marketmoves

₿ Crypto Brief

🎯 Coinbase breach, GENIUS Act stablecoin vote, Tether mints $2B USDT on Tron, Solana leads DeFi.

🔸 Coinbase $COIN disclosed a data breach with up to $400M in potential losses, refused a $20M ransom, faces an SEC probe, and prepares for S&P 500 inclusion; stock fell over 7%.

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🔸 U.S. Senate to vote Monday on the GENIUS Act, a bipartisan stablecoin bill; new draft addresses Big Tech and political conflicts, with Trump-linked USD1 stablecoin in focus.
🔸 Tether $USDTUSD minted $2B USDT on Tron, pushing 2025 issuance to $15B and Tron's USDT supply above Ethereum for the first time.

🔸 DOJ will proceed with most charges against Tornado Cash co-founder Roman Storm; trial set for July 14, 2025, after dropping the unlicensed money transmission charge.

🔸 BlackRock $BLK's $3B sBUIDL fund integrated with DeFi on Avalanche $AVAX via Securitize's sToken, enabling on-chain collateralization of tokenized Treasuries.

🔸 JPMorgan $JPM settled tokenized Treasuries (OUSG) on public blockchain using Kinexys $JPM, Chainlink $LINKUSD, and Ondo $ONDOUSD, marking a TradFi–DeFi interoperability milestone.

🔸 Solana $SOLUSD leads with $7.96M daily revenue, 87% of blockchain transactions, 84M active wallets, and dominance in DeFi/DEX volume.
🔸 Hyperliquid exchange reports up to $1B income, HYPE token up 260% from April lows, open interest near $1B, and traders net long on SOL $SOLUSD, ETH $ETHUSD, and HYPE.

🔸 Judge Torres blocked the SEC-Ripple $125M-to-$50M settlement, returning $75M escrow to Ripple; XRP $XRPUSD trades at $2.42, down 1.6% on the day but up 366% YoY.