Ripple has expanded access to its RLUSD stablecoin across more than 40 blockchain networks through a new integration with cross-chain interoperability protocol Wormhole.

According to Wormhole, RLUSD is now available through its Native Token Transfers (NTT) framework, allowing the stablecoin to move natively between supported blockchain ecosystems. The rollout extends RLUSD beyond its original availability on the XRP Ledger and Ethereum, bringing it to a range of networks that have adopted Wormhole’s infrastructure.

Among the newly supported chains are Ethereum layer-2 networks including Base, Ink, Optimism, and Unichain. The expansion also includes the XRP Ledger EVM sidechain, giving developers access to RLUSD through Ethereum-compatible tools while maintaining connectivity with the XRP Ledger ecosystem.

The move follows Ripple’s earlier plans to make RLUSD available on additional networks as part of its multichain strategy. Since launching in late 2024, the stablecoin has grown to more than $1.7 billion in market capitalization, making it one of the largest dollar-backed stablecoins in the market.

RLUSD expands support for payments and tokenized assets

Ripple said the Wormhole integration allows RLUSD to move across multiple blockchain environments without relying on wrapped versions of the asset. According to the company, the setup is designed to support cross-border payments, institutional on- and off-ramp services, and tokenization-related activities.

“For developers and institutions building onchain, that expands access to compliant, USD-backed liquidity across supported networks.”

The company has increasingly positioned RLUSD as infrastructure for both crypto-native and traditional financial use cases.

Recent partnerships indicate that the strategy is extending beyond blockchain networks. As crypto.news reported earlier this week, the company made the stablecoin available to institutional users in Türkiye through partnerships with BiLira, Bitexen, and Bitlo. According to Ripple, the collaborations provide Turkish institutions with access to RLUSD for payments, settlement, and other financial use cases.

Academic initiatives have also become part of the rollout. Ripple recently added Istanbul Technical University to its University Blockchain Research Initiative, a program that will support blockchain research, graduate fellowships, and academic projects using RLUSD.

XRP Ledger ecosystem gains another RLUSD use case

Alongside the Wormhole integration, RippleX highlighted the significance of RLUSD becoming available on the XRP Ledger EVM sidechain.

According to the XRPL development team, the sidechain combines compatibility with existing Ethereum development tools while remaining connected to the XRP Ledger.

RippleX said growing RLUSD adoption across smart contract networks points to increasing demand for regulated stablecoins within decentralized finance and multichain financial applications. The team added that XRP can serve alongside RLUSD in functions such as liquidity provision, settlement, collateral management, payments, and asset swaps.

Outside of the stablecoin rollout, Ripple-backed Evernorth Holdings has outlined plans to incorporate RLUSD into its proposed XRP-focused treasury business. Regulatory filings show the company intends to use RLUSD for institutional decentralized finance activities while also supporting tokenized real-world asset initiatives on the XRP Ledger.

The stablecoin’s adoption has also expanded into payments infrastructure. Ripple recently noted that Mastercard launched 24/7 settlement capabilities using RLUSD on the XRP Ledger, adding another use case as the company continues to extend the stablecoin across blockchain networks and financial services platforms.

Russia has sanctioned 17-year-old British student Alexander Browder after his crypto research helped UK officials target a ruble-backed stablecoin network accused of moving funds for Moscow’s war economy.

TASS, Russia’s state news agency, reported Tuesday that Browder was one of five British citizens added to Moscow’s “stop list” after Russia accused them of spreading what its Foreign Ministry called false claims about the country.

Russia targets teen researcher after A7A5 probe

Browder, the son of Kremlin critic Sir Bill Browder, spent 18 months studying A7A5, a ruble-pegged stablecoin issued by Kyrgyzstan-based Old Vector and hosted on the Tron and Ethereum blockchains. According to his Global Cryptocurrency Laundering Database website, his work appeared in a Henry Jackson Society report titled “Confronting the Illicit-Finance Hydra in Crypto Markets,” which reviewed 164 crypto laundering cases across two decades.

The teenager also advised UK ministers before Britain announced fresh sanctions on entities tied to A7A5. In comments to Metro, Browder said the Russian sanctions did not intimidate him and argued that Moscow’s response showed his work had “touched a nerve.” On X, he described himself as the first high school student sanctioned by an authoritarian government for exposing corruption.

UK says A7A5 helped bypass Western sanctions

According to a May 26 UK Foreign Office statement, A7A5 formed part of a network built to bypass Western sanctions and processed more than $90 billion in transactions last year. Foreign Secretary Yvette Cooper said Britain was targeting the “infrastructure that underpins” Russia’s war economy.

Browder’s research estimated that rogue states, including Iran and North Korea, laundered about $350 billion in illegal funds, with roughly half allegedly moving through the A7A5 network. Elliptic, a blockchain analytics firm, reported in January that A7A5 handled more than $100 billion in transactions during its first year.

Western governments expand crypto sanctions

Britain’s May 26 designations targeted 18 entities linked to the alleged network. According to the UK government, the list included a Kyrgyz bank suspected of enabling payments and a crypto exchange accused of sending more than $1.5 billion to Moscow.

At the same time, European authorities have also moved against Russia-linked crypto services. In April, the European Union introduced its 20th sanctions package and banned Russia-based crypto service providers. The EU package, also named A7A5 and another ruble-backed stablecoin, RUBx.

Reuters reported last month that Kyrgyzstan shut down 50 companies over sanctions-evasion concerns. Kyrgyzstan’s Ministry of Justice said the firms posed “high sanctions risk,” but it did not publicly name them.

Moscow adds four other Britons to the stop list

Besides Browder, TASS identified the sanctioned British citizens as Washington Post journalist Catherine Belton, CTG managing director Alice Mary Laugher, Chelsea Group founder Richard Nicolas Westbury, and The i Paper journalist Richard Holmes.

Russia’s Foreign Ministry said the list would keep expanding in response to what it called unfriendly actions by British authorities. Browder told GB News that Moscow’s move could make people more afraid to work with A7A5, although he tied that outcome to how strongly governments enforce the sanctions.

Bitcoin has seen its network use fall to its weakest level in more than seven years as selling pressure and lower on-chain activity weigh on market confidence.

Bitcoin Magazine data showed that the 60-day moving average of active Bitcoin addresses stood slightly above 600,000 on June 4. The reading placed Bitcoin’s address activity near levels last seen during the 2019 bear market, according to the same data.

Bitcoin active addresses return to 2019 levels

According to Bitcoin Magazine, the decline in active addresses has continued since the end of the 2021 bull market. The data showed a steady drop in wallet activity over several years, even as Bitcoin became more accessible through regulated investment products.

Spot Bitcoin exchange-traded funds changed how many investors gain exposure to BTC. After the products received approval, some investors moved toward ETF shares instead of direct on-chain transactions, according to the report. These products offered regulated access and deeper trading liquidity, which reduced the need for some investors to move Bitcoin across the network.

At the same time, Bitcoin has faced stronger competition from other layer-one networks. Ethereum, Solana, and Tron have continued to host stablecoin payments and frequent settlement activity, while Bitcoin remains mostly used as a store-of-value asset.

The report also linked part of the decline to the Genius Act, a U.S. law signed in July 2025 that created federal rules for stablecoin issuers. After the law took effect, institutional stablecoin activity expanded across chains built for faster and cheaper payments.

According to the report, more firms have used Ethereum, Solana, and Tron for stablecoin transfers, while Bitcoin has seen less frequent transactional demand. The trend has added pressure to Bitcoin’s active-address count, which remains one of the key measures used to track network participation.

BTC price slides as sentiment weakens

Bitcoin traded near $63,950 at the time of reporting, down more than 26% since the start of the year. The decline has kept market attention on the February 2026 support area, where traders previously watched for buyer interest.

As previously reported by crypto.news, Bitcoin had rebounded from an intraday low near $61,500 after weaker-than-expected U.S. labor market data raised expectations that the Federal Reserve could still cut interest rates later in 2026.

The U.S. Department of Labor reported that initial jobless claims for the week ended May 30 rose by 13,000 to 225,000. Economists had expected 215,000 claims, while the prior week’s reading was revised higher to 212,000.

Labor data offers limited relief

Additional Labor Department figures showed final labor costs rose 1.8% in the first quarter, below economists’ estimate of 2.5%. Continuing jobless claims fell by 8,000 to 1.777 million for the week ended May 23.

Market participants often view weaker labor data as supportive for risk assets because it can give the Federal Reserve more room to lower interest rates if economic conditions soften further.

However, the report warned that Bitcoin’s network activity may remain under pressure if capital continues moving into artificial intelligence-related stocks. A recovery in active addresses could support bullish sentiment, but Bitcoin’s current on-chain data shows participation remains weak compared with previous market cycles.

The chances of passing the CLARITY Act this year have narrowed as lawmakers face a crowded legislative calendar and unresolved disputes over key provisions, according to JPMorgan analysts.

According to a report from JPMorgan analysts led by Nikolaos Panigirtzoglou, political timing is becoming one of the biggest obstacles to the crypto market structure bill. The analysts said the approach to the 2026 U.S. midterm elections is reducing the time available for Congress to advance major digital asset legislation, raising the possibility that market structure reforms could be delayed.

The CLARITY Act would establish a federal framework for regulating digital assets and divide oversight responsibilities between the Securities and Exchange Commission and the Commodity Futures Trading Commission.

Although the legislation recently advanced to the Senate calendar, several steps remain before it can become law, including Senate approval, reconciliation with House legislation, and a signature from President Donald Trump.

Adding to the uncertainty, JPMorgan said the final shape of the legislation could depend heavily on political developments over the coming months. The analysts noted that a bill negotiated before the midterm elections could look substantially different from one considered afterward, particularly if control of Congress changes.

Stablecoin provisions remain a sticking point

Alongside concerns over timing, disagreements surrounding stablecoin rules continue to weigh on the bill’s prospects.

In JPMorgan’s view, opposition from parts of the banking industry has intensified because of provisions dealing with stablecoin rewards and interest-like products. The analysts pointed to continuing debates over whether issuers should be allowed to provide returns on stablecoin balances without being subject to the same requirements that govern traditional banks.

Recent comments from banking executives have highlighted those concerns. JPMorgan Chief Executive Officer Jamie Dimon and New York Citi Bank Chairman and CFO David L. Cohen have both criticized aspects of the legislation, arguing that some provisions could create regulatory gaps.

During a CNBC interview, Dimon also criticized Coinbase Chief Executive Officer Brian Armstrong and claimed the legislation would allow crypto firms to offer products similar to bank deposits without equivalent protections. He further argued that the bill does not adequately address Anti-Money Laundering requirements or obligations under the Bank Secrecy Act.

Those claims were challenged by Senator Cynthia Lummis, chair of the Senate Banking Subcommittee on Digital Assets. Speaking to CNBC, Lummis said AML and Bank Secrecy Act requirements already apply to digital assets and are included in the legislation. She also accused Dimon of misrepresenting the legislation, saying the JPMorgan chief “either hasn’t read the bill or he wants to mislead people.”

Senate negotiations continue as August timeline emerges

While debate over stablecoins has attracted significant attention, lawmakers are still working through several other sections of the legislation.

Speaking with journalist Eleanor Terrett, Lummis said a Senate vote before the July 4 recess remains possible but suggested that action before the August recess is more likely.

According to Lummis, lawmakers must still combine provisions from the Senate Banking Committee, the Senate Agriculture Committee, ethics-related measures, and certain changes connected to the GENIUS Act before the final package is ready.

Developer protections have also become part of the negotiations. The Blockchain Regulatory Certainty Act language included within the CLARITY Act would shield developers of decentralized software from being treated as money transmitters when they do not take custody of customer funds.

Support for that provision has grown in recent weeks. Defend Developers recently launched a political action committee focused on supporting blockchain developers, decentralized finance builders, and software engineers.

Separately, the Blockchain Association said 160 former national security, intelligence, and law enforcement officials signed a letter urging Congress to move the legislation forward, describing digital asset regulation as a national security and law-enforcement priority.

Even with that support, Lummis acknowledged that securing the 60 votes needed for cloture and finalizing the legislative package could take longer than initially expected.

Professional ownership of US spot Bitcoin ETFs declined sharply in Q1 as Bitcoin’s bear market deepened, suggesting that trading-focused institutions were a meaningful source of selling during the downturn. A CoinShares analysis of quarterly 13F filings found that professional investors reduced Bitcoin ETF exposure to 261,000 BTC from 313,000 BTC, a 17% drop.

The combined value of those holdings fell 35% to $17.8 billion, and the share of total US Bitcoin ETF assets held by 13F filers slipped to 20.8% from 24.7%. “This dataset is consistent with what bitcoin markets have historically looked like in drawdowns,” CoinShares digital asset analyst Matt Kimmell wrote in the report, noting that leveraged and tactical strategies tend to unwind during downturns.

The selling was heavily concentrated among hedge funds and brokerages, which together accounted for roughly 96% of the reduction in exposure. Hedge funds cut their holdings by 31,400 BTC, a 39% retreat, while brokerages reduced exposure by 18,800 BTC, a 53% decline. In contrast, investment advisors—the largest professional cohort with 150,300 BTC in holdings—trimmed exposure by just 5.9%. Banks, meanwhile, added 7,800 BTC, effectively doubling their exposure for the quarter.

The decline in professional ownership coincided with a sharp price correction in Bitcoin. The asset fell about 22% in Q1, extending declines from late 2025 and briefly slipping below $60,000. At its trough, Bitcoin was down roughly 50% from its October 2025 all-time high above $126,000.

Key takeaways

• 13F-based professional exposure to US spot Bitcoin ETFs fell 17% in Q1 to 261,000 BTC; the dollar value dropped 35% to $17.8 billion; 13F filers’ share of ETF assets declined to 20.8% from 24.7%.
• Hedge funds and brokerages accounted for the vast majority of the reductions (about 96%); hedge funds down 39% (31,400 BTC) and brokerages down 53% (18,800 BTC).
• Investment advisors reduced exposure by 5.9%; banks added 7,800 BTC, roughly doubling their holdings.
• Bitcoin’s Q1 price move, down about 22%, aligned with a broader drawdown that began in 2025 and culminated in a roughly 50% peak-to-trough drop from the October 2025 high.
• Regulatory developments provided some optimism: clearer SEC-CFTC delineation and changes affecting retirement accounts were cited as potential long-term tailwinds, even as policy debates continue around the CLARITY Act and market structure logistics.
• Institutional sentiment showed signs of resilience, with traditional players like BlackRock acknowledging BTC’s potential role in diversified portfolios, signaling continued mainstreaming despite regulatory uncertainties.

Regulatory backdrop and what it could mean for markets

CoinShares framed the Q1 regulatory landscape as increasingly constructive for the digital asset ecosystem. The report notes progress toward clearer boundaries between the SEC and CFTC, along with proposals that would affect how digital assets are treated within retirement accounts. These strides arrive amid ongoing regulatory narratives about market structure and asset classification that could influence product design and institutional participation in the years ahead.

The regulatory drumbeat extended into ongoing agency planning. The U.S. Securities and Exchange Commission (SEC) has signaled digital assets as a strategic priority through 2030, with a draft strategic plan outlining an aim to build a firm regulatory foundation “through a rational, coherent, and principled approach.” This emphasis on clarity could reduce some of the overhang that has deterred more conservative institutions from deeper participation in crypto markets.

Industry sentiment and the path forward

Beyond policy, the report underscored a growing openness to Bitcoin among traditional financial institutions. Earlier this year, BlackRock acknowledged Bitcoin’s potential role in diversified portfolios, arguing that conventional stock-and-bond diversification models have become less reliable in post-2020 financial environments. That stance—if replicated by other mainstream asset managers—could translate into steadier demand for BTC exposure, even as the regulatory backdrop remains nuanced.

Yet the market remains shaped by policy debates. The CLARITY Act, a proposed framework intended to define the roles of the SEC and CFTC and to establish a more comprehensive regulatory environment for digital assets, continues to draw scrutiny from banks and industry participants. While some lawmakers anticipate a Senate floor vote as early as August, observers caution that legislative timing and compromise will significantly influence how quickly the sector can move toward clearer, codified rules.

For traders and investors, the Q1 data highlight a broader pattern: professional strategies—especially leveraged and tactical plays—tend to unwind during drawdowns, potentially amplifying short-term volatility while nonetheless signaling the sector’s path toward greater institutional integration if regulatory clarity accelerates.

Analysts and market watchers will be closely watching how 13F reporting evolves in the next quarter, how BTC price action behaves in a backdrop of evolving policy, and whether large incumbents continue to scale into Bitcoin amid ongoing regulatory debates. The interplay between price dynamics and policy clarity will likely shape both product development and institutional appetite in the near term.

Readers should monitor the CLARITY Act’s progression and the SEC’s 2030 strategic plan for more concrete signals about the regulatory environment. As traditional finance engages more deeply with Bitcoin, the coming quarters could reveal whether this period of consolidation among professional holders marks a pause before renewed accumulation or a longer-lasting reweighting of institutions’ crypto portfolios.

Investors will want to watch how regulators finalize responsibilities between the SEC and CFTC, how retirement-account treatment evolves, and whether support from major asset managers persists as the market seeks a clearer, more navigable framework for digital assets.

Apple has advanced plans to use Nvidia’s Blackwell B200 chips in Google data centers for its long-delayed Siri overhaul.

The Information reported that Apple plans to route cloud-based Siri requests through Google’s Nvidia-powered infrastructure after tests on its own Private Cloud Compute system failed to deliver the speed needed for the upgraded assistant. The report said Apple tried to run a modified version of Google’s Gemini model on its PCC servers, but the performance was too slow for practical use.

The expected announcement could come during Apple’s Worldwide Developers Conference keynote on June 8, where the company is also expected to preview iOS 27 and major Apple Intelligence updates. Yahoo Tech reported that the refreshed Siri could arrive for users in September alongside the iOS 27 release.

Apple turns to Google-hosted Nvidia chips

According to The Information, Apple will use Nvidia Blackwell B200 processors hosted inside Google’s data centers to support cloud-based Siri tasks. The move would place part of Siri’s AI workload on outside infrastructure, even though Apple has long preferred to control its hardware, software, and cloud systems.

At WWDC 2024, Apple senior vice president Craig Federighi said cloud-based Apple Intelligence tasks would run on Apple’s own servers through Private Cloud Compute. Apple described PCC as a privacy-focused system built on Mac-series chips that could process requests without storing user data or exposing it to outside parties.

Two years later, The Information’s report suggests Apple needs more powerful AI infrastructure to deliver the Siri features it first promised in 2024.

Privacy remains central to the rollout

MacRumors reported that Apple may keep the Private Cloud Compute name even if some Siri requests move through Google-hosted Nvidia hardware. The report said Apple plans to use Nvidia’s confidential computing technology to protect user data while it is processed in the cloud.

Nvidia says its confidential computing tools encrypt data during processing on supported hardware. For Apple, the feature could help answer privacy questions created by the use of third-party data centers.

The final structure of the system remains unclear, according to MacRumors, because Apple has not publicly explained how PCC branding would apply to Nvidia chips hosted by Google.

Siri overhaul follows years of delays

Yahoo Tech reported that the Siri update will be the assistant’s largest redesign since its 2011 launch. Apple first previewed several planned Siri features in 2024, including personal context awareness and the ability to understand what appears on a user’s iPhone or iPad screen.

The same report said Siri may also receive a dedicated app built to compete with ChatGPT, Claude, and other AI assistants. Yahoo Tech added that Apple plans to place Siri inside the iPhone’s Dynamic Island and let users swipe down from the middle of the screen to begin a conversation.

Nvidia gains another high-profile AI customer

The Information’s report also adds weight to a 2025 rumor that Apple had ordered 250 Nvidia NVL72 servers at about $4 million each. Nvidia introduced the Blackwell B200 architecture in 2024 for large language model training and inference.

Apple has not confirmed the reported arrangement. Still, the WWDC keynote on June 8 is expected to show how far the company has moved in rebuilding Siri after nearly two years of delays.

Kalshi has launched Ethereum perpetual futures in the United States after securing approval for the product, while proposed XRP and other altcoin contracts remain subject to separate regulatory review.

According to a June 4 announcement from Kalshi, the CFTC-regulated prediction market operator has opened trading for Ethereum perpetual futures, extending its push into crypto derivatives after introducing Bitcoin perpetual contracts last week.