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Crypto

U.S. crypto Clarity Act clash pits Ripple CEO against JPMorgan\'s business model

Ripple CEO Brad Garlinghouse rebutted JPMorgan CEO Jamie Dimon over the U.S. Clarity Act, saying Dimon is distorting the bill and should be clearer about why he wants to keep the current system. The dispute focuses on a provision allowing platforms such as Coinbase to offer rewards to users who deposit stablecoins. Garlinghouse said JPMorgan opposes the bill to protect its existing business model. The bill has cleared a Senate committee vote but still needs final Senate approval.

Crypto

Crypto exchanges could bring 300 million new stock investors by 2031, Binance Research says

Cryptocurrency exchanges could emerge as a new channel for global stock investment, a report said. Binance Research said tokenised stocks could bring about 300 million new investors and about $2 trillion in additional funds into global stock markets by 2031. It called stock tokenisation a potential “third turning point” after the Dutch East India Company’s first IPO and the opening of Nasdaq’s electronic exchange. The report cited access gaps across countries and highlighted stablecoins as a key infrastructure factor.

Crypto

Funds shift to semiconductors, AI as bitcoin suffers worst week since February

Bitcoin is down 13 percent so far in June, heading for its worst week since February as key narratives weaken and money shifts to other assets. Bitcoin spot ETFs logged net outflows for 13 straight sessions through June 4, the longest on record, while total ETF assets fell to $82.8 billion from $107.8 billion on May 14. Strategy disclosed a small bitcoin sale, and long liquidations rose to $594 million over 24 hours.