💥Hot news affecting the crypto market in the past 24 hours:
1. Record capital flow into crypto funds: According to Reuters, assets under management (AUM) of crypto funds reached 167 billion USD in May, with inflows of 7.05 billion USD—the highest since December. Bitcoin rose over 15% in 3 months, outperforming MSCI World and gold. Strong capital flow was driven by Bitcoin and Ether ETFs along with a need to diversify portfolios due to concerns about the US economy.
2. US Senate moves closer to stablecoin legislation: The Senate voted cloture with a 68–30 ratio to advance the “GENIUS Act” – a law aimed at developing stablecoins. If passed, this brings the US closer to its goal of becoming the global “crypto capital.”
3. Ukraine considers adding crypto to national reserves: A bill was submitted allowing the Central Bank of Ukraine to hold $BTC , $ETH in foreign exchange reserves, but not mandatory. This paves the way for legalizing crypto as reserve assets.
4. Large capital “flows back” $XRP : Data shows XRP experienced outflows of up to 151 million USD, up 565% in 24 hours, after VivoPower and Flare partnered to create passive income from XRP.