tl;dr
• Bitcoin fell to $103,300 amid Middle East tensions, triggering $500M in crypto liquidations, a 6% market decline, and analysts noting its role as an inflation hedge despite $106,500 recovery.• Former BitMEX CEO Arthur Hayes warned Circle’s IPO signals a $228B stablecoin mania bubble, predicting ma...
• Bitcoin fell to $103,300 amid Middle East tensions, triggering $500M in crypto liquidations, a 6% market decline, and analysts noting its role as an inflation hedge despite $106,500 recovery.
• Former BitMEX CEO Arthur Hayes warned Circle’s IPO signals a $228B stablecoin mania bubble, predicting massive losses for new entrants despite USDT/USDC growth.
• JPMorgan warned of stablecoin market chaos as banks race to launch tokens amid the GENIUS Act and Circle’s IPO, with Emma Lovett highlighting fragmentation risks.
• Treasury Secretary Scott Bessent claimed the GENIUS Act could expand the stablecoin market to $3.7T by 2030, requiring reserves in Treasury bills or insured deposits.
• Polygon’s $250M zkEVM project, acquired in 2021, faces shutdown by 2026, with TVL crashing 80% to $16.25M and annual losses exceeding $1M.
• Kraken’s Ink Foundation minted 1B INK tokens for Ethereum layer-2 DeFi, using Aave-powered liquidity protocols and integrating with Optimism Superchain.
• Thailand introduced a 5-year tax exemption on crypto profits from 2025–2029, aiming to boost its digital economy while enforcing anti-money laundering rules.
• Ethereum staking reached 35M ETH ($91B), with Lido holding 8.94M ETH, as SEC clarity boosted security and passive income for stakers.
• The U.S. Senate passed the GENIUS Act 68-30, regulating stablecoins with bipartisan support but facing privacy concerns and delays from House crypto bills.
• Meme coins like PEPE and DOGE crashed 3% amid Middle East tensions, with the meme coin market cap dropping to $59.2B and Bitcoin declining 1%.
• Matthew Sigel, head of digital assets research at VanEck, warned Bitcoin treasury companies to monitor share prices relative to net asset values (NAV), citing Semler Scientific’s proximity to parity and potential sell-offs.
• Goldman Sachs’ Robert Kaplan attributed U.S. inflation to Trump’s tariffs, predicting Fed rate cuts by September as May inflation rose 2.4%.
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