TL;DR

US Senate passes stablecoin bill; Solana/XRP ETF odds hit 95%; Coinbase wins first EU-wide MiCA license.

Highlights

• U.S. Senate passed the GENIUS Act, the first federal stablecoin bill; Circle shares surged, Chainlink seeks to set standards in reserve verification and interoperability 12.
• Bloomberg analysts raised SEC approval odds for Solana , XRP , and Litecoin spot ETFs to 95%; other major altcoins also likely 4.
• Coinbase secured the first EU-wide MiCA license via Luxembourg, shifting its European hub and gaining access to all 27 EU states 3.
• BlackRock added 454 BTC amid $500M in liquidations; Cardone Capital plans $1B Bitcoin allocation; Kindly MD/Nakamoto Holdings raised $51.5M for a large public BTC treasury 513.
• Texas established a state-managed Bitcoin reserve; Wyoming to launch the first U.S. state-issued fiat-backed stablecoin (WYST) on Aptos and Solana in August 67.
• Whale accumulation dominates: 89% of BTC network volume now from $100K+ transactions; 37,000 retail holders exited; ETH whales bought over 116,000 ETH since June 11 1014.
• OKX launched xBTC, a 1:1 Bitcoin -backed asset, on Solana with $250K+ in DeFi incentives from Kamino Finance and Orca 9.
• Norway plans to ban new power-intensive crypto mining centers this autumn, despite ongoing corporate BTC accumulation 12.
• Security breaches: a16z and AbstractChain Twitter accounts hacked; CoinMarketCap front end compromised with wallet phishing pop-up 8.
• Bubblemaps launched V2 analytics on The Open Network (TON); Jupiter Exchange integrated the tools; BMT token up 46% in 30 days 17.
• Sahara AI’s $SAHARA token to list on OKX and Binance Alpha June 26, with a 28M token airdrop 19.
• France reported a wave of crypto-related kidnappings; draft legislation proposed to shield crypto figures’ private data 15.

Commentary

U.S. regulatory momentum is front and center: the Senate’s passage of the GENIUS Act sets a federal framework for stablecoins, with immediate market impact seen in Circle ’s rally and renewed institutional focus on reserve-backed tokens 12. Chainlink ’s engagement with U.S. regulators to embed its Proof of Reserve and interoperability protocols signals a push for technical standards as stablecoin oversight tightens 2. These developments are likely to accelerate institutional adoption and infrastructure buildout, especially on Ethereum and cross-chain platforms 2.

ETF sentiment remains highly constructive. Bloomberg’s analysts now see a 95% chance for SEC approval of Solana , XRP , and Litecoin spot ETFs, with other major altcoins also in the pipeline 4. This regulatory shift could drive capital rotation toward ETF-eligible assets, particularly as institutional players like BlackRock , Cardone Capital, and Kindly MD/Nakamoto Holdings increase direct Bitcoin exposure and treasury allocations 513. State-level moves—Texas’s Bitcoin reserve and Wyoming’s imminent launch of the WYST stablecoin—highlight growing public-sector participation and diversification in digital assets 67.

On-chain, the market is increasingly dominated by large players: whales now account for nearly 90% of Bitcoin transaction volume, while retail exits continue 14. ETH whales have accumulated over 116,000 ETH since June 11, even amid unrealized losses and volatile price action 10. DeFi and cross-chain activity are expanding, with OKX ’s xBTC launch on Solana and new liquidity incentives, as well as analytics tools like Bubblemaps V2 rolling out on TON 917.

Security remains a persistent operational risk, with high-profile social media account hacks and a phishing attack on CoinMarketCap ’s front end 8. Traders should review wallet permissions and remain vigilant. Meanwhile, regulatory divergence is evident: Norway is set to ban new power-intensive mining centers, contrasting with ongoing corporate BTC accumulation in the region 12. In France, a spike in crypto-related kidnappings is prompting legislative action to protect investor privacy 15.

Traders should monitor U.S. House progress on stablecoins, SEC ETF review timelines, and MiCA-driven expansion in the EU 13. Watch for capital flows into ETF-eligible altcoins, whale-driven market structure shifts, and ongoing security developments.