Crypto

The publicly traded Bitcoin financial services firm plans to issue and sell shares of its stock, largely to add more Bitcoin to its corporate treasury. 

JPMorgan will pilot a dollar-denominated deposit token called JPMD on Coinbase’s Base blockchain within days, global blockchain division co-head Naveen Mallela said in an interview with Bloomberg News on June 17.  The test will transfer a fixed amount of JPMD from the bank’s digital wallet to Coinbase, making the token available to selected institutional users […] The post JPMorgan pilots tokenized deposit token on Base, targeting instant dollar transfers appeared first on CryptoSlate.

The Ink Foundation will debut a native token for Kraken's Ethereum layer-2 network. Here's what we know so far.

The bank’s JPMD is a permissioned USD deposit token enabling J.P. Morgan institutional clients to move money 24/7 on-chain.

Once the pilot phase ends, Coinbase’s institutional clients can begin using JPMD for transactions. JPMorgan Chase’s foray into the blockchain ecosystem continues, with the financial institution choosing the Base network to pilot its newly launched deposit token, JPMD.  The pilot program was confirmed by Naveen Mallela, an executive at JPMorgan’s blockchain division, Kinexys, who told Bloomberg that a fixed amount of JPMD tokens will be transferred to crypto exchange Coinbase in the coming days. The transfer will be facilitated through Coinbase’s layer-2 blockchain, Base, which launched in 2023 and currently has the largest market share among Ethereum layer-2s, according to CoinGecko.  Read more

The move could pit the crypto exchange against Robinhood and Schwab.

Nailwal had previously said that Polygon zkEVM's deprecation stems from changing priorities and the product's failure to maintain a meaningful strategic role within the ecosystem.

Treasury Secretary Scott Bessent stated on June 17 that stablecoins could cut federal borrowing costs and slow debt growth if Congress sends the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act to the president.  In an X post, he pointed to research projecting a $3.7 trillion stablecoin market by 2030 and argued that […] The post Treasury Secretary Bessent says stablecoins are debt relief engine as Senate readies to vote on GENIUS Act appeared first on CryptoSlate.

New figures from CryptoQuant show Binance has maintained dominance in altcoin deposits, logging up to 59,000 inflows during the late-2024 rally and averaging 13,000 since, while also leading USDT and USDC transfers on Ethereum and TRON ahead of Coinbase and others. The post Binance Leads in Altcoin and Stablecoin Deposits Across ETH and TRON: CryptoQuant appeared first on Cryptonews.

After clearing a key procedural vote, the GENIUS Act faces a final decision in the Senate before moving to the House of Representatives. The Guiding and Establishing National Innovation for US Stablecoins Act, known as the GENIUS Act, now faces a key vote in the United States Congress, and the stakes for the cryptocurrency industry are high. If the US Senate passes the GENIUS Act on Tuesday, it would mark a significant step toward establishing a regulatory framework for stablecoins, delivering a potential win to both the crypto industry and the Trump administration, which is endorsing the bill. Approval in the Senate would send the legislation to the House for further consideration. The Senate voted 68-30 to advance the bill on June 11, opening the GENIUS Act up to amendments before a final vote. Several Democrats joined a majority of Republicans to win the cloture vote. Read more

JP Morgan is officially launching its own cryptocurrency, the JPMD token, per reports.

The US Securities and Exchange Commission is using all tricks up its sleeve before making a decision on the spot XRP ETF.

Bitcoin, Ethereum, and other coins are down after President Trump threatens to have Iran's leader assassinated.

Ethereum has slipped 3% to $2,555 yet has maintained its month-long range as whales bought nearly 800,000 ETH a day, and ETFs have absorbed $21 million in a single session. Analysts note a golden cross has emerged and believe holding the 50-day average could open a pathway to $3,000 and beyond. The post Ethereum Whales Snap Up 871K ETH; BlackRock and Fidelity Bets Indicate Imminent $3K Breakout appeared first on Cryptonews.

Some uncertainties remain around the GENIUS Act that could establish U.S. stablecoin rules, and theories abound about how Tether may respond.

JP Morgan warns of an "overcrowding" stablecoin market while major banks await regulatory clarity. The GENIUS Act faces a crucial Senate vote today.

How do you appraise the value of a decentralized network? William Mougayar says every new era of the internet requires a new way of thinking about value.

Coinbase is seeking permission from the U.S. Securities and Exchange Commission (SEC) to launch blockchain-based equities, Reuters reported on June 17, citing the exchange’s chief legal officer, Paul Grewal. The plan would enable Coinbase to offer digital tokens that represent ownership in publicly listed companies, effectively merging traditional equity markets with blockchain infrastructure. If greenlit, […] The post Coinbase seeking SEC approval to offer blockchain-based equities appeared first on CryptoSlate.

SHIB experienced a 3.5% decline amid broader crypto market losses and U.S. stock market weakness.

“The panic of ‘22 showed that much like in TradFi, liquidity and solvency are intimately bound up with each other,” said Cycles’ Ethan Buckman. The fallout from the 2022 crypto bear market still reverberates across the industry, with unsecured credit conditions not fully recovered from the panic crash that engulfed lenders like BlockFi, Celsius, Voyager and, ultimately, FTX.  Three years later, privacy-preserving clearing protocol Cycles is attempting to build a foundation for sustainable credit markets to reemerge.  In May, the company launched a pilot version of Cycles Prime, which acts like a decentralized clearing house, enabling crypto trading firms to net and clear outstanding payments without collateral or escrow. The pilot was reserved for institutional crypto trading firms that want to reduce credit usage without central counterparties. Read more