Good Morning,

Here's a quick preview of today’s content: Fartcoin might be able to get you a mortgage loan, Kraken can start cooking in Europe, another prediction betting platform reaches unicorn status, Sen. Lummis is full speed ahead on crypto regulation, billion dollar Bybit hack linked to an exchange in Greece, and much more

It’s Almost Friday - Let’s dive in.

Market Snapshot

• Federal Reserve Chair Jerome Powell reiterated the bank’s cautious approach to interest rates, citing tariff uncertainties heading into July and the second half of 2025

  • Despite no Fed pivot in sight, Bitcoin rose nearly +2% in the last 24 hours as institutional demand and improved negotiations in the Middle East bolstered sentiment, according to analysts

• U.S. Stocks followed BTC's uptrend with the S&P 500 added +1.1% on Tuesday and reclaimed the psychological 6,000 level, although futures stalled after Federal Reserve Chair Jerome Powell maintained a neutral tone on rate cuts

Headline Roundup
^{_{The major headlines driving crypto markets}}

• US ordered Fannie and Freddie to find ways to count crypto as an asset - the massive decision broke down here

• U.S. Director of Federal Housing FHFA Bill Pulte released a full memo on the decision via his X post

• US Treasuries face stablecoin-driven demand surge as supply looms (RT)

• GameStop plans to raise $450M through convertible senior notes for investments (BM)

• Bernstein sets Coinbase price target near all‑time high (TB)

• Powell hints at continued monitoring of interest rates into June amid economic uncertainty (BW)

• Catalysts behind Sei’s June price surge revealed by analysts (BN)

• Invesco and Galaxy file competing SEC applications for a Solana ETF (TB)

• Paxos and Mastercard integrate with Dollar Network to boost stablecoin adoption (BW)

• Bit Digital winds down Bitcoin mining ops and pivots to Ethereum treasury strategy (TB)

• Tokenized shares in Elon Musk’s SpaceX via Republic coming soon (CD)

• MetaPlanet plans stock issuance to build Bitcoin treasury (TB)

• Grayscale launches space‑sector investment trust alongside SXT token (TB)

• South Korea’s largest bank applies for stablecoin trademarks to enter market (TB)

• Barclaycard adds “Make Money Work for You” advisor feature—except for crypto buyers (BN)

• Robinhood CEO says crypto will disrupt and potentially replace traditional finance (TK)

• Guotai Junan wins Hong Kong crypto licence, shares double on the news (TD)

• Chinese firm Aurora Mobile plans to adopt crypto treasury for holdings (CD)

• Deep‑sea mining firm aims for $1.2B Bitcoin treasury with BTC‑backed plan (CD)

• Norwegian deep‑sea mining firm to adopt Bitcoin as treasury reserve (CT)

• Digital Commodities secures $3M funding to expand Bitcoin holdings (BM)

Venture Capital

• Prediction platform Kalshi raises $100M at a $1B valuation with backing from Paradigm and others (TB)

• Bitdeer raises $330M via convertible notes maturing in 2031 to expand operations (CD)

• Zama, a cryptography company pioneering fully homomorphic encryption (FHE) for blockchains, said it raised $57M in a series B round co-led by Blockchange Ventures and Pantera Capital (CD)

• Sky approved a $1B allocation into the Janus Henderson Anemoy AAA CLO Strategy — an onchain collateralized loan obligation (CLO) (TB)

Launches

• Animoca’s MoCA Chain mainnet officially launches, expanding its blockchain ecosystem (BW)

Regulation

• Kraken secures MiCA license to offer Bitcoin and crypto services in Europe (BM)

• Cynthia Lummis said she expects the CLARITY Act and GENIUS Act to pass through Congress - here full statements here

• Arizona revives bid for seized‑crypto reserve fund via House bill 2324 (BC)

Cybersecurity

• $1.5B Bybit hack spoils traced to Greek crypto exchange, report says (DE)

• Resupply, a stablecoin protocol tied to lending market liquidity, was exploited for around $9.5M (TB)

Extra Reads

• Tether CEO Paolo Ardoino said USDT and Bitcoin will become key currencies for AI agents - the full breakdown of the large claim here

Chart of the Day

USDT still dominates the stablecoin market

Meme Dump

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