanged at approximately 56.3%.

How are the Alts Doing?

While today’s (June 24) altcoin landscape isn’t the same bloodbath seen 24 hours ago, plenty of tokens are still suffering steep losses. Worldcoin (WLD) has tumbled by 7%, Kaspa (KAS) has plunged by 5%, whereas Litecoin (LTC) is down 3%.

Audiera (BEAT) is on the opposite corner and stands out as the best-performing cryptocurrency (at least from the top 100 list). Its price has exploded by 40% and now trades at around $2.40. Other notable gainers include JUP (+6%), AVAX (+5%), XMR (+4%), and SUI (+3%).

The total crypto market capitalization has risen by 0.5% over the last day and is currently hovering at roughly $2.34 trillion.

The post Bitcoin’s Price Rejected at $63K as This Altcoin Explodes by 40%: Market Watch appeared first on CryptoPotato.

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Ripple has received a preliminary Crypto Asset Service Provider license from Luxembourg's financial regulator, a gate-opening step toward offering its payments platform across all 30 European Economic Area countries once final conditions are met. The approval, described as a "Green Light Letter,"… Read the full story at The Defiant

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The world’s largest asset manager, BlackRock, has reiterated that bitcoin’s role in investment portfolios is evolving, describing the asset as a viable complementary diversifier for long-term strategies.

The firm outlined that 1% to 2% Bitcoin allocation can be a reasonable range for investors who believe adoption will continue while still accounting for the cryptocurrency’s volatility. The latter, by the way, has been dwindling lately.

The view builds on BlackRock’s broader push into the digital asset industry. As CryptoPotato reported earlier this month, the firm launched the iShares Bitcoin Premium Income ETF, which expanded its BTC-linked product lineup. It’s also a testament to the growing demand for covered-call strategies oriented toward BTC.

At the same time, major institutions are also paying closer attention to blockchain infrastructure. BlackRock’s BUIDL fund is playing a major role in tokenization.

A Small Bitcoin Allocation With Outsized Risk Impact

BlackRock’s portfolio-sizing strategy focuses more on adoption and volatility. In a traditional 60/40 stock-and-bond portfolio, the firm said a 1% to 2% Bitcoin position could contribute a risk share comparable to large technology stocks.

Bitcoin’s role in portfolios is evolving, and it could be considered a complementary diversifier.

We believe a modest allocation (typically ~1–2%) could impact return potential in a portfolio while maintaining appropriate risk tolerance.

Hear more from Michael Gates on how… pic.twitter.com/oOIRfq6F4D

— BlackRock (@BlackRock) June 23, 2026

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The key point here is that the allocation remains small by design. According to the asset manager, moving beyond that range could sharply increase Bitcoin’s contribution to overall portfolio risk, especially because the asset remains prone to steep drawdowns and rapid shifts in sentiment.

 Institutional Demand Continues to Expand

BlackRock’s latest commentary comes just as Bitcoin exposure through regulated financial products continues to expand. The launch of the iShares Bitcoin Premium Income ETF added yet another layer to the market, targeting investors who are interested in BTC-oriented income strategies, rather than simple spot exposure.

Moreover, the institutional backdrop is also moving beyond Bitcoin. In a recent interview with CryptoPotato, Aptos Labs Chief Business Officer Solomon Tesfaye discussed why firms such as BlackRock are watching blockchain rails tied to tokenized assets, settlement efficiency, and institutional-grade financial activity.

That said, BlackRock’s own language remains cautious. The firm continues highlighting the asset’s volatility, uncertain path of adoption, as well as the need for regular portfolio review.

The post BlackRock Says Bitcoin’s Portfolio Role Is Changing: Why 1-2% Matters appeared first on CryptoPotato.

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Key Takeaways

• SanDisk (SNDK) shares reached a 52-week peak of $2,354.39 on June 22 before retreating, maintaining a remarkable 700%+ gain in 2026.
• The decline coincided with a major selloff in South Korea’s Kospi index and mounting uncertainty over AI memory spending sustainability.
• According to Morgan Stanley, SanDisk views AI as “fundamentally changing” NAND dynamics, fueled by inference workloads and expanded LLM context windows.
• Third quarter FY2026 revenue exploded 251% versus prior year to $5.95 billion, crushing Wall Street’s $4.55 billion forecast.
• Fourth quarter outlook projects revenue between $7.75B and $8.25B, with non-GAAP EPS guidance of $30 to $33.

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SanDisk (SNDK) shares have delivered one of 2026’s most impressive performances. Following a year-to-date surge exceeding 700%, the stock peaked at $2,354.39 on June 22 before encountering turbulence.

Sandisk Corporation, SNDK

The memory chip maker experienced a steep decline alongside sector peers, pressured by a significant downturn in South Korea’s Kospi benchmark and emerging concerns regarding the durability of AI-fueled memory demand. SNDK has retreated approximately 13.6% in the recent selloff and is down roughly 5.75% across the past five sessions. Trading data shows the stock hovering around $1,963.60.

Despite this correction, shares remain elevated 32.8% over the trailing 30-day period. This perspective is crucial — the current volatility represents the first significant challenge to the AI memory narrative since SanDisk separated from Western Digital in early 2025.

AI’s Transformative Impact on Memory Markets

Morgan Stanley’s Joseph Moore highlighted that SanDisk sees AI as “fundamentally changing” NAND dynamics. The primary catalyst is inference workload requirements. With large language models demanding expanded key-value caches and broader context windows, DRAM capacity alone proves insufficient — positioning NAND to occupy a higher tier in the memory architecture.

Cloud infrastructure is projected to emerge as NAND’s dominant end market before year-end. This transition is already visible in SanDisk’s financials, with data center revenue skyrocketing 233.4% sequentially to reach $1.47 billion during Q3 FY2026.

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The third quarter results, announced April 30, exceeded expectations dramatically. Revenue totaled $5.95 billion, representing a 251% year-over-year increase and substantially outpacing the $4.55 billion analyst consensus. Non-GAAP EPS delivered $23.41 compared to the $14.36 estimate. Non-GAAP gross profit surged 1,111.9% annually to $4.7 billion. Additionally, the company achieved debt-free status, closing the quarter with $3.7 billion in cash reserves.

Shares climbed 3.04% on the earnings announcement and continued upward with an 8.25% gain in the subsequent trading session.

Forward Outlook and Valuation

For Q4 FY2026, management projects revenue ranging from $7.75 billion to $8.25 billion, with non-GAAP EPS between $30 and $33. Wall Street analysts forecast Q4 EPS of $31.81, representing a staggering 158,950% year-over-year increase.

QLC Stargate products — which have undergone hyperscaler qualification testing for over twelve months — are anticipated to commence revenue-generating shipments in Q4, supplementing existing TLC product momentum.

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Notwithstanding the impressive rally, SanDisk commands a forward adjusted P/E ratio of 34.13 and a price-to-sales multiple of 17.17, both exceeding industry benchmarks. Its trailing P/E of 64.5 surpasses the industry norm of 44.5. Current pricing also sits approximately 12% above the consensus analyst target of $1,863.06.

Among 21 analysts tracking SNDK, 18 assign a “Strong Buy” rating, one recommends “Moderate Buy,” and two rate it “Hold.” Morgan Stanley holds an “Overweight” stance with a $1,750 price objective. The highest Street target stands at $3,250.

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TLDR:

• INFINIOS will integrate USDC, EURC, and Circle’s API-enabled payment rails into its platform.
• The deal targets cross-border payments, treasury management, and embedded finance use cases.
• Both firms align on KYC, AML/CFT, and data protection standards for regional compliance needs.
• Circle’s Middle East expansion accelerates as demand for internet-native financial infrastructure grows.

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INFINIOS Circle’s new strategic agreement marks a significant move in the region’s financial technology landscape.

Announced on June 24, 2026, in Manama, Bahrain, the deal links INFINIOS, a Bahraini fintech company, with Circle Internet Financial.

Together, they plan to expand digital payment and treasury infrastructure across the Middle East and beyond, targeting businesses and financial institutions seeking faster, more connected financial solutions.

Stablecoin Integration at the Core of the Agreement

Under the agreement, INFINIOS will integrate Circle’s financial infrastructure into its platform. This includes USDC, EURC, and API-enabled onchain payment capabilities for payouts and treasury operations. The integration gives INFINIOS access to globally recognized stablecoin rails designed for institutional use.

The arrangement covers a broad range of enterprise and institutional use cases. These include cross-border payments, treasury and liquidity management, merchant settlement, and platform payouts. Tokenized financial services and embedded finance solutions are also part of the scope.

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Both companies have emphasized a shared commitment to regulatory compliance throughout the collaboration. The agreement aligns with KYC, AML/CFT, and data protection standards relevant to financial operations in the region. This focus on compliance positions the partnership as a trust-based infrastructure initiative.

INFINIOS CEO Sherif Abdelsalam framed the deal as a turning point for regional digital finance. He said the partnership combines INFINIOS’s market expertise with Circle’s technology to unlock real-time, global financial connectivity.

He added that the goal is to build infrastructure that enables seamless, compliant, and scalable financial innovation globally.

INFINIOS Eyes Broader Regional and Global Connectivity

Circle’s Managing Director for the Middle East and Africa, Dr. Saeeda Jaffar, pointed to accelerating demand for modern financial infrastructure across the region.

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She noted that businesses and financial institutions are actively seeking faster, more connected ways to move value globally.

The collaboration with INFINIOS, she said, is designed to expand access to Circle’s stablecoin infrastructure across key markets.

Dr. Jaffar also stated that the partnership aims to enable new payment, treasury, and embedded finance use cases across the region.

She described the joint effort as advancing trusted, internet-native financial infrastructure built for greater interoperability, efficiency, and global connectivity. Her remarks reflect Circle’s broader strategy of deepening its footprint in emerging fintech markets.

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Circle Internet Group trades on the NYSE under the ticker CRCL and operates as a leading global financial platform company.

Its subsidiary, Circle Internet Financial, brings established stablecoin infrastructure to the partnership. This gives INFINIOS a globally recognized technology backbone for its regional expansion plans.

The collaboration between INFINIOS and Circle reflects a broader trend of traditional and digital finance converging in the Middle East.

As the region’s fintech ecosystem matures, partnerships of this kind are becoming increasingly common. The agreement sets a framework for interoperable, efficient digital finance infrastructure built to scale globally.

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Despite a handful of short-lived rebounds, Bitcoin has remained locked in a steep multi-month downtrend, and many analysts believe it hasn’t reached its true cycle bottom.

There is a growing debate over whether BTC (which now trades just south of $63,000) is poised to break under the psychological $50,000 level, with some warning that an even deeper crash might be on the horizon.

Bulls, Get Ready

A few hours ago, Ali Martinez paid close attention to the $60,000-$63,000 range, noting it is the largest volume cluster, with more than 1.3 million BTC transacted.

In his view, “immediate support” at $60,587 must hold to maintain the current trend, but a break below could open the door to a collapse to $46,702, where 150,000 coins moved. Moreover, a subsequent drop beneath that zone could trigger a devastating crash to $37,867, something last observed towards the end of 2023.

X user Chiefy also thinks the worst is ahead, predicting a “final trap” that could take the price to as low as $44,000. “That’s where the crowd finally gives up. Just like they did in 2022,” the analyst added.

Whales Don’t Agree

Despite the prevailing bearish sentiment and a wave of pessimistic forecasts, large investors seem remarkably unshaken. Not long ago, these market participants purchased 30,000 BTC (worth over $1.8 billion) in the span of a single week.

Such accumulation signals that whales are positioning for the next price pump and shows their strong conviction in the asset’s long-term price potential. It is worth noting that smaller players monitor these actions and could get encouraged to hop on the bandwagon, thus distributing fresh capital into the ecosystem.

Meanwhile, the analytics platform Lookonchain revealed that one anonymous whale opened a 40x long position on Bitcoin, worth nearly $70.5 million. This is a highly risky bet, and a plunge to $61,724 would liquidate the trader (should they not provide additional collateral to keep the position open).

Some might see this as a sign of an incoming resurgence. After all, whales are known for being experienced investors who rarely wager substantial sums, relying simply on their sixth sense.

The post Bitcoin Warning: Here’s Why BTC’s Price Could Crash Below $38K (Analyst) appeared first on CryptoPotato.

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