Crypto Tax Approved by Illinois Governor
Illinois Governor JB Pritzker signed a $55.9 billion budget including a 0.2% tax on crypto transactions, despite industry opposition, potentially raising over $800 million for the state. #Update #Legal $BTC
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Hyperliquid Open Interest Surges 32% This Week
Hyperliquid’s $HYPE open interest surged 32% to $3 billion, with a recent rally peaking at $76.90 before pulling back to $73 amid strong institutional demand. #Update #Crypto $HYPE
Senators Urge Treasury to Secure GENIUS Authority
A bipartisan group of U.S. senators, led by @CynthiaLummis, urged the Treasury to allow state regulation of stablecoin issuers under the GENIUS Act, impacting most stablecoins except Tether and USDC. #Update #Legal $USDC
Ethereum Bridge Exploited for $11.6M Loss
@VerusProtocol’s Ethereum bridge exploited, resulting in a loss of $11.58 million in crypto via fraudulent transfers. Incident mirrors past exploits; security measures recommended for cross-chain transactions. #Breaking #Crypto $ETH (-8) ↘
Bitcoin Exploited for $77M in Admin Key Breach
Decentralized finance protocol @EchoProtocol suffered a $76.7M exploit after 1,000 unauthorized eBTC were minted due to an admin key compromise; investigation ongoing. #Breaking #Crypto $eBTC (-8) ↘
EU Opens Consultation on MiCA Stablecoin Rules
The European Union opens a consultation on MiCA stablecoin regulations, addressing interest rules, DeFi risks, and classification gaps ahead of the July crypto authorization deadline. #Update #Crypto $USDT
Bitcoin Surges to $67K After Peace Deal
Bitcoin ($BTC) surged above $67,000 after a US-Iran ceasefire, but skepticism remains as futures basis is at 2% and put options show downside fear; institutional inflows of $86M provide some support. #Update #Crypto $BTC
Pudgy Penguins Ends Pudgy Party Game
@PudgyPenguins is winding down its mobile game Pudgy Party, shifting focus to Pudgy World for scalability. Total NFT market cap rose to nearly $1.5B, still below 2022’s peak. #Update #Crypto $NFT
DeFi Hacks Erode Institutional Confidence Rapidly
Repeated bridge exploits and declining yields are leading institutions to question the value of DeFi, according to @Symbiotic’s Putiatin. #Update #Crypto $ETH
Kraken Launches Perpetual Futures for US Traders
@Kraken launched perpetual futures trading for US users via Bitnomial, covering major cryptocurrencies like $BTC and $ETH, expanding regulated derivatives offerings. #Update #Crypto $BTC
Ethereum Remains Strong Buy According to Analyst
Ether’s (ETH) staking activity rises with nearly 39.1M staked, while accumulation addresses show significant inflows; ETH remains a key player in DeFi despite a 28% price drop this year. #Update #Crypto $ETH
Crypto Outflows Signal Sentiment Shift Not Crisis
Crypto market sentiment has soured as $1.72 billion flowed out of Bitcoin ETFs, driven by geopolitical uncertainty and delayed rate cuts, indicating a cautious phase for risk assets. #Update #Crypto $BTC
Tokenized Asset Market Surges to $43B
Tokenized financial assets have reached $43B, surging 37% in six months as institutions enhance blockchain adoption and diversify beyond funds and private credit. #Update #Crypto $BTC
Bitcoin Surges Despite 3-Year High Inflation
Bitcoin ($BTC) rose 2.5% to $62,410 after the US CPI matched expectations at 4.2%, despite inflation concerns; however, it remains below key resistance levels. #Update #Crypto $BTC