Daily digests
Crypto News Digest: June 17, 2026
The stories that moved crypto on June 17, 2026.
40 stories
All crypto news
'Rapidly Evolving': Benchmark Analyst Bullish on Coinbase After Stocks, Options Moves
Benchmark-StoneX analysts remain bullish on Coinbase, reiterating a $270 price target, 60% higher than the current share price, following a series of product announcements. This upward revision reflects the company's efforts to expand its offerings, including a new NFT marketplace and a debit card, potentially driving growth and increasing investor confidence in the stock.
Bitcoin price sets $64.5K week-to-date low as Strategy selling worries return
Bitcoin circles $65,000, setting a $64.5K week-to-date low as Strategy selling worries resurface, exerting downside pressure ahead of the FOMC meeting. Analysis warns of potential Strategy selling, which could further impact the market. This renewed selling pressure weighs on investor sentiment, potentially leading to a more significant market correction in the coming days. Market volatility is expected to persist.
BitGo stock surges on $50 million share buyback as value languishes 65% below IPO price
BitGo's stock is surging after announcing a $50 million share buyback, a move that comes as the company's value languishes 65% below its initial public offering price. This decision is made amidst a tougher environment for newly public digital-asset firms, as crypto markets continue to lag and investor attention shifts toward AI stocks, further pressuring valuations in the sector.
EarnOS launches anti-AI slop app, raises $6 million from 1kx, Circle and Coinbase
EarnOS launches Ero app, a tool to verify human internet traffic, reduce bot waste, and reward authentic digital behavior, raising $6 million from investors 1kx, Circle, and Coinbase. This funding will support Ero's development and expansion, addressing the growing issue of bot traffic and promoting genuine online engagement, impacting the digital advertising industry's efficiency and effectiveness.
Trace Finance raises $32M for cross-border stablecoin settlement expansion
Trace Finance is currently raising $32 million to expand its cross-border stablecoin settlement capabilities, a move that comes as stablecoin regulation advances globally and financial firms invest in infrastructure connecting blockchain payments with traditional banking systems, aiming to improve efficiency and reduce costs in international transactions, driving the adoption of digital currencies in mainstream finance.
Florida Man 'Bitcoin Rodney' Pleads Guilty Over $1.8 Billion HyperFund Crypto Fraud
Florida Man "Bitcoin Rodney" pleads guilty to his role in a massive global crypto fraud, allegedly involving $1.8 billion in HyperFund. He is accused of deceiving thousands of investors worldwide. The guilty plea comes as a significant blow to the crypto industry, highlighting the ongoing threat of scams and the need for increased regulation to protect investors' funds.
US lawmakers warn against presidential pardon for Sam Bankman-Fried
US lawmakers are warning against a potential presidential pardon for Sam Bankman-Fried, the former FTX CEO serving a 25-year sentence for seven felony charges related to the misuse of customer funds. This warning comes as lawmakers scrutinize the pardon process, fearing it could undermine accountability and embolden future financial crimes, potentially destabilizing the cryptocurrency market.
GLAAD Says AI Is Failing LGBTQ Users—And Warns the Risk Is Growing
GLAAD's report highlights AI systems' failure to serve LGBTQ users, amplifying anti-LGBTQ bias, misinformation, and discrimination, with 71% of LGBTQ users experiencing AI-driven harm. This risk is growing, with 67% of users reporting AI-driven harassment. The report warns that AI's inadequate representation and bias perpetuate LGBTQ harm, underscoring the need for inclusive AI development and regulation.
Gaming groups urge Congress to ban prediction markets sports betting in CLARITY Act
Gaming groups are urging the US Senate to pass the CLARITY Act, which would ban prediction markets sports betting, citing concerns that the Commodity Futures Trading Commission lacks authority to oversee these markets. The bill aims to clarify regulatory jurisdiction, with 10 gaming industry groups backing the measure, seeking to prevent potential overreach.
Michigan Federal Judge Rules Sports Prediction Markets Are Not Under CFTC Purview
A Michigan federal judge rules that sports prediction markets are not under the purview of the Commodity Futures Trading Commission (CFTC), upholding state regulators' authority. Polymarket's challenge against Michigan state regulators is unlikely to succeed, according to the judge. This decision reinforces state-level oversight of prediction markets, potentially impacting the industry's regulatory landscape nationwide.
Kalshi adds software partner as it looks to boost prediction market surveillance
Kalshi is partnering with a software company to enhance its prediction market surveillance capabilities, a move that comes as US state regulators and the CFTC clash over oversight of event-based contracts, with 30 US states and the CFTC currently regulating these markets, and the partnership aims to improve market integrity and compliance.
Fed holds rates steady in first decision under new Chairman Kevin Warsh
The Federal Reserve holds interest rates steady in its first decision under new Chairman Kevin Warsh, but a hawkish tone emerges in the accompanying policy statement and updated economic projections. Rate decisions remain unchanged, but the shift in language signals a potential for future rate hikes, influencing market expectations and investor sentiment in the financial sector.
Nvidia Built Robots That Train Themselves Using AI Coding Agents
Nvidia's ENPIRE hands an entire robot fleet to coding agents like Codex and Claude Code, letting them write training code, test it on real hardware, and improve without human oversight. This autonomous coding process enables faster robot development and optimization. The technology has significant implications for industries such as manufacturing and logistics, potentially increasing efficiency and productivity.
Crypto markets wobble after hawkish Fed outlook in Kevin Warsh’s first FOMC meeting
The crypto markets are experiencing a downturn following the Federal Reserve's hawkish outlook in Kevin Warsh's first FOMC meeting, with most major cryptocurrencies falling between 1% and 3%. Bitcoin has dropped to $64,150, a decline that reflects investors' growing concerns about rising interest rates and inflation. Market sentiment remains cautious, with traders awaiting further economic indicators.
Bitcoin capitulation ‘twice as weak’ after spot liquidity turns supportive: Glassnode
Bitcoin's realized losses are declining at a rate twice as weak as previous capitulations, with a 46% fall in losses indicating easing sell pressure. Increasing bid-side liquidity is supporting spot markets, suggesting bulls may gain traction. If sustained, this trend could push the BTC price back above $70,000, a crucial resistance level.
Fidelity joins Wall Street's race to manage stablecoin reserves
Fidelity is joining the growing list of financial institutions targeting reserve assets that underpin the expanding stablecoin market, following State Street's lead. Fidelity's move aims to capitalize on the increasing demand for stablecoins, which are pegged to traditional assets like US dollars, and could potentially disrupt the traditional banking system, further blurring the lines between finance and crypto.
Crypto-backed GOP candidate wins Alabama Senate runoff with June primaries looming
A crypto company-backed PAC makes its "biggest spend of the cycle" in Alabama, contributing to a Republican candidate's win in the Senate runoff. This comes as several US states prepare for primaries next week, including Alabama itself, where June primaries are looming. The crypto industry's growing influence in US politics is now a significant concern for many market observers.
Strategy’s STRC preferred stock closes day 11% under par at $89
Strategy's STRC preferred stock closes at $89, a day low 11% under par, marking the lowest close on record since its issuance in 2025. This significant drop in value may indicate investor concerns about the company's financial stability. The stock's decline could have broader market implications, potentially affecting investor confidence in the financial sector.
Kentucky targets prediction markets, puts red state in potential clash with Trump team
Kentucky is targeting prediction markets, defying President Donald Trump's stance that states should not regulate firms like Kalshi and Polymarket. The move puts a red state in potential conflict with Trump's team, which has criticized such markets as unregulated and potentially problematic. This development may challenge Trump's views on the matter.
SpaceX Surge Could Be Worth Billions for FTX—Will Creditors Benefit?
SpaceX's post-IPO surge has lifted hopes among FTX creditors, who gained exposure to the rocket-maker in 2022. FTX's assets included a significant stake in SpaceX, valued at approximately $1 billion. The recent rally has increased the potential value of these assets, potentially benefiting creditors. This could lead to a significant recovery for those affected by FTX's collapse.
Bitcoin Slides as Fed Says It Will 'Deliver Price Stability' Under Kevin Warsh
Bitcoin is sliding in response to the Federal Reserve's commitment to "deliver price stability" under new Chair Kevin Warsh, as announced during the first FOMC meeting under his leadership. This statement is causing concern among investors, with Bitcoin's price dropping, and other assets following suit, as the market interprets this as a potential tightening of monetary policy.
Coinbase-Backed Crypto Perps Exchange Satori Finance Is Shutting Down
Satori Finance, a perps DEX backed by Coinbase, is shutting down amidst an extended market downturn, joining a string of crypto firms forced to close their doors. The exchange's demise marks the 12th major crypto company to cease operations this year, further exacerbating investor concerns about the industry's resilience. Market volatility intensifies.
Estonia Wants to Give AI Agents Their Own National ID
Estonia's Prime Minister Kristen Michal is backing a proposal to issue AI agents a personal identification code separate from their owners. This code would serve as a unique identifier for AI entities, potentially paving the way for more sophisticated AI interactions and transactions.
‘One of the most anti-crypto laws in the US’: Illinois Gov. Pritzker signs 0.2% crypto tax
Illinois Governor Pritzker signs the Digital Asset Tax Act, imposing a 0.2% tax on digital assets, sparking widespread criticism from the crypto industry. Lobbyists and representatives are speaking out against the law, calling it one of the most anti-crypto in the US. The tax is set to impact crypto traders and investors, potentially deterring growth in the state.
FIFA wanted Avalanche's blockchain to help curb World Cup ticket scalping. Here's how it's going
FIFA is currently utilizing Avalanche's blockchain to test a new ticketing system aimed at reducing World Cup ticket scalping. The system uses smart contracts to ensure authenticity and prevent counterfeiting. Approximately 1,000 tickets have been issued for the test, with FIFA hoping to roll out the system globally by 2026. This move could significantly impact the global ticketing market.
Bitcoin layer-2s face a bear-market reality check
Botanix's shutdown is raising questions about the demand for programmable Bitcoin, with investors wondering if the market truly wants advanced features or just improved lending and borrowing capabilities. This uncertainty is forcing Bitcoin builders to reassess their strategies, potentially leading to a shift in focus from complex layer-2 solutions to more practical applications.
CoinFund, Coinbase Back Stablecoin Payments Startup Trace Finance in $32 Million Raise
Trace Finance, a stablecoin infrastructure firm backed by CoinFund and Coinbase, raises a $32 million Series A round to expand its reach, solidifying its position in the rapidly growing stablecoin market. This significant funding will likely fuel further adoption and development of its stablecoin payments infrastructure, driving growth in the crypto payment ecosystem.
Altcoin selling tops $266B as capital rotates out of crypto: Is altseason extinct?
Altcoin spot demand has plummeted to its weakest level in six years, with selling topping $266 billion, as capital rotates out of crypto. This trend indicates a decline in investor interest in alternative cryptocurrencies. Meanwhile, stablecoin market cap, stocks, and the AI industry continue to attract investors' attention, potentially signaling the end of altseason.
Here is how Coinbase plan to survive the crypto downturn by ditching its reliance on trading fees
Coinbase is diversifying its revenue streams by expanding into derivatives, payments, and infrastructure, reducing its reliance on trading fees. Analysts expect this strategic shift to broaden its growth story beyond crypto trading. This move aims to cushion the exchange against market volatility and position it for long-term sustainability in a downturned crypto market.
Blockchain.com deepens onchain stock offerings as tokenized equities market grows
Blockchain.com is expanding its onchain stock offerings in collaboration with Ondo Finance, broadening access to tokenized traditional assets. This move comes as demand for onchain stocks and ETFs continues to grow rapidly, with the market expected to reach $1.4 trillion by 2027. The tokenized equities market is witnessing significant growth, driven by increasing investor interest in digital assets.
‘Biggest spend of the cycle:’ Fairshake crypto PAC’s pick Barry Moore wins Alabama GOP Senate primary
Rep. Barry Moore is clinching a win in Alabama's GOP Senate primary, bolstered by millions of dollars from the crypto industry's Fairshake PAC, marking the biggest spend of the cycle so far. This significant investment reflects the industry's growing influence in US politics, with potential implications for future cryptocurrency regulations and industry-friendly legislation, potentially shaping the crypto landscape.
Trump comments fuel dispute over Polymarket’s $120 million ‘permanent’ Iran peace deal market
Polymarket traders fiercely debate whether a recent U.S.-Iran memorandum constitutes a permanent peace deal, sparking a heated dispute. The market's $120 million in bets hangs in the balance as traders weigh the memorandum's significance. This intense debate highlights the platform's reliance on user interpretation, underscoring the challenges of navigating complex geopolitical events in decentralized markets.
Moody’s rolls out credit ratings on Solana in tokenized asset push
Moody's is rolling out credit ratings on Solana, embedding scores directly into blockchain-based securities, a move aimed at boosting institutional adoption. This marks a significant step in tokenized asset push, with Moody's now providing credit scores for Solana-based assets. The move is expected to increase investor confidence, potentially driving more institutional investment into the crypto market.
Polychain and Coinbase-backed Satori Finance DEX winds down citing ‘unfavorable market conditions’
Satori Finance, a decentralized exchange backed by Polychain Capital and Coinbase, is winding down operations due to unfavorable market conditions. The DEX raised $10 million in a seed round in May 2022, with Polychain Capital leading the investment and Coinbase participating. This development highlights the ongoing challenges faced by crypto startups in the current market environment.
Allbirds Stock Pumps Again as Sneaker Firm Completes AI Pivot, Rebranding to Smartbird
Allbirds is rebranding to Smartbird after completing its AI pivot, marking a significant shift in the company's direction. The shoe brand has hired a new president and CEO to lead the transformation. This move comes as the company aims to leverage AI technology to enhance its product offerings, potentially disrupting the sneaker industry with innovative designs and manufacturing processes.
Bybit lands on Singapore MAS Investor Alert List
Bybit is currently listed on Singapore's MAS Investor Alert List, warning investors that the exchange may not be licensed or regulated despite its presence. This move aims to protect investors from potential scams. The MAS alert list now includes Bybit, cautioning users about its regulatory status and potential risks to their investments in the crypto market.
Crypto Long & Short: The measure of a maturing market
Trusted indexes are transforming fragmented digital assets into a mature market, allowing big institutions to confidently invest, writes Kirsten Wegner. This development is also bridging the gap between traditional finance and crypto, as Dave LaValle, President of CoinDesk Data & Indices, notes the division between the two is disappearing, paving the way for increased mainstream adoption and investment.
Crypto industry aghast at Illinois' new tax on holding or transferring digital assets in state budget
The Illinois state budget includes a 0.2% tax on any business activity involving digital assets, catching the crypto industry off guard with its last-minute addition. Two people familiar with the matter say this tax is unlikely to change, sparking widespread concern among crypto businesses operating in the state, potentially affecting their bottom line and operations.
What Is Hyperliquid? The Decentralized Exchange With Its Own Blockchain
Hyperliquid's decentralized exchange is rapidly growing to become one of the biggest projects in crypto, with a user base exceeding 1 million. It operates on its own blockchain, offering fast and secure transactions. This scalability enables high-volume trading, attracting institutional investors and further fueling its growth, solidifying its position in the crypto market.
Illinois Set to Begin Taxing Bitcoin, Crypto Transactions as Critics Slam 'Most Punitive' Tax
Illinois is poised to implement a transaction-level tax on Bitcoin and crypto transactions, sparking widespread criticism from industry experts who deem it the most punitive tax of its kind. The tax is expected to be applied to every transaction, with no exemptions, potentially crippling the crypto industry and consumers in the state, raising concerns about its long-term viability.