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The U.S. state of Connecticut has passed HB7082, banning the state government from accepting, holding, or investing in any virtual currencies.

The law also prohibits creating a “reserve of virtual currency” and imposes stricter requirements on money transmitters. It passed both chambers unanimously.

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The Ethereum network reached a record 17.4m unique addresses in early June.

Since the start of Q2, the number of ETH addresses interacting across one or more blockchains has jumped 70.5%. On June 10, Ethereum recorded 16.4m active addresses, reflecting sustained high on-chain activity.

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Daily active addresses on the Avalanche network have surged 200% since the start of 2025, reaching 2.2m—up from just 430k in April, marking a 5x rebound in recent weeks.

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Donald Trump announced that a federal appeals court upheld the U.S. government's right to use tariffs for national protection, calling it a major victory for the country.

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Donald Trump announced on social media that the U.S. and China have finalized a trade deal, pending final approval from him and President Xi.

He emphasized that China will supply rare earths and magnets, while the U.S. will uphold its commitments, including allowing Chinese students to study at American universities.

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The U.S. announced the inflation figures:

CPI: 2.4% YoY, 0.1% MoM
Forecasted CPI: 2.5% YoY, 0.3% MoM

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The SEC is widely expected to approve altcoin ETFs later this year, with Solana likely to be the first—potentially within the next 3-5 weeks.

Projected approval odds:

⚫️ETF for LTC—90%
⚫️ETF for SOL—90%
⚫️ETF for XRP—85%
⚫️ETF for DOGE—80%
⚫️ETF for ADA—75%
⚫️ETF for DOT—75%
⚫️ETF for HBAR—80%
⚫️ETF for AVAX—75%
⚫️ETF for SUI—60%

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PayPal announced it is expanding its PYUSD stablecoin to the Stellar blockchain to enhance cross-border remittances and payment financing solutions.

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Ukraine has registered a draft law proposing the creation of a national crypto reserve.

According to MP Yaroslav Zheleznyak, the bill would allow the National Bank of Ukraine to include virtual assets in its gold and foreign exchange reserves, helping the country align with global financial innovation.

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The U.S. Senate voted 68–30 to move forward with GENIUS Act stablecoin bill, setting it up for an imminent final vote as early as next Monday.

The bill would require stablecoins to be fully backed by U.S. dollars or similarly liquid assets, mandate annual audits for issuers with more than $50bn in market capitalization, and add language around foreign issuance.

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Singapore’s regulator has given unlicensed crypto firms until June 30 to cease offshore operations, prompting major exchanges to exit.

Bitget will relocate staff to Dubai and Hong Kong, while Bybit is considering similar moves. MAS warned that licenses will be granted only in rare cases, putting hundreds of local jobs at risk.

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Donald Trump shared a link to trumpcard.gov, promoting a new $5m “GOLD CARD” visa program.

According to the site, the GOLD CARD grants U.S. residency, work rights, and a pathway to citizenship. Unlike the EB-5 program, it reportedly offers exemption from federal taxes on foreign income.

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Binance has officially removed Syria from its list of prohibited countries following the suspension of U.S. sanctions. Syrian residents now have full access to the platform’s services, including spot and futures trading, staking, Binance Pay, and Arabic-language educational content.

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Sam Altman's World Chain has integrated Circle’s USDC and CCTP V2, replacing bridged USDC with natively issued stablecoins on its network.

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NBA Star Shaquille O'Neal has agreed to pay $1.8m to settle the FTX investor class action lawsuit, pending court approval.

The deal exempts him from future legal claims and bars him from seeking compensation from FTX’s bankruptcy estate.

O’Neal was accused of promoting FTX as a safe investment, unlike other FTX promoters who were dismissed from the case earlier.

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The Depository Trust and Clearing Corp. (DTCC), the clearinghouse that processes U.S. stock trades, considers issuing a stablecoin if legislation legitimizing the tokens is approved in Washington.

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Stablecoins now account for 1.1% of the total US dollar supply, up from just 0.2% in early 2020—highlighting their growing role in global liquidity and financial flows.

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The SEC and Ripple have jointly filed a renewed settlement proposal in Manhattan court, requesting to dissolve the injunction and release the $125m penalty currently held in escrow.

Under the proposal, Ripple would pay $50m to the SEC, with the remaining funds returned. The motion aims to settle the case, avoid further appeals, and bring an end to the long-running legal dispute.

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The Israeli Air Force launched strikes overnight on multiple Iranian nuclear and military sites, vowing to eliminate Iran’s nuclear capabilities. Markets reacted sharply:

Bitcoin dropped 2% and Ethereum fell 4.4% within an hour
Over $1.01bn in crypto positions were liquidated in 24h, with $945m in longs wiped out
The largest single liquidation was a $201m BTCUSDT position on Binance

Futures fell, while oil and gold spiked. Tensions remain high as Iran warns of "severe retaliation" and Israel signals the operation will continue "as long as needed." Crypto markets are reacting in line with broader risk-off sentiment.

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2025/10/26 06:12:57
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