Trump Pushes GENIUS Act Passage

Crypto Developments

Whale Activity Accelerates

Data indicates increased whale engagement this week, with notable growth in on-chain transactions for tokens Render (RENDER), SPX, SKY, BIT, LEO, DAI and USDC on Optimism, as well as OP and AAVE on both Polygon and Ethereum. This signals potential accumulation ahead of future rallies.

Lion Group and Eyenovia Invest in Hyperliquid

Nasdaq-listed Lion Group secured a $600 million facility to bolster its treasury with Hyperliquid (HYPE), also incorporating reserves in SOL and SUI tokens. Meanwhile, biotech firm Eyenovia allocated $50 million from treasury reserves into Hyperliquid, solidifying institutional bet on the emerging DeFi asset.

Mantle Launches UR – Blockchain-based Neobank

Blockchain infrastructure firm Mantle rolled out UR, the first fully blockchain-powered neobank. It integrates fiat and crypto in a single account across 40+ countries, featuring Swiss IBANs and Mastercard. Planned DeFi service expansion is scheduled throughout 2025.

Stablecoin Market Reaches $250 Billion

The stablecoin ecosystem has grown to $250 billion in market cap, dominated by Tether and Circle, which together handle 86% of stablecoin transaction volume. Yield-bearing stablecoin tokens like Ethena have amassed nearly $6 billion, and over ten stablecoins now each hold more than $1 billion in market cap, collectively backing around $120 billion in U.S. Treasuries.

24/7 Atomic Swaps Enabled by Ethena Labs

Ethena Labs partnered with Securitize to implement continuous atomic swaps between USDtb (a stablecoin) and BlackRock’s tokenized treasury fund BUIDL, enhancing round-the-clock convertibility between these two asset categories.

Bullish Sentiment Extended into Late 2025

Analysis from Alphractal shows that the bullish trend in Bitcoin persists, with CapFlow Sentiment Index data and technical/fractal analysis indicating potential upside through October 2025 before a possible market reversal.

Regulatory Defense: Pump Fun Hires Legal Team

Faced with a lawsuit accusing them of profiting unlawfully from volatile financial instruments, the Pump Fun platform has retained top-tier lawyers from Brown Rudnick to defend against these allegations.

FalconX Considered Going Public

Cryptocurrency prime broker FalconX, valued at $8 billion in 2022, is reportedly in discussions for an IPO in 2025. The firm has expanded operations through strategic acquisitions and partnerships, including with Arbelos Markets and Standard Chartered.

Pyth Network Adds LSE Price Feeds

Pyth Network has launched support for real-time price data of the top 100 London Stock Exchange equities, updating every 400 milliseconds across more than 100 blockchains. This enhances infrastructure for fin-tech projects, asset tokenization, and on-chain analytics.

Iran Limits Crypto Exchange Hours

Following a hack that led to theft of approximately $90 million, Iran’s central bank imposed operational restrictions on local crypto exchanges, limiting trading to 10:00–20:00. The illicit funds were subsequently destroyed.

Sol Strategies Applies for Nasdaq Listing

Canadian exchange operator Sol Strategies filed for a Nasdaq listing under the ticker STKE. The company holds over 420,000 SOL tokens in treasury and oversees multiple Solana validators.

Macro & Geopolitical Events

U.S. Trillions in Options Expire Tomorrow

June will see a record $5.5 trillion in options on U.S. equities, indices, and index futures expire, an event often termed “triple witching,” which could significantly amplify market volatility.

Geopolitical Tensions Escalate

Reports suggest the U.S. is considering a strike on Iran’s Fordow nuclear facility as early as Saturday. The U.K. is contemplating involvement should hostilities escalate between U.S., Israel, and Iran. Markets are watching diplomatic developments closely, with peace talks possibly emerging within 48 hours. Iran has expressed openness to talks but rejected negotiations under coercion.

Historic Bet on Fed Policy

Traders executed the largest speculative trade ever in interest-rate futures, betting on Federal Reserve policy easing only after Chair Powell exits in 2026. Trump criticized Powell as the “worst chair” and urged rate cuts or resignation, while Powell prepares his semiannual monetary policy report to Congress on June 25.

Conclusion

This summer, crypto markets are witnessing a wave of institutional adoption—from whale activity and treasury diversification to blockchain banking and real-time cross-chain infrastructure. The fast-tracking of the GENIUS Act and advancements in stablecoin frameworks bolster the sector’s maturation. Simultaneously, macro-economic events—such as record options expiries, geopolitical uncertainty, and U.S. fiscal pressures—are creating a dynamic backdrop. Together, these forces set the stage for a potentially transformative period in digital finance.