Crypto weekly is authored by maaria and david blumenfeld

PRICE CHANGE: WTD/YTD
- Crypto Market Cap ($3.40T): -1% / 0%
- BTC ($105,483): -1% / +13%
- ETH ($2,547): +1% / -24%
- SOL ($151): -3% / -20%
- UNI ($7.17): +10% / -46%
- OP ($0.59): -5% / -66%
- Tether Mkt Cap ($155B): 0% / +12%
- USDC Mkt Cap ($61.6B): +1% / +41%
- BTC / ETH Dominance: 62% / 9%

THIS WEEK IN CRYPTO
- Bitcoin and crypto markets lost mid-week gains after Israel launched a series of airstrikes against Iran. Link.

- The US Senate is scheduled to give its final vote on stablecoin legislation, the GENIUS Act, on June 17th. Link. Link. 

- Stripe agreed to acquire crypto wallet provider Privy, building on the company’s recent acquisition of stablecoin infrastructure firm Birdge. Terms of the deal were not disclosed. Link. 

- Franklin Templeton, Galaxy Digital, Grayscale, and VanEck submitted updated S-1s for spot Solana ETFs, a signal that SOL ETFs may be close to approval. Link. 

- More than $100 billion in ETH is now staked onchain, representing almost 28% of current circulating supply. Link. 

- The SEC formally withdrew several proposed rules introduced during former Chair Gary Gensler’s leadership that broadened the definition of exchanges to include DeFi platforms. Link. 

- The upcoming Bitcoin Core 30 update scheduled for October will increase the data limit in Bitcoin transactions from 80 bytes to 4MB. Critics argue that increasing the data limit will encourage more non-financial data to be stored on the blockchain, making it slower. Supporters say the data increase will enable new use cases. Link. 

- Coinbase and American Express will launch Coinbase One Card this fall, a credit card offering up to 4% in BTC rewards. Link. 

- The US House Agriculture Committee voted to advance a crypto market structure bill called the CLARITY Act, which would clarify the roles of the CFTC and SEC in overseeing digital asset markets. Link. 

- Polygon co-founder Sandeep Nailwal is taking over as CEO of the blockchain project’s foundation to focus on scaling its AggLayer offering and advancing payment tools. Link. 

- Shopify is rolling out stablecoin payments to all users on its platform later this year, in partnership with Coinbase and Stripe. Link. 

- Amazon and Walmart have recently discussed issuing their own stablecoins in the US to save billions of dollars in card processing fees. Link. Link.

- US Treasury Scott Bessent said in a Senate hearing that the US dollar-backed stablecoin market could surpass $2 trillion in the next 3 years with the passing of stablecoin legislation. Link. 

- Total Ethereum NFT traders surged to 40,000, nearing June 2022 figures. The uplift coincides with the launch of OpenSea’s rewards program and upcoming airdrop. Link. 

- President Donald Trump earned $57.7 million in 2024 from his crypto venture World Liberty Financial according to federal financial disclosure forms. Link.

- Binance is opening its platform to users in Syria, a month after the US lifted economic sanctions on the country. Link. 

- Ethereum Foundation donated $500,000 to Tornado Cash co-founder Roman Storm’s defense, ahead of an upcoming trial in July. Storm was charged wtih conspiracy to commit money laundering and sanctions violations for operating Tornado Cash. Link. 

- The SEC is developing a policy to provide an “innovation exemption” for decentralized finance platforms. Link. 

- Crypto investor Anthony Pompliano is expected to lead a publicly traded company seeking to raise $750 million for Bitcoin purchases via SPAC. Link. Link. 

- Bullish Global, a crypto exchange backed by Peter Thiel, has filed documents with the SEC for a US IPO. Link.

- Coinbase plans to add support for the popular memecoin Fartcoin for both retail and institutional investors. Link.