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ETH Faces $1K Risk as Key Support Breaks; Futures Traders in Focus

Ether’s futures landscape is undergoing a pronounced reset as leverage and liquidity retreat from major venues. Gate.io’s open interest (OI) in ETH futures plunged about 45% to roughly $2.68 billion on June 9, levels last seen in April 2025, while hefty outflows trimmed exchange-held ETH across Binance, OKX, Gemini and Bitfinex by about 480,000 ETH over the past several days. The confluence of shrinking leverage and thinning on-exchange supply concentrates attention on the $1,500 support zone, a level that analysts say is pivotal for preventing a deeper slide toward $1,000 if demand falters. Analysts point to a broad market reset in ETH futures as traders recalibrate risk after a volatile stretch. CryptoQuant’s data show total ETH open interest across exchanges has fallen roughly 25% since May, sliding from about $16.6 billion to $12.6 billion and returning to levels last seen in April 2025 on several platforms. The retreat underscores a shift away from elevated long positions that cha...
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Solana Institute: CLARITY Act shields OSS devs from intermediary rules

Solana Institute CEO Kristin Smith is urging the US Senate to advance the CLARITY crypto market structure bill while preserving protections for developers. The core argument is that open-source software developers and blockchain infrastructure providers should not be regulated as financial intermediaries merely for publishing or maintaining software that others use. According to Cointelegraph, Smith emphasized that maintaining these protections is critical as the legislation gains momentum in the upper chamber. In a thread on X, Smith noted that the bill “has a real shot at passing the Senate,” underscoring the importance of lawmakers safeguarding robust protections for software developers. The push reflects a broader policy debate about how to regulate the ecosystem without stifling innovation or imposing onerous requirements on non-custodial actors within decentralized networks. Smith highlighted that more than 60 crypto executives and founders have signed an open letter urging the S...
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Solana Institute CEO: CLARITY Act Must Shield Open-Source Devs

The US policy debate over crypto market structure is intensifying as lawmakers weigh landmark legislation that could redefine how developers and infrastructure providers fit into the regulatory landscape. Kristin Smith, CEO of the Solana Institute, urged the Senate to pass the CLARITY crypto market structure bill with robust protections for developers intact, arguing open-source software maintainers and blockchain infrastructure providers should not be treated as financial intermediaries. In a thread on X, Smith said the measure “has a real shot at passing the Senate,” underscoring the importance of preserving protections for software developers as the bill advances. More than 60 crypto CEOs and founders signed an open letter backing the protections, including Solana’s co-founder Anatoly Yakovenko, signaling broad industry concern about how the bill would classify noncustodial participants in the ecosystem. Smith emphasized that open-source developers, validators and non-custodial wall...
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MiCA Architect Urges EU to Focus on Tokenization, Not DeFi Rules

The European Union is signaling a regulatory shift in its digital assets regime, prioritizing a broad framework that covers real-world assets and tokenization rather than extending MiCA to govern decentralized finance (DeFi). An adviser to the European Commission indicated that a wider, asset-backed regulatory lens could be more effective for the bloc, even as MiCA itself remains in play through a formal review process. In May, the European Commission opened a public consultation on MiCA, inviting feedback through August 31 as policymakers weigh the future direction of the bloc’s crypto rules. The review aims to gather input on whether a second version of MiCA is warranted and how gaps in the current regime should be addressed. Peter Kerstens, one of MiCA’s principal architects, told Cointelegraph at the WAIB Summit Monaco 2026 that he does not believe MiCA is inherently outdated, but he stressed the value of the ongoing consultation in shaping the next regulatory steps. “That’s my per...
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Bitwise: Bitcoin Signals Broad Risk-Off Amid Market Pressure

Bitcoin’s latest price action may illuminate something bigger than a routine risk-off move: it underscores how liquidity conditions and macro forces influence the crypto market ahead of traditional assets. According to Bitwise, BTC often serves as a “canary in the macro coal mine,” reacting to shifts in liquidity and financial conditions before equities do. With stock indices under pressure and rate expectations shifting, Bitcoin’s slide fits a broader narrative about how crypto assets are pricing in the evolving liquidity backdrop. The latest market snapshot shows BTC and Ether at the low end of their cycles, with BTC at around the $58,000 mark and Ether near $1,507, as global risk assets came under renewed strain. The Nasdaq endured its sharpest daily decline in months, while South Korea’s KOSPI triggered a temporary trading halt after a semiconductor-led sell-off. In the background, stronger-than-expected US labor data dampened expectations for rapid Federal Reserve easing, keeping ...
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BBB Ad Watchdog Refers Kalshi to Regulators Over Influencer Inquiry

The BBB’s National Advertising Division (NAD) has escalated its scrutiny of Kalshi, the centralized event-prediction platform, by referring the matter to regulatory authorities after Kalshi declined to participate in NAD’s voluntary review of its social media advertising practices. The referral, which names applicable state Attorneys General for potential enforcement action, underscores growing regulatory focus on how prediction-market platforms market themselves to retail users and disclose paid promotions in influencer-driven campaigns. In its statement, NAD explained that the inquiry assessed whether influencers and affiliates clearly disclosed paid relationships in social media promotions and whether Kalshi adhered to Federal Trade Commission endorsement guidelines. The division noted that Kalshi chose not to participate in the voluntary review, and as a result, NAD will inform the social media platforms where Kalshi ads appeared. The central issue, according to NAD, was whether ma...
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RLUSD Surges With $275M Liquidity Boost as XRP Ledger Activity Jumps

RLUSD Records Strong Minting Activity on XRP Ledger Ripple USD (RLUSD) recorded a strong liquidity increase during the past week as activity expanded across the XRP Ledger. Fresh minting transactions significantly exceeded token redemptions during the period. Consequently, the stablecoin added more than $275 million in net liquidity while its market capitalization continued to grow. RLUSD experienced a notable rise in network activity over the last seven days. Several large minting and redemption transactions took place on the XRP Ledger. As a result, the stablecoin supply expanded during the reporting period. Data from XRP Ledger activity showed substantial token creation across multiple days. On May 22, RLUSD Treasury minted more than 10 million RLUSD. Meanwhile, additional minting and burning transactions occurred on May 21 and May 20. The largest transaction involved the creation of 230 million RLUSD on the XRP Ledger. At the same time, Ripple removed smaller amounts of RLUSD from ...
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