Open Standard has announced the launch of Open USD (OUSD), a US dollar-pegged stablecoin designed to redirect reserve earnings back to token holders and participating businesses. The project is backed by a broad mix of established payments and major crypto firms, positioning it as a direct competitive bet against the two dominant stablecoins by market value: Tether’s USDT and Circle’s USDC.

In its announcement, Open Standard said more than 140 companies have joined the effort and that OUSD will allow businesses to mint the token “at no cost and with no artificial limits on volume,” while keeping earnings generated by its reserves. Open Standard also stated that OUSD is planned to launch “later this year.”

Key takeaways

• Open USD (OUSD) is structured around reserve earnings: Open Standard says holders and participants receive “all of the earnings” from token reserves.
• High-profile backers signal serious distribution ambitions: Visa, Mastercard, and crypto firms including Coinbase, Ripple, OKX, and Bybit are cited as supporters.
• Potential competitive pressure on USDT and USDC: the project is framed as having a chance to take market share from Tether and Circle’s stablecoins.
• Launch timing ties into a more stable US regulatory outlook: the broader industry expects implementation momentum as US stablecoin rules advance under the GENIUS Act framework.

Why reserve-revenue mechanics matter in stablecoins

The central design point in Open Standard’s Open USD pitch is economics rather than branding. By allowing participants to “receive all of the earnings” from OUSD reserves, the project aims to make stablecoin holding and usage more attractive to businesses that depend on dollar settlement, cross-border payments, or tokenized value transfer.

That matters because stablecoin users do not only care about price stability; they also care about incentives and who captures the value generated by reserve assets. Open Standard’s approach is intended to align reserve revenue with those who mint or hold the coin—an incentive that could differentiate OUSD in a market often perceived as dominated by a small number of issuers.

In commentary attached to the launch, Rhino.fi co-founder and CEO Will Harborne described the model as a potential route to “win share” from USDT and USDC, while also warning that the same incentive can drive fragmentation at scale.

Who’s behind Open USD, and what it signals

Open Standard’s notice lists support from major players across traditional payments and crypto markets. The backing includes financial-services companies such as Visa and Mastercard, alongside crypto firms including Coinbase, Ripple, OKX, and Bybit.

According to Open Standard, this coalition will make it easier for businesses to mint OUSD without costs and without “artificial limits on volume.” The stated goal is not just to launch a new token, but to build an ecosystem where businesses can integrate issuance and access reserve earnings incentives.

Investors and market participants will likely watch whether these partnerships translate into measurable adoption—particularly the volume of OUSD minted and held, and whether regulated on- and off-ramps support frictionless usage across major venues. In stablecoins, distribution often determines survivability as much as technical design.

USDT vs. USDC vs. OUSD: where the competitive pressure could land

Open Standard’s launch announcement explicitly positions OUSD as a challenger. The two leading stablecoins by market capitalization—USDT and USDC—have long served as primary on-ramps for dollar exposure in crypto markets.

The news also landed during a period of sensitivity around issuer performance. The article notes that Circle’s share price reportedly dropped by more than 16% on Tuesday to $63.63, reflecting how investors may react to perceived competitive threats or strategic shifts in the stablecoin landscape.

Circle’s CEO Jeremy Allaire addressed the competitive framing in an X post after the announcement, saying the company welcomed “continued innovation and competition in the space.” Allaire also stated that Circle would soon expand support for dollar-pegged and non-US dollar stablecoins—an acknowledgment that issuers are likely to keep broadening product offerings beyond a single US-dollar token.

Market-watchers should note that new stablecoin initiatives face a high bar: they need trust in reserve transparency and stability, liquidity across exchanges, and operational support for minting and redemption at scale. Open USD’s “reserve earnings” concept provides a clear incentive narrative, but adoption will ultimately depend on how quickly integrations broaden and whether regulatory requirements are met in practice.

Regulation and market growth expectations in the background

Open Standard’s planned rollout is arriving amid a more constructive regulatory backdrop in the United States. The article points to the GENIUS Act—signed into law by President Donald Trump last year—which aims to create a regulatory framework for payment stablecoins. Many experts expect that the legislation will help clarify the path for implementation, potentially making it easier for companies to issue and accept digital assets tied to payments.

Industry growth projections underline why issuers are racing to secure positioning. DefiLlama data cited in the report estimates the stablecoin market at more than $312 billion today, with projections reaching up to $4 trillion by 2030. Those figures suggest that even incremental share gains from USDT and USDC—if OUSD achieves meaningful adoption—could represent material impact.

Still, OUSD’s effectiveness will depend on how regulatory implementation affects minting, custody, disclosures, and compliance processes for reserve-backed tokens. The more the framework supports stablecoin issuance and payment use cases, the more likely it is that initiatives like Open USD can convert partnerships into real-world usage.

For now, the key question for readers is straightforward: will Open USD’s reserve-revenue model and coalition backing translate into sustained minting and liquidity as the “later this year” launch approaches, and how quickly will US regulations and partner integrations enable broad, compliant deployment?

The researchers caution that AI adopters are not representative of the broader economy. Companies adopting AI were already larger, faster-growing, more technical and more likely to be venture-backed before deploying the technology, making simple comparisons with non-adopters misleading. To account for that, the study compares early adopters with similar firms that had not yet adopted AI rather than firms that never adopted it.

The report also found AI adoption remains concentrated in knowledge-intensive industries. Information companies posted the highest adoption rates, followed by finance and professional services, while sectors such as hospitality, arts and healthcare lagged significantly behind.

Ramp said its research is among the first to combine observed corporate AI spending with firm-level workforce records, allowing researchers to measure AI adoption based on actual purchases rather than surveys or occupational exposure estimates. The company defines adoption as three consecutive months of at least $100 in AI vendor spending, with adoption intensity measured by AI spend per employee during the first three months after deployment.

The authors say the results should not be interpreted as proof that AI causes hiring, but rather as evidence that firms making substantial, sustained AI investments are currently growing faster than comparable companies. They argue the findings suggest AI’s early economic impact may be less about replacing workers and more about enabling expansion at companies able to integrate the technology effectively.

Ethereum has remained under pressure near $1,560 as Robert Kiyosaki’s long-term $95,000 price forecast has returned to focus while the cryptocurrency continues testing a key support zone.

According to data from crypto.news, Ethereum (ETH) traded around $1,560 on June 30, down about 1% over the past day as selling returned across the crypto market. The total crypto market capitalization slipped 1% to $2.11 trillion, while Bitcoin fell 1.6% amid continued outflows from U.S. spot Bitcoin ETFs. XRP, Dogecoin, and Cardano also traded lower during the session.

The weakness comes despite renewed attention around comments made by Rich Dad Poor Dad author Robert Kiyosaki, whose March prediction that Ethereum could reach $95,000 by mid-2027 has resurfaced across crypto social media.

Kiyosaki argued that a major global financial crisis would trigger a sharp repricing of alternative assets, adding that Ethereum could climb to $95,000 within a year of such an event.

His outlook extended beyond Ethereum. Kiyosaki also projected Bitcoin could reach $750,000 after the same financial reset, while forecasting gold at $35,000 per ounce and silver at $200. Those projections have renewed debate over Ethereum’s long-term valuation even as its current market performance remains weak.

Institutional buying continues despite weak price action

Corporate treasury activity has continued to favor Ethereum even as the token struggles to recover.

Bitmine disclosed that it purchased another 27,084 ETH during the past week, increasing its holdings to roughly 5.7 million ETH valued at nearly $9 billion. According to the company, that represents approximately 4.7% of Ethereum’s circulating supply, with most of those holdings remaining staked.

SharpLink also expanded its position by acquiring another 10,000 ETH at an average purchase price of about $1,611. The company said its total holdings have reached 886,725 ETH after the purchase. During the same period, SharpLink repurchased 2.13 million shares and raised $75 million.

Even with treasury firms continuing to accumulate Ethereum, the token has failed to build sustained upside momentum. At current prices, ETH is down roughly 25% for the quarter and remains on track to record its third consecutive quarterly decline, which would be the first such streak in the asset’s history if the quarter closes at current levels.

Nasdaq has expanded its blockchain strategy by making its TotalView order book data available to blockchain applications through the Pyth Network.

According to Pyth, the collaboration gives blockchain applications and software platforms access to Nasdaq’s proprietary market data through a single integration, starting with the exchange’s TotalView feed.

The company said the service is designed for blockchain applications, digital asset exchanges, prediction markets, trading systems, and other software platforms that require direct access to institutional-grade market information.

Nasdaq TotalView provides full depth-of-book data by displaying every visible buy and sell order across all price levels, along with order imbalance information published around the opening and closing auctions. The feed is widely used by professional traders because it offers a detailed view of market liquidity beyond standard market quotes by exposing the complete order book.

What market data is becoming available onchain?

With Nasdaq joining the network, Pyth has added another traditional financial data publisher to its marketplace. According to Pyth, developers can now access first-party market data from multiple providers through a single connection instead of integrating each source separately.

Nasdaq joins several organizations already distributing data through Pyth, including Euronext, OTC Markets, Tradeweb, Kalshi, Exchange Data International, Singapore Exchange’s SGX FX, and the U.S. Department of Commerce.

The announcement adds another step to Nasdaq’s ongoing involvement in digital assets. Earlier this year, the exchange partnered with crypto exchange Kraken and tokenization infrastructure provider Backed to develop infrastructure connecting traditional equities with blockchain networks, continuing its work around tokenized financial assets.

Regulatory progress has also supported Nasdaq’s crypto product lineup. In April, the U.S. Securities and Exchange Commission approved Nasdaq’s proposal to list Bitcoin index options linked to the Nasdaq Bitcoin Index, although trading still requires approval from the Commodity Futures Trading Commission.

Nasdaq also partnered with CME Group to introduce cryptocurrency index futures tracking seven digital assets, including Bitcoin, Ether, Solana, and XRP.

How are traditional exchanges expanding into crypto?

Other exchange operators have also continued building products that combine traditional finance with digital assets. In May, Intercontinental Exchange, the parent company of the New York Stock Exchange, partnered with crypto exchange OKX to introduce perpetual futures tied to its Brent crude and West Texas Intermediate oil benchmarks. According to the companies, the contracts were the first products announced under their broader partnership.

Later, ICE Chief Executive Officer Jeffrey Sprecher urged regulators to allow traditional exchanges to offer 24/7 onchain perpetual futures, arguing that regulated venues should be permitted to compete with crypto-native platforms already providing similar products.

Nasdaq has also remained active across other digital asset initiatives. As previously reported by crypto.news, Celsius-linked Ionic Digital recently applied for a direct listing on the Nasdaq Global Select Market under the ticker IOND.

According to the company’s SEC filing, existing registered shareholders may sell up to 10.8 million shares once the registration statement becomes effective, while Ionic will not receive any proceeds. The filing also showed the company is expanding beyond Bitcoin mining into high-performance computing and AI data center infrastructure.

Bitcoin Core has introduced version 31.1rc1 as a release candidate before the software reaches its stable mainnet release. The update improves privacy, strengthens network behavior, and adds several performance enhancements for node operators, wallet users, and developers. At the same time, the development team has opened the testing phase and encouraged community feedback before the final version becomes available.

Bitcoin Core 31.1rc1 Strengthens Privacy And Network Performance

Bitcoin Core 31.1rc1 represents the final testing stage before the next stable software release. The release candidate allows developers and community members to evaluate new features under real operating conditions. The testing process also helps identify remaining issues before the software reaches production.

The latest release addresses an important privacy issue affecting the PrivateBroadcast feature. Under specific network conditions, a user’s internet address could become visible instead of remaining behind the selected privacy network. The update removes that behavior and improves the reliability of private transaction broadcasting.

The networking layer also receives several refinements in this version. Bitcoin Core now handles proxy settings and private broadcast connections more efficiently during operation. As a result, users who rely on privacy tools receive more consistent network performance across supported environments.

Wallet And Validation Updates Improve Software Reliability

The new version also improves Bitcoin Core’s blockchain validation process. The software now manages transaction data more efficiently while maintaining a cleaner blockchain database. Consequently, these adjustments help reduce unnecessary storage growth over time and improve long-term system performance.

Wallet-related improvements also appear throughout the release candidate. Developers optimized wallet migration checks and refined transaction input size estimation during wallet operations. These changes improve accuracy while making wallet behavior more dependable across different usage scenarios.

Bitcoin Core also expands support for MuSig2 signature aggregation. The software now rejects empty public key lists that contain invalid public keys before aggregation begins. This validation step strengthens signature handling and reduces the possibility of incorrect aggregation during multi-signature operations.

Developers Open Public Testing Before Stable Release

Beyond user-facing changes, Bitcoin Core 31.1rc1 introduces several improvements for software developers. The release removes race conditions, improves fuzz testing, updates build systems, and cleans testing tools across the development environment. These changes support more stable software development and simplify future maintenance.

Developers also added checks for failed write operations before saving important configuration settings. This improvement helps prevent configuration errors caused by unsuccessful file operations during software updates. Therefore, users receive more reliable system behavior when changing or storing application settings.

Bitcoin Core 31.1rc1 supports the current versions of Linux, macOS, and Windows. Users can upgrade directly from recent releases, although much older versions may require additional migration time. Since this remains a release candidate, the development team encourages widespread testing and bug reporting before the stable release enters the Bitcoin network.

Bitcoin Core follows a release candidate process before introducing major software updates to the broader network. This approach allows developers to verify new features under real-world conditions while reducing the likelihood that undiscovered issues reach production systems. Community testing also provides practical feedback that supports software stability, improves compatibility across supported platforms, and strengthens future releases before they become part of the standard Bitcoin Core distribution.

Bitcoin (BTC) fell toward $58,000 around Tuesday’s Wall Street open as the clock ticked down to a brutal quarterly close.

Key points:

• US stocks’ Q2 gains leave Bitcoin far behind as bulls nurse losses of nearly 20%.
• Bitcoin faces renewed pressure from the risk of Japanese government moves to support the yen.
• BTC price weakness is forcing capitulation by top buyers, says analysis.

Bitcoin “about to get spicy” amid 40-year dollar/yen high

Data from TradingView showed downside gaining the upper hand as volatility increased into the US session.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

With $60,000 increasingly looking lost as support, commentators saw the tussle between bulls and bears continuing on short time frames.

“Open Interest pumping, noticed some large longs entering on this dip, it’s about to get spicy,” commentator Exitpump wrote in fresh analysis on X.

BTC/USD order-book data. Source: Exitpump/X

Trader Killa eyed a repeat of weekly price patterns, in which Mondays formed the swing low or high of the following week.

“$BTC Keeps consolidating in this price range. Marginally higher lows and equal highs,” trader Daan Crypto Trades continued. 

“Look out for whichever direction breaks first, I think a quick move should follow after that seeing how compressed this is becoming.”

BTC/USDT perpetual contract one-hour chart. Source: Daan Crypto Trades/X

Bitcoin thus reinforced its divergence from US stocks with total Q2 losses nearing 20%.

By contrast, trading resource The Kobeissi Letter noted the S&P 500 was up 14% over the quarter, marking its best performance since 2020.

“This would mark the 2nd-largest quarterly gain since the 2008 Financial Crisis recovery,” it added in an X post alongside data from Bloomberg. 

“At the same time, the Nasdaq 100 is up +25%, on track for its strongest quarter in 5 years. This would also mark the Nasdaq 100’s 2nd-best quarterly performance in 25 years.”

US stocks performance comparison. Source: The Kobeissi Letter/X

Kobeissi described an “accelerating” global stocks rally, with the US providing the impetus. 

In a potential headwind for crypto, the US dollar hit new multidecade highs against the Japanese yen, increasing the odds of government intervention.

USD/JPY reached 162.50 on the day, its highest since the mid 1980s.

USD/JPY 12-month chart. Source: Cointelegraph/TradingView

“Whether it’s Japan, India, South Korea or MSTR, It’s the same problem,” analyst and YouTube personality George Gammon summarized to X followers on the day. 

“You’ve got dollar liabilities and not enough dollars. So you sell assets to get dollars putting downward pressure on the asset. Yen, Rupees, Won, or Bitcoin.”

Bitcoin hodlers “appear to be cutting losses”

In new research, onchain analytics platform CryptoQuant warned of a fresh round of Bitcoin investor “capitulation.”

Related: BTC price RSI prints key 2026 signal: Five things to know in Bitcoin this week

At sub-$70,000 levels, contributor Crypto Sunmoon warned that those who had bought BTC around all-time highs were now selling at a loss.

“Since the break below $70K, exchange inflows have risen sharply, with the majority of this volume consisting of coins held for roughly six to twelve months, coins most likely accumulated near the cycle highs,” they wrote in a Quicktake blog post. 

“This pattern is consistent with capitulation among cycle-top buyers, as holders appear to be cutting losses rather than continuing to hold through the drawdown.”

Source: CryptoQuant

CryptoQuant data showed onchain movements increasingly involving coins that last moved around all-time highs, along with increasing inflows to exchanges.

“For some, this will be a painful stretch. That said, capitulation events of this kind among cycle-top investors have historically coincided with long-term bottom formation, a pattern observed in both the 2018 and 2022 cycles,” Crypto Sunmoon added.

The project, supported by Visa, Mastercard and many crypto companies, could be in a position to challenge Tether’s USDT and Circle’s USDC, currently the two largest stablecoins by market capitalization.

More than 140 companies have signed onto a US dollar-pegged stablecoin project that allows them to “receive all of the earnings” from its reserves.

In a Tuesday notice, Open Standard said it was launching the Open USD (OUSD) stablecoin, a US dollar-pegged coin supported by financial companies including Visa and Mastercard, as well as crypto companies Coinbase, Ripple, OKX and Bybit. The project will allow businesses to mint OUSD “at no cost and with no artificial limits on volume,” and keep earnings from the coin’s reserves.

“When Visa, Stripe, Mastercard, Coinbase and Google coordinate on a new stablecoin, the signal is unmistakable,” said Rhino.fi co-founder and CEO Will Harborne. “Open USD is the first launch with a real chance to win share from USDT and USDC, because reserve revenue flows back to everyone who holds it. But that same incentive is what drives fragmentation at scale.”

Source: Open Standard

Because it’s backed by so many high profile companies, the coin could be in a position to challenge Tether’s USDT and Circle’s USDC, currently the two largest stablecoins by market capitalization. The share price of Circle Internet Group dropped by more than 16% on Tuesday to $63.63.

Related: Business use of stablecoins set for growth surge: Cybrid report

According to Open Standard, OUSD will launch “later this year.” The current size of the stablecoin market, according to DefiLlama, is more than $312 billion and projected to reach up to $4 trillion by 2030.

In a Tuesday X post following the announcement, Circle CEO Jeremy Allaire said that the company welcomed “continued innovation and competition in the space,” adding that it would soon expand support for US dollar-pegged and non-US dollar stablecoins. 

“[We] look forward to remaining laser-focused on building the best stablecoin infrastructure possible and driving more customer and partner success,” said Allaire.

Stablecoin launch comes under US law favorable to the industry

US President Donald Trump signed a bill to establish a regulatory framework for payment stablecoins, called the GENIUS Act, into law last year. Many experts expect that the legislation, awaiting federal authorities finalizing regulations for implementation, could pave the way for the stablecoin market to grow as companies potentially begin issuing and accepting digital assets more easily.

Magazine: Does ‘Paper Bitcoin’ mean there’s an unlimited supply of BTC?

The crypto industry has contributed $189 million to the 2026 U.S. election cycle so far, pushing political spending beyond 2024 levels months before voters head to the polls.

According to a report published Tuesday by consumer advocacy group Public Citizen, crypto companies now account for roughly 37% of all corporate political contributions made during the 2026 election cycle. The nonprofit estimated that the industry has spent about $189 million with more than four months remaining before the November election.

Public Citizen said much of that spending has come through crypto-backed political action committees. Fairshake alone has spent more than $82 million during the current cycle, while MAGA Inc., a Super PAC largely backed by Crypto.com, has spent more than $56 million.

The nonprofit argued that these organizations operate independently of traditional party priorities, supporting or opposing candidates from either major party depending on their policy positions. Public Citizen said this approach follows the same strategy used during the 2024 election cycle.

Ripple and Coinbase remain central to crypto political funding

Among the largest industry-backed groups, Fairshake and its affiliated committees, Defend American Jobs and Protect Progress, continue to receive support from cryptocurrency companies including Coinbase and Ripple. Public filings cited by Public Citizen showed the network held a combined $193 million war chest as of January.

The report also pointed to newer political organizations created after the 2024 elections, including Fellowship PAC, which is backed by Cantor Fitzgerald. Public Citizen said the combined spending by crypto-backed PACs has already surpassed the roughly $170 million contributed during the previous federal election cycle, when the industry supported candidates viewed as favorable to digital assets.

Interest in crypto policy has also expanded among voters. As crypto.news previously reported, a DCG-Harris Poll found that 40% of registered voters now consider cryptocurrency a major election issue, up from 20% in 2024. The survey questioned 1,874 registered voters between May 8 and May 18 and included oversamples across Arizona, Georgia, Michigan, Nevada, North Carolina, Ohio, Pennsylvania and Texas.

DCG said the findings indicate that more voters are paying attention to how candidates address digital asset policy as Congress continues debating new crypto legislation.

Crypto lobbying grows alongside CLARITY Act debate

Congressional efforts to establish a regulatory framework have unfolded alongside the industry’s growing political activity. The CLARITY Act remains under Senate consideration, with supporters arguing that the legislation would define oversight responsibilities for U.S. crypto markets.

Earlier reporting from crypto.news noted that Coinbase, Ripple and more than 200 cryptocurrency organizations urged Senate leaders to schedule a vote on the bill.

Separate reporting by crypto.news also stated that Galaxy Digital lowered its estimated probability of the CLARITY Act becoming law in 2026 to 50%, citing a tightening Senate calendar, limited floor time before the August recess, and a lack of visible progress in negotiations.

Political spending has also reached individual congressional races. Colorado voters headed to the polls Tuesday for primary elections, where Public Citizen highlighted activity in the state’s 8th Congressional District.

According to the report, the You Can Push Back Super PAC, backed by Ripple Labs co-founder Chris Larsen, spent $1 million on media supporting Democratic candidate Manny Rutinel. The committee’s previous major expenditure totaled $3.3 million in support of Democrat Alex Bores in New York’s 12th Congressional District. Bores lost his primary last week to Micah Lasher, who had criticized Larsen’s involvement in the race.