Author: 行政

Bitcoin enters the weekend near $60,000 after sticky inflation, heavy ETF outflows, and a failed defense of the $59,000-$62,000 zone. The May PCE print gave the market a reason to sell, but the real damage came from positioning.Core PCE came in at 3.4% year over year, above the Fed’s 2% target but broadly in line with economists’ expectations.The June 26 options expiry is the structurally heavier event, with Deribit data showing over $10.6 billion in BTC options expiring, with roughly 80% of that open interest out of the money and max pain sitting in the low $70,000s.With BTC trading near…

Banks across the US, the UK, and Europe finally have a legal path to issue stablecoins, custody Bitcoin, and settle tokenized funds, yet the capital rulebook that governs it all still treats a Bitcoin position as something close to a guaranteed loss.Under the Basel Committee’s cryptoasset standard, which has been live in member jurisdictions since January 1, 2026, unbacked crypto is in the most punitive bucket in the whole framework, carrying a 1,250% risk weight. Once you push that through Basel’s 8% minimum, you end up with a bank holding capital equal to its full exposure, a dollar of equity set aside for…

Kalshi’s live U.S.-regulated crypto perpetual futures move the story out of the approval phase and into the order book.The company’s public perpetual futures page and individual product pages now present U.S.-regulated crypto perps as a broader trading category that extends past the first Bitcoin experiment.Kalshi’s own materials point to markets across Bitcoin, Ethereum, Solana, XRP, and other crypto assets, while a dedicated HYPE perpetual page shows the company has extended the product into one of the assets most closely associated with demand for crypto-native derivatives.The launch changes the test from permission to behavior. Traders will compare spreads, depth, funding, reference…

Metaplanet’s Siiibo deal turns the Bitcoin treasury trade from a balance-sheet accumulation question into a regulated distribution test.The Japan-listed company has agreed to acquire Siiibo Securities, a regulated corporate-bond platform, giving Japan’s largest public Bitcoin treasury company a route into securities structuring and distribution while mNAV, dilution, and BTC-per-share math are under pressure.The wider question has shifted from copying a simple treasury playbook to building licensed channels that can package Bitcoin exposure while preserving the per-share BTC claim that made the trade attractive in the first place.Metaplanet’s June 12 disclosure said it had executed a share-transfer agreement to acquire Siiibo…

Stablecoin flows have crossed from crypto liquidity into the market map central banks use to track dollar funding.The Bank for International Settlements, in its June 23 Annual Economic Report chapter on innovation beyond stablecoins, argued that private dollar tokens still fall short of the core tests of money. The same official-sector push now sits alongside a working paper estimate that a $3.5 billion, five-day stablecoin inflow can move three-month Treasury bill yields by about four basis points within 10 days.The consequence is practical. Stablecoins are becoming a measurable channel between on-chain dollar demand and the front end of sovereign debt markets.For crypto, stablecoin growth now…

Hyperliquid has been added to Singapore’s Investor Alert List, putting DeFi’s permissionless pitch to a consumer-protection test: the network can keep settling trades, while the interface and public messaging around it draw regulatory scrutiny.Hyperliquid said in a June 26 statement that its appearance on the Monetary Authority of Singapore’s list was a warning-list event rather than a ban, enforcement action, or finding of wrongdoing.The project also said it had not claimed to be licensed by MAS, described itself as permissionless infrastructure, and said users retain self-custody while transactions settle transparently on-chain.The resulting pressure is applied to the user-facing layer. A…

Binance is set to miss Europe’s July 1 MiCA authorization deadline, moving the bloc’s exchange-access fight from a policy countdown into a live test of where users, assets, and trading liquidity move next.The exchange has told European customers it will be unable to meet the authorization deadline, according to Binance Square social media posts and a Financial Times report. The warning comes two days after Binance withdrew its MiCA license application in Greece and said it would pursue authorization in another EU Member State. Related ReadingMillions of EU crypto users face exchange cutoff as MiCA deadline hits in daysAround three…

Some of the largest US crypto companies and advocacy groups are escalating a coordinated lobbying campaign to secure a Senate vote on landmark digital-asset legislation before lawmakers leave Washington for their August recess.The industry’s push for the Digital Asset Market CLARITY Act comes as the Senate confronts a narrowing legislative calendar, and negotiations remain unfinished.In view of this, Senate Majority Leader John Thune, who controls the chamber’s floor schedule, reportedly acknowledged that negotiators still have a route forward but warned that the opportunity is closing.The warning has added urgency to an industry campaign years in the making. The bill supporters…

Ripple and SBI announced the official launch of RLUSD in Japan on June 24, following JFSA approval, with the stablecoin available to institutional and retail users through SBI VC Trade.Ripple categorized RLUSD under Japan’s Payment Services Act as a new type of electronic payment instrument for foreign-issued stablecoins, the first time the company has had a regulated dollar stablecoin in one of its most established markets.The day after the launch, Circle and Nomura plan to launch a USDC-based digital asset settlement and corporate payment service in Japan as early as 2027.The service would let Japanese businesses exchange yen for USDC…

Celsius froze withdrawals in June 2022 before filing for Chapter 11 in July 2022, and Genesis froze redemptions after FTX’s collapse and filed for bankruptcy in January 2023, owing approximately $3.4 billion to its 50 largest creditors.BlockFi, Celsius, Genesis, and Voyager together accounted for 40% of the crypto lending market and 82% of CeFi lending at their peaks, per Galaxy data. The 2022 unwind exposed two failures simultaneously: bad loans and the complete opacity of where risk sat inside those balance sheets.The answer crypto landed on was to put lending on-chain, which helped address some of the opacity problem.Building the…