Crypto News
Bitcoin Crashes to 21-Month Low as Fed Rate Fears Intensify
Bitcoin plunged to a 21-month low of $59,103 on Wednesday, with the world’s largest cryptocurrency now hovering near $61,500 as markets brace for a critical core PCE inflation reading due Thursday morning. The sell-off has claimed nearly $1 billion in liquidated futures positions and marked the fifth consecutive day of net outflows from US spot...
Senate Crypto Bill Collapses Over Ethics Language, August Deadline at Risk
Bipartisan negotiations over America’s most significant crypto legislation collapsed this week when Senate Republicans and the White House withdrew a provision granting state attorneys general enforcement powers over ethics violations, leaving the Digital Asset Market Clarity Act’s passage odds at roughly 50-50 for 2026 and trading markets pricing the bill at just 48% likelihood before...
Bitcoin, Ethereum Hit Two-Week Lows as Fed Hawkishness Spooks Investors
Bitcoin and Ethereum tumbled to two-week lows on Wednesday as a strong dollar, hawkish Federal Reserve signals, and a broad retreat from risk assets sent both major cryptocurrencies into capitulation mode. Bitcoin opened at $62,660.11, down 2% from Tuesday’s open, while Ethereum started the session flat at $1,665.13—the lowest opening prices for both assets in...
Here’s What Happened in Crypto Today
Bitcoin fell 2.5% to $62,000 as Federal Reserve official Kevin Warsh extinguished market hopes for near-term rate cuts, while the European Union handed an enforcement deadline to unlicensed crypto firms and the Ethereum Foundation announced significant restructuring involving 54 staff reductions and a 40% budget cut. The selloff underscores mounting pressure on digital assets from...
Ethereum Foundation Cuts 54 Staff, Slashes Budget 40%
The Ethereum Foundation announced a sweeping organizational restructuring on June 23-24, eliminating 54 positions—roughly 20% of its approximately 270-person workforce—and cutting its 2026 budget by approximately 40%. The cuts mark the culmination of months of senior leadership turnover and represent a deliberate pivot away from the Foundation’s historical role as Ethereum’s central development engine toward...
Ripple Wins EU CASP License Before MiCA July 1 Deadline
Ripple has secured preliminary approval for a Crypto Asset Service Provider license from Luxembourg’s financial regulator, enabling the payments firm to scale regulated digital asset services across the entire European Economic Area. The milestone arrives just eight days before the European Union’s hard MiCA enforcement deadline of July 1, 2026, positioning Ripple among fewer than...
Fed’s Warsh Kills Rate-Cut Trade; Bitcoin Slides to $62K
Bitcoin plunged toward $62,000 on Tuesday as Federal Reserve Chair Kevin Warsh’s hawkish policy stance eliminated the rate-cut expectations that have underpinned crypto’s 2026 rally. The move triggered $717 million in liquidations across crypto markets and marked a dramatic reversal of sentiment just one week after Warsh’s debut FOMC meeting signaled a more aggressive stance...
EU Sets July 1 Deadline for Unlicensed Crypto Firms to Exit
The European Securities and Markets Authority has issued a final enforcement deadline requiring all unlicensed cryptocurrency service providers to cease EU operations by July 1, 2026, marking the first major regulatory crackdown under Europe’s Markets in Crypto-Assets regulation. The order, issued June 23, affects an estimated 900 to 1,000 firms currently operating without proper licensing...
Bitcoin Tumbles 2.5% as Fed Rate Hikes Loom; On-Chain Activity Paradox Deepens
Bitcoin and Ethereum both suffered significant losses overnight, with BTC dropping 2.5% to $62,300 and ETH falling more than 4% as $717 million in liquidations rippled across the crypto market. The selloff reflects broader market anxiety tied to anticipated Federal Reserve rate hikes, yet an unusual disconnect has emerged between this price weakness and record-high...
Here’s What Happened in Crypto Today
A significant layer-2 exploit, major legislative victory for stablecoins, and growing economic headwinds have defined crypto markets today, with the Ethereum Foundation’s substantial restructuring adding to sentiment volatility. The Taiko bridge incident highlights persistent security risks in scaling infrastructure, while a Senate-backed CBDC moratorium provides unexpected regulatory clarity through 2030. Meanwhile, Federal Reserve hawkishness and...
Ethereum Foundation Cuts Budget 40%, Lays Off 54 Staff Amid Protocol Maturity
The Ethereum Foundation announced a sweeping 40% budget reduction and 20% workforce cut affecting 54 employees, signaling a fundamental shift toward a lean, endowment-based operating model as the protocol nears maturity. Co-Executive Director Hsiao-Wei Wang’s resignation marks the ninth senior departure since January, underscoring organizational strain even as Vitalik Buterin frames the restructuring as strategic...
Cardano Launches Leios Testnet for 10-65x Scaling Upgrade
Cardano launched its highly anticipated Leios testnet today, marking a watershed moment for the blockchain’s decade-long quest to achieve enterprise-grade transaction throughput without sacrificing decentralization. The first public deployment of Ouroboros Leios, a new consensus protocol designed to deliver 10 to 65 times the current network capacity, went live on June 23, 2026, positioning the...