Texas Governor Greg Abbott has signed SB 21 into law, officially incorporating Bitcoin reserves into the state’s legal framework.

This makes Texas the third U.S. state to establish a formal Bitcoin reserve, following moves by Arizona and New Hampshire.

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Kakao Pay has launched a Korean won stablecoin project and filed 18 related trademarks, including “KRWKP” and “KWRP,” with the Korean Patent Office.

The move comes as South Korea promotes the “Basic Law on Digital Assets,” which would legalize private issuance of KRW stablecoins. Game company Nexusth also aims to be the first KRW stablecoin issuer.

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FTX's bankruptcy team has asked the court to dismiss Three Arrows Capital’s (3AC) $1.53bn claim, calling it baseless and factually inaccurate.

FTX lawyers argue 3AC’s losses stemmed from market turmoil and its own withdrawals, not FTX actions. 3AC must respond by July 11, with a court hearing set for August 12.

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OKX is weighing a U.S. IPO after reentering the American market in April, following a $505m settlement with the Department of Justice.

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Strategy has added 245 BTC for ~$26m at an average price of $105,856, bringing its YTD 2025 BTC yield to 19.2%.

As of June 23, the firm holds 592,345 BTC bought for $41.87bn at an average of ~$70,681 per coin.

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The Federal Reserve Board announced it will no longer include reputational risk as a standalone component in its bank supervisory examination programs.

⚫References to reputational risk will be removed from supervisory materials and replaced with more specific financial risk metrics where appropriate
⚫The Fed will train examiners to apply this change consistently and coordinate with other U.S. banking regulators

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Texas has become the first U.S. state to establish a publicly funded Bitcoin reserve, allocating $10m for BTC purchases.

Unlike Arizona and New Hampshire, Texas will manage its reserve outside the state treasury, with HB 4488 ensuring it remains separate from general revenue.

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After Israel has reported rocket launches from Iran, Israeli Defence Minister Israel Katz said he has ordered the military to resume high-intensity strikes on regime targets in central Tehran.

The statement came less than three hours after Donald Trump announced that the ceasefire between Israel and Iran had taken effect.

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Circle (CRCL) has surpassed Coinbase in market cap after its stock price briefly hit $298 on Monday, despite Coinbase capturing half of Circle’s revenue and running several other business units.

Two Prime CEO Alexander Blume called the valuation “abnormal” and expects a correction. Circle paid over 60% of its USDC reserve income to Coinbase this year.

CRCL is now trading at $263.25, up 9.5% since the previous day.

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TRON-based USDT supply has hit a record $80.7bn, surpassing Ethereum’s $73.8bn and marking a key milestone in 2025.

In 2021, TRON USDT grew 487% from $6.7bn to $39.4bn. This year, it’s surged from $59.8bn to $80.7bn—with six months still to go.

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Japan’s Financial Services Agency has proposed bringing crypto assets under the Financial Instruments and Exchange Act, potentially enabling Bitcoin ETFs.

If approved, the move would also lower the tax on crypto gains to a flat 20% from the current progressive rate of up to 55%.

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Turkey is introducing strict new crypto rules requiring platforms to collect detailed information on the source and purpose of each transaction, with mandatory descriptions and enforced withdrawal delays.

Stablecoin transfers will be capped at $3,000 daily and $50,000 monthly, as the country moves to align with global standards and combat financial crime.

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Polymarket, the largest prediction market platform globally, is close to securing over $200m in a new funding round. The deal would value the company at more than $1bn.

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Tether has become the second-largest shareholder in Juventus, acquiring a 10.7% stake valued at approximately €128m ($148,5m).

The company is now seeking a board seat and has indicated its intent to participate in future capital raises for the club.

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The Bank for International Settlements (BIS) says stablecoins fail key monetary tests and are unfit as the basis of a financial system.

BIS flagged issues with unity (issuer-dependent pricing), elasticity (require 100% pre-funding), and integrity (inconsistent KYC/AML).

It also warned stablecoins may undermine state monetary sovereignty and facilitate financial crimes—despite their benefits in programmability, user access, and fast, low-cost transfers.

Circle shares dropped 15% after the report.

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From June 27th, Barclays will block customers from using personal cards for any cryptocurrency transactions.

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Tether CEO Paolo Ardoino said the company aims to become the world’s largest Bitcoin miner by the end of 2025, emphasizing that mining is a strategic move to secure its $10bn+ BTC holdings.

Tether has already invested over $2bn into mining and energy infrastructure across Latin America, though its current hashrate remains undisclosed.

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Since the recent Israel-Iran conflict, Tether has frozen 112 wallet addresses holding nearly $700m USDT across Ethereum and TRON, with the top 40 all located on TRON—where Iranian trading platforms primarily operate.

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