Executive brief
The digital asset market is navigating a complex intersection of institutional advancement and significant security headwinds. Bitcoin has stabilised near the $63,000 to $64,000 zone as broader financial markets react to potential geopolitical de-escalation. Hopes for a deal between the US and Iran to reopen the Strait of Hormuz have sent the S&P 500 to a record $70 trillion market cap, while US oil prices collapsed below $76 per barrel. However, the crypto-native sector remains under pressure from an active Coldcard wallet exploit, with losses now estimated to reach $130m across more than 7,700 affected addresses. This incident highlights a critical risk in self-custody entropy, forcing a massive migration of funds that has distorted onchain indicators.
Institutional adoption continues to provide a structural driver for the industry. BNY Mellon, the world’s largest custodian bank, has announced plans to launch crypto staking services in partnership with Galaxy, while Wells Fargo is introducing tokenized deposits for corporate clients. BlackRock has also expanded its footprint by debuting tokenized access to money market funds in Europe. Despite these milestones, regulatory progress in Washington has stalled. The Clarity Act sits idle as key policy architects, including Tyler Williams and Hester Peirce, depart their roles, leaving the industry facing a personnel gap before the summer recess. Concurrently, US Senators have requested an SEC investigation into Trump’s memecoin, accusing the project of a rug pull after a 95% price decline.
Looking forward, the market faces a directional cue from Friday’s US employment report. If labor data remains moderate, Bitcoin may find a path toward $65,000; however, strong payroll figures could turn $62,000 into a trapdoor for further downside. Investors should note the opportunity in the growing $16.2b market for tokenized US Treasuries, which are increasingly being used as onchain collateral, even as retail trading volumes hit a yearly low of $15b.
1) Top 20 news headlines
- Coldcard Bitcoin theft reaches $130m across four confirmed waves; researchers have linked the losses to a firmware defect affecting 7,700 addresses.
- BNY Mellon to add crypto staking to digital asset custody platform; the bank selected Galaxy to provide infrastructure for institutional investors.
- Wells Fargo to offer tokenized deposits for 24/7 corporate payments; the service will run on the bank’s proprietary blockchain.
- US Senators ask SEC to investigate Trump memecoin; Elizabeth Warren and Richard Blumenthal cited concerns over the token’s 95% decline.
- Bitcoin’s $63,000 zone emerges as key battleground for buyers; Glassnode notes retail and whale interest near the 200-week moving average.
- BlackRock debuts tokenized access to $311b of money market funds in Europe; the firm is expanding its onchain shares and reinvestment stablecoin funds.
- Hashdex to close its spot Bitcoin ETF as inflows dwindle; the DEFI fund held only $14.7m under management.
- FBI agent arrested for alleged theft of $1m in crypto; the agent reportedly took funds from wallets investigated by the agency.
- Bitmine adds $19.6m in ETH as it targets 5% supply acquisition; the firm purchased 10,399 ETH and repurchased 4.5m shares.
- Polymarket targets $20b valuation amid prediction market sector heat; the platform is seeking new funding months after a $15b round.
- Mastercard completes $1.8b BVNK acquisition for stablecoin push; the deal aims to expand settlement and treasury services for banks.
- Bitdeer secures $4.7b data center lease for AI infrastructure; the 16-year agreement in Norway secures 121 megawatts of capacity.
- Clarity Act passage odds sink to 27% as key officials exit; four senior crypto policy leads are departing their federal posts this year.
- XRP Ledger added 490,000 new accounts in the first half of 2026; total accounts reached 8.4m, driven by RLUSD stablecoin activity.
- Boltz pauses service following wave of AI-assisted hacking attempts; the non-custodial protocol said attackers are adapting faster than developers.
- Samsung poised to become dominant stablecoin distributor; analysts expect the firm to turn 800m Galaxy phones into digital wallets.
- South Africa proposes draft rules for cross-border crypto transactions; the rulebook requires offshore transfers to be reported to the central bank.
- Solana proposal aims to increase daily SOL burns to $650,000; the fee overhaul needs 40m more SOL of validator support to reach a vote.
- XRP holders gain access to $280m RLUSD lending vault; Flare’s wrapped XRP allows borrowing on Ethereum without selling coins.
- Intesa Sanpaolo slashed IBIT stake by 94% in second quarter; Italy’s largest bank tripled its Ether ETF holdings to $7.1m during the slump.
2) BTC and ETH ETF flows
| Metric | BTC | ETH |
|---|---|---|
| Net inflow | $170,090,384.45 | -$11,417,811.76 |
| Value traded | $2,108,164,343.29 | $519,878,199.40 |
| Net assets | $77,579,680,477.12 | $10,233,353,558.20 |
| Cumulative net inflow | $51,494,598,300.76 | $11,198,810,550.30 |
3) X trending news
- Investigation into Trump’s memecoin; US Senators call for an SEC probe into the project following a 95% price crash.
- S&P 500 hits 7,700 record; the index reached a new all-time high, pushing its total market cap above $70 trillion.
- BNY Mellon launches crypto staking; the world’s largest custodian bank expands services into proof-of-stake rewards.
- Potential US-Iran deal; Secretary Bessent says an agreement to reopen the Strait of Hormuz could be announced tomorrow.
- US oil prices collapse; oil fell below $76 per barrel on reports of a pending diplomatic deal with Iran.
- Tokenized US Treasuries hit $16.2b; total onchain Treasury funds reached a record market cap, rising 77% year-to-date.
- Crypto trading volume dry-up; daily spot volume fell to $15b last week, marking a 70% decline from the January peak.
- Telegram removed from App Store; Apple briefly removed the messaging platform worldwide before restoring it after content policy changes.
