Here are today’s top headlines and key market updates in the cr🚨 Top Crypto News (June 18, 2025)
1. U.S. Senate passes the “GENIUS Act” to regulate stablecoins
A bipartisan vote of 68–30 approved legislation requiring U.S. dollar–pegged stablecoin issuers to hold full reserves in secure assets (like cash or Treasuries), conduct monthly disclosures, and enforce AML rules .
Treasury Secretary Scott Bessent projects stablecoin market expansion to nearly $2 trillion in a decade, though critics raise ethical concerns, especially exemptions for the President and Vice President .
2. $90+ million hack hits Iran’s Nobitex exchange
Nobitex, Iran's largest crypto exchange, was breached today, losing over $90 million. The hack—attributed to the pro‑Israel “Predatory Sparrow” group—appears politically motivated, and the stolen funds were “burned” rather than cashed out .
3. Chinese mining rig giants shift production to U.S.
Bitmain, Canaan, and MicroBT—who control over 90% of global Bitcoin mining hardware—are establishing U.S. manufacturing to evade tariffs. This geographical diversification could reshape the global mining supply chain .
4. Tron (Justin Sun) to go public via reverse takeover
Blockchain firm Tron, led by Justin Sun, plans to go public through a $210 million reverse merger with SRM Entertainment. Additional stock allocations and rumored ties to Trump Jr. raise eyebrows. The move highlights growing crypto–public-market activity .
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📊 Market Snapshot & Analysis
Bitcoin price is hovering around $104,000, with modest intraday volatility.
Total crypto market cap stands at roughly $3.3 trillion, showing a ~1.6% daily gain—indicative of neutral-to-slightly bullish sentiment .
Noteworthy altcoins gaining traction include Ethereum, Ripple (XRP), Solana, BNB, and various stablecoins like USDT and USDC .
On the consumer-community front,edditors from r/CryptoCurrency show mixed feelings—with some feeling fatigued by “pump & dump” culture and greed in the ecosystem.$
