AI-powered summaries of the day's top crypto events
The CLARITY Act, a significant crypto regulation bill, is losing momentum in Congress. Galaxy Digital has reduced its estimate of the Act becoming law in 2026 to 60% from 75%, due to a shrinking Senate calendar and minimal progress.
A New York judge has paused a lawsuit concerning the ownership of nearly 40,000 bitcoin wallets. The case will have a hearing in July regarding a proposed amicus brief, which argues against using New York's lost-and-found statute for claiming 'lost' assets controlled by private keys.
Bitcoin's price has approached $60,000, leading to significant ETF outflows. This marks a reversal from February when institutional selling had eased, highlighting a shift in market sentiment.
Ethereum has fallen to its lowest level in over a year, testing Wall Street's crypto trade strategies. The cryptocurrency reached as low as $1,506, extending a broader selloff that has impacted derivatives markets.
South Korean police have launched an investigation into illegal gambling activities involving domestic users of Polymarket. The probe focuses on bets placed on local election outcomes, with authorities tracing cryptocurrency transactions to identify participants.
Decentralized finance has seen a decline in old hack vectors, with losses dropping from $2.62 billion in 2022 to $534 million in 2024. However, new risks have emerged that could impact multiple blockchain networks simultaneously.