
Jefferies Warns of Crypto Market Volatility Amid CLARITY Act's Senate Test
Jefferies warns of crypto market volatility as the CLARITY Act faces major hurdles in the Senate, potentially impacting institutional adoption.

◆ Top story // Markets
A Cybrid report indicates a majority of businesses are likely to adopt stablecoins within 12 months, despite regulatory clarity being the biggest barrier.

Jefferies warns of crypto market volatility as the CLARITY Act faces major hurdles in the Senate, potentially impacting institutional adoption.

Shares of Circle, the issuer of the USDC stablecoin, plummeted 13% after Stripe, Coinbase, and BlackRock announced support for a new rival stablecoin network, Open Standard's Open USD.

MetaMask has launched its new Money Account, providing users with up to a 4% variable APY on mUSD stablecoin balances and integrated card spending.

MetaMask has introduced its new **Money Account** feature, integrating **stablecoin yield** generation and **spending** capabilities in one wallet.

OKX has launched a beta marketplace for the autonomous agent economy, enabling AI agents to autonomously find work and collaborate.

Patrick McHenry, Vice Chairman at Ondo Finance, advocates for competition and against gatekeepers in the tokenized securities market.

MicroStrategy's new Bitcoin capital framework received a $570 per share target from Benchmark, despite trader concerns over long-term demand risk.

Onchain capital markets platform Theo has become the first crypto-native investor in Fidelity International's tokenized liquidity fund with a $20 million allocation.

Nasdaq is expanding its market data distribution into blockchain infrastructure, offering its TotalView data feed through Pyth's marketplace.

Swan CEO Cory Klippsten notes a record Bitcoin supply held by long-term investors, suggesting a potential early bottom for the crypto market.

StarkWare has unveiled a **Starknet quantum roadmap**, with CEO **Eli Ben-Sasson** urging the crypto industry to proactively address future cryptographic threats.

Spiko has integrated Coinbase Payments into two EU regulated UCITS Treasury funds, enabling USDC and EURC subscriptions and redemptions via the Base blockchain.

Bitcoin has been trading in a tight **$59,000 to $60,000** range, a pattern that experts warn could precede a drop towards **$40,000**.

Asset manager New York Life, with $807 billion under management, has made its tokenization debut by launching an onchain high-yield corporate bond fund with Centrifuge.

Bitcoin faces a projected $4.4 billion supply overhang by June 30, 2026, amid reports of wilting institutional demand.

Nasdaq-listed Solana Company has partnered with Kazakhstan's Alatau City, supporting its $6 billion ambition to become a leading crypto hub in Central Asia.

Bitcoin is approaching its 2024 lows, with options traders increasing their demand for downside protection as the broader crypto market faces pressure.

MicroStrategy (MSTR) shares plummeted by 41% in June, marking the eleventh losing month in twelve amidst ongoing Bitcoin market weakness.

The European Securities and Markets Authority (ESMA) has warned that EU crypto clients must be served by MiCA-authorized entities, scrutinizing Binance's model.

The UK's FCA proposes lowering stablecoin capital buffers, creating a more lenient regulatory environment compared to the EU's stringent MiCA requirements.

The SEC has secured a $5.5 million default judgment against NanoBit, an alleged fake crypto platform that misappropriated user funds sent to Hong Kong.

A Michigan Judge has temporarily blocked prediction market platform Kalshi from offering sports betting contracts to residents, intensifying the state-federal debate on gambling laws.

Ionic Digital, a Bitcoin mining firm associated with the bankrupt Celsius, is pursuing a Nasdaq direct listing while repurposing its infrastructure for AI and HPC workloads.

Swan CEO Cory Klippsten notes a record Bitcoin supply held by long-term investors, suggesting a potential early bottom for the crypto market.

Bitcoin is precariously holding the key $60,000 level, with soft futures markets fueling uncertainty about whether BTC has bottomed.

Bitcoin's **RSI divergence** at the Q2 and June close has analysts comparing the **$60,000** level to the **$30,000** mark during the **2022 bear market**.

StarkWare has unveiled a **Starknet quantum roadmap**, with CEO **Eli Ben-Sasson** urging the crypto industry to proactively address future cryptographic threats.

Ethereum co-founder Vitalik Buterin highlights indistinguishability obfuscation as crypto's most powerful idea, despite it being too slow for real-world use.

Vitalik Buterin stated that indistinguishability obfuscation could enable private, collusion-resistant onchain voting without trusted committees.

XRP has held its crucial $1 support level, with active addresses surging 72% in two weeks and open interest at its lowest since July 2025.

Bitmine acquired approximately $43 million worth of Ether last week, coinciding with its entry into the Russell 1000 Index.

Pioneering **zk-rollup** project **Loopring** has announced the closure of its decentralized exchange (DEX), citing a significant **lack of adoption**.

MetaMask has launched its new Money Account, providing users with up to a 4% variable APY on mUSD stablecoin balances and integrated card spending.

MetaMask has introduced its new **Money Account** feature, integrating **stablecoin yield** generation and **spending** capabilities in one wallet.

Ripple's new proposed XRPL standard would allow institutions to borrow against tokenized assets, with blockchain enforcing loan terms.

NFT brand Pudgy Penguins is launching its new Vibes Series 3 trading cards in Target stores nationwide, marking a significant expansion into mainstream retail.

The popular NFT project Pudgy Penguins has announced the closure of its mobile battle royale game, Pudgy Party, shifting focus to its immersive Pudgy World experience.

Pudgy Penguins is halting development of its mobile game, Pudgy Party, to concentrate resources on its immersive virtual world, Pudgy World.

Jefferies warns of crypto market volatility as the CLARITY Act faces major hurdles in the Senate, potentially impacting institutional adoption.

Patrick McHenry, Vice Chairman at Ondo Finance, advocates for competition and against gatekeepers in the tokenized securities market.

The European Securities and Markets Authority (ESMA) has warned that EU crypto clients must be served by MiCA-authorized entities, scrutinizing Binance's model.

A Cybrid report indicates a majority of businesses are likely to adopt stablecoins within 12 months, despite regulatory clarity being the biggest barrier.

Shares of Circle, the issuer of the USDC stablecoin, plummeted 13% after Stripe, Coinbase, and BlackRock announced support for a new rival stablecoin network, Open Standard's Open USD.

OKX has launched a beta marketplace for the autonomous agent economy, enabling AI agents to autonomously find work and collaborate.