Circle Shares Fall After Open USD Stablecoin Targets USDC
Circle shares dropped nearly 15% after Open Standard unveiled Open USD, a consortium-backed stablecoin targeting USDC’s enterprise user base and reserve revenue model.
South Korea Fines Bithumb for Overseas User Data Transfers
South Korea imposed a 210 million won fine on Bithumb for unauthorized overseas data transfers. Regulators cited consent violations and ordered corrective measures.
BitGo Cuts 15% of Staff to Refocus on Stablecoins and AI
BitGo is cutting nearly 15% of its staff following its January IPO. The company is shifting focus to stablecoins, institutional services and AI driven infrastructure.
Legal | Markets & Finance | News | Regulation
Pump.fun Offers $5M CLO Role Amid Expanding US Lawsuit
Pump.fun is hiring a Chief Legal Officer with a base salary of up to $5 million while facing a class action lawsuit in New York that includes RICO claims.
US Iran Oil License Sends Crude Lower as Inflation Remains in Focus
The US Treasury issued a 60-day license for Iranian oil exports, sending crude prices lower. Markets are assessing the impact on inflation, interest rates, equities, and Bitcoin.
Europe’s Crypto Market Enters Supervision Phase After MiCAR Rollout
With MiCAR in place, Europe’s crypto sector is moving from licensing to ongoing supervision. Industry focus now centers on governance, resilience, and investor protection.
CFTC Secures Permanent Trading Ban Against Alex Mashinsky
A federal court has entered a consent order permanently banning Celsius founder Alex Mashinsky from trading in CFTC regulated markets. The order concludes the agency’s 2023 enforcement action.
Singapore Adds Bybit to Investor Alert List
Singapore’s Monetary Authority has placed Bybit on its Investor Alert List, clarifying that the exchange is not licensed for services accessible to local users.
Ripple and JPMorgan Clash Over CLARITY Act as US Crypto Bill Advances
Ripple CEO Brad Garlinghouse criticized JPMorgan’s opposition to the CLARITY Act as the US crypto regulation bill moves forward. The dispute underscores the stakes for institutional adoption and market structure.
Bitcoin ETFs See $85.85M Inflow as Outflow Streak Ends
Bitcoin spot ETFs drew $85.85 million in net inflows on June 12, the strongest single day in four weeks. The move ended a prolonged outflow streak as BTC traded near $63,868.