A coalition of American Indian tribes is seeking to block prediction market Kalshi and the Commodity Futures Trading Commission (CFTC) from undermining gaming laws on Indian land.

The legal challenge is made up of a series of amicus briefs filed this month by the “Tribal Amici,” a legal body consisting of 30 federally recognized Indian tribes and 11 different Indian regulatory agencies. 

In an Amicus Brief — a brief that allows a third party outside the legal proceedings to offer their perspective on an ongoing case — filed on June 11, the Tribal Amici encouraged a court to deny Kalshi’s motion for preliminary injunction.

Meanwhile, a June 15 filing supported the State of New York’s opposition to the CFTC’s motion for a preliminary injunction.

In both cases, the tribal coalition claims that Kalshi and the CFTC’s actions would amount “to a sub silentio reversal of congressional policy and Supreme Court precedent” and “undermine existing tribal-state gaming compacts and regulatory frameworks.”

It argues the legal action would “allow prediction markets to offer sports-betting contracts subject to their own private regulation — not state or tribal regulation — on state and tribal lands; permit prediction markets to divert gaming revenues away from tribal and state governments; and diminish tribal self-determination.”

As such, tribes are seeking to maintain the freedom to regulate prediction markets like Kalshi, Polymarket, and the recently CFTC-approved Novig, when operating within American Indian jurisdictions.

The biggest piece of crypto news this week came from the CEO of the largest US exchange, not a chart. Brian Armstrong said on June 15 he is “as bullish as ever” on Bitcoin and thinks the market has “probably bottomed” around $60,000, per Benzinga, expecting BTC far higher by 2030. In every cycle, those who act on a signal like this before the crowd walk away rich.

Bitcoin had already climbed back above $65,759. ETH sits at $1,818, and DOGE trades at $0.0885. Pepeto’s raise has pushed past $10.27 million with the fear gauge still at 12 and the Binance listing creeping nearer, and every round that closes lifts the price, so today’s entry disappears within the week.

On the Moonshots with Peter Diamandis podcast, Armstrong called Bitcoin “the new digital gold” and traced its four-year cycles from 2011 through 2025, per Benzinga. Citibank floated a $189,000 BTC target for the end of 2026.

When the head of the largest US exchange calls a floor near $65,759, that is the crypto news splitting early movers from those who circle back too late. The cycle keeps manufacturing fear while the biggest names in finance quietly build conviction, and the gap between the headlines and that behavior is where the cleanest entries hide.

Armstrong’s $60,000 Floor, Building Conviction, and the Presale Closing Before the Crowd Notices

Why the Crypto News Keeps Circling Back to Pepeto for Early Movers

Crypto news lately swings between fear readings and bullish calls from people like Armstrong, and Pepeto has become the line separating wallets that took a position from those still waiting. A bottom call from a major exchange CEO proves the biggest players see opportunity in a downturn. Upward of $10.27 million flowing into a presale at that same fear level shows the same instinct at the ground floor.

As large-cap outlooks point to a stronger second half, the wallets rotating into projects with real tools catch the recovery. Every swap on PepetoSwap runs fee-free, so a position builds rather than thinning across trades.

The scanner catches wallet clustering, the fingerprint of a coordinated dump, before your money is near it. And the bridge ties Ethereum, Solana, and BNB Chain together at no transfer cost, so a portfolio stays intact across chains.

The numbers carry the weight. Over $10.27 million sits locked at a fear reading of 12, as every round lifts the floor and burns shrink supply. SolidProof audited the entire contract set, and a former Binance developer built the route to listing. A 170% staking yield grows every wallet committed. The approaching listing turns an entry at $0.0000001876 into a return large caps need quarters to even approach.

Ethereum (ETH) Price at $1,818 as Armstrong’s Bottom Call Lifts Market Sentiment

Ethereum (ETH) trades at $1,818 per CoinMarketCap, up 9.2% on the day. ETH remains 65% under its $4,954 record from August 2025. Bitmine now holds over 5.5 million ETH, near 4.6% of supply, and Standard Chartered keeps a $7,500 year-end target.

Ethereum (ETH) support holds at $1,600 with resistance at $1,850. Armstrong’s floor call adds confidence to the ETH case, but a 4.3x over a year is not what fractions-of-a-cent pricing delivers on a listing day.

Dogecoin (DOGE) Price at $0.0885 as Network Activity Climbs

Dogecoin (DOGE) sits at $0.0885 per CoinGecko, up 3.1% across the week. A joint SEC and CFTC framework labeled DOGE a digital commodity back in March 2026.

Dogecoin (DOGE) holds support at $0.080 with resistance at $0.095, and analysts flag $0.12 if that breakout sticks. The DOGE chart is turning up, but a 35% move on a $13.7 billion cap is not the return a single listing produces.

Conclusion

The crypto news signals recovery as Armstrong calls a bottom and conviction hardens. But a trillion-dollar asset class has a ceiling from here. The returns that change a life this cycle live in the presale lane.

Pepeto rewrites that math with real exchange tools and a listing that flips presale pricing into gains ETH and DOGE would need quarters to reach. Picture $1,000 today turning into $50,000 to $150,000 once trading opens. A mortgage gone.

A career you actually choose. Every crypto fortune began the same way: someone took the early entry before the crowd believed it and turned a tiny stake into money that changed everything. The Pepeto presale is that entry right now, and the wallets moving in today are choosing to be the next name people wish they had bet on early.

Click To Visit Pepeto Website To Enter The Presale

FAQs

Which crypto news matters most for investors right now?

The biggest crypto news right now is Coinbase CEO Brian Armstrong calling a Bitcoin bottom near $60,000 and projecting a much higher BTC price by 2030. Citibank’s $189,000 BTC target backs it, while Pepeto’s presale offers return distance institutional products cannot reach.

Should I buy Dogecoin at $0.0885?

Dogecoin (DOGE) trades at $0.0885 with a digital-commodity classification and a $0.12 ceiling once resistance at $0.095 breaks. Pepeto, by contrast, offers presale entry and listing upside through the Pepeto presale that DOGE cannot match at a $13.7 billion market cap.

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.

Defend American Jobs, a U.S. political action committee (PAC) associated with the crypto-focused network Fairshake, reported major advertising and media spending in Alabama’s Republican Senate primary runoff, further highlighting how crypto-adjacent political spending is being deployed to shape national electoral outcomes.

According to Federal Election Commission (FEC) disclosures filed with the regulator, Defend American Jobs spent more than $4.7 million on media and advertisements supporting Republican candidate Barry Moore in the Alabama runoff held Tuesday. The spending follows additional outlays the PAC reported earlier in the cycle ahead of Moore’s May 20 primary contest.

Key takeaways

• FEC filings show Defend American Jobs spent over $4.7 million on media and ads for Alabama Senate runoff candidate Barry Moore.
• The PAC’s runoff spending builds on earlier reported expenditures of $7.4 million supporting Moore before the May 20 primary.
• The Alabama race is being framed by crypto policy advocates as another test of crypto industry influence in U.S. elections.
• Additional crypto-linked PAC activity is also reported for races in Maryland and New York, with media buys for House candidates.
• Senate control dynamics are central to the policy path for crypto-related legislation, including stablecoin, tokenization, and market-structure proposals.

FEC disclosures detail Defend American Jobs’ Alabama runoff spending

FEC filings for Defend American Jobs indicate that, as of Tuesday, the PAC had directed more than $4.7 million toward media and advertising related to Republican Barry Moore’s Senate runoff bid in Alabama. The disclosures also reference earlier spending totaling $7.4 million leading up to his May 20 primary.

Moore is running for one of Alabama’s U.S. Senate seats in the Republican primary runoff against Jared Hudson, another Republican contender. The seat is associated with the post of former U.S. Senator Tommy Tuberville, who announced he would not seek reelection and is pursuing a gubernatorial bid in Alabama.

From a compliance perspective, the disclosures underscore how crypto-linked political entities can amass significant media budgets through PAC structures, with spending patterns that may be relevant to monitoring under broader election and political financing rules. For regulated firms, these developments can also affect how internal governance teams assess reputational risk, stakeholder communications, and the potential for policy influence narratives.

Crypto policy signaling: endorsements, “neutral” ratings, and legislative positions

Stand With Crypto, a Coinbase-affiliated advocacy group, described Jared Hudson as “neutral” on crypto policy when compared with Moore, whom it characterized as “strongly” supportive. The rating is presented as based on public statements and Moore’s voting record while serving Alabama’s 1st congressional district.

Hudson acknowledged publicly that “Big Crypto” did not support his candidacy, while indicating support for a crypto market-structure bill under consideration in the U.S. Senate. The contrast between the candidates’ stated positioning and outside advocacy assessments reflects how crypto policy becomes a distinguishing factor within candidate comparisons—an issue that compliance and legal teams may consider when analyzing how policy platforms are communicated to voters and stakeholders.

For institutional observers, these candidate-level distinctions can matter because crypto policy in the U.S. often turns on Senate-level legislative momentum and the specific provisions that lawmakers prioritize, including those affecting stablecoins and market infrastructure.

Broader election strategy: media buys across states and follow-on stakes

The Alabama runoff is being treated as part of a wider, multi-state approach by crypto-aligned political spending. Fairshake and related entities have reportedly funded media campaigns in other competitive races, and after Tuesday’s vote, they are expected to hold additional stakes in upcoming contests.

FEC reporting referenced in the broader coverage indicates that PACs tied to the Fairshake network plan further spending later in the month in Maryland and New York. In those later contests, the spending described includes roughly $5 million on media supporting Democratic candidate Adrian Boafo for a House seat and about $500,000 supporting Democratic candidate Ritchie Torres.

Other crypto-associated PACs also appear in the same political ecosystem. The Blockchain Leadership Fund, described as a hybrid PAC backed by Anchorage Digital and Chainlink, announced support for Moore in May. However, the referenced FEC status did not show corresponding expenditures for that PAC as of Tuesday. Separately, the Fellowship PAC, described as backed by $11 million from Cantor Fitzgerald and Anchorage, disclosed $350,000 in spending connected to Moore’s candidacy.

Separately, Fairshake itself reportedly reported a $193 million “war chest” as of January, signaling the potential scale of future spending across federal races. The organization has publicly stated it intends to oppose “anti-crypto politicians” and support “pro-crypto leaders” through media and advertising.

Why Senate arithmetic and stablecoin policy matter for crypto regulation

Beyond the immediate electoral context, policy impact depends heavily on U.S. legislative control. With Democrats previously in the minority in both the House and Senate during the current session, the party has been working toward regaining control of both chambers for the next Congress beginning in 2027. Current Republican majorities, described as slim on both sides of the Capitol, affect the ability to set legislative agendas for measures relevant to crypto, including market-structure and stablecoin-related proposals.

One cited example is the Digital Asset Market Clarity (CLARITY) Act. The bill passed the House in July 2025 but has reportedly faced delays in the Senate, amid debate involving stablecoin rewards and issues related to ethics and tokenized equities.

For crypto firms and financial institutions monitoring regulatory developments, the practical significance is that Senate control and committee prioritization can determine whether key proposals advance, stall, or are reworked—often resulting in changing compliance expectations. That is particularly relevant for market participants involved in stablecoin use cases, tokenized investment products, and custody or exchange-related services, where statutory clarity can affect licensing approaches and risk management practices.

Enforcement and compliance frameworks may also shift with legislation, because clearer statutory boundaries can influence how regulators interpret existing authority under AML/KYC regimes and consumer protection standards. Even absent new laws, ongoing political scrutiny and legislative bargaining can shape regulatory messaging and supervisory focus.

Closing perspective: what to monitor as election-linked spending and legislative timelines converge

As crypto-associated PACs continue to deploy resources across federal races, the next items to watch are updated FEC reporting for remaining contests and the evolution of Senate negotiations around crypto bills—particularly those with stablecoin and tokenization components. For compliance and policy teams, tracking both electoral developments and legislative sequencing can help anticipate shifts in regulatory priorities ahead of any broader statutory outcomes.

Elon Musk’s net worth has briefly climbed to nearly $1.4 trillion, surpassing Bitcoin’s market value at the time after SpaceX shares reached an intraday high of about $225.84 on June 16.

According to data from Yahoo Finance, SpaceX stock extended its post-IPO rally on Tuesday, pushing the company’s valuation close to $3 trillion at its session peak. The surge temporarily lifted the value of Musk’s holdings above the market cap of Bitcoin (BTC) at $1.31 trillion at the time, making him wealthier on paper than the world’s largest cryptocurrency was worth at that moment.

The milestone followed a remarkable run since SpaceX’s public debut. As reported by crypto.news, SPCX shares climbed to an intraday high of about $225.84 on June 16, placing the stock roughly 67% above its $135 IPO price before surrendering some gains later in the session.

The rally was driven by strong investor demand for the company’s space, satellite, and artificial intelligence businesses and temporarily lifted Musk’s net worth above Bitcoin’s market value at the time.

As crypto.news previously reported, SpaceX’s public listing made Musk the world’s first trillionaire. The stock’s continued advance in the days that followed added hundreds of billions of dollars to his paper wealth, further cementing his position as the world’s richest person.

Notably, retail investors rushed to gain exposure to the IPO before shares began trading. Some reportedly sought additional financing to increase their allocations.

Among them was Anna Watts, a 33-year-old public relations manager from New York, who accumulated $6,500 for the offering and unsuccessfully attempted to secure another $5,000 through both personal and bank loans.

Wealth tax debate follows Musk’s valuation surge

The jump in Musk’s fortune quickly spilled into a political debate over wealth concentration and taxation.

In a June 16 X post, Senator Elizabeth Warren argued that the financial system disproportionately benefits the wealthiest Americans while many households struggle with rising costs. 

“Our system is rigged so that one man becomes a trillionaire while millions of Americans can’t afford a trip to the doctor. Wealth is funneled to the wealthy while everyone else is hanging on by their fingernails.”

Warren used the occasion to renew support for her proposed wealth tax legislation, saying it would help address what she views as an uneven distribution of wealth.

Her comments drew criticism from Solana co-founder Anatoly Yakovenko, who argued on X that taxing unrealized gains could have unintended consequences for businesses and workers. 

Responding to Warren’s proposal, Yakovenko wrote, “If Elon is forced to sell shares, the Texas employee shareholders lose money.” He added that “The SpaceX company can’t raise as much and therefore can’t hire or build as many things in Texas,” arguing that taxing unrealized holdings could reduce investment and growth.

Meanwhile, crypto analyst Scott Melker framed the development through a Bitcoin lens. In a post on X, Melker wrote:

“The fastest path to $1M Bitcoin is to convince Elon Musk to put 10% of his net worth into BTC.”

The remark quickly spread across crypto communities as traders debated what such a move could mean for Bitcoin’s valuation.

Legal challenge emerges as AI safety concerns resurface

While SpaceX investors celebrated the stock’s advance, Musk’s artificial intelligence operations faced renewed scrutiny.

A former engineer has filed a lawsuit against xAI and SpaceX, alleging he was dismissed after repeatedly raising concerns about the safety of Grok, the companies’ artificial intelligence chatbot. According to the complaint, the employee pushed for stronger testing procedures and additional safeguards ahead of SpaceX’s IPO.

The lawsuit alleges that Grok lacked adequate protections against misinformation, bias, and other potentially harmful outputs. The filing further claims that xAI and SpaceX retaliated against the engineer and ultimately terminated his employment after he continued advocating for stricter safety measures.

According to the complaint, the former employee joined xAI partly because of Musk’s own public warnings about the risks associated with advanced artificial intelligence systems.

The case remains unresolved, but its emergence alongside SpaceX’s rally has added another layer of attention to Musk’s expanding business empire as investors continue to track the company’s post-IPO performance.

Bitcoin’s (BTC) risk-adjusted return profile is approaching levels historically aligned with long-term accumulation zones. The Sharpe ratio, a metric that measures return relative to volatility, dropped to -20, a threshold that marked major Bitcoin bottoms in every bear market since 2015. 

At the same time, BTC exchange reserves have fallen by roughly 80,000 BTC since February, while demand from accumulator addresses more than doubled to 240,000 BTC from 115,000 BTC during the first two weeks of June. 

BTC’s Sharpe ratio revisits a historical bottom zone

Bitcoin’s Sharpe ratio reached -20 on June 11, a level that coincided with major cycle lows over the past decade. The metric first dropped below the threshold on Jan. 5, 2015, and remained there until June 12, when BTC established a durable bottom and entered a recovery phase.

A similar pattern emerged between Dec. 8, 2018, and March 7, 2019, when the Sharpe ratio spent most of the three months below -20 during Bitcoin’s bear market floor. The metric repeated the signal from Oct. 7, 2022, through January 7, 2023, shortly before BTC began its next sustained bullish period. 

Bitcoin Sharpe ratio. Source: CryptoQuant

While no single metric identifies market bottoms with precision, periods below -20 have typically coincided with extended accumulation phases for BTC.

Onchain data points in the same direction. Bitcoin held on exchanges has declined to 2.71 million on Monday from 2.79 million BTC in February. BTC exchange reserves briefly rebounded to 2.73 million BTC from a yearly low of 2.65 million BTC between late April and early June, though balances have since fallen by about 12,000 BTC over the past two weeks.

Demand from accumulator addresses has strengthened during the same period. The cohort absorbed 125,000 BTC between June 1 and June 14. This indicates growing interest among wallets that have a history of holding rather than distributing coins.

BTC demand from accumulator addresses. Source: CryptoQuant

Related: Bitcoin’s ‘calm top’ challenges most market bottom estimates: Research

Bitcoin’s consolidation below the key weekly trendline is still developing

Bitcoin has spent 133 consecutive days below its 100-week simple moving average (SMA), a long-term trend indicator currently located near $88,466.

Market cycle data show that Bitcoin often trades below the 100-week SMA for extended periods before reclaiming it. Following the 2013 market peak, BTC spent 378 days below the trendline while consolidating between $200 and $400. During the 2018-2019 bear market, BTC remained below the 100-week SMA for 175 days and traded between $3,000 and $6,000.

BTC price, and 100-period weekly SMA trend analysis. Source: Cointelegraph/TradingView

The longest stretch occurred after the 2022 market decline. Bitcoin remained below the 100-week SMA for 532 days while trading between $16,000 and $25,000.

Across those three cycles, Bitcoin spent an average of roughly 362 days under the indicator before reclaiming it and establishing a sustained uptrend. Each period was characterized by prolonged accumulation rather than an immediate recovery.

With 133 days already logged below the 100-week SMA, the current cycle is still well below the historical average. Previous examples indicate that consolidation phases beneath the trendline often persist for several more months before Bitcoin reclaims the level.

Related: Bitcoin analysis warns over BTC price rejection as $67K approaches