New York and EU Regulators Unite to Oversee Stablecoins

​The European Banking Authority and the New York State Department of Financial Services (NYDFS) have signed a memorandum of understanding to police cross-border stablecoin activities.  The EBA said on Tuesday that the deal is part of its duties under the Markets in Crypto-Assets (MiCA) Regulation and sets out principles and procedures for exchanging information and…

Bitcoin Drops 7% to Nine-Week Low Amid US-Iran Strikes

Bitcoin prices have dropped 7% on the day, breaking key support to a nine-week low after the US and Iran launched fresh strikes as talks over a possible ceasefire have stalled.  Bitcoin (BTC) fell to $65,385 on Coinbase in early trading on Wednesday, its lowest level since late March, according to TradingView. The slump follows…

Cardano’s TapTools Winds Down After Losing 5 Execs

TapTools, a Cardano-focused real-time analytics platform, has begun winding down after its fifth top-level executive departure, compounding leadership instability and making continued operations unsustainable.  TapTools said in a post to X on Tuesday that it would begin winding down over the next two weeks, and noted the departure of its two co-founders, chief operating officer…

UK Lords Warn BoE on Strict GBP Stablecoin Rules

The United Kingdom should press ahead with stablecoin regulation but avoid rules that make a pound sterling stablecoin market commercially unworkable, a House of Lords committee warned in a report released Wednesday. The cross-party Financial Services Regulation Committee said the UK was “lagging behind” the United States and the European Union and that the absence…

Bitcoin’s slide to $67,000 is accelerating a shift into digital dollars

A week ago, CoinDesk informed readers of the renewed rotation of funds into dollar equivalents such as tether USDT$0.9987 and USD Coin (USDC) stablecoins as bitcoin BTC$66 725,29 pulled back from the early May highs above $80,000. That combination was an early warning sign of potential full-blown risk aversion in the crypto market. Those early warning…

XRP Analysis Sees ‘Bear Trap’ as Price Faces June Test

XRP (XRP) dropped to $1.25 on Tuesday after a market-wide sell-off, erasing all the gains made since early February.  Key takeaways: XRP fell to $1.25 after a broader market sell-off, testing a long-term trend line and the 50-month exponential moving average support area. Support weakness has traders looking at $1 and under next, while optimists…

$176B Crypto Crash: Bitcoin ETF Outflows And AI Stock Pivot Trigger Bear Run

Key takeaways: Bitcoin’s sharp 8% drop triggered $1.5 billion in forced liquidations, ending a tight two-month small-cap correlation. Worsening market sentiment was driven by $2.1 billion in Bitcoin ETF outflows and rising fears of a Federal Reserve interest rate hike. Bitcoin (BTC) faced a sharp 9% drop over 48 hours, hitting the $67,000 support for…

SEC Strategic Plan Backs Digital Assets, Blockchain Growth

The US Securities and Exchange Commission (SEC) has elevated digital assets to a strategic priority, calling for regulatory clarity around blockchain technology, tokenization and crypto market infrastructure through 2030. The shift was outlined in the agency’s draft Strategic Plan for fiscal years 2026–2030, published Tuesday. Alongside broader goals focused on capital formation, investor protection and…

How High Can NEAR Price Go in June?

NEAR, the native token of the AI- and privacy-focused Near Protocol, has been an outlier in the broader crypto market, outperforming top coins such as Bitcoin (BTC) and Ether (ETH) in recent weeks. As of Tuesday, NEAR traded as high as $2.75, marking a nearly 20% rebound in the last 24 hours. In comparison, the…

Bitcoin Fair Value Closer To $224K Based On Debt Risk Model: Bitwise

New reporting from Bitwise suggests that Bitcoin’s (BTC) undervaluation could expand if investors’ concerns over sovereign debt deepen. The asset management firm said that mounting pressure in global bond markets and rising government debt levels could strengthen Bitcoin’s role as a hedge against macroeconomic risks, with one valuation model suggesting a theoretical fair value of…