Coin360 Weekly Dispatch | Crypto Market Updates & Highlights | June 15 - June 21, 2025

Crypto Weekly Market Update

Table of Contents

Market Movements and Trends

• Crypto Weekly Recap

Stablecoin and Token Regulation

• U.S. Senate Passes GENIUS Act, Introducing Major Stablecoin Regulations and $3.7T Market Potential
• JPMorgan Launches JPMD Digital Deposit Token on Coinbase's Base to Compete with Stablecoins
• Wyoming to Launch Dollar-Pegged Stablecoin WYST on August 20, 2025, Piloting with Aptos and Sei Blockchains
• Tron Inc. to Go Public via Nasdaq Reverse Merger, Launching $210M TRX Treasury Model

Institutional and Corporate Crypto Moves

• Truth Social Files for Bitcoin and Ethereum ETF Following Recent Crypto Initiatives
• Bloomberg Analysts Boost Spot XRP, Dogecoin, and Cardano ETF Approval Odds to 90%

Data Security and Infrastructure

• Tether CEO Advocates for Local Storage, Calls for End to Cloud After Massive Data Breach

Big Tech and Platform Expansion

• Elon Musk's X to Launch In-App Trading and Investing Features in Bid to Become a Super App

Blockchain and NFT Ecosystem Growth

• TON Blockchain Emerges as Top NFT Platform Following BAYC and Pudgy Penguins Launches

Crypto Weekly Recap

Total crypto market cap: 3.17T

Crypto Fear & Greed Index: 49 (Neutral)

BTC.D: 65.07%

Bitcoin:

• Weekly performance: -1.16%
• US Spot BTC ETFs: +$1.02B
• Bitcoin peaked near $109,000 early in the week before dropping to $102,600 by Friday.
• U.S. spot Bitcoin ETFs saw nine straight days of inflows, adding $1.02B by June 20.
• Early-week Israel-Iran tensions shook markets briefly, but Bitcoin held; later escalations saw Iran strike back and Israel intensify attacks, with Trump urging a nuclear deal.
• The Fed held rates steady on Wednesday; Powell maintained a "wait and see" stance, while Trump slammed him as a “moron” in his longest Fed rant yet.
• Bitcoin rose to $106,500 on Thursday after Fed’s Waller backed a July rate cut, but slid to $104,000 by press time.
• Bitcoin’s onchain activity hit a low not seen since October 2023, though average transaction size rose—signaling whales were behind most high-value transfers.
• Bitcoin futures premium hit a 3-month low as BTC traded 8% below ATH; futures stayed below the typical 5–15% premium since June 12, while options turned bearish under macro pressure.

Ethereum:

• Weekly performance: -3.76%
• US Spot ETH ETFs: +$40.24M
• Ethereum fell to a weekly low of $2,385 after reaching a peak at nearly $2,700 at the beginning of the week.
• ETH ETFs saw modest net inflows of $40.24M, down sharply from last week.
• Staked ETH hit an all-time high with 35M ETH locked, over 28% of total supply.
• Ether accumulation addresses increased, showing investors chose to hold rather than sell.
• Crypto asset managers grew on-chain holdings from $1B to $4B since January, with major firms deploying capital via DeFi; ETH could regain attention if it scales fast enough.
• Analysts expected a breakout above $2,600 after the June 21 options expiry despite short-term weakness.
• Stablecoin supply hit $250B after the Senate passed the GENIUS Act, with new initiatives gaining attention.

Altcoins:

• TradFi-crypto ties drew attention with crypto moves from Reddit, Musk, and Trump.
• Smart money flowed into Bitcoin treasuries as corporate demand surged.
• Crypto funds saw $1.9B in inflows, highlighting strong ETF momentum.
• Weekly recap revealed crypto scams and hacks across Iran, France, and the US.
• Stablecoin spotlight focused on the GENIUS Act and Wyoming’s WYST launch.
• Global policy recap covered crypto tax breaks, regulatory bans, and legal battles.
• Bybit introduced Byreal, a hybrid DEX built on Solana.
• Polyhedra’s ZKJ token crashed after abnormal on-chain activity.
• Telegram saw its first native DeFi lending app launch with Affluent.
• Binance Alpha faced a user exodus after ZKJ and KOGE flash crashes.
• Jupiter suspended DAO voting until 2026 to prioritize DeFi growth.
• Aster DEX launched hidden orders following CZ’s call for dark pool perpetuals.
• Pumpfun delayed its token auction to July due to legal issues.
• CoinMarketCap fixed a hack where scammers targeted users with fake wallet verifications. 

U.S. Senate Passes GENIUS Act, Introducing Major Stablecoin Regulations and $3.7T Market Potential

The U.S. Senate passed the GENIUS Act on June 17, 2025, with a 68–30 vote, introducing comprehensive regulation for payment stablecoins pegged to the U.S. dollar. Key provisions include treating issuers like banks, mandatory AML/KYC compliance, the ability to freeze or burn assets on demand, and transparency through monthly disclosures and annual audits. The Treasury gains authority to designate non-compliant foreign issuers. Treasury Secretary Scott Bessent estimates a $3.7 trillion stablecoin market by 2030. The bill faces scrutiny from critics and will be reconciled with the STABLE Act, emphasizing a pivotal shift in digital asset regulation.

JPMorgan Launches JPMD Digital Deposit Token on Coinbase's Base to Compete with Stablecoins

JPMorgan Chase has launched a pilot for its new digital deposit token, JPMD, on Coinbase's Base, marking the first U.S. bank to issue a regulated deposit token on a public blockchain. Aimed at institutional clients, JPMD offers a tokenized representation of commercial bank deposits, differentiating it from traditional stablecoins. The pilot will assess performance, user interest, and regulatory developments over the coming months. JPMD has potential for yield and compliance, contrasting with stablecoins like USDT and USDC. The initiative reflects JPMorgan's strategy to bridge traditional finance with blockchain and addresses competition from yield-bearing digital assets.

Wyoming to Launch Dollar-Pegged Stablecoin WYST on August 20, 2025, Piloting with Aptos and Sei Blockchains

Wyoming is set to launch its state-backed, dollar-pegged stablecoin, the Wyoming Stable Token (WYST), on August 20, 2025. Authorized by the Wyoming Stable Token Act of 2023, WYST aims to generate revenue through short-duration U.S. Treasury bonds. The pilot will utilize the Aptos and Sei blockchains, which scored 32 and 30 points respectively in evaluations of transaction throughput, fees, and finality. WYST's development coincides with potential national stablecoin legislation, the GENIUS Act, that could simplify compliance and promote adoption. Notably, 29% of Fortune 500 executives are exploring stablecoins, highlighting increasing corporate interest.

Tron Inc. to Go Public via Nasdaq Reverse Merger, Launching $210M TRX Treasury Model

Tron Inc. plans to go public through a reverse merger with Nasdaq-listed SRM Entertainment, adopting a $210 million TRX treasury model analogous to MicroStrategy's Bitcoin strategy. The deal includes a private investment of $100 million and a $5 million PIPE round, reflecting a market cap increase from SRM’s $25 million to nearly $210 million. Political ties are evident with Eric Trump's involvement, raising interest in the initiative. Following the announcement, TRX's price rose 5% to $0.2803, with trading volume exceeding $1.2 billion. The merger aims to integrate crypto assets with equity frameworks, potentially revolutionizing public company finance.

Truth Social Files for Bitcoin and Ethereum ETF Following Recent Crypto Initiatives

Truth Social, operated by Trump Media & Technology Group, filed a Form S-1 with the SEC on June 16, 2025, to launch a bitcoin and ethereum ETF. This is the second crypto ETF proposal from the platform, which plans to allocate approximately 75% of assets to bitcoin, with potential adjustments disclosed later. Foris DAX Trust Co. LLC will serve as custodian. The ETF aims to join other dual bitcoin-ether products from Bitwise and Hashdex. This filing follows a recent approval of a multi-billion-dollar bitcoin initiative and reports of Trump earning over $57 million from a decentralized finance project.

Bloomberg Analysts Boost Spot XRP, Dogecoin, and Cardano ETF Approval Odds to 90%

Bloomberg analysts Eric Balchunas and James Seyffart have raised the probability of approvals for spot XRP, Dogecoin, and Cardano ETFs to 90% this year, along with Litecoin, Solana, Polkadot, and Avalanche. This increase follows recent positive engagement with the U.S. SEC, which has shown a more favorable stance under new chairman Paul Atkins. Just weeks prior, the approval likelihood for these assets was below 90%. Despite only Bitcoin and Ethereum spot ETFs being previously approved, the pending applications represent significant potential for investors, having already attracted billions in capital. Overall, optimism in the ETF space continues to grow.

Tether CEO Advocates for Local Storage, Calls for End to Cloud After Massive Data Breach

Tether CEO Paolo Ardoino emphasized the need to move away from cloud storage following a significant data breach exposing 16 billion credentials from major platforms like Apple and Facebook. He criticized the cloud as ineffective, stating, "The cloud has failed us. Again." In response, Tether is developing PearPass, a local, open-source password manager that ensures data remains on users' devices without reliance on cloud infrastructure, thereby avoiding leaks. Additionally, Tether has launched Pear Credit for peer-to-peer lending and is working on Tether AI. Ardoino’s overarching goal is to create resilient, human-first technology capable of operating in extreme conditions.

Elon Musk's X to Launch In-App Trading and Investing Features in Bid to Become a Super App

Elon Musk's social media platform, X, is set to introduce in-app trading and investing features, aligning with Musk's vision of creating a super app similar to WeChat. CEO Linda Yaccarino announced that these features will enhance the app's existing payment options, including a partnership with Visa for digital wallet services, known as X Money. The rollout will initially occur in the U.S. While specific asset classes remain unconfirmed, the platform already facilitates Bitcoin tipping and displays live crypto prices. X aims to secure money-transmitter licenses nationwide to expand its financial services offerings.