Crypto Bites | Recap 13062025
Hello frens, check out the coolest crypto news for today:
US Senate schedules final GENIUS stablecoin bill vote for June 17
The U.S. Senate is set to hold its final vote on the GENIUS Act next Tuesday, June 17. If approved, the bill will move to the House for further voting; the House has its own stablecoin legislation, the STABLE Act. The GENIUS Act aims to establish a legal framework for stablecoins, requiring full backing by U.S. dollars or liquid assets and annual audits for issuers over $50 billion. Both chambers need to reconcile their bills, which differ on regulation of stablecoin issuers and oversight of foreign issuers like Tether. Stablecoin legislation has gained momentum, with President Trump endorsing it and Treasury officials projecting the market could surpass $2 trillion by 2028. The current USD stablecoin market cap is approximately $252 billion, according to CoinGecko data.
Coinbase sees bullish crypto outlook for 2025, but flags ‘systemic risks’ from leveraged corporate bitcoin bets
Coinbase Institutional forecasts a constructive second half of 2025 for crypto, driven by improved U.S. growth, potential Fed rate cuts, and clearer regulation, with Bitcoin expected to reach new all-time highs. Risks include a steepening yield curve and potential forced selling from publicly traded crypto firms, but these are considered manageable in the short term. Corporate Bitcoin holdings have surged to over 820,000 BTC across 228 firms, with some using leveraged funding models, raising concerns about systemic risks from debt-driven asset accumulation. The rise in Bitcoin wallet balances over $1 million highlights growing institutional interest, though ownership concentration risks are noted by regulators like Sygnum. U.S. recession fears have eased, with stronger GDP data and fading trade disruptions supporting a bullish outlook; upcoming crypto regulations and SEC ETF reviews could influence market dynamics into 2026. Coinbase remains confident in Bitcoin’s upward trajectory, though only select altcoins may perform well depending on their unique circumstances.
Walmart, Amazon Mull Dollar-Pegged Stablecoins in the U.S.: WSJ
Walmart and Amazon are exploring issuing their own stablecoins in the U.S. to cut card processing fees and speed up cross-border payments, potentially challenging traditional banks and card networks like Visa and Mastercard. The move depends on the passage of the Genius Act, a proposed stablecoin regulation bill in Congress, which could enable large companies to issue or adopt stablecoins as alternative payment methods. Both companies are still in early stages, considering private coins or third-party stablecoin partnerships, with Walmart also lobbying for increased credit-card competition. The development signals a potential shift in retail payments, leveraging dollar-pegged stablecoins to reduce merchant fees and improve transaction efficiency. Walmart and Amazon did not comment immediately; the regulatory environment remains a key factor for their plans. This initiative could contribute to a long-term crypto bull market if stablecoin regulation advances successfully.
AURA Memecoin Mints Millionaires After Inexplicable 21,000% Rise
AURA, a Solana memecoin launched in May 2024, surged 21,000% in the past week, turning some investors into millionaires within hours. The token previously hit a $70 million market cap in July 2024 but declined after the LIBRA memecoin scandal and AI-driven degen trends. AURA's market cap hit a low of $500,000 in April, with brief relief rallies up to $2 million in May, likely driven by insider accumulation. The recent meteoric rise occurred without any clear catalyst, raising questions about the token's organic growth. Onchain data shows 215 addresses spent $4 million to acquire 30% of AURA's supply, with Bubblemaps sarcastically noting the move as “totally organic.” The surge highlights the volatile and unpredictable nature of memecoins on Solana, especially after periods of decline.
SEC, Ripple ask for ruling tied to $125 million fine in latest filing as they look to wrap up years-long case
Ripple and the SEC are seeking a court ruling to resolve their nearly five-year legal battle, focusing on a $125 million fine and potential settlement adjustments. Both parties propose dissolving the injunction against Ripple, with $50 million of the fine going to the SEC and $75 million to Ripple, aiming to promote settlement efficiency. The case stems from the SEC’s 2020 claim that Ripple’s XRP sales were unregistered securities, with Judge Torres ruling some sales legal but others, especially to institutional investors, subject to fines. Ripple’s CEO indicated in March that the legal battle was effectively over after the SEC dropped its appeal, with the latest focus on the $125 million fine. The court last month rejected a request for a preliminary ruling, citing the high burden to vacate the injunction and emphasizing “exceptional circumstances” for modifying the judgment. Both parties highlighted recent SEC regulatory shifts, including investigations dropping and the formation of a crypto task force, as reasons justifying settlement and case resolution.
Coinbase to Integrate Base DEXs on its Main App
Coinbase announced integration of decentralized exchanges from Base directly into its main app, starting with Aerodrome, which saw an 18% rally on the news. The move aims to make onchain assets more accessible, with plans to expand to other networks like Solana and Ethereum. Coinbase also revealed upcoming launch of perpetual futures trading in the U.S., following recent regulatory signals. The exchange introduced a Coinbase One Card offering up to 4% cash back in Bitcoin, linked to its American Express partnership. Despite the news, Coinbase’s stock (COIN) declined 3.84% today. The announcements highlight Coinbase’s push into DeFi and derivatives, amid ongoing regulatory and market challenges.
Coinbase Global Inc. to Launch Cryptocurrency Perpetual Futures Trading for U.S. Users
Coinbase announced plans to launch perpetual futures trading for U.S. users, expanding its derivatives offerings. The new product aims to give U.S. traders more options in the crypto derivatives market. This move marks Coinbase’s effort to strengthen its position in crypto trading and product diversity within the U.S. The launch is part of Coinbase’s broader strategy to compete in the evolving crypto derivatives space. No specific timeline for the rollout has been disclosed as of June 12, 2025.
Coinbase to Launch Bitcoin Rewards Card With Amex, While Eyeing U.S. Futures Expansion
Coinbase plans to launch a credit card offering 4% bitcoin cashback in partnership with American Express. The move aligns with a trend of crypto exchanges introducing payment cards to spend digital asset holdings for everyday purchases. The announcement coincides with Coinbase's potential plans to bring perpetual futures trading to the U.S.
Coinbase Outlines Top 3 Trends Set to Shape Crypto Markets in H2 2025
Coinbase identifies three key trends for the crypto market in H2: improved macroeconomic conditions, rising corporate crypto demand, and clearer regulations. An optimistic economic outlook with reduced recession risks and a potential Fed rate cut could fuel further crypto market growth. Coinbase highlights growing corporate crypto holdings and new investment strategies, as well as clearer regulatory frameworks for stablecoins.
SEC Chair Paul Atkins exorcises Gensler with sweeping crypto rule rollbacks
The SEC withdrew more than a dozen Gensler-era crypto rule proposals. Critics argued they threatened devs, DeFi, and even crypto chat groups. The qualified custody rule risked cutting off institutional access to crypto.
The Power of Crypto Wealth: How New Millionaires Are Redefining Global Giving
Vitalik Buterin has donated millions to humanitarian causes, including support for healthcare, education, and Ukraine relief efforts. Chris Larsen, co-founder of Ripple Labs, has made significant contributions to education, food security, and public safety. Yam Karkai’s World of Women (WoW) project has donated $3 million to causes promoting diversity, environmental sustainability, and support for conflict zones.