Steil Proposes Congress Ban on Policy Prediction Bets Without White House Coverage
Wisconsin Representative Bryan Steil introduced the Stop Lawmakers from Predicting Act, with penalties of $2,000 or 10% of prohibited bets. The bill could bar members of Congress, their spouses, and dependent children from policy-aligned event contracts on platforms like Kalshi and Polymarket. The bill would take effect 180 days after enactment if Congress passes it and the president signs it, but it did not extend to White House officials.
JPMorgan Says Bitcoin Mining Costs Worsened as BTC Stays Below Production Cost
JPMorgan analysts said Bitcoin has traded below its estimated $78,000 all-in mining production cost for five straight months. The analysts said BTC traded near $63,000 during the current squeeze. Publicly traded miners sold a combined 32,000 BTC in Q1 2026 to fund operating expenses, according to TheEnergyMag data cited by JPMorgan.
Charles Schwab is partnering with Cboe Global Markets to launch event-based option contracts tied to the S&P 500 index. The product marks Charles Schwab's first entry into the prediction market. The product is scheduled to be offered within the next few months.
TD Cowen analysis said CME Group has a stronger legal position in its lawsuit against the CFTC over U.S. perpetual futures approval. Jaret Seiberg said the case may turn on whether perpetual futures can legally be classified as futures contracts.
TD Cowen said CME has the stronger legal case in its lawsuit against the CFTC over crypto perpetual futures. CME wants the court to vacate the CFTC's approval and treat similar perpetual contracts as swaps.
Users across X reported sharper ChatGPT and Codex outputs and unusually long response times this week. OpenAI has not announced GPT-5.6 plans, while a rumored formal release is expected next week.
Four analysts said AI can speed crypto and traditional market research but cannot make weak traders strong. Edwards said Capriole’s Macro Index combines more than 60 on-chain, macro, and equities metrics in a machine-learning model.
70% of Litecoin Nodes Still Miss Double-Spending Bug Patch
Less than 30% of tracked Litecoin nodes are running software that rejects the transactions behind April’s double-spending attempt. Roughly 39% of reachable nodes still run vulnerable Litecoin Core v0.21.4. Most mining Litecoin nodes have updated, while most validating nodes still use old code.
CryptoQuant said Bitcoin network activity reached its highest level since late 2024 and is about 7% below its September 2024 record. Bitcoin has fallen about 30% this year to below $65,000. Transactions under 0.01 BTC now make up about 80% of daily Bitcoin transaction counts.
Charles Schwab is partnering with Cboe Global Markets on yes-or-no options contracts tied to the S&P 500. The rollout to Schwab customers is expected in the coming months. Schwab and Cboe may also explore contracts tied to Cboe's Plus Zone feature.
Bitcoin traders expect BTC to retest its yearly low near $59,000 after a failed recovery attempt. CryptoQuant analyst Amr Taha said mid-sized Bitcoin investor inflows fell across Binance, Coinbase, and Coinbase Prime on June 19.
RAIN trades about 2.4% below its all-time high, while HYPE and ADI each trade about 13% below their records. The setups rely on Fibonacci levels, support zones, and stated catalysts tied to prediction-market demand.
Iran's Deputy Foreign Minister said a new mechanism will be adopted to manage the Strait of Hormuz in 60 days. A special initiative will also be proposed to countries in the region.
Crypto Biz's weekly roundup led with Nvidia's reportedly planned $20 billion bond sale for AI expansion. Other items included tokenized RWA assets surpassing $43 billion.
Nigel Farage faces a threatened referral to UK parliamentary authorities over an alleged under-declaration of Christopher Harborne’s private jet donation. Anna Turley claimed the Chagos Islands trip should have cost between £189,000 and £529,000.
Strive Blames Leverage Unwind as SATA and Strategy’s STRC Fall Below Par
Strive CEO Matt Cole blamed a leverage liquidation event after SATA and Strategy’s STRC closed at $97.71 and $88.59. Both products are designed to trade around $100 per share. Strive Chief Risk Officer Jeff Walton said the products saw $153 million and $941 million in trading volume, respectively.
CLARITY Act Reaches Senate Calendar as 60-Vote Threshold Looms
The CLARITY Act sits on the Senate Legislative Calendar as Calendar No. 423, with 60 votes needed to clear cloture. House Agriculture digital-assets subcommittee chair Dusty Johnson said Thursday the House will move fast if the Senate clears the bill before the August recess. Republicans hold roughly 53 seats, leaving the framework about seven Democratic votes short even with full Republican unity.
CME Plans CFTC Lawsuit Over Crypto Perpetual Futures Approval
CME Group plans to sue the CFTC over crypto perpetual futures approvals after spending eight months preparing the challenge with its board. Terrence Duffy said the case could be filed as soon as Thursday and would argue that perpetual contracts should be regulated as swaps under the Dodd-Frank Act. The dispute targets Kalshi's Bitcoin-linked BTCPERP approval and a parallel action clearing Coinbase to route U.S. customers to Deribit.
STRC traded as low as $82.61 on June 18 before recovering to $88.59, nearly 17% below its $100 stated amount at the intraday low. Strategy’s 11.5% annualized dividend rate implies about $1.21 billion in STRC-only annual dividend costs. Strategy disclosed a 32 BTC sale and later bought 1,550 BTC, bringing total holdings to 845,256 BTC as of June 7.
Trump Frames Iran Deal as White House Pushes Victory Narrative
U.S. and Iran leaders signed a memorandum of understanding on June 17, and both countries are framing the deal as a victory. Analysts believe Iran gained the upper hand through sanctions relief and reconstruction funds. The U.S. secured the reopening of the Strait of Hormuz and concessions on Iran's nuclear program. The White House circulated talking points to allies to frame the agreement as a political win.
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