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The AllePay-ALPY weekly Top 10 Crypto and Blockchain Newsletter for June 16-22, 2025, covers significant global developments. The U.S. Senate passed the GENIUS Act, establishing a federal stablecoin regulation framework, boosting Circle’s stock by 400%. Bitcoin fell below $100,000 due to U.S.-Iran tensions, causing a $1.01 billion market liquidation, though stabilization emerged. Coinbase launched USDC payments on Shopify via its Base network, enhancing mainstream crypto adoption. Canada approved its first XRP ETF, signaling Ripple’s growing global influence. PAX Gold rose 1.81% amid volatility, while TRON announced a reverse merger to go public. JPMorgan piloted its $JPMD deposit token, and a French bank launched the USDCV stablecoin. Kaanch Network’s presale gained traction, and Cardano’s price dropped but showed rebound potential.
Sources: Yahoo Finance, Cointelegraph, Reuters, BeInCrypto, and official X posts from @Cointelegraph, @Coinbase, and others.
1. Senate Passes GENIUS Act for Stablecoin Regulation
The U.S. Senate passed the GENIUS Act on June 17, establishing the first federal framework for stablecoin regulation, a major win for the crypto industry. The legislation empowers the Federal Reserve and OCC to oversee issuers with over $10 billion in assets, while smaller issuers fall under state regulators. Circle’s stock surged 400% since its June 5 IPO, reflecting strong investor enthusiasm for stablecoins. The Act is expected to enhance trust in stablecoins by ensuring transparency and reserve audits. Industry leaders hailed the move as a step toward global regulatory clarity.
2. Crypto Market Crashes After U.S.-Iran Tensions
Bitcoin dipped below $100,000, trading at $99,932.23 on June 22, following U.S. airstrikes on Iran’s nuclear sites, triggering a $1.01 billion market liquidation. Ethereum led liquidations with $300 million, as major altcoins also faced sharp declines amid geopolitical uncertainty. The market drop, down 8% overall, highlighted crypto’s sensitivity to global events, though stabilization signs emerged. Investors are now monitoring Middle East developments closely for further impact. Safe-haven assets like gold-backed tokens saw increased interest during the downturn.
3. Coinbase Launches USDC Payments on Shopify
Coinbase introduced Coinbase Payments, enabling instant USDC transactions on Shopify via its layer-2 network, Base, boosting stablecoin adoption. The platform simplifies merchant crypto transactions, reducing blockchain complexity and encouraging mainstream use. This move builds on Coinbase’s partnership with Circle and Shopify, announced earlier in June. Merchants benefit from lower transaction fees compared to traditional payment systems. The initiative is part of Coinbase’s broader strategy to integrate crypto into everyday commerce.
4. Canada Approves First XRP ETF
Canada’s securities regulator approved the country’s first XRP exchange-traded fund (ETF) on June 20, offering investors direct exposure to Ripple’s native token. The ETF, managed by 3iQ, tracks XRP’s price and is listed on the Toronto Stock Exchange, marking a milestone for Ripple’s adoption. The approval follows Canada’s progressive stance on crypto ETFs, with Bitcoin and Ethereum funds already thriving. Analysts expect the ETF to attract significant institutional capital, boosting XRP’s liquidity. Ripple’s ongoing SEC case in the U.S. makes Canada’s move a notable contrast in regulatory approaches.
5. PAX Gold Leads Weekly Gainers
PAX Gold ($PAXG) emerged as the top gainer, rising 1.81% to $3,454.83 with a 24-hour trading volume of over $146 million. The surge reflects increasing demand for gold-backed stablecoins amid market volatility. Tether Gold and UNUS SED LEO also posted gains, highlighting stable assets’ appeal during uncertainty. Investors are turning to tokenized gold as a hedge against crypto and geopolitical risks. The token’s performance has drawn attention to other asset-backed cryptocurrencies.
6. TRON Goes Public via Reverse Merger
TRON blockchain announced a reverse merger with Nasdaq-listed SRM Entertainment, aiming to go public and expand its global reach. The move leverages TRON’s established platform for decentralized applications and high transaction throughput. This strategic step could enhance TRON’s visibility among institutional investors and mainstream markets. The merger is expected to provide TRON with additional capital for ecosystem growth. Analysts see this as a model for other blockchain projects seeking public listings.
7. JPMorgan Launches $JPMD Deposit Token Pilot
JPMorgan initiated a pilot for its $JPMD deposit token, building on its Kinexys platform, which processes $2 billion in daily payments. The token aims to facilitate corporate blockchain transactions, with potential for broader applications. This development signals growing institutional interest in tokenized financial instruments. The pilot involves select corporate clients testing cross-border payment efficiency. Success could lead to wider adoption of blockchain in traditional banking.
8. French Bank Launches USDCV Stablecoin
A major French bank’s crypto division launched USD CoinVertible (USDCV), a U.S. dollar-pegged stablecoin on Ethereum and Solana blockchains. Following its Euro-pegged EURCV, USDCV aims to bridge crypto and fiat for institutional and business use. The launch reflects increasing stablecoin adoption by traditional financial institutions. USDCV offers low-cost, fast transactions for global payments. The bank plans to expand its blockchain offerings to include tokenized assets.
9. Kaanch Network Presale Gains Traction
Kaanch Network’s token presale, set for listing on BitMart and LBank on June 30, positions it as a top Layer 1 blockchain contender for 2025. Its focus on scalable asset tokenization and community governance has drawn significant investor interest. Analysts predict a potential 17,600% price surge post-listing, highlighting its DeFi potential. The project’s roadmap includes partnerships with major DeFi protocols. Early investors are optimistic about its innovative approach to blockchain scalability.
10. Cardano Slumps but Signals Rebound
Cardano (ADA) fell 7.85% to $0.5478 amid a broader market sell-off, with $1.01 billion in liquidations reported on June 22. Despite a six-day decline since its June 11 high of $0.736, technical indicators suggest a potential rebound. The Cardano network also surpassed 110 million transactions, reinforcing its long-term strength. Community-driven upgrades continue to enhance its smart contract capabilities. Investors remain confident in Cardano’s fundamentals despite short-term volatility.
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