Israel’s Attack on Iran Shook Markets
Bitcoin lost more than 4% of its value, falling to $102,700, after Israel launched airstrikes on targets in the Iranian capital of Tehran. The attack, first reported by Axios, was later confirmed by Al-Jazeera. Israeli Prime Minister Netanyahu announced that his country aims to eliminate Iran’s ballistic missile capabilities and that the attacks will continue until the threat is over.
The development comes just after the International Atomic Energy Agency announced that Iran was not complying with its limits on enriched uranium. NBC reported that Israel was evaluating the attack in response to this development. US President Trump stated that they prefer to make a deal with Iran, but that the attacks could lead to a large-scale conflict. Investors in Polymarket were pricing the probability of an Israeli attack below 30% until July.
SEC Officially Withdraws DeFi and Custody Rules Under Gensler
The SEC has officially withdrawn rule changes proposed under former Chairman Gary Gensler that aimed to bring DeFi platforms under the definition of a traditional securities exchange. In addition, custody rule changes that required investment advisors to hold crypto assets only with qualified custodians were also rescinded. These rules had been criticized for making banking access in the sector even more difficult.
New SEC Chairman Paul Atkins has been sending more positive messages, especially on DeFi and individual custody rights. Policy organizations like Paradigm have stated that this withdrawal could open the door to new regulations that are clearer and prepared in collaboration with the sector. The SEC’s step back represents a noticeable softening of the agency’s stance on the crypto sector.
US Senate to Vote on GENIUS Stablecoin Act on June 17
The US Senate will vote on the GENIUS Act on June 17, which aims to create a comprehensive regulatory framework for stablecoins. The law requires stablecoins to be fully backed by US dollars or similar liquid assets and requires annual audits for large issuers. It is also planned to introduce special compliance rules for foreign issuers.
If the bill passes the Senate, it will move to the House of Representatives. However, there are some incompatibilities with the STABLE Act prepared by the House. In particular, issues such as federal and state regulatory authority and oversight of foreign issuers like Tether differ. The stablecoin laws, which have the clear support of President Trump, are aimed to come into force by August. Treasury Secretary Scott Bessent said that the regulations could push the USD stablecoin market past $2 trillion by 2028. The current market value is $252 billion.
A New Turn in the Ripple and SEC Case
Ripple and the U.S. Securities and Exchange Commission (SEC) have taken an important step towards ending the four-year-long lawsuit. The parties filed a joint application in federal court in Manhattan to lift the injunction on XRP and release the $125 million escrow fund. Under the agreement, Ripple will pay a $50 million penalty to the SEC; the remaining funds will be returned to the company.
This move marks the closing stages of the lawsuit, which began in 2020 and is based on Ripple’s claim that its XRP sales were unregistered securities. In 2023, the court ruled that programmatic sales of XRP on exchanges did not constitute a security. However, a violation decision was made for institutional sales. After this decision, the SEC first requested a $ 2 billion fine, then reduced this request to $ 125 million. Now, the file can be closed with a payment of only $ 50 million. This development is seen as a reflection of the SEC, under President Donald Trump, moving away from the tough stance towards crypto under previous Chairman Gensler.
SEC Postpones DOGE and HBAR ETFs
The U.S. Securities and Exchange Commission (SEC) has again postponed the decision process for new ETF applications for assets such as Dogecoin and Hedera (HBAR). The review period for Bitwise’s Dogecoin ETF, Grayscale’s Hedera Trust and Canary Capital’s HBAR ETF applications has been extended. The SEC is seeking more public comment, citing investor protection and prevention of market manipulation.
In addition, a total of four Solana ETF applications filed by Bitwise, 21Shares, VanEck, and Canary Capital have been postponed to July 2025. Grayscale’s Cardano ETF is set for a new decision on July 15, while Bitwise’s Ethereum staking ETF is set for July 6. According to Bloomberg analyst Eric Balchunas, there are around 72 crypto asset ETFs awaiting approval by the SEC, suggesting the regulator remains cautious. The SEC emphasizes that these delays do not mean a final rejection or approval, only further evaluation.
Trident Digital’s $500 Million XRP Treasury Move
Singapore-based Web3 company Trident Digital announced that it plans to create a $500 million treasury based on XRP. The fund will be supported by share issuance and strategic financing vehicles. CEO Soon Huat Lim stated that this step reflects the company’s belief in blockchain technology and cross-border value transfer. However, despite this statement, the company’s shares fell by 37.6%. Trident’s net loss as of the end of 2024 was $3.1 million, while annual revenue decreased by 91.4%, and operational expenses doubled.
Trident plans to use this reserve not only for buying and selling, but also for staking and deep integration with the Ripple ecosystem. The reserve creation process will begin in the second half of 2025, depending on regulatory approvals and market conditions. Similarly, Chinese Webus announced plans to establish $300 million, VivoPower $100 million, and Wellgistics Health $50 million XRP reserves.
DeFi Giant Signs $5 Billion Funding Agreement for Solana Acquisition
Nasdaq-listed DeFi Development Corp. has signed an “ELOC” agreement with RK Capital Management to increase its SOL assets. Thanks to this structure, the company will be able to spread its share sales over time and raise funds under favorable market conditions. The agreement must be filed with the SEC on Form S-1 for it to enter into force.
The company will use the funds to increase Solana acquisition and staking revenues. CEO Joseph Onorati emphasized that this move presents a strategic opportunity to increase the amount of SOL per share and accumulate validator rewards. The plan highlights Solana’s growing appeal among institutional investors in 2025. The DeFi giant has also filed a second application to register shares issued in past funding rounds.
Tether Acquires 32% of Elemental for Gold Investment
Tether has acquired approximately 32% of Canadian-based precious metals royalty company Elemental Altus Royalties Corp. for $89.2 million. The investment comes as part of Tether’s strategy to integrate long-term and stable assets such as gold and Bitcoin into its ecosystem. The move gives the company indirect exposure to global gold production through royalty and “streaming” models without being exposed to direct mining risks.
Tether acquired the shares under a private agreement from La Mancha Investments. In addition, Tether has the option to acquire an additional 34.4 million Elemental shares by the end of 2025. If this option is exercised, his share in the company will increase to 47.7%. According to Tether CEO Paolo Ardoino, this investment is not only financial, but also part of the infrastructure construction for the digital economy. It is known that Tether currently holds more than 100,000 BTC and about 80 tons of physical gold.
Maple and Lido Partner to Offer Stablecoin Loans Collateralized by stETH
Crypto lending platform Maple has partnered with Ethereum staking giant Lido Finance to offer stablecoin loans collateralized by stETH to institutional customers. Thanks to this model, institutions will be able to provide stablecoin liquidity without having to unstake their stETH. Loans will be collateralized by Maple’s own lending team.
stETH is a liquid asset that provides usability in DeFi applications while preserving the returns from Ethereum staking. The new product; It addresses a variety of institutional needs, including treasury management, cautious leveraged trading, and short-term cash flow needs. Maple said it took this step in response to increasing institutional demand.
Chainlink, JPMorgan, and Ondo Test Cross-Chain Treasury Payments
Chainlink, JPMorgan’s Kinexys platform, and Ondo Finance successfully tested a cross-chain delivery-versus-payment (DvP) model. The test took place between JPMorgan’s permissioned payment network Kinexys and the public Ondo Chain testnet, and used Chainlink’s Runtime Environment (CRE).
The CRE orchestrated the transaction steps, verified asset movements on the Ondo Chain, and provided final reconciliation by forwarding payment instructions to Kinexys. The transaction used Ondo’s tokenized Treasury bond fund, OUSG. This development shows how critical cross-chain integration has become in the RWA (real-world asset) market, which is set to grow by 260% in the first half of 2025 and exceed $23 billion.
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BITCOIN(BTC)
Following the recent rejection move from the 111,861.50 resistance, the price entered a strong downward momentum and broke two key supports at 107,319.15 and 105,778.70. Current momentum suggests that the decline has the potential to continue towards the next important support area around 101,315.84.
ETHEREUM(ETH)
ETH faced a strong rejection from the resistance area near 2,874.86 recently, which prevented further gains. This rejection triggered a significant selling wave, causing the price to break the 2,679.88 support. The price is currently trading just above the 2,550.14 support level. If this level fails to hold, the next target for sellers is likely to be the lower support level at 2,385.31.
RIPPLE(XRP)
The price in XRP failed to hold above the resistance area around 2.3600, which led to a reversal. This decline gained momentum and clearly broke the intermediate support at 2.2819. The price is currently in a sharp decline and is heading towards the major support level at around 2.0650, which previously served as a significant price floor.
AVALANCHE(AVAX)
After a rally attempt in AVAX that was stopped at the 22.79 resistance, a strong downtrend dominated. The selling pressure was intense enough to break the 21.48 support and then the 20.25 level with little hesitation. The chart is indicating strong bearish momentum and the price is currently trading in an open range; this suggests there is potential for further declines before finding the next support.
SOLANA(SOL)
The price on SOL experienced a sharp decline after failing to maintain its position above the 166.26 level. It is currently testing a critical demand zone highlighted in orange, located between approximately 140.00 and 150.00. This area represents a significant historical support zone. Failure to hold within this zone would be a strong bearish signal and could open the door to a much deeper correction.
