Crypto caught a modest bid on Thursday after Wednesday’s inflation report showed underlying price pressures staying contained. Bitcoin rose about 1.9% over 24 hours to roughly $62,600, leading the majors, per CoinDesk data.

Headline inflation rose 0.5% on the month and 4.2% over the year, the fastest annual pace since April 2023, but energy did most of the work, climbing 3.9% on the month and accounting for more than 60% of the increase as oil rose on the Iran conflict.

Core inflation, which strips out food and energy and is the gauge the Federal Reserve leans on, rose just 0.2% on the month, below the 0.3% forecast, and 2.9% over the year.

The bounce is shallow and concentrated in bitcoin. BTC is down less than 1% over the past seven days, holding its 200-week average, while the rest of the top tokens remain deep in the red on the week. Ether is off about 6.5% at roughly $1,651, XRP down 7.5% near $1.12, Solana down 7.4% around $65, and dogecoin off 7%. BNB held up better at a 2.1% weekly loss.

Traders now await Fed’s June 17 meeting, where markets expect no change to rates. The hot headline gives hawks cover to stay restrictive, while the soft core gives doves room to argue the pressure is narrow and energy-driven.

Another widely-cited catalyst is the public offering of Elon Musk-owned satellite, rockets and AI company SpaceX, which prices later Thursday and is expected to start trading on Friday at a $1.8 trillion valuation.

Shares for the company are already four times oversubscribed, with some singular entities bidding as much as $10 billion for the stock, per Bloomberg.

TLDR

• Anchorage submitted a public comment letter supporting Treasury’s GENIUS AML proposal.
• The firm backed classifying stablecoin issuers as financial institutions under the Bank Secrecy Act.
• Anchorage urged clarity on secondary-market sanctions liability tied to smart contract transactions.
• It argued issuers should not face strict liability for unknown sanctioned users on open networks.
• The proposal was issued jointly by FinCEN and the Office of Foreign Assets Control.

Anchorage Digital has backed the US Treasury’s proposed GENIUS AML framework while urging targeted clarifications. The federally chartered crypto bank submitted a public comment letter supporting core compliance provisions. However, it asked regulators to refine secondary-market sanctions exposure and enterprise-wide AML expectations.

Anchorage and GENIUS AML Framework Alignment

Anchorage stated that Treasury’s proposal places AML duties on regulated stablecoin issuers in a workable manner. The firm said the structure balances compliance standards with operational certainty for issuers. It added that clear rules will support payment innovation while maintaining oversight under existing law.

The letter responded to rules issued in April by the Treasury and the Financial Crimes Enforcement Network. The proposal would classify payment stablecoin issuers as financial institutions under the Bank Secrecy Act. As a result, issuers would face AML, customer due diligence, and suspicious activity reporting obligations.

Treasury’s Office of Foreign Assets Control joined FinCEN in issuing the proposed rule. The framework would align stablecoin issuers with US sanctions compliance standards. It would also impose enhanced monitoring and recordkeeping duties across issuer operations.

Anchorage wrote that “a final rule that is clear and workable gives regulated institutions the certainty they need to build.”

The firm said such clarity strengthens US leadership in payments and settlement infrastructure. It therefore endorsed the proposal’s general direction while requesting precise adjustments.

Secondary-Market Sanctions and Compliance Scope

Anchorage urged Treasury to clarify liability tied to secondary-market transactions on public blockchains. It argued that issuers should not bear strict liability for unknown sanctioned users. The firm said smart contract interactions may occur without issuer knowledge or direct customer relationships.

Anchorage stated that issuers cannot independently identify all sanctioned actors transacting through open networks. It therefore asked regulators to define limits around secondary-market sanctions exposure. The letter also sought guidance on enterprise-wide AML programs and correspondent account requirements.

The firm requested clarity on how AML obligations apply across affiliated entities. It asked Treasury to outline expectations for correspondent relationships under the proposed framework. According to the letter, defined boundaries would reduce uncertainty for regulated institutions.

Support for the GENIUS AML proposal has varied across the crypto industry. Hyperliquid and Paradigm also submitted a joint comment letter addressing similar concerns. However, they expressed a more critical view of the sanctions perimeter.

The groups argued that OFAC’s draft language extends issuer liability beyond practical visibility. They said the framework treats smart contract use as an ongoing service provision.

“OFAC sweeps secondary market activity into the issuer’s compliance perimeter,” the letter stated.

They added that the draft could impose sanctions duties without direct user relationships. The comment letter said issuers may lack visibility into parties transacting on secondary markets. Treasury has not yet issued a final rule following the April proposal.

Crypto has moved deeper into the 2026 election debate after a new DCG-Harris Poll showed rising voter interest in digital asset policy. 

The survey found that 40% of voters now view crypto as a major election issue, up from 20% in 2024.

The poll surveyed 1,874 registered voters from May 8 to May 18. It also included oversamples in Arizona, Georgia, Michigan, Nevada, North Carolina, Ohio, Pennsylvania and Texas.

Crypto support doubles ahead of midterms

DCG said the results show a larger voter bloc watching how candidates discuss digital assets. The company released the findings as Congress debates major crypto rules, including the CLARITY Act.

Julie Stitzel, DCG’s chief policy officer, said voter interest already exists across key races. “Candidates who champion digital asset policy and financial privacy don’t have to look far for voter support. It’s already there,” she said.

Privacy becomes a central voter issue

The survey found that 84% of Americans believe individuals, not companies, should own their personal data. DCG said the result links digital asset policy with wider concerns about financial privacy and data control.

The poll also found that 55% of registered voters are more likely to use a service that does not use their personal data. That finding places privacy near the center of the crypto policy debate, especially as AI and digital finance expand.

Congress faces pressure over crypto rules

The timing matters because lawmakers are still debating how to regulate digital assets. The CLARITY Act has become one of the main bills under review, with supporters saying it would define oversight roles for crypto markets.

As previously reported by crypto.news, Coinbase, Ripple and more than 200 crypto groups urged Senate leaders to schedule a vote on the bill. Other reports said Galaxy Digital lowered its 2026 approval odds to 60% as the Senate calendar tightens before the August recess.

Polling shows mixed voter signals

The DCG poll points to stronger crypto interest, but other surveys show the issue still competes with broader economic concerns. A previous crypto.news report cited a Politico and Public First survey that found only 4% of Americans said a candidate’s crypto stance would shape their vote.

Pew Research Center data also showed that 19% of U.S. adults have used or invested in cryptocurrency. Republican usage rose from 16% in 2021 to 22% in 2026, while overall adoption stayed close to earlier levels.

Crypto-backed political spending adds another layer to the election debate. As crypto.news reported, Fairshake-linked groups have already spent millions in primaries as digital asset policy becomes a sharper dividing line in Congress.

Amazon has expanded its trucking service to businesses beyond its own logistics network.

The move sent shares of several major freight carriers lower on Wednesday. The company will now offer less-than-truckload shipping to businesses across the United States.

Amazon opens LTL service to more businesses

Amazon said it will offer less-than-truckload shipping to all businesses through Amazon Supply Chain Services. The service previously supported companies shipping goods into Amazon warehouses and fulfillment centers.

Less-than-truckload shipping lets carriers move freight from several customers on one trailer. The model differs from full truckload shipping, where one customer fills the trailer. Amazon said the service can deliver freight to any destination in the United States. The company is using its logistics network to reach more business customers.

Jim Ruiz, director of Amazon Freight, said sellers wanted wider access to the service. “The feedback from Amazon selling partners using our LTL service was clear,” Ruiz said. He said customers valued the service’s technology, visibility, and reliability. “Now Amazon LTL can move your freight wherever it needs to go,” Ruiz added.

Freight carrier shares fall after announcement

Freight stocks declined after Amazon announced the expanded trucking service. Old Dominion Freight Line fell 5% after the news. ArcBest shares dropped 4%, while Saia slid 3%. XPO Logistics also fell 5% during the market reaction.

FedEx Freight shares fell about 7% on Wednesday. The company started trading earlier this month after its spinout from FedEx. The share declines came as Amazon moved deeper into a market served by long-standing carriers. The company’s freight offer now targets businesses of different sizes.

Amazon has spent years building a large logistics network for its own retail operations. It now uses more of that network to serve outside companies. The company reduced its reliance on external carriers as it pushed faster delivery speeds. That strategy gave Amazon more control over shipping times and costs.

The logistics network becomes an outside service

Amazon’s logistics system now includes cargo planes, delivery vans, trailers, and containers. The company has 80,000 trailers and 24,000 containers in its freight operation. Its network also includes tens of thousands of delivery vans. Amazon-branded cargo planes support longer-distance movement across its supply chain.

The company has started opening more in-house logistics tools to outside businesses. That approach adds competition for carriers that already serve business shippers. Last month, Amazon introduced an end-to-end supply chain service. The package combines several of its freight and logistics services into one offering.

That announcement pushed shares of UPS and FedEx lower at the time. Wednesday’s LTL expansion added another freight service to Amazon’s outside-business program. Amazon said the LTL service will support destinations nationwide. The company’s latest move extends Amazon Supply Chain Services beyond warehouse-bound shipments.

Bitwise Chief Investment Officer Matt Hougan said financial advisors are still interested in crypto, but their focus is moving beyond Bitcoin. 

His view came after eight sales calls with teams representing more than 40 advisors in one day.

Hougan wrote in a June 10 memo that advisors asked more about stablecoins and tokenization than Bitcoin. The shift suggests that professional investors are paying closer attention to crypto uses in payments, markets and real-world assets.

Advisors remain active despite the market pullback

Hougan said the main message from the meetings was that advisors have not left crypto during the bear market. He said new crypto cycles have often needed both new products and new investor groups.

“The fact that they remain interested despite the pullback is good news,” Hougan wrote. He said financial advisors and institutions could become the next investor class to support wider crypto adoption.

Bitwise has tracked this interest for months. Its 2026 Bitwise/VettaFi survey found that 56% of advisors owned crypto personally, while 42% could buy crypto in client accounts. Hougan added that advisors manage more than $175 trillion, making their access and product choices important for future crypto flows.

Stablecoins and tokenization lead the discussion

Hougan said Bitcoin has often led crypto recoveries because it is the largest and most established asset. He also said prices around $60,000 looked attractive for long-term investors.

Still, he said advisors showed more curiosity about practical crypto use. “Their eyes are on stablecoins and tokenization more than bitcoin,” Hougan wrote in the memo.

He linked the shift to weaker interest in the fiat debasement trade and stronger public discussion around on-chain finance. Hougan cited comments from SEC Chair Paul Atkins, Goldman Sachs CEO David Solomon and BlackRock CEO Larry Fink on stablecoins and tokenization. The memo did not say advisors have abandoned Bitcoin. It described a change in conversation.

Broader adoption themes

As previously reported by crypto.news, stablecoins have become a larger part of digital payments. Fiat-backed stablecoin supply crossed $319 billion in April 2026, while adjusted transaction volume reached $10.9 trillion in 2025.

Separately, as crypto.news reported, tokenized real-world assets crossed $29 billion by April 2026. Tokenized U.S. Treasuries grew from $380 million in 2023 to $13.4 billion by April 2026.

Hougan said future advisor inflows may first target assets tied to stablecoins and tokenization. He named Ethereum, Solana, Canton, Chainlink and Avalanche as assets raised during the meetings.

He also pointed to Hyperliquid and companies such as Figure, Circle and Coinbase. According to Hougan, advisors now have a broader view of crypto than they had two years ago.

Delaware and New Jersey have advanced bills that would ban crypto ATMs as lawmakers respond to rising scam complaints tied to the machines. 

The moves place both states closer to Indiana, Tennessee and Minnesota, which have already passed total bans.

The push follows new FBI data on crypto kiosks. The agency reported 13,460 complaints in 2025 and more than $388.9m in losses, with people over 50 accounting for more than half of complaints.

Delaware bill would remove crypto ATMs

The Delaware House Economic Committee advanced House Bill 441 on June 9. The bill would ban the ownership, installation and operation of cryptocurrency kiosks across the state.

The proposal would require existing machines to go offline and be physically removed within 90 days after the law takes effect. It also blocks retail point-of-sale or cashier-assisted crypto sales that copy a kiosk.

Representative Cyndie Romer, who sponsored the measure, said crypto ATMs carry high costs and expose residents to fraud. “These kiosks reduce digital currency to a predatory cash grab,” Romer said.

The bill treats violations as unlawful trade practices. Operators could face penalties of up to $10,000, while illegal fees may need to be refunded to users or paid into Delaware’s Consumer Protection Fund.

New Jersey sends ban bill to full Senate

New Jersey’s Senate Commerce Committee advanced Senate Bill 2141 on June 8. The measure would ban businesses from owning, controlling, installing, managing, selling or offering crypto ATMs in the state.

The bill defines crypto ATMs as internet-connected kiosks that let users buy, sell, send or receive digital assets through cash, debit cards or credit cards. Lawmakers linked the proposal to scams involving fake government officials, tech support schemes and bank impersonation.

New Jersey’s measure carries a penalty of up to $10,000 for a first offense. Later violations could bring penalties of up to $20,000, along with other consumer fraud remedies.

The bill would take effect on the first day of the sixth month after enactment. It now awaits action in the full Senate after clearing committee without opposition.

Crypto ATM pressure grows across markets

The bills add to broader pressure on crypto ATM operators in the United States and abroad. Indiana signed the first statewide total ban in March, followed by Tennessee in April and Minnesota in May.

As previously reported by crypto.news, Canada has also moved toward a nationwide crypto ATM ban over fraud concerns. Separate reporting noted that Bitcoin Depot filed for Chapter 11 bankruptcy after facing regulatory pressure, falling revenue and security issues.

Crypto ATM operators have argued that they should not be blamed for crimes carried out by outside scammers. Some operators have added on-screen warnings, identity checks and transaction limits.

Lawmakers in Delaware and New Jersey have taken a different path. Their bills seek to remove the machines rather than regulate them, making crypto ATM bans a growing consumer protection response in 2026.

XRP managed to hold the $1.10 area, which matters after last week’s sharp breakdown, but the recovery still looks tentative. Institutional money continues flowing into XRP-linked products and futures activity has picked up sharply, yet price remains pinned near multi-month lows while bitcoin and the broader market recover more aggressively.

News Background

• XRP-linked investment products attracted another $6.75 million in inflows, lifting cumulative ETF inflows to roughly $1.44 billion.

• The XRP Ledger’s version 3.2.0 upgrade is scheduled for June 15 and is expected to reduce server memory requirements by around 40% while rebranding the core software from “rippled” to “xrpld.”

• Futures activity surged to roughly $5 billion during the session, even as open interest remained near cycle lows, suggesting traders are actively repositioning rather than building long-term conviction.

Price Action Summary

• XRP gained about 1% during the 24-hour session, climbing to $1.1141 after recovering from lows near $1.11.

• The strongest move came late in the session when heavy volume pushed price through resistance around $1.1114 and briefly lifted XRP above $1.12.

• Earlier attempts to rally were rejected near $1.1352, leaving that level as the clearest near-term resistance zone.

Technical Analysis

• The most important takeaway is that XRP remains weak relative to the broader market. While the token posted a small gain, it underperformed major crypto benchmarks by nearly two percentage points.

• The late-session breakout above $1.11 was constructive, but it happened within a much larger downtrend that remains intact.

• Futures markets are sending mixed signals. Rising volume points to renewed trader interest, while subdued open interest suggests many participants are still reducing risk rather than aggressively adding exposure.

• XRP remains below its 50-day, 100-day and 200-day moving averages, meaning the broader technical structure continues to favor sellers despite signs of stabilization.

What traders should watch

• $1.10 remains the key support level. Holding above it keeps the recent stabilization attempt intact.

• $1.12-$1.13 is the first resistance zone, followed by $1.1352 where the latest rally stalled.

• A move above $1.26 would begin repairing the chart meaningfully and shift focus back toward the $1.30-$1.40 region.

• If XRP loses $1.05-$1.10 support, traders are likely to start discussing a move toward the psychologically important $1.00 level again.