Another Big Week: Wins Piling Up for Crypto!💪
Stablecoin legislation gets passed in the Senate and JPMorgan capitulates in a big way!
Hey Thinkers 💡
This week marked a historic milestone for the crypto industry.
🏛️ GENIUS Act: Stablecoin Bill Passes in the Senate
In a landmark move, the U.S. Senate passed the GENIUS Act, the first standalone crypto legislation to ever clear the chamber. The bill, focused on stablecoin regulation, passed with overwhelming bipartisan support in a 68-30 vote — a massive win for the crypto industry and a signal that the tide is turning in Washington.
The bill now heads to the House of Representatives, where the pace of progress is uncertain. Some Democrats have raised concerns over President Trump’s potential conflicts of interest due to his family's crypto holdings. A Thursday Forbes report noted that DT Marks DeFi LLC, a Trump-controlled entity, has been gradually reducing its stake in World Liberty Financial (WLF), dropping from 75% in December 2024 to just 40% post-June 8 — possibly to avoid political friction.
Despite the noise, Trump stated on Truth Social that he is ready to sign the bill ASAP once it reaches his desk.
To break it all down, I spoke with Cody Carbone, CEO of the Digital Chamber, about what happens next for the Stablecoin Bill and the broader market structure legislation.
🎥 Watch the full interview
💼 JPMorgan Capitulates Further to Crypto
JPMorgan continues to walk the walk — even as CEO Jamie Dimon talks the talk.
Despite Dimon's historical criticism of crypto, JPMorgan is moving deeper into blockchain. This week, they announced that Kinexys will launch JPMD, a permissioned USD deposit token, on Coinbase’s Base network.
JPMD is a major step forward from JPMCoin, which was siloed on JPMorgan’s private Quorum blockchain. The shift to a public blockchain like Base is a recognition that open, transparent networks are the future of finance.
Even more telling: JPMorgan met with the SEC’s Crypto Task Force this week. One of the key topics?
👉 “Reviewing the potential impact of existing capital markets activity migrating to public blockchain.”
They’re not alone.
This week, the Depository Trust & Clearing Corporation (DTCC) also met with the SEC’s Crypto Task Force — this time to discuss tokenization and its implications.
We are watching institutional capitulation in real-time.
₿ Bitcoin’s Healthy Bull Pullback
As we’ve discussed in recent newsletters, the crypto bull market remains intact — but Bitcoin is currently undergoing a healthy pullback.
The Daily RSI indicates that BTC is cycling from an overbought zone to an oversold zone — classic behavior following the volatility sparked by tariff-related uncertainty.
Here’s what to keep in mind:
Altcoins will likely bleed more as Bitcoin continues to correct.
BTC may bottom around $98K, resetting market sentiment before moving higher.
Long-term structure remains bullish. Patience is key as this consolidation plays out.
Final Thought:
The crypto industry just notched one of its biggest policy win to date. Institutions are leaning in. And while prices consolidate, the foundation for the next leg of the bull market is solidifying.
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📈Crypto Market Metrics
Here are some key data points from Santiment
Top 10 Coins Trending via Social Media
Bitcoin Whale Activity
Wallets with 10 or more BTC continue accumulation despite volatility in the crypto market.
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📺 Recent Interviews
I interviewed Coinbase CEO Brian Armstrong at the Coinbase State of Crypto Summit. He shares his outlook on Coinbase, discusses new products such as the Coinbase One credit card and the Shopify partnership, and gives his perspective on crypto legislation in the U.S.
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-Tony
Good project 💥
Thanks for the Info Tony!