ChainGPT AI News

Bitcoin holders are sitting deeper in the red as on-chain metrics flag mounting resistance, according to CryptoQuant analysis. Quick take - CryptoQuant analyst Darkfost says Bitcoin’s True Market Mean (TMM) — a cost-basis measure for active, non-dormant coins — has risen to about $76,700, creating a focal resistance zone for the market. - At the same time, the Active Value to Investor Value (AVIV) ratio is around 0.8, implying active holders are carrying roughly a 20% average unrealized loss. - Bitcoin traded near $62,596 at the time of reporting (July 4), up 1.67% over 24 hours but still well below the TMM. What the metrics mean - TMM estimates the average acquisition cost of actively traded Bitcoin by excluding long-dormant and likely lost coins. Because it reflects the cost basis of the coins most likely to move, it can act as a meaningful resistance level: Darkfost notes the market hit a similar price area in May and many holders sold at break-even. - AVIV compares market value to active investors’ cost basis. An AVIV around 0.8 puts BTC in a “valuation discount zone,” per Darkfost, meaning the average active investor is underwater by about 20%. By comparison, previous bear-market lows pushed AVIV to roughly 0.5–0.6, correlating with average losses of 40–50%. Implications and outlook - While the current readings show widespread unrealized losses, they aren’t at the historical extremes seen in past bottoms. Darkfost argues Bitcoin may not need to revisit those deeper discounts to recover, partly because adoption is stronger in this cycle. - He also cautions that increased institutional participation has not altered Bitcoin’s long-term cyclical behavior, so investors should remain vigilant even as capital inflows continue. Capital flows and market structure - CryptoQuant’s broader research signals a bigger hurdle for the next major rally: because market value is much larger now, more fresh capital will be needed. The firm estimates a shortfall of more than $1 trillion in additional capital might be required to fuel another large advance. - Since 2022, roughly $697 billion is estimated to have flowed into Bitcoin, producing gains of about 689% — substantial, but smaller relative returns than in earlier cycles. - Institutional demand has softened recently, with U.S. spot Bitcoin ETFs recording sustained net outflows, raising questions about how quickly fresh capital can return to sustain a new leg up. Corporate strategy and infrastructure - Corporate adoption continues to expand: the largest publicly traded corporate Bitcoin holder (with more than 847,000 BTC) is exploring ways to generate liquidity from its stash without selling. Industry players such as Galaxy Digital note options or conservative lending could provide recurring income while preserving long-term positions. - Beyond treasuries, blockchain payment rails and stablecoins are drawing interest from companies building AI systems. Participants argue autonomous AI agents will likely need programmable payment networks for machine-to-machine transactions, though wide-scale use is likely several years away. Bottom line On-chain indicators show active Bitcoin holders under pressure and a clear resistance band near $76,700. Recovery hinges on whether capital — institutional or retail — returns fast enough to absorb supply at those levels, while corporate strategies and evolving blockchain payment use cases may provide structural support over the longer term. Read more AI-generated news on: undefined/news

Headline: Trump’s TRUMP memecoin paid him $636M while nearly 1M buyers lost $3.8B, blockchain analysis shows Summary: New blockchain analysis and Trump’s 2025 financial disclosure paint a stark picture: the Official Trump (TRUMP) memecoin generated roughly $636 million for Donald Trump, even as retail investors—almost one million wallets—suffered an estimated $3.81 billion in combined losses through the end of June. Key facts - Source: The New York Times report citing blockchain analytics firm Nansen and Trump’s 2025 financial disclosure. - Payout to Trump: The financial filing showed a $636 million payout tied specifically to the TRUMP memecoin and at least $1.4 billion in crypto-related income during the reporting period, largely from licensing deals and token sales by Trump-backed World Liberty Financial (WLFI). - Retail losses: Nansen found 988,905 wallets that bought TRUMP recorded cumulative losses of $3.81 billion (including realized and unrealized losses) through the end of June. - Concentration of gains: Fewer than 500,000 wallets captured roughly $4 billion in combined profits, with gains concentrated among early entrants and automated/experienced traders who were able to buy before price spikes and sell into retail demand. - Price collapse: TRUMP peaked at $75.35 and traded at about $1.76 on Friday—about a 97% drop from its all-time high, according to Nansen. - WLFI performance: Of 26,663 WLFI wallets Nansen tracked, about 85% were underwater, showing combined losses around $83 million versus roughly $23 million in profits. Nansen notes true losses are likely larger because many secondary-market trades aren’t publicly traceable. How Trump profited Nansen and the NYT say Trump benefited regardless of whether the token’s market price rose or fell because his venture generated revenue through transactions, licensing, and token sales tied to his brand. Trump promoted the memecoin heavily on Truth Social during its launch—announced three days before his January inauguration—urging supporters to buy. Voices from the market - A retail investor quoted by the NYT, Nicholas Pinto, said he put about $500,000 into TRUMP and lost roughly half, calling the project “almost a legal scam.” - White House spokeswoman Anna Kelly defended the activity, saying Trump had made the U.S. the “crypto capital of the world” and framed his actions as serving Americans’ interests. - Trump told CNBC he was not aware his crypto ventures had generated $1.4 billion but said he could determine the exact amount if he wanted, insisting there was nothing improper and that he had no plans to step away from crypto ventures. Regulatory and political fallout The disclosure has intensified scrutiny in Washington. Sen. Kirsten Gillibrand renewed calls for ethics rules to bar government officials and their spouses from creating or promoting crypto memecoins. Congress is also debating the CLARITY Act, with negotiators examining stablecoin yield rules, anti-money-laundering safeguards, and ethics provisions that could address conflicts tied to high-profile token promotions. Why it matters The TRUMP memecoin episode highlights how branded tokens and celebrity-backed crypto projects can create enormous windfalls for creators while exposing ordinary buyers to outsized downside—especially when early, sophisticated traders capture the lion’s share of gains. It also underscores growing calls for clearer ethics rules and regulatory guardrails around token launches tied to public figures. What to watch next - Any updates to Trump’s disclosures or additional blockchain forensic reports from firms like Nansen. - Congressional action on the CLARITY Act and proposed ethics restrictions targeting public officials’ crypto activities. - Further tracking of WLFI and TRUMP secondary-market activity, which could reveal larger untracked losses. Read more AI-generated news on: undefined/news

“Summer stock crash” is trending on Wall Street — and for once the phrase isn’t pure hyperbole. Record-high bullishness is colliding with several tangible market risks just as Q2 earnings season begins, and JPMorgan technical strategist Jason Hunter warns that collision could produce a meaningful correction. What’s fueling the nervousness - Sentiment is stretched: nearly 60% of S&P 500 names carry a Buy rating — the highest share on record — leaving little room for upside surprises. - Big-cap tech weakness: the Roundhill Magnificent Seven ETF fell about 9% in June, with steep drops in Amazon, Meta, Alphabet and Apple. Hunter says the divergence among the hyperscalers “is reminiscent of the 1999–2000 dynamic,” and he’s watching their charts for signs they can stabilize. As he put it, traders are “waiting to see if those stocks find some footing this summer and potentially reduce the risk that the market could face a sentiment and position driven setback into the fall.” - Industrial metals flashing warning signs: copper — long nicknamed “Doctor Copper” for its economic lead-indicator status — is on pace for a third straight weekly decline, even though it’s still up about 8% year-to-date. Hunter views a potential topping pattern in base metals as a second early risk, since their performance historically leads the global manufacturing cycle. Wall Street’s optimism may be a setup Creative Planning’s Charlie Bilello notes the surge in Buy ratings while Hold calls have fallen and Sell ratings barely budged. Analysts are looking for roughly 22% year-over-year S&P 500 EPS growth for Q2 — the highest estimate going into an earnings stretch since 2021. “When everyone is expecting good news, there’s less room for positive surprises,” Bilello warns, underlining how a high consensus raises the bar for companies. A split in views Not everyone expects a crash. Goldman Sachs’ Ben Snider argues that a solid macro backdrop and continued AI-driven spending could push earnings past that elevated hurdle and blunt downside risk. In short: strong fundamentals and AI investment could save the summer — unless corporate results disappoint. Why crypto traders should care Equities and crypto often move together in risk-on/risk-off cycles. A sentiment-driven equity correction that gets triggered by weak Q2 results, hyperscaler downdrafts, or fading commodity cues could quickly spill into digital assets as investors unwind risk exposure. That makes the next few weeks of corporate reports a critical watch window for both equity and crypto market participants. Bottom line The “summer stock crash” talk is more than chatter: stretched bullishness, wobbly mega-cap techs and a softening copper trade together form a plausible recipe for a correction if Q2 earnings disappoint. For now it’s a warning, not a fait accompli — but one that traders across asset classes are increasingly treating seriously. Read more AI-generated news on: undefined/news

The Major County Sheriffs of America (MCSA) has dropped its formal opposition to the decentralized finance (DeFi) protection in the CLARITY Act — marking a notable easing of a major law-enforcement hurdle for the U.S. crypto market-structure bill. What changed - In a letter to Senate Banking Committee Chair Tim Scott and Ranking Member Elizabeth Warren, the MCSA said it has moved from opposing the Blockchain Regulatory Certainty Act (Section 604 of the CLARITY Act) to a neutral position after “continued review” and recent discussions about how the provision would be interpreted and implemented. - The Blockchain Regulatory Certainty Act would shield software developers and infrastructure providers from criminal liability for crimes committed by users of decentralized platforms — as long as those providers do not control customer funds. Law-enforcement groups had warned the language could hamper investigations into illicit crypto activity. MCSA’s conditions - The sheriffs did not give unconditional support. They asked Congress to formally include state and local law enforcement in the Treasury study required under Section 309 and any advisory groups created by the law, arguing these agencies investigate most crypto-related crime and should help shape enforcement policy. - The MCSA also urged that any new federal framework be matched by funding and operational resources for state and local authorities tasked with enforcement. Other endorsements and political timeline - The National Organization of Black Law Enforcement Executives (NOBLE) has also signaled support for the CLARITY Act, saying it can enhance investigative capabilities while preserving existing criminal enforcement powers. - Senate timing shifted this week after Sen. Bill Hagerty outlined a revised schedule: final text of the CLARITY Act is expected to be released over the weekend, with floor debate slated for after lawmakers return from the July recess (around July 13). That replaced earlier expectations of a July 4 signing. Market and political outlook - Bloomberg Intelligence now estimates roughly a 60% chance the CLARITY Act will pass in July. - Prediction markets have turned more optimistic as well; Polymarket shows odds of President Trump signing the bill before year-end back above 50%. - Not all issues are resolved: Sen. Kirsten Gillibrand continues to push ethics provisions that would bar members of Congress and their spouses from issuing or promoting crypto assets — a point still under debate. Why it matters The MCSA’s shift removes one of the more consequential law-enforcement objections to the CLARITY Act and could smooth Senate negotiations — provided the bill’s interpretation, advisory roles, and funding for enforcement are clarified to lawmakers’ satisfaction. Read more AI-generated news on: undefined/news

Nigel Farage has been reported to Parliament’s standards watchdog amid allegations he lobbied the Bank of England on cryptocurrency policy in ways that could have benefited one of his biggest financial backers — a major investor in stablecoin issuer Tether. What’s been alleged - Labour MP Phil Brickell has asked Parliamentary Commissioner for Standards Daniel Greenberg to investigate whether the Reform UK leader breached rules by meeting Bank of England Governor Andrew Bailey after receiving substantial payments from businessman Christopher Harborne. - Parliamentary rules bar MPs from lobbying ministers or public officials on behalf of anyone who has paid them within the previous 12 months. The disputed meeting - The complaint centers on a private September 2025 meeting between Farage and Bailey. Farage reportedly pressed the Bank to abandon plans for a UK central bank digital currency (the so‑called “Britcoin”) and criticised proposed curbs on stablecoins. - Brickell says Farage publicly supported Tether, opposed a proposed £20,000 per‑person limit on stablecoin holdings, promised to challenge the Bank’s position, and later claimed he had persuaded the central bank to soften its approach. - Shortly after, the Bank of England scrapped the proposed £20,000 stablecoin limit — a change Farage had repeatedly called for. The Bank says the September meeting was part of routine engagement with political figures, that Bailey and Farage disagreed on a digital pound, and has not published minutes. Political follow‑up - Labour MP Joe Powell has separately written to Bailey seeking details of the private meeting, arguing decisions about the UK’s financial system should be made openly and in the public interest rather than in private talks that could advantage individual investors. Who stands to benefit - The focus on Tether matters to crypto markets: Christopher Harborne, a UK businessman based in Thailand, owns roughly 12% of Tether, the company behind the USDT stablecoin, and is high on the Sunday Times Rich List. - The Guardian reports Farage accepted an undeclared £5 million ($6.7m) gift from Harborne before standing in the July 2024 general election. Because Farage had not yet declared his candidacy, that payment was not registered with parliamentary authorities at the time. Greenberg is already investigating whether that £5m should have been declared. - Harborne later made two £25,000 donations to Farage in January 2025 and February 2026 to fund trips, and Reform UK reportedly received a further £15 million ($20.1m) from him. Responses and context - Farage and Harborne maintain the billionaire expected nothing in return; Farage has called the payment unconditional and a private matter, though his public explanations have varied over time. - Reform UK has dismissed the allegations as “utter rubbish,” while Labour says the situation demands proper scrutiny. - Farage has long been an outspoken pro‑crypto politician, advocating for a UK Bitcoin reserve and lower capital gains taxes on crypto investments. Why it matters for crypto The probe raises familiar but significant questions for the industry: how private donations and meetings with regulators can influence policy on digital assets and stablecoins, and whether such interactions are being conducted transparently and in the public interest. With Tether central to global stablecoin liquidity, any perception that policy was shaped to favour a major investor will draw close attention from regulators, politicians and the crypto market alike. Read more AI-generated news on: undefined/news

Will Bitcoin spike to six figures this year? The short answer: probably not — at least not by much. Market-implied odds put Bitcoin’s chance of hitting $100,000 this year at roughly 17%, and many 2026 forecasts lean bearish or neutral. Bitcoin has been trading in the $58,000–$62,000 band recently, far below its October peak near $126,000, and most models point to more sideways action before any decisive move. Where Bitcoin stands now - Bitcoin closed June around $60,000 after starting the year above $93,000 and posting a 21‑month low along the way. That leaves current forecasts starting from a relatively weak base. - July has historically been supportive: Bitcoin closed higher in 9 of the last 13 Julys, with an average return north of 7% — a seasonal pattern some traders are watching for a short-term lift. Key forces shaping the outlook Analysts repeatedly cite three factors driving the near-term picture: - Spot ETF flows: net outflows have pressured price momentum and keep investors cautious. - The U.S. dollar: a stronger dollar tends to weigh on crypto demand. - The Federal Reserve: muted forward guidance from the Fed leaves markets guessing on policy direction. Institutional views: mixed signals Wall Street remains split. Standard Chartered still expects $100,000 by year-end and sees current weakness as a potential buying opportunity if ETF selling eases. Citi moved the other way, lowering its 12‑month target from $143,000 to $82,000, pointing to ETF outflows, softer investor demand, and slow U.S. regulatory progress as reasons for the downgrade. Depending on which desk you read, the near-term Bitcoin forecast can look very different. What analysts are saying - James Butterfill, head of research at CoinShares: “More constructive price action likely occurring in the second half of the year.” Many institutional analysts share the view that the first half of 2026 was a rebuilding period rather than a lost year. - Iliya Kalchev, analyst at Nexo, is more optimistic: if financial conditions loosen — via easier policy, a softer dollar, or renewed liquidity — Bitcoin could revisit and even exceed prior highs. For that to happen, long-term holders would need to stop selling, institutional demand would need to remain steady, and the Fed would have to pivot toward friendlier rates. The downside case There’s a credible bearish scenario too. If the Fed stays hawkish, the dollar strengthens further, and ETF outflows persist, Bitcoin could slide toward technical support in the $53,000–$57,000 range. The market will be closely watching the Fed’s late‑July meeting for any hints; there are no fresh economic projections due before September, which leaves a degree of uncertainty. Bottom line Bitcoin’s path for the remainder of the year hinges on a handful of triggers: a softer Fed, renewed ETF inflows, and tangible progress on U.S. crypto legislation. Absent one of those developments, the consensus view — reflected in prediction markets and many institutional forecasts — is for more range-bound trading rather than a rapid dash to $100,000. Plenty of analysts still hope for a larger move before year-end, but for now, the safer bet is sideways action until one of the key catalysts changes the narrative. Read more AI-generated news on: undefined/news

Revolut to remove Tether’s USDT for many European users as MiCA rules bite Revolut has told affected customers it will phase out support for Tether’s USDT from eligible European accounts as the EU’s Markets in Crypto‑Assets (MiCA) rules come into force. The fintech giant is giving users a window to act — but the timeline is tight. Key dates and actions - Customers can buy USDT on Revolut until July 6. - New USDT deposits will be blocked starting July 30. - Users have until Aug. 31 at 12:00 PM GMT to sell, withdraw, or transfer USDT to supported external wallets. - After that deadline, any remaining USDT balances in eligible Revolut accounts will be automatically converted to the account’s base currency at the prevailing market price, per Revolut’s delisting policy. Revolut has notified impacted customers via app push notifications and email, and clarified the delisting applies only to users who received these notices. Jurisdictions where Revolut continues to support USDT will not be affected. Why this is happening Revolut linked the move directly to MiCA, the EU’s new regulatory framework that, as of July 1, imposes licensing, reserve, disclosure, and supervision requirements on stablecoin issuers and crypto service providers operating in the bloc. Tether’s USDT has not been authorized under MiCA, and Revolut joins other platforms that have started restricting EU access to the stablecoin because it lacks the required authorization. Tether has pushed back. CEO Paolo Ardoino has argued MiCA’s reserve-related rules don’t fit the design of the world’s largest stablecoin, raising concerns about reserve composition, liquidity management, and redemption mechanisms. Regulatory scrutiny beyond MiCA MiCA isn’t the only regulatory pressure Tether faces. Following an OFAC update on July 1, Tether froze USDT balances in 131 wallets on the TRON blockchain after the U.S. Treasury’s Office of Foreign Assets Control added 134 crypto wallet identifiers (131 TRON and three Monero addresses) tied to ISIS‑K to its sanctions list. While that action is separate from MiCA, it underscored Tether’s capacity to freeze tokens in response to law enforcement and sanctions activity — a point of practical relevance for custodial platforms and users. What this means for users and the market Revolut’s decision highlights how MiCA is already reshaping which stablecoins European customers can access. For users holding USDT on Revolut, the immediate priorities are to sell, withdraw, or move balances before the Aug. 31 cutoff, or accept automatic conversion to their account currency. For the broader market, expect continued fragmentation as platforms reassess which tokens they can legally support across jurisdictions under new regulatory regimes. Read more AI-generated news on: undefined/news

DZ Bank rolls out crypto trading to millions via Germany’s cooperative banks Germany’s DZ Bank is bringing cryptocurrency trading into the mainstream by enabling retail customers at cooperative banks to buy and sell digital assets through their regular bank accounts. Bloomberg reports the new service—built on a platform developed by DZ Bank—is already being rolled out and supports major coins such as Bitcoin, Ethereum, Litecoin and Cardano. How it works - Participating cooperative banks can offer crypto trading directly within their existing online and mobile banking channels, so customers don’t need separate exchange accounts. - Each cooperative bank decides independently whether to activate the service for its clients; DZ Bank says interest from member institutions has been strong and expects hundreds of banks to add the offering over time. Bank-led expansion across German retail banking The move reflects a broader shift in Germany’s banking sector, where institutions that long avoided retail crypto services—citing volatility and investor-protection concerns—are now integrating digital-asset access. DekaBank is launching a comparable platform for Germany’s savings banks, with a staged rollout planned later this year as individual savings banks opt in. Why banks are moving in Supporters argue the bank-centric approach fits consumer preferences: Bloomberg-cited survey data show Germans trust their primary bank more than twice as much as dedicated crypto trading platforms. Banks also see crypto as a way to attract younger customers who expect investment products inside digital banking apps, and to keep pace as cryptocurrencies move further into mainstream finance. Risk warnings and regulatory caution Despite growing availability, academics and banking groups continue to emphasize that cryptocurrencies are highly speculative and can lead to significant losses. Germany’s savings banks association has stressed that crypto trading through banks is aimed at self-directed investors who understand those risks and are prepared to trade without advice. Tax landscape and policy changes The expansion comes amid potential changes to Germany’s tax treatment of crypto. Finance Minister Lars Klingbeil said during the 2027 federal budget presentation that the government plans to “tax cryptocurrencies differently” as part of measures intended to raise roughly €2 billion and strengthen efforts against financial and tax crime. Under current rules, private crypto profits are generally taxed if assets are sold within one year of purchase; assets held longer than 12 months are usually exempt from capital gains tax—a policy that has made Germany relatively attractive to long-term crypto holders. Bottom line By embedding crypto trading into traditional banking channels, Germany’s cooperative and savings banks are lowering the friction for retail adoption while retaining established trust relationships. The rollout is optional for member banks and carries cautionary guidance about risk and investor suitability, but its scale could substantially broaden consumer access to digital assets across the country. Read more AI-generated news on: undefined/news

India has launched a criminal probe after reports that Indian nationals were trafficked to cyber scam compounds near the Thailand–Myanmar border and forced to run online investment and cryptocurrency fraud operations. What happened Maharashtra police say they registered a case after the wife of a 24-year-old man reported that her husband — who answered a social-media ad for a graphic-design and data-entry role in Thailand paying about Rs 70,000 (roughly $815) a month — was instead taken to a compound on the Thailand–Myanmar border. Authorities allege his passport and travel documents were confiscated, he was made to work 16–18 hours a day on cyber fraud schemes, and that captives who refused orders were subjected to electric shocks and other abuse. The victim reportedly contacted family briefly before communications were cut off; he also claimed hundreds of other Indians were being held in similar compounds, a claim that has not been independently verified. Separate regional reports describe another Maharashtra resident who travelled for a call-centre job and remains trapped in a similar compound. Victims in these reports say they were forced into online investment and cryptocurrency scams — including creating fake social-media profiles to lure investors. One family alleges captors demanded Rs 8 lakh (about $9,300) to secure a relative’s release. State authorities said efforts to bring those trapped home are under way. Official response Because the case appears to involve an overseas trafficking network, India’s Ministry of External Affairs has been informed and central agencies are assisting the Maharashtra investigation. India has carried out previous rescues: earlier this year more than 120 nationals were repatriated from cyber scam centres in Myanmar, with additional operations conducted the prior year. Regional pattern and enforcement The allegations feed into growing concern about organised criminal networks operating from compounds across Myanmar, Cambodia, Laos and neighbouring countries. Reports say these groups recruit via fake overseas job offers for IT, customer support, digital marketing and data-entry roles, confiscate passports on arrival, and coerce recruits into running online fraud and crypto scams. Governments and regulators are increasingly taking action. In May, the U.S. Treasury’s Office of Foreign Assets Control sanctioned a Myanmar militia, its leader and senior members, alleging they facilitated cyber scam syndicates, cryptocurrency-related fraud, human trafficking and cross-border smuggling. The Treasury has noted U.S. victims lost more than $2 billion to crypto-related fraud in 2022 and more than $3.5 billion in 2023. The FBI’s latest Internet Crime Report puts crypto-linked losses even higher, reporting $11.4 billion in overall cryptocurrency-related losses and saying many illicit networks operate from Southeast Asian compounds. Myanmar’s military has also proposed harsher domestic penalties: a draft Anti-Online Scam Bill published in May would impose prison terms of 10 years to life for operating online scam centres or committing digital-currency fraud, and it allows capital punishment for operators who use violence, torture, unlawful detention or cruel treatment to force people into scams. What it means for crypto users These developments underscore the human and criminal infrastructure behind many crypto investment scams. Law enforcement and diplomatic channels are stepping up, but victims and jobseekers remain vulnerable to trafficking via fraudulent job listings. The investigations could increase scrutiny on crypto platforms and payment flows tied to such networks, and may lead to further sanctions and cross-border enforcement efforts as governments try to disrupt the compound-based fraud model. Read more AI-generated news on: undefined/news

Headline: Blockchain forensics show Trump’s TRUMP memecoin paid him $636M while nearly 1M buyers lost $3.8B Summary: New analysis tying blockchain data to President Donald Trump’s financial disclosures reveals stark winners and losers from the Official Trump (TRUMP) memecoin. Analytics firm Nansen and reporting by The New York Times show Trump’s operation generated hundreds of millions for him and affiliates while most retail buyers suffered heavy losses. Key facts and findings - Trump payout: Trump’s 2025 financial disclosure lists a $636 million payout connected to the TRUMP memecoin. The filing also reports at least $1.4 billion in crypto-related income during the reporting period, largely from licensing tied to the memecoin and token sales by Trump-backed World Liberty Financial (WLFI). - Buyer losses: Nansen reports 988,905 wallets that bought TRUMP had cumulative losses of $3.81 billion through the end of June. That figure includes both realized and unrealized (paper) losses. - Price collapse: TRUMP traded around $1.76 on the Friday cited—about 97% below its all-time high of $75.35. - Profit concentration: Fewer than 500,000 wallets produced roughly $4 billion in combined profits, with gains heavily concentrated among early entrants, automated traders and experienced crypto participants who bought before and sold into retail demand. - Loss ratio: Nansen estimates roughly two out of every three wallets that bought TRUMP ended up losing money. - WLFI performance: Of 26,663 WLFI wallets tracked by Nansen, 85% were underwater—combined losses of about $83 million versus roughly $23 million in profits. Nansen cautioned actual losses may be higher because some exchange trades aren’t publicly traceable. How the structure favored organizers - The venture generated revenue for Trump regardless of the token’s direction because of transaction- and licensing-related income—meaning trading volume benefited the issuer even while late buyers lost value. - Trump actively promoted the memecoin on Truth Social, encouraging supporters to participate. He introduced TRUMP three days before his January inauguration and positioned it as a way for supporters to join his community. Voices from investors and officials - One investor, Nicholas Pinto, told The New York Times he invested roughly $500,000 and estimated he’d lost about half of that. Pinto called the project “almost a legal scam,” saying Trump’s public backing encouraged buyer confidence. - White House spokeswoman Anna Kelly told The New York Times that Trump had made the U.S. the “crypto capital of the world” and framed his actions as in the public interest. - In a CNBC interview, Trump said he was unaware that his crypto ventures had generated at least $1.4 billion, adding he could determine the exact amount if he wanted and asserting there was nothing improper about earning money from digital assets. He said he had no plans to distance himself or his family from their crypto businesses. Political fallout and regulatory attention - The disclosure has reignited ethics and regulatory debates in Washington. Sen. Kirsten Gillibrand renewed calls for rules to bar government officials and their spouses from creating or promoting crypto memecoins. - Congress is also considering the CLARITY Act, where negotiations include topics such as stablecoin yields, anti–money laundering safeguards and ethics provisions tied to crypto activity. Why it matters - The TRUMP memecoin case underscores how token launches with heavy promotion from public figures can funnel substantial revenue to founders and affiliates while exposing retail buyers to extreme downside. - It also highlights the intersection of crypto markets, political influence and the growing call for clearer ethics and regulatory guardrails. Read more AI-generated news on: undefined/news

Bitcoin holders are feeling the squeeze as a key on-chain gauge points to mounting pressure across the market. What’s happening - CryptoQuant analyst Darkfost says Bitcoin’s True Market Mean (TMM) — an on-chain indicator that estimates the average acquisition cost of actively traded BTC (it excludes long-dormant and likely-lost coins) — is sitting near $76,700. That level now functions as a meaningful resistance band because similar dynamics played out in May, when many holders sold at break-even as price approached that zone. - At press time on July 4, BTC was trading around $62,596 (up 1.67% in 24 hours), well below the TMM and leaving much of the active base underwater. How bad are unrealized losses? - Using the Active Value to Investor Value (AVIV) ratio — which compares market value to the cost basis of active holders — Darkfost calculates the metric around 0.8. That implies active investors are carrying an average unrealized loss of roughly 20%. - By comparison, previous bear-market troughs pushed AVIV down to roughly 0.5–0.6, corresponding to average losses of 40%–50%. Darkfost notes the market hasn’t reached those historical extremes this cycle, and stronger adoption could mean BTC doesn’t need to revisit those deep discounts before recovering. Still, he cautions that institutional inflows haven’t erased Bitcoin’s cyclical behavior. Capital needs for the next leg up - CryptoQuant also warned that because Bitcoin’s market capitalization is much larger now, another major rally could require more than $1 trillion in fresh capital. The firm estimates about $697 billion flowed into Bitcoin since 2022, yielding total gains of roughly 689% — a smaller cycle return than earlier years despite massive inflows. - Institutional demand looks soft in the near term: U.S. spot BTC ETFs have seen sustained net outflows recently, raising questions about whether new capital will return quickly enough to fuel a powerful advance. Corporate and infrastructure developments - Corporate interest in Bitcoin continues to grow. The article notes “Strategy,” described as the largest publicly traded corporate Bitcoin holder with more than 847,000 BTC, is exploring ways to extract liquidity from its holdings without selling. - Firms such as Galaxy Digital have floated conservative lending or options-based strategies as ways for corporate holders to generate recurring income while maintaining long-term positions. - Beyond treasuries, blockchain infrastructure is attracting attention from AI developers. Industry participants argue autonomous AI agents will likely need programmable payment rails; blockchain payment systems and stablecoins are often mentioned as natural candidates for machine-to-machine transactions, though broad adoption of such systems is still expected to take several years. Bottom line On-chain indicators show a meaningful chunk of active investors underwater and reveal a resistance band near $76,700 that could constrain near-term upside. While institutional and corporate activity continues to evolve, fresh capital requirements and ETF outflows complicate the path to a sustained rally. Observers say adoption is deeper this cycle, but cyclical risks remain — meaning caution is still warranted. Read more AI-generated news on: undefined/news

Major County Sheriffs drop formal opposition to DeFi carve‑out in CLARITY Act, shift to neutral stance The Major County Sheriffs of America (MCSA) has withdrawn its formal opposition to the decentralized finance (DeFi) provision in the CLARITY Act, stepping back from one of the bill’s most prominent law‑enforcement objections as Senate debate approaches. In a letter to Senate Banking Committee Chair Tim Scott and Ranking Member Elizabeth Warren, the MCSA said it moved from opposing the Blockchain Regulatory Certainty Act (Section 604 of the CLARITY Act) to a neutral position after “continued review” and recent discussions — including talks with the Trump administration — that clarified how officials expect the DeFi language to be interpreted and implemented if enacted. What the provision does - The Blockchain Regulatory Certainty Act would shield software developers and infrastructure providers from criminal liability for crimes committed by users on decentralized platforms, so long as those providers do not control customer funds. - Law‑enforcement groups had warned the language could hamper investigations into illicit crypto activity. MCSA’s caveats and asks Although the sheriffs ended their formal opposition, they did not endorse the provision outright. The MCSA asked Congress to: - Give state and local law‑enforcement a formal role in the Treasury study required under Section 309 of the CLARITY Act and any advisory groups established under the law. - Ensure that a new federal regulatory framework is paired with funding and operational resources for the state and local agencies that investigate the bulk of crypto‑related crime. Other law‑enforcement endorsements and the legislative clock - The National Organization of Black Law Enforcement Executives (NOBLE) has also voiced support for the CLARITY Act, saying it would bolster investigative capabilities while preserving criminal enforcement powers. - The Senate’s timeline shifted this week: Senator Bill Hagerty indicated the Senate would release the final text of the CLARITY Act this weekend, with floor debate likely resuming after lawmakers return from the July recess (now expected after July 13), replacing earlier expectations of a July 4 signing. Market odds and outstanding issues - Bloomberg Intelligence raised the estimated chance the CLARITY Act passes in July to roughly 60%. - Prediction markets are more optimistic too: Polymarket shows odds of President Trump signing the bill before year‑end back above 50% after a recent dip. - Not all hurdles are cleared — Senator Kirsten Gillibrand continues to push for an ethics provision that would bar members of Congress and their spouses from issuing or promoting crypto assets, keeping that debate alive as the Senate readies the bill. Why this matters The MCSA’s move reduces a notable law‑enforcement roadblock to the CLARITY Act and helps clarify how DeFi actors might be treated under U.S. law. However, the sheriffs’ requests for local involvement and funding underscore continuing tensions between shielding developers and enabling effective investigations. With the Senate preparing the bill text and floor action approaching, the balance between industry certainty, law‑enforcement needs, and congressional ethics remains central to the outcome. Read more AI-generated news on: undefined/news

Headline: Nigel Farage probed over alleged lobbying of Bank of England tied to major Tether investor Nigel Farage is under scrutiny after a Labour MP asked the UK Parliament’s standards watchdog to investigate whether the Reform UK leader lobbied the Bank of England on crypto policy in a way that could have benefited one of his biggest backers — a major investor in stablecoin issuer Tether. What’s alleged - Labour MP Phil Brickell has asked Parliamentary Commissioner for Standards Daniel Greenberg to examine whether Farage breached parliamentary rules by meeting Bank officials after receiving sizable financial support from British billionaire Christopher Harborne. - Parliamentary rules bar MPs from lobbying ministers or public officials on behalf of people who have paid them within the previous 12 months. - Brickell says Farage publicly backed Tether, criticized planned limits on stablecoins, and promised to challenge the Bank of England’s stance before a private meeting with Governor Andrew Bailey — later claiming he had persuaded the Bank to soften its approach. The meeting and policy moves - The complaint centers on a private September 2025 meeting between Farage and Bailey, during which Farage reportedly urged the Bank to abandon plans for a UK central bank digital currency (“Britcoin”). Farage has previously vowed he would rather go to prison than support a digital pound. - Within weeks, the Bank of England dropped a proposed £20,000 cap on individual stablecoin holdings — a limit Farage had publicly attacked. Farage has since asserted he influenced the decision. - The Bank of England says the September meeting was part of routine engagement with politicians, that the governor and Farage held different views on a digital pound, and it has not published minutes or further details. Money, donors and potential conflicts - The probe has a financial backdrop: Christopher Harborne, a British businessman based in Thailand who owns a reported 12% stake in Tether (issuer of USDT) and sits high on the Sunday Times Rich List, has been a major donor to Farage and Reform UK. - The Guardian reported Farage accepted an undeclared £5 million gift from Harborne before the July 2024 general election — a payment later questioned by Greenberg in a separate inquiry about whether it should have been declared. Because Farage had not yet declared candidacy at that time, the payment was not registered with parliamentary authorities. - Harborne also reportedly made two smaller £25,000 donations to Farage in January 2025 and February 2026 to fund trips to the US and the Chagos Islands, and gave Reform UK a further £15 million during the same period. - Brickell has argued the issue goes beyond crypto policy: should an MP who has received millions from one donor push policies that could raise the value of that donor’s investments? Political reactions and defenses - Farage and Harborne say the billionaire expected nothing in return; Farage has called the £5 million unconditional and a private matter, though explanations for the payment have shifted over time. - Reform UK rejected the lobbying allegations as “utter rubbish.” Labour says Farage is avoiding proper scrutiny. - Separately, Labour MP Joe Powell has written to Andrew Bailey seeking details of the September meeting, arguing that decisions shaping the UK’s financial system — including a digital pound — should be made transparently and in the public interest, not via private discussions that could advantage individual investors. Why crypto watchers should care - The inquiry touches on key tensions in UK crypto policy: the balance between private stakeholder engagement and transparent policymaking, the influence of wealthy donors with crypto exposure, and the future of a digital pound versus private stablecoin frameworks. - Farage has been a vocal supporter of digital assets, proposing a UK strategic Bitcoin reserve and urging tax relief for crypto investors — positions that make the allegations particularly salient to the crypto community. What happens next - Daniel Greenberg’s probe will determine whether parliamentary rules were breached. The outcome could have reputational and political ramifications for Farage and raise wider questions about donor influence over UK crypto regulation. Read more AI-generated news on: undefined/news

Revolut will remove Tether’s USDT from eligible European accounts as new EU crypto rules kick in under the Markets in Crypto-Assets (MiCA) regime. What’s happening and when - Revolut has notified affected users by email and in-app messages that it will phase out USDT over the coming months. - Customers can buy USDT only until July 6. - New USDT deposits will be blocked starting July 30. - Users may sell, withdraw, or transfer USDT to supported external wallets until Aug. 31, 12:00 PM GMT. - Any remaining USDT after that deadline will be automatically converted into the account’s base currency at the market price, per Revolut’s crypto delisting policy. Why Revolut is acting Revolut tied the decision to the EU’s MiCA framework, which came into force and began being enforced on July 1. MiCA requires stablecoin issuers and crypto-service providers operating in the bloc to meet licensing, reserve, disclosure, and supervisory standards. USDT has not received MiCA authorization, and several platforms — including Revolut — are restricting European access to the stablecoin rather than offer services that would not comply with the new rules. Tether’s response and the regulatory debate Tether has argued MiCA’s reserve and redemption requirements are not well suited to the world’s largest stablecoin. Paolo Ardoino, Tether’s CEO, has voiced concerns about MiCA’s rules on reserve composition, liquidity management, and redemption mechanics. Those disagreements have left USDT without MiCA clearance and exposed to delistings by EU-facing providers. Broader context: enforcement and freezes Separately, Tether recently froze USDT balances in 131 TRON wallets after the U.S. Treasury’s Office of Foreign Assets Control (OFAC) expanded sanctions related to ISIS-K on July 1. OFAC’s update added 134 crypto wallet identifiers — 131 on TRON and three Monero addresses — linked to the Islamic State Khorasan Province. While that sanctions action is distinct from MiCA, it highlights that Tether can—and does—freeze tokens in response to law enforcement and regulatory directives. What this means for users and the market Revolut’s delisting underscores how MiCA is already reshaping stablecoin availability in Europe: tokens that lack authorization face restricted access or removal. Affected users should move or convert USDT before Aug. 31 to avoid automatic conversion. The move also signals continued fragmentation between global stablecoin issuers, regional regulators, and service providers as the post-MiCA landscape takes shape. Read more AI-generated news on: undefined/news

DZ Bank is wiring crypto access into Germany’s retail banking network, bringing digital-asset trading to millions of customers through the country’s cooperative banks. What’s happening - DZ Bank has launched a crypto trading platform that participating Volksbanken and Raiffeisenbanken can embed in their existing retail banking apps and portals. The service lets customers buy and sell cryptocurrencies without leaving their primary bank. - The platform initially supports Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Cardano (ADA). - Participation is voluntary for each cooperative bank, but DZ Bank says interest has been strong: Bloomberg reports that “hundreds” of member institutions are expected to adopt the service over time, potentially opening crypto access to a large portion of Germany’s cooperative-banking customer base. Broader rollout and competition - DekaBank is building a similar solution for Germany’s savings banks, with a staged launch planned later this year as individual savings banks opt in. - The moves mark a shift in Germany’s banking sector, which long avoided retail crypto services over concerns about volatility and investor protection. Now, many banks see offering crypto alongside everyday banking as a way to retain and attract younger customers who expect investment options inside their banking apps. Why customers might prefer bank-led crypto - Supporters of the banking-led approach argue it lowers friction and increases trust: a Bloomberg-cited survey found German consumers trust their primary bank more than twice as much as dedicated crypto trading platforms. - Banks also hope bundled services (banking plus crypto) will make it easier for mainstream customers to experiment with digital assets under familiar interfaces. Regulatory and risk backdrop - Critics and academics continue to warn that cryptocurrencies are highly speculative and can cause significant losses. Industry groups and Germany’s savings banks association emphasize that bank-offered crypto trading is aimed only at self-directed customers who understand the risks; these services are being provided without investment advisory. - The banking rollout coincides with possible tax changes. Finance Minister Lars Klingbeil said during the April 29 presentation of Germany’s 2027 budget that the government plans to “tax cryptocurrencies differently” as part of measures projected to raise roughly €2 billion (~$2.3 billion) and to bolster efforts against financial and tax crime. - Under current German rules, crypto profits are typically taxed if assets are sold within one year of purchase; assets held longer than 12 months are generally exempt from capital gains tax — a policy that has made Germany relatively attractive for long-term crypto investors. Why it matters The move brings crypto trading into mainstream retail banking in Germany, potentially speeding retail adoption by lowering entry barriers and leveraging existing trust relationships. At the same time, it raises questions about consumer protection, suitability screening, and how forthcoming tax changes will affect investor behavior. As cooperative banks and savings banks roll out their offerings, watch for adoption rates, any safeguards banks put in place, and how regulators respond. Read more AI-generated news on: undefined/news

India launches probe after reports of Indians trafficked into Myanmar to run crypto scams Indian authorities have opened an investigation after reports that nationals were allegedly trafficked into Myanmar and forced to operate online investment and cryptocurrency scams from scam compounds along the Thailand–Myanmar border. Maharashtra police said they registered a criminal case after the wife of a 24-year-old man reported her husband had travelled to Bangkok for a graphic-design and data-entry job paying Rs 70,000 a month (about $815) in early June, but was instead moved to a cyber scam compound near the Thailand–Myanmar border. Investigators say his passport and travel documents were confiscated, he was forced to work 16–18 hours a day on fraud operations, and that those refusing orders faced electric shocks and other abuse. The victim allegedly managed to contact his family briefly before communications were cut off; police said he claimed hundreds of Indians were being held in similar compounds, a claim not independently verified. Regional outlets also reported a separate Maharashtra case in which a resident who accepted a call-centre job in Thailand—offering similar pay—was allegedly taken into Myanmar and forced to run online investment and cryptocurrency scams. Victims told investigators they were made to create fake social‑media profiles and solicit fraudulent investments. One family said captors demanded Rs 8 lakh (about $9,300) to arrange a release. The Ministry of External Affairs has been informed and central agencies are assisting state police in repatriation efforts. Context — organized networks, cross-border enforcement and crypto losses Reports point to an organised pattern: criminal groups recruit people through fake overseas job adverts for IT, customer support, digital marketing and data-entry roles; confine them in compounds across Myanmar, Cambodia, Laos and neighbouring states; confiscate travel documents; and coerce them into running online fraud and crypto-related schemes. The allegations come amid growing international enforcement. In May, the U.S. Treasury’s Office of Foreign Assets Control sanctioned a Myanmar militia, its leader and senior members for facilitating cyber scam syndicates, cryptocurrency-related fraud, human trafficking and cross-border smuggling. The Treasury noted U.S. victims lost more than $2 billion to crypto-related fraud in 2022 and more than $3.5 billion in 2023. Separately, the FBI’s latest Internet Crime Report put total losses tied to cryptocurrency schemes at more than half of an $11.4 billion tab for internet crime. Myanmar has also moved to legislate against such operations: a draft Anti‑Online Scam Bill published in May would prescribe prison terms from 10 years to life for operators of scam centres or digital currency fraud, and allows capital punishment for operators who use violence, torture, unlawful detention or cruel treatment to coerce victims. India has previously mounted rescue operations: earlier this year authorities repatriated more than 120 Indians from scam centres in Myanmar, with additional rescues carried out the prior year. Why this matters for crypto stakeholders These incidents underscore a persistent link between human trafficking, organised crime and crypto-enabled fraud. Operators in regional compounds often exploit cryptocurrencies as payment rails for scammed funds—complicating recovery and enforcement. The new Indian probe and rising cross‑border sanctions signal increased pressure on networks that rely on forced labour to run large-scale crypto investment and romance frauds. Authorities say efforts to bring the latest alleged victims home are underway; investigations are continuing. Read more AI-generated news on: undefined/news

Headline: Trump’s “Official Trump” memecoin paid him $636M while buyers lost $3.8B, blockchain data shows President Donald Trump’s Official Trump (TRUMP) memecoin generated a windfall for him even as nearly a million retail buyers suffered massive losses, according to newly analyzed blockchain data and his 2025 financial disclosure. Key figures - $636 million: payout to Trump tied to the TRUMP memecoin, disclosed in his 2025 financial filing. - $1.4 billion: at least this much in crypto-related income reported during the period, largely from licensing tied to the memecoin and token sales by Trump-backed World Liberty Financial (WLFI), per the disclosure. - 988,905 wallets: number of buyers Nansen identified as holding cumulative losses of $3.81 billion through the end of June (this includes both realized and unrealized losses). - $75.35 → ~$1.76: TRUMP’s all-time high price vs its trading price in late June — a roughly 97% decline. - Fewer than 500,000 wallets: the smaller cohort that captured roughly $4 billion in combined profits, with gains concentrated among early entrants and automated/experienced traders. - WLFI: Nansen tracked 26,663 WLFI wallets; about 85% were underwater, with combined losses near $83 million versus about $23 million in gains. What the data shows Blockchain analytics firm Nansen, cited by The New York Times, found that roughly two out of every three wallets that bought TRUMP were in the red by the end of June. The losses figure combines paper losses (tokens still held) and realized losses (tokens sold at a loss). Nansen’s analysis also suggests profits were heavily concentrated: a small group of early buyers and automated traders bought before price spikes and sold into retail demand, capturing the bulk of gains while later buyers absorbed the downside. How Trump profited Trump’s financial disclosure and reporting show he benefited even when the token’s market price fell. Much of his crypto income came from licensing deals connected to the memecoin and token sales tied to World Liberty Financial — revenue streams that generate money from transaction activity and licensing irrespective of short-term token price moves. The filing lists the $636 million payout specifically tied to TRUMP, and at least $1.4 billion in crypto-related income overall during the reporting window. Timeline and investor experience - Launch: Trump introduced the TRUMP memecoin on social media three days before his January inauguration, promoting it as a way for supporters to join his community. - After launch: Price spiked to an all-time high of $75.35, then collapsed; by late June the token traded near $1.76. - Retail pain: Nansen reports that most later buyers lost money, while early participants and professional traders realized large gains. One investor interviewed by The New York Times, Nicholas Pinto, said he put roughly $500,000 into TRUMP and had lost about half of it, calling the project “almost a legal scam.” Responses - White House spokeswoman Anna Kelly told The New York Times that Trump had made the United States the “crypto capital of the world” and framed his actions as in the public interest. - In a CNBC interview, Trump said he was unaware the ventures had generated at least $1.4 billion but added he could determine the exact amount if he wished, insisting there was nothing improper and that he has no plans to distance himself or his family from their crypto businesses. WLFI and tracing limits Nansen’s WLFI assessment found the majority of tracked WLFI wallets underwater, but it warned the true scale of losses may be higher because many secondary-market transactions on exchanges are not publicly traceable. Political fallout The disclosure has intensified debate in Washington. Sen. Kirsten Gillibrand renewed calls for ethics rules that would bar government officials and their spouses from creating or promoting crypto memecoins. Lawmakers are also negotiating the CLARITY Act, with discussions touching on stablecoin yields, anti-money-laundering safeguards and ethics provisions as Congress weighs how to regulate crypto more tightly. Bottom line Blockchain analytics and Trump’s own disclosure paint a stark picture: the TRUMP memecoin delivered substantial direct and licensing revenue to Trump while most retail participants — particularly those who bought after the early run-up — suffered heavy losses. The revelations have already fueled calls for new ethics rules and tighter crypto oversight in Congress. Read more AI-generated news on: undefined/news

Europe’s markets watchdog has put prediction-market operators on notice: your event contracts might already be regulated — and that could trigger a long-standing EU retail ban on binary options. On July 3, the European Securities and Markets Authority (ESMA) clarified that event-based contracts sold in the EU need to be reviewed under the Markets in Financial Instruments Directive II (MiFID II). If those contracts meet MiFID II’s definition of a financial instrument, ESMA says the EU’s 2018 retail restrictions on binary options would automatically apply. The statement doesn’t create new law; it simply interprets how existing rules may cover some prediction-market products now being promoted to European users. ESMA’s message is blunt: calling a product a “prediction market” or “event contract” isn’t enough to avoid financial regulation. Firms and national supervisors across the bloc must assess whether these contracts qualify as financial instruments — and if they do, binary options limits kick in without further rulemaking. Why this matters for crypto-focused platforms - Offshore operators such as Polymarket have drawn particular regulatory attention. Other notable players like Kalshi and Crypto.com are regulated by the U.S. Commodity Futures Trading Commission (CFTC) for their U.S. activities, but none of the major prediction-market platforms currently run a licensed business inside the EU. - ESMA’s clarification arrives amid rising enforcement and consumer-protection actions targeting prediction markets in Europe and beyond. Recent enforcement and warnings - Spain’s Ministry of Consumer Affairs temporarily blocked Kalshi and Polymarket on May 26, concluding the platforms lacked required gambling licenses under Spanish law. - On June 19, gambling regulators from nine European countries — including Belgium, France, Germany and Spain — issued a joint warning about unlicensed gambling websites operating across Europe, flagging consumer-protection concerns around major events such as the FIFA World Cup. - Outside Europe, the Kentucky government filed a lawsuit last month against Polymarket and Kalshi, alleging the platforms facilitate illegal sports betting in the state. - Polymarket has also faced accusations of deceptive advertising targeting U.S. users, ramping up scrutiny on the platform. What operators need to do ESMA’s guidance places clear responsibilities on any firm planning a European launch: they must determine both whether their products are financial instruments under MiFID II and whether national laws treat them as gambling. Failing to do so risks the kind of enforcement actions already seen in Spain and the coordinated warnings from national gambling authorities. Bottom line: ESMA hasn’t changed the rules, but it has sharpened the spotlight. For prediction-market operators, especially those in the crypto space considering EU expansion, the regulator’s clarification is a clear signal to do thorough legal homework — or face regulatory pushback. Read more AI-generated news on: undefined/news

Headline: Standard Chartered Among 57 Firms to Win MiCA Passport as ESMA Register Jumps to 300 The European crypto landscape just took a major regulatory step forward. The European Securities and Markets Authority (ESMA) has added 57 newly authorized crypto firms to its interim register, bringing the total number of MiCA-authorized crypto-asset service providers (CASPs) to 300 — up from 243 on June 26 — after a wave of approvals clustered around the July 1 Markets in Crypto-Assets (MiCA) deadline. Key winners and what they gained - Standard Chartered: The global bank secured MiCA authorization from Luxembourg’s regulator, the Commission de Surveillance du Secteur Financier (CSSF), on June 25. It also obtained an Electronic Money Institution (EMI) license, enabling it to use MiCA’s passporting mechanism to offer regulated crypto services across all 27 EU member states without needing separate approvals country-by-country. - FalconX: The institutional trading firm received authorization from Malta’s Financial Services Authority (MFSA) just ahead of the July 1 cutoff and was added to ESMA’s register. - Other notable additions: digital asset bank Sygnum Europe, Ronin EM, and CACEIS (the asset servicing arm owned by Crédit Agricole and Santander) were all included in the latest update. M&A and market moves - CACEIS is reportedly in exclusive talks to acquire French retail crypto platform Meria — a business with about 150,000 users and roughly €350 million in assets under management — after Meria secured MiCA CASP authorization in France. - Stripe-owned Bridge previously won both MiCA CASP authorization and an EMI license in Luxembourg, another example of non-bank players leveraging the passporting framework. Why this matters MiCA creates a single regulatory regime for exchanges, custody providers, portfolio managers and crypto-asset issuers across the EU. Under MiCA’s passport rules, authorization from one national regulator (for example, Luxembourg’s CSSF or Malta’s MFSA) grants access to customers across the entire bloc. The July 1, 2026 end of MiCA’s transitional period forced companies to either secure full authorization or halt onboarding and wind down regulated EU operations. ESMA’s updated register serves as the public record of who has completed that process. Market consequences Regulatory consolidation has already had immediate market effects. Notably, Tether’s $186 billion USDT lost a MiCA-compliant route to stay on regulated EU exchanges after the July 1 deadline. As a result, MiCA-authorized venues including Coinbase, Kraken and Crypto.com removed USDT trading for European users, removing the stablecoin from regulated order books in the EU despite its global scale. Takeaway for institutions For institutional investors and asset managers, ESMA’s expanding register now provides a single, verified reference for identifying regulated counterparties under the EU’s unified crypto framework. Passporting cuts red tape by reducing the need for firms to pursue separate national licenses — a structural change that is already reshaping where and how crypto services are offered in Europe. Read more AI-generated news on: undefined/news

Sen. Kirsten Gillibrand is pressing for a hardline ethics ban on lawmakers and their spouses issuing or promoting crypto memecoins after President Donald Trump’s recent financial disclosure revealed roughly $1.4 billion in crypto-related income for 2025 — a development she says underscores the need for conflict-of-interest rules tied to pending crypto legislation. “This is a commonsense requirement that should get broad bipartisan support – public officials and their spouses should not be issuing memecoins,” Gillibrand said in a Friday notice. “We cannot let self-dealing destroy an opportunity to strengthen consumer protections, crack down on illicit finance, and expand economic opportunity for the millions of Americans our financial system has left behind.” Gillibrand, who raised the ethics concern in a Bloomberg interview at Solana Accelerate in Miami, wants stronger ethics rules written into the CLARITY Act before the Senate moves forward. The bill, intended to create clearer rules for digital assets in the United States, is currently being negotiated in the Senate Banking Committee. Gillibrand said she is hopeful the measure can advance in the next two weeks but insisted Democrats want outstanding issues resolved first. Lawmakers’ talks on the CLARITY Act have centered on stablecoin yields, safeguards against illicit finance, and an ethics clause that would bar government officials from creating or promoting cryptocurrencies. The ethics debate intensified after Trump’s disclosure showed substantial crypto-related income tied to the president, prompting Democratic calls for enforceable limits on elected officials and their families profiting from assets they may influence through policy. Trump launched the TRUMP memecoin shortly before his second presidential inauguration; the token became one of the most-watched political crypto launches. According to the disclosure, the project generated about $1.4 billion in crypto-related income and produced hundreds of millions of dollars for entities linked to the Trump family, even as many retail buyers later suffered losses after the memecoin plunged from its peak. Trump has denied any wrongdoing, telling reporters the profits were not illegal, that outside investment groups manage his holdings, and that rising asset prices have helped many investors. Still, critics say the disclosure strengthens the argument for strict ethics language in the CLARITY Act. The push for an ethics ban adds another political wrinkle to efforts to pass comprehensive crypto market-structure legislation — illustrating how high-profile crypto profits and concerns about conflicts of interest could shape the final contours of U.S. digital-asset rules. Read more AI-generated news on: undefined/news