Circle, Coinbase shares soar as Senate clears path for stablecoin regulation:
Circle closes up 33.8%, Coinbase and Robinhood also gain Senate passes stablecoin bill with rare bipartisan support Market eyes House vote and possible passage by end of summer Legislation seen as turning point for crypto oversight June 18 (Reuters) - Shares of stablecoin issuer Circle (CRCL.N), opens new tab and crypto exchange Coinbase (COIN.O), opens new tab surged on Wednesday after the U.S. Senate passed a landmark stablecoin bill, boosting hopes of wider adoption for a once-niche part of the crypto sector. The bill was passed with bipartisan support, marking a turning point in the debate over crypto oversight, and a breakthrough for a sector long stuck in regulatory limbo.
U.S. crypto stocks surge as Senate approves milestone stablecoin bill:
Top crypto stocks on Wall Street surged on Wednesday after the U.S. Senate approved a milestone stablecoin bill, fuelling hopes for broader adoption of what was once a niche corner of the crypto sector.
The bill was passed with bipartisan support, marking a turning point in the debate over crypto oversight, and a breakthrough for a sector long stuck in regulatory limbo.
The tokens have gained traction for offering crypto’s convenience without its volatility. Pegged to currencies like the U.S. dollar, they aim to hold a stable value backed by reserves.
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USDC issuer Circle surpasses $33.617 billion in market capitalization
The market capitalization of dollar-backed stablecoin USD Coin (USDC) issuer Circle has approached $33.617 billion.
According to Investing.com on the 17th (local time), the previous day Circle closed the session at $151.06, up 13.10% from the previous day, raising its market cap to $33,617,000,000. This figure represents an increase of about 387% compared to the listing price of $31. The intraday peak price reached the $165 mark, reflecting high market interest.
Circle's share price increase is seen as reflecting expectations that stablecoin issuers will benefit following the passage of the GENIUS Act in the United States. Previously, Bernstein stated in a report, "If the act passes, stablecoins will evolve into internet payment infrastructure," and analyzed, "There is a high probability that non-financial listed companies will collaborate with stablecoin issuers."
The Senate passed first-of-its-kind bipartisan cryptocurrency legislation, called the GENIUS Act, after months of negotiations and weeks of back-and-forth between Democratic and Republican backers. The final tally was 68-30, with 18 Democrats voting yes, and two Republicans voting no.
The bill now moves to the House for consideration. House Majority Whip Tom Emmer has called for the chamber’s Financial Services Committee to advance stablecoin legislation by the end of July.
The GENIUS Act aims to regulate stablecoin, a specific type of cryptocurrency that is tied to the US dollar. Despite bipartisan senators working on this bill for months, and general agreement across the Capitol that stablecoin regulation is necessary, the legislation has become a flashpoint for Democratic concerns with President Donald Trump’s own cryptocurrency dealings.
The Fed is set to make its next rate decision on Wednesday. Here's what to expect.
The Federal Reserve Bank is expected to hold its benchmark rate steady at its meeting on Wednesday, maintaining the same cautious posture it has assumed throughout the first half of 2025.
That's according to the CME Group's FedWatch Tool, which as of June 18, 2025, shows a likelihood of 99.9% that the Fed will keep the federal funds rate at its current range of 4.25% to 4.5%. CME Group is the parent company of the Chicago Board of Trade and other exchanges.
Bitcoin must upgrade or fall victim to quantum computing in 5 years
Unless Bitcoin upgrades its core cryptography in the next five years, the trust it has built over 16 years could be wiped out by a single quantum attack. Urgent upgrades are needed to protect the world’s leading cryptocurrency. Satoshi Nakamoto changed how we define money. In response to the 2008 collapse of the financial institutions in which millions put their trust, Satoshi created a decentralized monetary system built on elliptic curve cryptography.
This combination of cold math and decentralization was a powerful one, attracting not only diehard skeptics but also the world’s largest financial institutions, such as BlackRock.
In the 16 years of its existence, Bitcoin has never been hacked. All of that is about to change very soon, however, with the advent of quantum computing. This is the biggest single threat to Bitcoin since its inception from the ashes of the global financial crisis.
Bitcoin can absorb $30T US Treasury market — Bitwise CEO
Bitcoin does not just compete with gold as an alternative store of value, but all savings instruments, including government securities.
Bitcoin's total addressable market encompasses the $16 trillion gold market and the $30 trillion US Treasury market used as a store of value by individual bondholders and institutions, according to Hunter Horsley, the CEO of digital asset investment firm Bitwise.
“The opportunity for Bitcoin isn’t just gold; it is the $30 trillion-plus using Treasuries as a store of value,” the CEO wrote on Friday.
Horsley was responding to an earlier post from economist Mohamed El-Erian, in which the economist cautioned analysts that US Treasury flows are no longer a barometer for investor flight to safety.
Bitcoin clings to $105K as opinions diverge on oil price outlook
Oil price talk leads macro analysis amid Middle East tensions, but whether Bitcoin will suffer as a result is up for debate as traders see a BTC price comeback.
Bitcoin recovers from a trip below $103,000 with markets on edge over the Israel-Iran conflict.
Oil steals the show on the day, but analysis is far from unanimous on the outlook.
BTC price predictions see the rebound persisting, shaking off the likelihood of further losses.
Iran Reels From Israeli Strikes on Nuclear Sites and Top Officials:
Israel said it had damaged a key nuclear facility, and Iran said several military commanders were killed. President Trump warned Tehran to agree to new limits on its nuclear program or risk “even more brutal” attacks.
Iran was reeling on Friday from waves of Israeli strikes that decimated its military chain of command and targeted key nuclear facilities. The attacks began before dawn and were continuing toward dusk.
Prime Minister Benjamin Netanyahu of Israel described the sustained assault as necessary to prevent Iran from getting a nuclear weapon, which Israel views as an existential threat. Mr. Netanyahu vowed the fighting would last “as many days as it takes.”
Talks aimed at cooling tensions between the US and China have ended in a "deal", according to US President Donald Trump.
He said China had agreed to supply US companies with magnets and rare earth metals, while the US would walk back its threats to revoke visas of Chinese students.
"Our deal with China is done, subject to final approval from President Xi and me," Trump wrote on his media platform Truth Social.
ETH price tops $2.8K as options traders open bearish positions: Are bears wrong?
Ether price continues to show strength at $2,800 even as some traders embrace bearish options strategies. What gives?
Traders are using bearish ETH options to hedge after Ether’s 49% rally in May.
An altcoin ETF listing season could negatively impact ETH’s market dominance and price action.
ETH 2,771 price surged 10% between Monday and Tuesday, reaching its highest level in over 15 weeks. Despite this rally, ETH has consistently struggled to break above the $2,800 mark over the past month. This resistance level has coincided with a growing use of downside protection strategies in ETH derivatives markets.
Regulators and policy makers have struggled to agree on a definition of decentralized finance, but regulating this area of the crypto industry is far from impossible, panelists said at the SEC's latest crypto roundtable.
The big picture: The SEC's challenge in regulating DeFi is applying current rules aimed at intermediaries — like broker-dealers and exchanges — to a system designed to operate without them, SEC chair Paul Atkins noted.
Panelists at the fifth crypto roundtable yesterday, titled "DeFi and the American Spirit," suggested three target areas for regulation: common activities, disclosure rules and risk identification.
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Nasdaq confirms XRP, SOL, ADA, and XLM in benchmark index via new SEC filing
Nasdaq has updated its ETF benchmark to include XRP, Solana, Cardano, and Stellar.
Nasdaq confirms XRP, SOL, ADA, and XLM in benchmark index via new SEC filing
Nasdaq has updated its ETF benchmark to include XRP, Solana, Cardano, and Stellar.
Mehab Qureshi
19 hours ago
Nasdaq has officially filed an SEC Form 8-K for the Hashdex Nasdaq Crypto Index US ETF, confirming it has reconstituted its benchmark index to include four new digital assets: Cardano (ADA), Solana (SOL), Stellar Lumens (XLM), and XRP.
These coins are now part of the Nasdaq Crypto US Settlement Price Index (NCIUS), which the ETF uses as its benchmark.
According to the filing dated June 2, this update marks a significant step toward broader crypto representation in institutional investment products. However, despite the change, the Trust will continue to hold only Bitcoin and Ethereum for now, due to its existing listing restrictions.
“The idea that one coin must dominate all others ignores the power of collaboration and innovation,” says Jeff Garzik, a co-founder of Hemi Labs and an original Bitcoin developer.
The launch of Bitcoin in 2009 created a resilient and decentralized monetary asset. Early adherents rallied around it as a singular innovation — immutable, fixed-supply, and leaderless. Over time, this coalesced into a belief system: Bitcoin maximalism. The argument was simple. Bitcoin came first. It had the most Proof-of-Work security. The most conservative monetary policy. All other assets were distractions or regressions.
But that framing increasingly diverges from how Bitcoin is now being applied in practice.
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