Two US lawmakers on opposite sides of the political aisle are backing a resolution that “under no circumstances should Samuel [SBF] Bankman-Fried receive executive clemency, including a pardon or commutation.”

In a resolution to be introduced Wednesday, Republican Senator Cynthia Lummis and Democratic Senator Rubén Gallego warned that should US President Donald Trump grant SBF’s request for a pardon, it would “erase [his] conviction […] weaken deterrence, and send a deeply damaging message that perpetrators of large-scale financial fraud can escape permanent accountability.” The resolution would be non-binding, as a US president’s pardon power is enshrined in the Constitution.

“[The US Senate] affirms that the 25-year sentence imposed upon Bankman-Fried reflects the extraordinary scale and deliberateness of his crimes, his lack of remorse, and the catastrophic harm inflicted upon millions of victims, and that such a sentence serves the interests of justice,” read the resolution.

Source: Senator Rubén Gallego

The resolution came after Bankman-Fried formally applied for a pardon from Trump of his conviction on seven felony counts related to the misuse of FTX user funds. Last week, a federal appeals court upheld that conviction and sentence, leaving his only legal path forward a presidential pardon or an appeal to the US Supreme Court.

Bankman-Fried was convicted in November 2023 following the collapse of cryptocurrency exchange FTX a year earlier, which resulted in investor losses totaling billions of dollars. He was later sentenced to 25 years in prison. 

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

Following his sentencing in March 2024, the former CEO posted several messages to social media aligning with Trump’s political agenda, including US military actions in Venezuela and Iran. However, in a January interview with the New York Times, the president said he had no plans to pardon Bankman-Fried.

Source: Sam Bankman-Fried

Cointelegraph sought comment from Gallego’s office but did not receive an immediate response. A spokesperson for Lummis said that the senator “wants him to know that her and her colleagues think Mr. Fried is right where he belongs” by introducing the resolution.

Other FTX figures still serving time

Although some of the former executives of the defunct cryptocurrency exchange were sentenced to time served in exchange for their cooperation and testimony at SBF’s trial, one is still in federal prison, and another was released earlier this year. 

Caroline Ellison, the former CEO of Alameda Research, received a two-year sentence in 2024 and was given an early release in January after 14 months. FTX former engineering director Nishad Singh and co-founder Gary Wang were both sentenced to time served. All testified against SBF at trial.

Ryan Salame, the co-CEO of FTX Digital Markets, was sentenced to 90 months in prison related to unlawful political contributions and conspiracy to operate an unlicensed money-transmitting business. His wife, Michelle Bond — though not an FTX employee — was recently indicted on charges related to her 2022 run for Congress allegedly financed with illegal campaign contributions from the crypto exchange.

Magazine: The end of anon? AI could unmask crypto’s hidden identities

The cryptocurrency market in June 2026 is defined by extreme structural shifts as massive capital blocks rotate out of speculative public exchanges. High frequency algorithmic trading and sudden regulatory actions have created a highly volatile environment, completely destroying retail profit margins. Portfolio managers are shifting their attention toward native utility platforms featuring isolated treasury contracts to protect their principal investments.

This ongoing market correction proves that standard open market trading is no longer a viable strategy for sustainable capital growth. Sidelined investors are aggressively seeking ecosystems that provide fixed financial guarantees rather than relying entirely on unpredictable daily trading volume.

BlockDAG Announces the Concluding Phase of Its Legacy Sale

When analyzing the top trending cryptos 2026, BlockDAG dominates institutional interest by announcing the final operational countdown for its legacy tier. This clean urgency play focuses on the fact that the promotional introductory tier is officially wrapping up, making this the absolute final window to secure these specific terms before standard price discovery begins. Participants can leverage the native direct swap dashboard to acquire tokens at the foundational rate of $0.00000044. Every allocation is securely locked into a guaranteed corporate buyback contract fixed at $0.10.

This hardcoded exit strategy eliminates the stress of chart monitoring and completely shields portfolios from sudden liquidity crunches. As the premier choice among trending cryptos 2026, BlockDAG is experiencing massive capital inflows as large scale asset managers drain the remaining treasury pool. Once the current allocation reaches maximum capacity, this fixed ten cent settlement will disappear permanently. Everyday buyers must execute their positions immediately before the closing bell rings on this historic wealth building vehicle.

Arbitrum Consolidates Near Historic Price Lows

Market data from mid June 2026 shows Arbitrum trading at a highly depressed value of $0.09. The network has experienced a massive 74.33% drop over the past twelve months, establishing an all time low of $0.06 earlier in the month. Despite handling significant decentralized application volume as a layer two scaling solution, the native asset continues to suffer from heavy token unlocks and institutional distribution.

While the token is often listed among trending cryptos 2026, actual price action remains deeply bearish. The $0.10 zone acts as heavy overhead resistance, constantly rejecting localized relief rallies. Until the core development team restructures the tokenomics to encourage long term holding, Arbitrum will likely remain trapped in this tight consolidation phase.

Internet Computer Fights Stagnant Market Momentum

Internet Computer continues to face significant market friction, trading near $8.45 during the second week of June 2026. The network has successfully expanded its cloud infrastructure capabilities, attracting enterprise developers looking for decentralized hosting solutions. However, this fundamental utility has failed to translate into meaningful token price appreciation.

The asset recently broke below its 50 day moving average, signaling increased bearish control over the short term. Support currently sits at $7.80, and a failure to hold this level could trigger a rapid descent toward the $6.50 range. While developers consider the platform functionally superior to older chains, retail investors searching for trending cryptos 2026 are heavily disappointed by the persistent lack of upward chart momentum.

Kaspa Faces Heavy Selling Pressure Below Moving Averages

Kaspa is currently navigating a tough technical landscape, with prices hovering around $0.14 in mid June 2026. After experiencing explosive growth in previous quarters, the proof of work network is now enduring a prolonged distribution phase. Large scale early miners are actively taking profits, creating a massive supply wall that suppresses new retail buying volume. The asset is currently testing critical structural support at the $0.13 zone.

A confirmed daily close below this baseline could invalidate the entire macro bullish structure. As portfolio managers evaluate trending cryptos 2026, Kaspa presents a highly risky setup. The lack of smart contract functionality limits the ecosystem’s ability to lock up circulating supply, leaving the token entirely dependent on constant spot market demand.

To Conclude

Evaluating the current digital asset sector highlights the extreme danger of holding highly speculative utility tokens. Arbitrum remains severely depressed at $0.09 following a massive yearly decline. Internet Computer struggles to clear technical resistance near $8.45, while Kaspa faces heavy miner distribution at $0.14.

In stark contrast, BlockDAG establishes itself as the ultimate leader among trending cryptos 2026. By utilizing the concluding legacy sale to secure a $0.00000044 entry, retail investors guarantee a fixed $0.10 corporate exit. This mathematically flawless framework provides total financial security, making BlockDAG the absolute best choice before the promotional vault closes permanently.

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 XRP Ledger 3.2.0 upgrade has reached network operators, bringing infrastructure improvements and software changes across the ecosystem. David Schwartz, Ripple’s CTO emeritus and one of the original architects of the XRP Ledger, recently upgraded his independent hub server to the latest version after a short maintenance period.

Source: https://x.com/JoelKatz/status/2067004655021048252?s=20

The XRP Ledger 3.2.0 upgrade focuses on maintenance, cleanup, and reliability improvements. While the release does not introduce major new features, it strengthens existing systems and prepares the network for future development. As operators begin deployment, the update marks another step in the network’s ongoing technical evolution.

David Schwartz Completes Hub Upgrade

Schwartz announced on X that he temporarily took his hub offline to install the XRP Ledger 3.2.0 upgrade. He initially expected the process to take about ten minutes. However, the server required additional time to shut down safely before the installation could proceed.

Alongside the announcement, Schwartz shared performance data covering the previous month. He stated that the charts showed only “one real event,” which he described as an “unexplained burst of peer disconnections.” According to his comments, the disruption likely resulted from a nearby network outage rather than an issue within the XRP Ledger itself.

His hub serves as part of the broader peer-to-peer infrastructure that supports connectivity and data exchange across the network. Although the hub does not function as a validator replacement, it helps participants monitor network activity and maintain reliable connections.

Xrp Ledger 3.2.0 Upgrade Introduces Key Changes

The XRP Ledger 3.2.0 upgrade includes several technical improvements. Developers removed amendments that had remained active for more than two years. The release also continues the modularization of libxrpl, which supports long-term software maintenance.

In addition, the update introduces fixCleanup3_2_0. This package addresses issues affecting Single Asset Vaults, the Lending Protocol, permissioned decentralized exchange tools, Multi-Purpose Tokens, and permissioned domains.

The fixes improve precision, rounding processes, validation checks, and system invariants. As a result, operators gain a more stable software environment for running network services and supporting advanced blockchain functions.

Software Rename Marks New Network Identity

One of the most visible parts of the XRP Ledger 3.2.0 upgrade is the renaming of the core server software. Under XLS-0095, developers changed the server binary name from rippled to xrpld. They also renamed the default configuration file from rippled.cfg to xrpld.cfg.

The migration requires operators moving from version 3.1.3 to complete additional configuration steps. Network documentation advises operators to update systems promptly to avoid service interruptions.

Beyond technical changes, the new name creates a clearer connection to the XRP Ledger network. At the same time, the release supports broader development efforts, including lending tools and programmable escrow features that continue to expand the network’s functionality.

Crypto exchange Bybit has been added to the Monetary Authority of Singapore’s (MAS) Investor Alert List, a registry designed to warn consumers about entities that may be wrongly perceived as licensed or regulated by the financial watchdog. 

Bybit Fintech Limited and Bybit appeared on the MAS alert list on Wednesday, although the regulator did not provide a specific reason for their inclusion.

Bybit Fintech Limited, the corporate entity behind the exchange, appears on the MAS Investor Alert List website. Source: MAS

According to MAS, the Investor Alert List identifies entities and investment offers that may create the false impression of being licensed, authorized, regulated or registered by the authority, or whose investment offerings may be mistakenly viewed as having received MAS approval.

Based on publicly available information, Bybit is not licensed or regulated by MAS. Cointelegraph reached out to a Bybit spokesperson for comment but did not receive a response by the time of publication.

Although Bybit was founded by Singaporean entrepreneur Ben Zhou, the exchange does not operate in the city-state. Singapore is listed among the company’s “Service Restricted Countries” on its website, meaning users in the jurisdiction are not permitted to access its services.

Related: SBI Holdings targets majority stake in Singapore crypto exchange Coinhako

Singapore maintains strict oversight of crypto sector

Singapore has cemented its position as a leading crypto hub, ranking among the world’s top jurisdictions for decentralized finance and institutional digital asset services in Chainalysis’ 2025 Global Crypto Adoption Index. Retail crypto adoption, however, ranked significantly lower.

The MAS has continued to take an assertive approach to industry oversight. In May, the regulator revoked the Major Payment Institution license of crypto liquidity provider Bsquared Technology after uncovering what it described as serious regulatory breaches, including weaknesses in risk management and conflict-of-interest policies. 

MAS also said the company had provided false or misleading information on multiple occasions, from its initial license application through a subsequent inspection.

Separately, Singapore police charged former Hodlnaut CEO Zhu Juntao in May with six counts of fraud for allegedly misleading customers about the crypto lender’s exposure to the 2022 Terra ecosystem collapse.

Hodlnaut, a Singapore-based crypto lending platform that once served tens of thousands of users, suspended withdrawals in August 2022 following the Terra implosion and was later ordered to liquidate.

The regulator placed Binance.com on its Investor Alert List in 2021, The Straits Times reported at the time. However, a search on Wednesday of the list did not show any mention of Binance among 910 records in the query.

Related: Singapore Gulf Bank adds stablecoin mint and redeem for 24/7 settlement

Bitcoin pulled back from its weekly lows as traders returned to watch a busy U.S. macro calendar, with the Federal Reserve’s Wednesday interest-rate decision arriving shortly after the Wall Street open. Still, analysts say the rebound has struggled to build momentum, pointing to a lingering, very specific drag tied to Strategy’s Bitcoin position.

QCP Capital’s latest Market Color argues that, despite broader risk appetite improving, BTC has not been able to fully participate. The firm highlighted concerns that Strategy could be forced to sell additional Bitcoin to fund dividend obligations, even after recent balance-sheet actions that were intended to extend its liquidity runway.

Key takeaways

• BTC/USD rebounded after dipping to about $64,500 on Bitstamp ahead of the Federal Reserve meeting.
• QCP says BTC’s underperformance versus broader markets is linked to worries about further Strategy Bitcoin sales for dividend funding.
• QCP frames Fed chair Kevin Warsh’s first rate decision as unusually difficult given the tension between inflation concerns and rate-cut expectations.
• CME Group’s FedWatch Tool data shows traders pricing in no rate cuts at the Wednesday meeting, with markets increasingly focused on the possibility of hikes later in the year.

Strategy’s liquidity plans keep a lid on BTC strength

TradingView data cited in earlier coverage showed BTC/USD trending higher after the asset marked a new low for the week around $64,500 on Bitstamp. The bounce followed a period of caution as investors braced for volatility around the Federal Reserve’s announcement, scheduled for 2 p.m. Eastern time.

As Cointelegraph previously noted, major central-bank events often bring downside risk for Bitcoin in the short term. However, QCP’s analysis suggests the issue is not solely about the Fed headline. In its Market Color, the firm wrote that BTC remained trapped below the $66,000 area while broader markets traded up on optimism across multiple fronts.

“While broader markets continue to trade higher on optimism across multiple fronts, BTC remains stuck below the 66k level,” QCP wrote.

The clearest culprit in QCP’s assessment was Strategy. The firm said market worries center on whether Strategy may need to sell more Bitcoin to support dividend payments—particularly after the company had already bought back $1.5 billion of its 2029 Convertible Senior Notes.

“The underperformance has been driven in part by concerns that Strategy may need to sell more Bitcoin to fund dividend payments,” QCP added.

QCP also pointed out that Strategy has taken steps to extend its liquidity runway following prior BTC sales. The analysis referenced that the company “extended its runway” after selling 32 BTC in May, and suggested that these contingency measures can reduce the immediate pressure. Yet the market is still focused on what comes next.

In QCP’s view, the overhang could keep Bitcoin from fully tracking macro optimism in the near term. Over time, as Strategy continues issuing shares and lengthening its runway, it expects sentiment to potentially improve—but for now, the firm argued BTC still has a specific hurdle to clear.

“In the short term, we think this overhang may continue to prevent Bitcoin from fully participating in the broader macro optimism,” QCP wrote.

Warsh’s first Fed meeting becomes a test of how the market should price rates

While BTC traders looked to the Fed for direction, QCP placed equal weight on the significance of who is delivering the message. The firm emphasized that Kevin Warsh takes the stage at his first FOMC meeting as chair.

“Warsh takes the stage at his first Fed meeting as Chair today,” QCP said in its analysis.

QCP noted that expectations had previously positioned Warsh as relatively dovish and more inclined toward rate cuts. But the economic backdrop, the firm argued, has shifted materially—raising the likelihood that Warsh will need to navigate competing pressures.

According to QCP, the meeting represents more than just the rate decision itself, especially with Jerome Powell stepping out of the role. The firm described Warsh’s task as establishing buy-in from Powell and the broader board while also proving he can operate as a credible and independent chair.

“Today’s meeting will therefore be about more than the rate decision,” QCP wrote. “It will be Warsh’s first opportunity to secure buy-in from Powell and the rest of the Board, while establishing himself as a credible and independent Fed Chair.”

FedWatch pricing: no cut now, uncertainty remains toward year-end

Market pricing for Wednesday’s decision offers a clearer picture of what traders are bracing for. Data referenced from CME Group’s FedWatch Tool showed no odds of the FOMC cutting rates at the meeting.

At the same time, commentary in the source material suggested that investors are increasingly looking ahead to possible policy tightening later in the year. Andre Dragosch, European head of research at Bitwise, said markets were moving toward expectations of a rate hike by year-end, which he warned could weigh on crypto and other risk assets.

Dragosch also pointed to an open question that may matter as much as the current decision: whether Warsh will ultimately lean hawkish or dovish in the face of rising inflation. In a post on X, Dragosch said there was still “a lot of monetary policy uncertainty” around how Warsh would be categorized, despite the inflation backdrop.

What traders should watch next

With BTC tied to both macro expectations and Strategy-specific selling anxieties, the near-term signal may come less from price alone and more from confirmation on policy path pricing and any updated clarity around Strategy’s liquidity planning. Investors should watch the Fed’s language closely for clues on the trajectory of rates, while also monitoring whether Strategy’s funding approach continues to reduce—or reignites—concerns about additional Bitcoin sales.