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the UK government is accelerating the tokenization of its financial markets. 54 financial institutions, including BlackRock, Goldman Sachs, JPMorgan Chase, HSBC, and UBS, have joined the Wholesale Digital Markets Working Group supported by HM Treasury.Backed by the City of London Corporation, the working group will explore real-world tokenization use cases in the UK financial markets over the next year, with an initial focus on tokenised repurchase agreements (tokenised repo).Chris Woolard, the HM Treasury’s lead on wholesale digital markets, stated in a report that the tokenized financial market represents a "network race" and that the UK must move at the fastest possible pace, or risk missing the opportunity to participate in the global digital financial infrastructure buildout. (CoinDesk)
a recent exchange report released by CoinDesk shows that global centralized exchange (CEX) spot trading volume in June ended a five-month consecutive decline, increasing by 15.3% month-over-month to $1.11 trillion. Among them, Gate's spot trading volume grew by 50.8% month-over-month to $66.1 billion, ranking first globally among centralized exchanges in spot trading volume growth. The report indicates that Gate's spot market share also increased by 1.55 percentage points to 5.95%, leading the world in growth and hitting a new high since October 2025. Driven by this strong growth, Gate has secured its position as one of the top three global spot trading platforms among AA-A rated top-tier exchanges.In the derivatives market, Gate's derivatives trading volume in June reached $369 billion, with its market share positively growing to 9.52%, solidifying its position as the fourth-largest derivatives trading platform globally. Additionally, in terms of Open Interest, Gate particularly stood out, ranking among the top three global retail derivatives exchanges with a 9.20% share. Considering the overall trading volume of its spot and derivatives markets, Gate ranks among the top four globally, further consolidating its status as a leading global trading platform.CoinDesk data shows that as market volatility revives trading demand, Gate has leveraged its strong growth in both the spot and derivatives markets to further enhance platform liquidity and multi-asset trading capabilities, continuously strengthening its global competitiveness.
multiple sources familiar with discussions on the Digital Asset Market Clarity Act indicate that U.S. lawmakers plan to release an updated version of the crypto market structure bill this week. The new text incorporates content from bills previously passed by the U.S. Senate Banking Committee and the Agriculture Committee, with consultations between the two committees on multiple provisions. (CoinDesk)
27 crypto and Web3 companies, including OKX, MetaMask, and Matter Labs, have jointly supported the "Internet Court" project led by the Genlayer Foundation. The project aims to provide automated dispute resolution infrastructure for transactions between AI agents.As AI agents begin to autonomously conduct negotiations, payments, and commercial transactions, machine-to-machine economic activity is growing rapidly. However, similar to business dealings between humans, AI agents may also encounter issues such as contract breaches and payment disputes. Existing legal systems and traditional courts find it difficult to adapt to the high-speed transaction scenarios of machines. The Genlayer Foundation stated that the Internet Court aims to enable interoperability between AI-based payment, escrow, and dispute resolution systems, providing a "machine-speed" arbitration mechanism for the agent economy. (CoinDesk)
According to CoinDesk, informed sources revealed that the latest consolidated draft of the U.S. "Digital Asset Market Transparency Act" (Clarity Act) may be released as early as next week, and the Senate is expected to advance deliberations during the week of July 20. The consolidated draft was jointly negotiated by the Senate Banking Committee and the Agriculture Committee, adding over 70 pages of content and strengthening consumer protection provisions. However, the bill still faces multiple obstacles: Democrats insist on restricting business ties between senior government officials (including the President) and the crypto industry, and the parties have not yet reached a compromise on this ethics provision; additionally, issues such as federal preemption and SEC and CFTC commissioner nominations remain unresolved, and the White House has not participated in the latest negotiations. For the bill to pass in the Senate, it must reach the 60-vote threshold, and the time window is extremely limited—with only about four weeks of agenda remaining for the Senate in July and early August, and continued infighting among House Republicans further increases legislative uncertainty.
that, according to sources familiar with the matter, lawmakers could unveil an updated version of the Cryptocurrency Clarity Act as early as next week. The new bill will integrate work from both the Senate Banking Committee and the Senate Agriculture Committee. However, outstanding issues remain, including one of the key demands from Senate Democrats: ethics concerns. Democrats still need to accept the new draft, which would require 60 votes to advance through the Senate. (CoinDesk)
According to CoinDesk, Swift announced that its blockchain-based shared ledger platform is ready and will launch real-time transaction testing with 17 major banks. Participating institutions include HSBC, UBS, BNP Paribas, Citi, BNY, and Wells Fargo, among others, covering six continents. The platform aims to enable 24/7 cross-border payments through tokenized deposits, allowing banks to transfer funds for customers during nights and weekends, and providing liquidity support before final settlement is completed in existing payment systems. Swift clearly stated that the ledger system is positioned as a complement to existing payment rails, not a replacement.
as the 25-day quiet period following SpaceX's (SPCX) June IPO comes to an end, Wall Street analysts have begun releasing formal research reports. Multiple major brokerages have issued favorable ratings, indicating institutional investors remain optimistic about the company's long-term growth potential.As IPO underwriters, both Goldman Sachs and Morgan Stanley have assigned buy-equivalent ratings to SpaceX. Goldman Sachs analyst Eric Sheridan set a price target of $205, while Morgan Stanley analyst Adam Jonas gave a target of $300. Additionally, institutions such as Bank of America, Citigroup, Deutsche Bank, JPMorgan, and UBS have also initiated coverage with buy or equivalent ratings. Among them, Raymond James Financial provided the most optimistic forecast; analyst Brian Gesuale initiated coverage of SpaceX with a "Strong Buy" rating and a price target as high as $800, believing SpaceX will become "one of the most representative industrial infrastructure companies of the 21st century."Analysis suggests that market optimism towards SpaceX is primarily based on its布局 (layout/foundation) in areas such as rocket launches, Starlink satellite internet, and government contracts. At the same time, the company's communications business can provide a sustainable source of revenue and support future expansion of launch scale.As of March 31, 2026, SpaceX holds 18,712 Bitcoins. Wall Street believes that the concentrated coverage following the end of the IPO quiet period provides a window for institutional investors to conduct their first systematic assessment of SpaceX's valuation. The fact that nearly all major institutions simultaneously issued positive ratings is relatively rare for large-scale IPOs. (CoinDesk)
: Securitize CEO Carlos Domingo stated that after its NYSE listing, the company will utilize approximately $400 million in capital reserves to pursue mergers and acquisitions, aiming to expand its institutional-grade asset tokenization business. By completing its listing through a merger with Cantor Fitzgerald's SPAC, the company retained about 70% of its trust funds, providing sufficient cash reserves to support the next phase of expansion.Carlos Domingo noted that the acquisition targets will primarily focus on areas complementary to the tokenization business, rather than direct competitors, with the goal of building a "full-stack tokenization service platform" for institutional clients.Securitize currently serves institutions including BlackRock, KKR, Apollo, and VanEck, having issued approximately $4.4 billion in tokenized assets, including products such as BlackRock's BUIDL fund. (CoinDesk)
Sberbank, Russia's largest bank, plans to launch a cryptocurrency wallet and digital custody services, with the earliest launch expected in December. The services will be integrated into the "Sberbank Online" and "SberInvestments" platforms, pending the official implementation of Russia's forthcoming "Digital Currency and Digital Rights Law" in September.The bill is expected to establish a licensing framework for transactions, custody, fiat exchange, and cross-border settlements involving crypto assets, while also allowing eligible investors to participate in trading within set limits.Sberbank stated that users will be able to access authorized crypto assets directly within the bank's application, and a digital asset custody system will also be launched for token storage and ledger management.Against the backdrop of advancing regulations, financial institutions including the Moscow Exchange and VTB are also accelerating their deployment in digital asset-related businesses, as Russia's financial system gradually opens up to the compliant crypto market. (CoinDesk)
Coinbase sent an AI-generated news alert claiming the Norwegian national football team had defeated Brazil 3-2 before the World Cup match had even started. CEO Brian Armstrong has launched an investigation, and Coinbase stated that updates have been implemented to prevent future instances of inaccurate AI-generated information. The error comes as Coinbase is advancing its prediction market and "everything exchange" features, including an AI advisor and stock options. (CoinDesk).
According to CoinDesk, the U.S. Crypto Market Structure Bill Clarity Act failed to be signed within the previously expected timeframe. As Congress approaches its summer recess, pressure is mounting for the bill to be enacted within 2026. However, several observers following the legislative process remain cautiously optimistic about its passage within the year, believing that current key coordination efforts are still ongoing, including the consolidation of content between the Senate Agriculture Committee and Banking Committee versions.
According to CoinDesk, researchers at blockchain security company Hexens discovered an "expired cache" type confusion vulnerability in the Aptos blockchain Move virtual machine. Attackers require only about $3,000 in server costs to launch attacks in a simulated environment with a success rate of nearly 90%, without needing validator privileges or internal knowledge. Researchers ran approximately 20 attacks in simulated tests, succeeding 17-18 times, and verified the potential ability to control management permissions of cross-chain protocols such as LayerZero, Wormhole, and USDC CCTP. Hexens assessed that the vulnerability directly threatens protocols on the Aptos chain such as DeFi, stablecoins, and liquid staking, involving assets in the low single-digit billions of dollars; if spread through paths such as cross-chain bridges, stablecoin minting, and centralized exchanges, the systemic risk exposure could reach up to $70 billion. The Aptos team completed the fix and deployed it to the mainnet within hours after receiving the vulnerability report on February 25, and currently no user funds have been compromised.
According to CoinDesk, Wall Street bank Cantor Fitzgerald issued a research report indicating that the crypto market is entering the final phase of the current bear cycle. As of June 10, Bitcoin has declined approximately 51% from its 2025 peak, with 252 days having passed since the peak. Synthesizing the past three market cycles, BTC bottoms on average 384 days after the peak; based on this, the low point of this cycle is projected to appear around the end of October. Analysts also noted that the model is not a precise timing tool, and macro, regulatory, and geopolitical risks remain. Regarding network value assessment, Cantor believes Hyperliquid is the prime example of fee-driven token economics, Bitcoin remains the benchmark monetary asset, and Ethereum serves as the primary collateral layer for on-chain finance; Solana, Sui, XRP, and Zcash each possess differentiated advantages, but still need to prove that their ecosystem growth can translate into sustained token demand.
According to the latest report from investment bank Jefferies, the U.S. "Clarity Act," although having passed a bipartisan 15:9 vote in the Senate Banking Committee, still faces significant hurdles in the subsequent legislative process. Political uncertainty may exacerbate crypto market volatility in the coming weeks. The bill aims to clarify the regulatory boundary for digital assets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) and is considered a core legislative framework for the U.S. crypto market structure. Jefferies pointed out that passage would significantly boost institutional participation, while delays would prolong regulatory uncertainty.Currently, Polymarket data shows that the probability of the bill passing before the end of 2026 has dropped to 48%, a significant decline from 70% in mid-May, primarily due to disputes over ethical clauses, anti-money-laundering reviews, and a tight Senate agenda. Analysts note that with approximately only 20 legislative days remaining before Congress adjourns in August, it must complete the reconciliation of House and Senate versions, procedural votes, and submission to the President for signature. If it fails to advance before the recess, it may be delayed until next year, or even further postponed due to changes in the election cycle.Jefferies believes that if the bill is enacted, it will drive the expansion of businesses such as tokenized assets, custody, staking, lending, and crypto ETFs, benefiting the development of markets like Bitcoin (BTC) and Ethereum (ETH). However, if delayed, it could suppress institutional investment in on-chain infrastructure and crypto-related IPOs.Additionally, the market expects policy uncertainty to continue affecting the stock performance of crypto-related public companies such as Circle, Coinbase, and Bullish. Jefferies added that even as regulations gradually clarify, intensified competition in the stablecoin space could become a long-term source of pressure for companies like Circle. (CoinDesk)
MetaMask has announced the launch of a new self-custodial account, "Money Account," which integrates stablecoin yields, payment spending, and trading functions into a single wallet system, further driving its transformation into a comprehensive financial platform. The product, launched by Consensys, is built on the Monad blockchain, with its core asset being the dollar-pegged stablecoin mUSD. Users can earn a floating annualized yield of up to approximately 4% while holding their assets. Funds will be automatically allocated to decentralized lending protocols such as Morpho, with Aave to be integrated in the future.Unlike traditional DeFi products, this account does not require users to manually transfer funds between protocols. Yields are automatically activated upon deposit and can be directly used for trading functions such as token swaps, perpetual contracts, and prediction markets. (CoinDesk)
According to CoinDesk, the UK Financial Conduct Authority has released a draft cryptoasset regulatory framework, proposing to lower the capital buffer requirement for stablecoin issuers from 2% to 1%, which is lower than similar requirements under the EU's Markets in Crypto-Assets Regulation (MiCA). The regulator stated that this move aims to enhance the applicability and operability of the regulatory framework while maintaining overall prudential regulatory intensity.
Blockchain analysis firm Chainalysis has released a new methodological proposal aimed at establishing a unified on-chain fund tracking standard framework for law enforcement agencies and investigators to identify address clusters and determine their probable control relationships.The proposal defines the on-chain analysis structure in the form of an "ontology," centralizing the systematic decomposition of the currently industry-wide non-standardized concept of "cluster" (address clustering) into wallet segments and functional roles. It describes on-chain relationships through a two-tier structure: the first layer defines the transaction graph structure, and the second layer assesses the inferred confidence level.Chainalysis states that the framework aims to enhance the interpretability and legal applicability of on-chain forensic methods and has been validated through its practical experience in cases related to the U.S. Department of Justice, including analysis applied in the Bitcoin Fog mixing service case. The company's Chief Scientist, Jacob Illum, noted that the proposal's goal is to answer "on what evidentiary basis can these addresses be considered to belong to the same entity," but emphasized that on-chain analysis alone cannot directly identify end-user identities and must still be combined with legal investigative methods involving centralized entities such as exchanges.Chainalysis stated that the standard proposal is currently open for industry discussion, aiming to promote a more unified technical standard for on-chain analysis methods in the fields of law enforcement and compliance. (CoinDesk)
Ripple is advancing the addition of a lending infrastructure layer on the XRP Ledger (XRPL), enabling institutions to raise funds using on-chain tokenized assets as collateral. The protocol will automatically execute loan terms, while credit evaluation and lending decisions remain handled by off-chain institutions.According to disclosures, the proposal is named the XRPL Lending Protocol (corresponding to XLS-65 and XLS-66 standards). It is currently in the technical draft stage and will require approval through validator voting before launching on the mainnet, but developer testing has already been opened on the test network.The protocol’s design splits the lending process into two parts: on-chain management of liquidity pools, interest calculation, repayment execution, and default handling; while borrower credit assessment and loan term setting remain with traditional financial institutions to meet compliance requirements across different jurisdictions.Ripple states that the mechanism is primarily aimed at institutional short-term liquidity needs. For example, in cross-border payment scenarios, temporary financing through stablecoins or collateral assets can be obtained before settlement is completed, thereby improving capital efficiency.Analysts believe that while the plan attempts to introduce a “rule-enforced lending infrastructure” similar to traditional finance while maintaining XRPL's open network attributes, it will still face competition from established on-chain lending protocols such as Aave, Compound, and Maple. (CoinDesk)
Framework Ventures co-founder Michael Anderson pointed out in his analysis that the core opportunity in the next stage of the crypto industry may no longer be limited to crypto assets themselves, but rather evolve into a financing infrastructure for capital-intensive industries such as artificial intelligence, robotics, and energy, with blockchain becoming the capital layer.Compared to the 2020–2021 cycle, which was centered on DeFi and crypto speculation, tokenization and stablecoins are evolving from crypto-native applications into financial infrastructure serving the real economy. They can be used to provide more efficient financing channels for assets such as GPU computing power and energy projects. Currently, over $300 billion in stablecoin liquidity on-chain offers new funding sources for asset-backed lending, potentially allowing assets that were traditionally difficult to securitize—such as servers and computing hardware—to be packaged as financeable assets. (CoinDesk)