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⚡ Bankless Co-Founder Sells ETH but Remains Positive on Ethereum ⚡

 

Bankless co-founder David Hoffman revealed that he sold his ETH holdings, though he stressed that he still believes in Ethereum’s long-term future. 

 

Hoffman explained that his decision was based on capital allocation rather than a bearish outlook, arguing that the idea of “ETH as money” has already largely played out in the market. In his view, Ethereum continues to succeed as infrastructure for DeFi, stablecoins, tokenization, and layer-2 networks, but not all of that growth necessarily increases the value of ETH itself. crypto.news.

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⚡ BTC Risks Drop To $60K After Market Sell-Off ⚡

 

Bitcoin came under renewed selling pressure after rising tensions between the United States and Iran triggered a broader move away from risk assets. The cryptocurrency briefly fell to the mid-$65,000 range before recovering slightly, but remains vulnerable after losing several important support levels in recent weeks. Analysts warn that if sellers maintain control, Bitcoin could face a deeper correction toward the $60,000 mark.

 

Market sentiment has also been weakened by persistent outflows from U.S. spot Bitcoin ETFs, signaling softer institutional demand during the latest downturn. Adding to investor concerns, Strategy disclosed a small Bitcoin sale, its first reduction of holdings in years. While the transaction was relatively minor, it raised questions about the company’s long-standing accumulation strategy and added to the cautious mood across the crypto market. crypto.news.

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⚡ Crypto Firms Under Pressure as Europe Tightens Russia-Related Controls ⚡

 

The European Commission has unveiled a new sanctions package aimed at non-EU companies, including cryptocurrency platforms accused of assisting sanctioned Russian individuals and organizations. The proposal would expand transaction restrictions and could allow the EU to block crypto services from entire foreign jurisdictions if they are found to facilitate sanctions avoidance.

 

The move reflects growing global scrutiny of the crypto sector. Authorities in Europe, the UK, and the United States have recently taken action against exchanges allegedly linked to sanctioned networks. At the same time, Russia is preparing new regulations for domestic cryptocurrency trading, while the EU plans additional measures targeting the country's energy, trade, and fishing industries. crypto.news.

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⚡ Former FTX CEO Reportedly Considers Return to Crypto After Prison ⚡

 

A new report has revealed details about Sam Bankman-Fried’s time in prison, including an alleged comment that he could create a new cryptocurrency after release. According to accounts from another inmate, the former FTX founder suggested that launching a serious venture would require substantial funding before joking or speculating that issuing a new token could attract attention despite his public downfall.

 

Bankman-Fried remains in federal custody while continuing efforts to overturn his conviction and reduce his sentence. Recent court decisions upheld the fraud verdict and rejected arguments raised in his appeal, narrowing his legal options. crypto.news.

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⚡ Anti-CBDC Provision Moves Closer to Becoming U.S. Law ⚡

 

The U.S. Congress approved the 21st Century ROAD to Housing Act and sent it to President Donald Trump for final approval. While the legislation is mainly aimed at improving housing affordability, expanding supply, and easing access to homeownership, it also contains a provision that would prevent the Federal Reserve from introducing a retail central bank digital currency through the end of 2030.

 

The restriction applies to any Fed-issued digital asset with characteristics similar to a CBDC but does not extend to private stablecoins. The measure aligns with the current administration’s position against launching a federal digital dollar and would turn that stance into law if signed. crypto.news.

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⚡ Bitcoin Slides Under $59K as ETF Outflows Reach New High ⚡

 

Bitcoin fell below $59,000 and traded near the $58,000 support area after a difficult June marked by weakening demand and heavy ETF withdrawals. The decline followed a monthly drop from around $74,000 and reflected softer institutional participation, reduced buying activity, and a broader shift in market momentum. Traders are now focused on whether BTC can hold current levels or face another move lower.

 

Pressure increased as U.S. spot Bitcoin ETFs recorded approximately $4.5 billion in net outflows during June, setting a new monthly record. crypto.news.

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⚡ Russian Lawmakers Ease Wallet Reporting Rules in Crypto Proposal ⚡

 

Russia’s parliamentary financial committee has approved an updated cryptocurrency bill for its second reading, introducing several notable changes. The revised proposal removes the requirement for users to disclose wallet addresses, requiring only transaction volumes and wallet balances to be reported. Lawmakers also added provisions allowing cryptocurrencies to be used when purchasing certain regulated financial assets and tokenized instruments under Russian law.

 

The bill retains annual investment limits for retail investors while introducing new controls that could temporarily delay certain large crypto transfers. crypto.news.

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⚡ Coinbase’s Prediction Markets Reach $100M Annualized Revenue ⚡

 

Coinbase reported that its prediction markets business reached an annualized revenue run rate of more than $100 million less than two months after launch, making it one of the company’s fastest-growing products. The expansion comes as the exchange looks to diversify beyond cryptocurrency trading, despite reporting lower revenue and a quarterly net loss.

 

The rapid growth reflects rising interest in event-based trading, a market that has expanded significantly over the past year. By leveraging its large existing user base, Coinbase entered a sector already led by established platforms and quickly gained traction. crypto.news.