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Iran-linked entities moved $3.8B through CoinEx, TRM says

Iran-linked entities moved $3.8B through CoinEx, TRM says

podľa | jún 25, 2026 | 0 |

Wallets with identifiable links to sanctioned Iranian entities have moved over $3.84 billion through cryptocurrency exchange CoinEx since 2019, making it one of the main channels used to bypass US economic sanctions, according to blockchain analytics company TRM Labs.About 60 Iranian platforms were tied to the funds, with $2.7 billion of this flowing between CoinEx and Nobitex, Iran’s largest domestic cryptocurrency exchange, at an average rate of about $1 million per day since 2018, wrote TRM Labs in a Wednesday report.By 2024, CoinEx was Nobitex’s largest external counterpart, nearly nine times that of the next-largest exchange, a pattern that TRM Labs called “inconsistent with independent market behaviour.”The report comes three weeks after the US Treasury sanctioned four Iranian crypto exchanges as part of its “Economic Fury” campaign. Days before the sanctions, Treasury Secretary Scott Bessent said the Treasury had seized $1 billion in crypto from Iranian exchanges and wallets since the start of the war.In a statement published Thursday on X, CoinEx denied having any commercial relationship with the Iranian government or domestic Iranian exchanges and said it has never provided funding channels to sanctioned parties. The exchange also disputed TRM Labs’ interpretation of blockchain data, saying onchain fund flows do not demonstrate a platform’s knowledge of or participation in illicit activity.Iranian exchanges: CoinEx exposure & share volume, 2025. Source: TRM LabsTop Iranian exchanges route up to 10% of volume through CoinExMost of the major Iranian domestic exchanges route about 5% to 10% of their trading volume through CoinEx, indicating a “coordinated arrangement rather than organic adoption,” according to TRM Labs.CoinEx’s share of illicit transaction volume is nearly 8%, above the 0.3% threshold found at other compliant exchanges. Related: US authorities freeze $344M in crypto linked to IranCoinEx-affiliated mining pool ViaBTC accounted for another $154 million in traced exposure to Nobitex through mining payouts and supplied emergency liquidity to Nobitex following Predatory Sparrow’s $90 million hack in June 2025.Cointelegraph contacted ViaBTC for comment on TRM Labs’ findings but had not received a response by publication.Nobitex was at the center of Iran’s “digital dollar pipeline” and handled about 50% of the country’s crypto trading volume, according to a June 2 report by blockchain forensics platform Chainalysis.In May, Nobitex was reportedly linked to members of a powerful family with ties to Supreme Leader Ali Khamenei.In January, the Office of Foreign Assets Control sanctioned UK-registered Zedcex and Zedxion for being used as front companies for the Iranian Revolutionary Guard Corps (IRGC).Magazine: Inside the Iranian Bitcoin mining industry

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Kalshi sues Illinois officials over prediction markets restrictions

Kalshi sues Illinois officials over prediction markets restrictions

podľa | jún 24, 2026 | 0 |

Prediction markets company Kalshi has filed a lawsuit against state officials in Illinois over legislation it says “expressly bans sports event contracts” on its platform.In a Tuesday filing in the US District Court for the Northern District of Illinois, Kalshi alleged that Illinois Governor JB Pritzker, Attorney General Kwame Raoul, and other officials on the state’s gaming board “usurped” the authority of the US Commodity Futures Trading Commission (CFTC) over prediction markets. Specifically, the company alleged that legislation signed into law last week in Illinois, requiring prediction market platforms to be licensed in the state to offer sports event contracts, violated federal law. Kalshi claimed that it would be “irreparably harmed” when the law, Illinois Senate Bill 3019, takes effect on July 1.“If Kalshi complies with the new state law by ceasing to offer its sports event contracts in Illinois, that would put Kalshi in violation of the CFTC’s uniformity requirements, harm Kalshi’s commercial interests, and require the company to implement complex and expensive technological solutions to limit access in Illinois — incurring costs that would not be recoverable when Kalshi ultimately prevails in the action,” said the complaint.Source: PACERThe Illinois law, passed as part of a state budget package for the fiscal year 2027, included a 0.2% tax on crypto transactions and has already been heavily criticized by many in the industry. The legislation amended the state’s definition of an “exchange wager” to include “an agreement, contract, transaction, or swap that is offered, traded, or executed on a prediction market or exchange tied to a sporting contest or sporting event,” making prediction market companies subject to the same rules as entities offering sports betting.Related: Mark Zuckerberg ordered Meta staff to develop moneyless prediction market: NYT“[…] Kalshi faces similar irreparable harms if it attempts to comply with SB 3019 by offering sports events contracts in compliance with Illinois’s costly and restrictive licensing and regulatory regime,” said the company. “Nor can Kalshi avoid these harms by simply disregarding the unlawful state requirements because an enforcement action by Illinois could subject Kalshi to criminal penalties.”Legal fights eventually headed to the Supreme Court?Kalshi’s lawsuit was the latest in a jurisdictional fight between federal and state authorities over sports betting on prediction markets. The CFTC, headed by Commissioner Michael Selig, has claimed exclusive authority over the companies under the Commodity Exchange Act, arguing that the platform’s event contracts are “swaps” within its jurisdiction. The agency has filed several lawsuits against state authorities over this claim, most recently in response to Kentucky’s restrictions on prediction markets.Some experts expect that the legal battles will end up at the US Supreme Court, given the opposing claims by federal regulators and state gaming officials.Magazine: AI is banking the unbanked in Africa… faster than crypto

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Franklin Templeton files ETFs that turn stock dividends into Bitcoin exposure

Franklin Templeton files ETFs that turn stock dividends into Bitcoin exposure

podľa | jún 19, 2026 | 0 |

Global asset manager Franklin Templeton has filed for two exchange-traded funds (ETFs) designed to convert dividend income from US stocks into Bitcoin exposure, according to a June 18 filing with the US Securities and Exchange Commission (SEC).The proposed Franklin US Equity Bitcoin DRIP Index ETF and Franklin US Innovation Bitcoin DRIP Index ETF would track indexes that systematically reinvest stock dividends into a Bitcoin allocation, creating a rules-based Bitcoin exposure alongside traditional equity holdings.According to the filing, the funds would launch with a 5% allocation to Bitcoin exposure and a 95% allocation to US equities. Under the index methodology, regular and special dividends from the stock holdings would be reinvested into the index’s Bitcoin allocation, while quarterly rebalances would maintain the Bitcoin allocation within predefined limits.The filing states that the funds may gain Bitcoin exposure through a range of instruments, including Bitcoin exchange-traded products, futures contracts, options and Bitcoin-backed depositary receipts. The funds may also hold certain Bitcoin-related investments through a wholly owned Cayman Islands subsidiary.While the Equity ETF would track a broad US large-cap stock index, the Innovation ETF would track an index composed of the 100 largest non-financial companies listed on Nasdaq.Both funds would be structured as passive index ETFs tracking proprietary VettaFi indexes. The filing states that the underlying indexes would be rebalanced quarterly and reconstituted semiannually.Related: Bitcoin taps $63K on Juneteenth as July Fed rate-hike odds near 40%ETF issuers experiment with new Bitcoin strategiesFranklin Templeton’s filing comes as asset managers increasingly experiment with Bitcoin investment products that extend beyond traditional spot ETFs.Much of that innovation has focused on income generation. In January, BlackRock filed for the iShares Bitcoin Premium Income ETF, which would use an options strategy tied to Bitcoin and its spot Bitcoin ETF to generate additional returns. Goldman Sachs followed in April with plans for a Bitcoin income ETF that would invest in spot Bitcoin exchange-traded products and sell call options against those holdings to generate yield while reducing sensitivity to Bitcoin’s price swings. The following month, Hamilton ETFs entered the market with a proposed leveraged Bitcoin income fund in Canada built around covered-call strategies and short-term options contracts.Franklin Templeton’s filings come amid weaker demand for US spot Bitcoin ETFs, which recorded six consecutive weeks of net outflows between May 15 and June 18, according to SoSoValue data. US spot Bitcoin ETF weekly net flows. Source: SoSoValueMagazine: Bitcoin, the ‘canary in the coal mine,’ XRP transaction demand falls 91.5%: Market Moves

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US regulators push user ID requirements for stablecoin issuers akin to regulated banks

US regulators push user ID requirements for stablecoin issuers akin to regulated banks

podľa | jún 18, 2026 | 0 |

Several US government agencies responsible for financial regulation have issued a proposed rule as part of the implementation of stablecoin-focused legislation, pushing for similar identification guidelines for issuers as banks under federal law.The Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), National Credit Union Administration and the US Treasury’s Financial Crimes Enforcement Network (FinCEN) on Thursday proposed that stablecoin issuers be treated as regulated financial institutions in regard to verifying users’ identities. The proposed rule comes as part of the implementation of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, signed into law in July 2025.Source: Federal RegisterThe proposed rule, which will be open to public comment for 60 days after it is officially filed in the US Federal Register on Monday, is intended to address Anti-Money Laundering (AML) and Countering the Financing of Terrorism (CFT) requirements for stablecoin providers through the GENIUS Act. The minimum standards under the Bank Secrecy Act for financial institutions — potentially applied to stablecoin issuers under GENIUS — include “verifying the identity of any person seeking to open an account,” maintaining records of that information, and determining if the individual is a suspected terrorist or part of any terrorist organization.The agencies’ actions were the latest implementation related to GENIUS, largely championed by US stablecoin issuers. The law is expected to go into effect 18 months after it was signed or 120 days after federal authorities finalize regulations for implementation.Related: Banking group asks for more time to comment on US stablecoin billTreasury has already proposed AML and CFT requirements targeting illicit finance under GENIUS. In April, the FDIC suggested that rules providing insurance for corporate deposits of stablecoin issuers not extend to holders.GENIUS passed, CLARITY still being weighedAfter the passage of the GENIUS Act last year, the US Congress still has no defined timeline on addressing the Digital Asset Market Clarity (CLARITY) Act, a bill intended to redefine financial agencies’ roles in regulating and enforcing crypto rules. While many in the White House and Congress expect the bill to pass by the August recess, concerns voiced by Democrats over potential conflicts of interest from lawmakers and elected officials could slow progress.Magazine: The end of anon? AI could unmask crypto’s hidden identitiesCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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Wealthsimple launches Kalshi-powered prediction market app for Canadian investors

Wealthsimple launches Kalshi-powered prediction market app for Canadian investors

podľa | jún 18, 2026 | 0 |

Canadian fintech Wealthsimple is launching a prediction markets app powered by Kalshi, giving that country’s retail investors access to thousands of event-based contracts following regulatory approval earlier this year.The standalone app, called Wealthsimple Predict, is scheduled to launch this summer and will offer Canadian users access to about 4,000 event contracts listed on Kalshi across categories including financial markets, economic indicators and climate.Source: KalshiThe Canadian Investment Regulatory Organization (CIRO) in March authorized the firm to offer prediction market contracts tied to those categories. It is the second investment dealer authorized by CIRO to offer prediction market trading in Canada. The contracts will be regulated as derivatives and must have settlement periods of at least 30 days.The Canadian rollout comes as Kalshi expands beyond prediction markets. On Thursday, the company said that its perpetual futures products were now live for trading, following a May 31 announcement that marked the company’s entry into the crypto perpetual futures market.Source: KalshiRelated: Kentucky sues Kalshi, Polymarket, joining prediction market legal battleCME pushes back against CFTC’s crypto derivatives stanceKalshi’s expansion beyond prediction markets is already facing pushback from established derivatives exchanges. On Thursday, CME Group sued the US Commodity Futures Trading Commission (CFTC) over its approval of cryptocurrency perpetual futures contracts offered by Kalshi and similar products by Coinbase, arguing the regulator misclassified the products under federal law. The filing followed comments from CME CEO Terrence Duffy a day earlier that the exchange planned to challenge the approvals in court.CME CEO Terry Duffy. Source: CNBC Fast MoneyThe lawsuit comes amid a broader push to bring crypto perpetual futures onshore. In May, the CFTC approved Bitcoin perpetual futures contracts for Kalshi and issued a no-action position allowing Coinbase to offer similar products. Since then, Coinbase expanded US institutional access to global crypto derivatives markets, while Kraken launched perpetual futures trading this week through its CFTC-regulated Bitnomial exchange.Related: BBB National Programs refers prediction market Kalshi to state regulators over ad inquiryCountries push back against prediction marketsDespite gaining traction in Canada, prediction markets continue to face regulatory resistance in several jurisdictions. In May, Spanish regulators ordered internet providers to block access to Kalshi and Polymarket while investigating whether the platforms were operating in violation of national gambling regulations.Asian regulators have also moved against prediction markets. Indonesia recently banned Polymarket after users traded contracts tied to whether President Prabowo Subianto would leave office early, while Japanese crypto exchange Bitbank warned users over Polymarket-linked transfers and South Korean police reportedly investigated local users over alleged gambling violations.In the United States, at least 11 states have challenged prediction markets in recent months. At the center of the dispute is whether event contracts should be regulated under state gambling laws or as federally regulated derivatives overseen by the CFTC.Speaking at Bitso’s Stablecoin Conference in Mexico City on June 16, Digital Chamber CEO Cody Carbone said the growing conflict between the CFTC and state gambling regulators is likely headed for the US Supreme Court.Source: CointelegraphMagazine: The end of anon? AI could unmask crypto’s hidden identities

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Crypto-backed GOP candidate wins Alabama Senate runoff with June primaries looming

Crypto-backed GOP candidate wins Alabama Senate runoff with June primaries looming

podľa | jún 17, 2026 | 0 |

More than $12 million in crypto-aligned political action committee (PAC) media buys helped propel Barry Moore to victory in Tuesday’s Alabama Republican US Senate runoff over Barry Moore.The runoff was necessary after neither candidate was able to secure a majority of the vote on May 19, Moore will be the Republican candidate for a US Senate seat in Alabama, facing off against Democrat Everett Wess. Moore won with 55.8% of the vote to Hudson’s 44.2%, giving him an opportunity to replace outgoing Republican Senator Tommy Tuberville. Filings with the Federal Election Commission (FEC) showed that the Defend American Jobs PAC, a committee affiliated with the cryptocurrency company-backed Fairshake, spent more than $12 million on media and ads to back Moore’s candidacy in the May 19 primary and Tuesday’s runoff. The Coinbase-affiliated advocacy organization Stand With Crypto rated Moore as “strongly supports crypto,” based on public statements and his voting record while representing Alabama’s 1st Congressional district.“Our biggest spend of the cycle yielded yet another pro-innovation champion in the Senate, and with nearly $150 million cash on hand we are ready to continue driving the construction of the largest pro-crypto caucus in history,” said Fairshake spokesperson Geoff Vetter.Source: NBC NewsRelated: US lawmakers warn against presidential pardon for Sam Bankman-FriedBased on Vetter’s statement, Fairshake and its affiliates may have spent more than $40 million across several US states in an attempt to support what it considers “pro-crypto” candidates for the next session of Congress. The PAC reported holding a $193 million war chest as of January.More primaries set for next week before November general electionThe Alabama runoff was the latest vote that’s seen industry PACs spending millions of dollars on media for candidates facing primaries in several US states, including South Carolina, Texas, California, South Dakota and New Jersey. Fairshake affiliate Protect Progress also reported spending about $5.2 million and $587,000 in media buys for House seats, respectively, for Maryland Democrat Adrian Boafo and fellow party member Ritchie Torres in New York, scheduled to hold primaries on June 23.Magazine: The end of anon? AI could unmask crypto’s hidden identitiesCointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

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Kalshi adds software partner as it looks to boost prediction market surveillance

Kalshi adds software partner as it looks to boost prediction market surveillance

podľa | jún 17, 2026 | 0 |

Prediction market Kalshi has partnered with compliance software provider StarCompliance to launch a monitoring platform designed to help financial companies oversee employee activity on prediction markets, as the sector faces increased scrutiny over insider trading and the use of non-public information.According to Wednesday’s announcement, the system is intended to flag employee activity based on transaction volume, trading patterns, market categories and work-hour activity, while giving firms a centralized way to manage investigations and audit records tied to prediction market exposure across onchain and offchain environments.The launch comes days after a federal judge set a December trial date for US Army Master Sgt. Gannon Ken Van Dyke, who prosecutors allege used non-public information about a military operation targeting Venezuelan President Nicolás Maduro to earn more than $400,000 on prediction market platform Polymarket. Van Dyke has pleaded not guilty to the charges.StarCompliance said the product is designed to address potential risks around material non-public information, as employees at financial firms may be able to use sensitive business or market information to trade event contracts.The new monitoring capability extends StarCompliance’s existing employee compliance platform, which already tracks traditional securities and digital asset activity, to include prediction market trading through Kalshi.Related: Coinbase eyes World Cup boost as prediction markets surge: BernsteinPrediction markets face growing regulatory and lawmaker scrutinyThe launch comes as prediction markets face increasing scrutiny in the United States, where at least 11 states have taken legal or regulatory action against platforms such as Kalshi and Polymarket.At the center of the dispute is whether event contracts should be regulated under state gambling laws or as federally regulated derivatives overseen by the Commodity Futures Trading Commission (CFTC). The conflict has produced a patchwork of lawsuits, cease-and-desist orders and proposed legislation. Nevada became the first state to temporarily block Kalshi’s operations earlier this year, while Arizona accused the company of operating an illegal gambling business by offering event contracts to state residents.Prediction market operators and the CFTC have pushed back. At the end of May, Kalshi sued Minnesota after the state enacted what CFTC Chair Michael Selig described as the country’s first outright ban on prediction markets. Around the same time, the CFTC joined Kalshi in a separate legal challenge against Rhode Island officials over the regulation of event contracts.Last week, the CFTC sued New Mexico officials after the state accused Kalshi of offering unlicensed sports betting. The case marked the eighth state targeted by the agency as it seeks to block state-level restrictions on prediction market platforms. Last month, Representative James Comer asked CEOs of Kalshi and rival Polymarket for information on their responses to insider trading after “suspiciously timed trades” related to US military actions against Iran.Source: Representative James ComerPrediction market jurisdiction fight could reach Supreme CourtSpeaking on a panel at Bitso’s Stablecoin Conference in Mexico City on June 16, industry advocacy group Digital Chamber’s CEO Cody Carbone said the dispute between federal regulators and state authorities will likely play out over the next few years. He said:It’s going to be a very heated battle that the courts are going to have to weigh in on.The advocacy executive said the Trump administration has broadly backed Selig’s efforts to position the CFTC as the primary regulator of prediction markets, though he expects ongoing disputes with state gambling regulators to eventually reach the US Supreme Court.He added that US lawmakers are also debating what types of event contracts should be permitted, including markets tied to politics and war, while insider trading concerns are likely to remain a focus of future legislation and regulatory oversight.Magazine: The end of anon? AI could unmask crypto’s hidden identities

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Bitcoin tops $67K following US-Iran peace deal: Is it a bull trap?

Bitcoin tops $67K following US-Iran peace deal: Is it a bull trap?

podľa | jún 17, 2026 | 0 |

Key takeaways:Bitcoin derivatives show weak conviction with 2% futures basis and elevated put options premium signaling caution.Institutional buying via $86 million ETF inflows plus Strategy’s (MSTR US) ongoing accumulation counters market fear.Bitcoin (BTC) jumped above $67,000 after US President Donald Trump announced a late Sunday ceasefire deal with Iran. Despite this short-term optimism, derivatives metrics show that crypto traders remain highly skeptical, raising concerns that this sudden rally could be a massive bull trap.Brent crude oil (left) vs. Nasdaq 100 Index (right). Source: TradingViewCrude Brent oil declined to a 100-day low on Monday, while the Nasdaq Index gained 3%. However, Bitcoin traders remained cautious due to the lack of a final deadline and clear operational details for shipping companies following the peace deal with Iran, though an interim agreement is expected this Friday. Bitcoin 2-month futures basis rate. Source: LaevitasThe Bitcoin futures annualized premium (basis rate) stood at 2% on Monday, signaling a lack of demand for leveraged bullish positions. This indicator has failed to break above the neutral 4% threshold for over 3 months, reflecting Bitcoin’s -24% year-to-date performance. Still, Bitcoin’s 4% daily spike caught short sellers off-guard, triggering $210 million in liquidations.Bitcoin price is supported by spot ETF inflows and Strategy acquisitionsPart of the bullish sentiment stemmed from the $86 million net inflows into US-listed spot Bitcoin exchange-traded funds (ETFs) on Friday. While positive, this inflow was not nearly enough to reverse the heavy $730 million in net outflows seen since June 5. ETF activity is widely tracked as a proxy for institutional demand, bulls are likely waiting for stronger confirmation.Bitcoin 30-day options skew (put-call). Source: LaevitasThe weak conviction among bulls was also evident in the options market, where traders actively avoided protection against downside risk. Bitcoin put (sell) options traded at a 16% premium over call (buy) instruments, flashing a clear warning sign of downside fear. This crypto weakness stood out even more as the Nasdaq 100 Index rallied, trading just 1% shy of its all-time high.Traders’ skepticism is also being fueled by conflicting claims over future shipping tolls in Iran, especially since the current agreement only locks in a two-month window, according to Yahoo Finance. Meanwhile, equity investors are finding plenty of reasons for optimism elsewhere, with the artificial intelligence sector getting a massive boost from the record-breaking SpaceX (SPCX US) IPO.Public companies Bitcoin treasury ranking, BTC. Source: CoinGeckoSpaceX, the aerospace and artificial intelligence powerhouse founded by Elon Musk, recently secured $75 billion in the largest IPO in history. SPCX shares surged 14% on Monday, driving the company’s valuation to a massive $2.1 trillion. The multi-billionaire is a vocal proponent of cryptocurrencies, and the latest SEC filings reveal that SpaceX itself holds 18,712 Bitcoin on its balance sheet.Related: These Bitcoin charts show how BTC price could hit $100K before OctoberFor now, Bitcoin bears maintain control as persistent weakness across derivatives markets shows low conviction in the $60,000 support level. However, a sustained rally back above $70,000 could quickly materialize if falling oil prices continue to ease recession risks, giving the Federal Reserve more room to implement a less restrictive US monetary policy.There is no indication of a bull trap here, especially as Strategy (MSTR US) continues to aggressively accumulate coins, completely erasing market fear of a sudden capitulation.

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Crypto PAC has $12M stake in Senate primary runoff as Alabama voters head to polls

Crypto PAC has $12M stake in Senate primary runoff as Alabama voters head to polls

podľa | jún 16, 2026 | 0 |

Defend American Jobs, the cryptocurrency company-backed political action committee (PAC) affiliated with Fairshake, reported spending millions of dollars to support a Republican candidate’s run for a US Senate seat in the party’s Tuesday primary runoff in Alabama.As of Tuesday, filings with the Federal Election Commission (FEC) showed that Defend American Jobs had spent more than $4.7 million on media and ads to back Republican Barry Moore’s candidacy in a runoff for one of Alabama’s US Senate seats, adding to the $7.4 million it reported spending ahead of his May 20 primary. Moore, who also has the endorsement of US President Donald Trump, is running against Jared Hudson, another Republican vying to replace Tommy Tuberville, who announced that he would not be seeking reelection, as he is focused on becoming the state’s next governor.Source: Federal Election CommissionThe Coinbase-affiliated advocacy organization Stand With Crypto rated Hudson as “neutral” on crypto policy compared to Moore’s “strongly supports crypto,” based on public statements and Moore’s voting records while representing Alabama’s 1st Congresssional district. Hudson publicly acknowledged that “Big Crypto” did not back his candidacy, but he has supported the crypto market structure bill under consideration in the US Senate.The Alabama runoff will be another test of the crypto industry’s influence in US elections, with Fairshake and its affiliates having already poured millions of dollars into media for candidates facing primaries in Texas and California. Following Tuesday’s vote in Alabama, the PACs will also have stakes in Maryland and New York later this month, backing Democrats Adrian Boafo and Ritchie Torres with about $5 million and $500,000 in media buys for House seats, respectively.Related: Crypto PAC-supported candidates sweep US state primaries after media buysThe Blockchain Leadership Fund, a hybrid PAC backed by Anchorage Digital and Chainlink, announced its support for Moore in May, but FEC filings showed no related expenditures as of Tuesday. The Fellowship PAC, another PAC backed by $11 million from Cantor Fitzgerald and Anchorage, disclosed $350,000 in spending to support Moore’s run.Fairshake reported holding a $193 million war chest as of January, setting the stage for significant potential influence in this year’s US House and Senate races. The PAC has publicly stated its intention to “oppose anti-crypto politicians and support pro-crypto leaders” through media and ads.Majority control of Senate can determine passage of crypto-related billsWith Democrats having been in the minority in both the House and Senate in the current session of Congress, the party is fighting to regain control of both chambers starting in 2027. Republicans currently hold a slim majority on both sides of the Capitol, enabling them to set the agenda for policies, including crypto-related legislation like the Digital Asset Market Clarity (CLARITY) Act. The bill passed the House in July 2025 but has faced delays in the Senate amid debates over stablecoin rewards, ethics and tokenized equities.Magazine: China’s 107 Bitcoin memory thief, Bithumb CEO booked: Asia Express

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State Street launches GENIUS Act-aligned money market fund for stablecoin reserves

State Street launches GENIUS Act-aligned money market fund for stablecoin reserves

podľa | jún 16, 2026 | 0 |

State Street Investment Management has launched a money market fund designed for stablecoin issuers, offering a vehicle for holding reserve assets under the framework established by the GENIUS Act. The fund is structured as a Rule 2a-7 government money market fund and will invest in assets commonly used to back stablecoins, including US government securities and repurchase agreements. The fund’s initial investors include State Street Bank and Anchorage Digital, a federally chartered crypto bank.State Street said the product was designed to comply with reserve requirements established under the GENIUS Act, which was signed into law on July 18, 2025, creating the first federal regulatory framework for payment stablecoins in the United States.The launch follows the introduction of the State Street Galaxy Onchain Liquidity Sweep Fund (SWEEP), a tokenized liquidity product developed with Galaxy Digital that enables onchain cash management using stablecoins.State Street Investment Management, the asset management arm of State Street Corporation, oversees more than $5 trillion in assets and is one of the world’s largest investment managers.Related: Bitwise completes takeover of Superstate’s $259M crypto carry fundAsset managers compete for stablecoin reserve assetsState Street’s launch comes as financial firms rush to develop products aimed at managing assets that back stablecoins following the passage of the GENIUS Act.In May, JPMorgan filed to launch JLTXX, a tokenized money market fund intended to hold assets backing stablecoins while complying with requirements established under the GENIUS Act. The fund would invest in US Treasury bills and overnight repurchase agreements, assets commonly used to back dollar-pegged stablecoins.The filing came weeks after Morgan Stanley launched its Stablecoin Reserves Portfolio, a money market fund that allows stablecoin issuers to hold reserve assets while earning interest.In June, Coinbase disclosed an investment in the ProShares GENIUS Money Market ETF, a Treasury-focused fund that invests in assets eligible to back payment stablecoins under the law. The exchange said the investment aligned with its expanding stablecoin and cash management businesses.The stablecoin market has grown to approximately $315 billion from about $260 billion when the GENIUS Act was signed into law, according to DefiLlama data. State Street cited projections from Citi estimating global stablecoin issuance could reach between $1.9 trillion and $4 trillion by 2030.Source: DefiLlama The market for stablecoin reserve assets has expanded alongside stablecoin adoption. According to Tether’s March 2026 reserves report, the company held approximately $191.8 billion in assets backing USDT (USDT), with US Treasury bills accounting for the majority of its cash-equivalent reserves. Magazine: Bitcoin, the ‘canary in the coal mine,’ XRP transaction demand falls 91.5%: Market Moves

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