Home/Guide/Market Insights/Others/MEXC Daily News (June 27) | U.S. Crypto Policy & Market Updates: Ripple Battles SEC, PayPal Advances Stablecoin Efforts
MEXC Daily News (June 27) | U.S. Crypto Policy & Market Updates: Ripple Battles SEC, PayPal Advances Stablecoin Efforts
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1. Market Overview
According to MEXC data, ETH is currently trading at 2,426.37 USDT, up 0.43% in the past 24 hours.
For more updates on cryptocurrency prices and macroeconomic trends, visit MEXC Markets.
2. Industry Data Analysis
2.1 Fear & Greed Index Drops to 65, Still in “Greed” Territory
According to data from Alternative.me, today’s Crypto Fear & Greed Index has fallen to 65 from yesterday’s 74, indicating that the market remains in a state of “greed.”
2.2 Data: $226 Million Liquidated Across the Market in 24 Hours — $127M Longs, $98.7M Shorts
According to Coinglass, approximately $226 million in positions were liquidated across the crypto market over the past 24 hours. Long positions accounted for $127 million, while short positions made up $98.74 million.
- Bitcoin: $18.03 million in long liquidations, $28.42 million in short liquidations
- Ethereum: $35.65 million in long liquidations, $38.16 million in short liquidations
3. Industry News
3.1 Bo Hines: U.S. Begins Building Strategic Bitcoin Reserve Infrastructure
According to crypto journalist Eleanor Terrett, Bo Hines, Executive Director of the U.S. Presidential Advisory Board on Digital Assets, has confirmed that the United States is actively working on building infrastructure for a strategic Bitcoin reserve. Hines noted that while the executive order issued by former President Trump in March did not mandate the Treasury to disclose current government-held Bitcoin, such information may still be made public. He added that the U.S. government is "strongly inclined" to increase its Bitcoin holdings through a budget-neutral approach.
3.2 U.S. Senate Banking Committee Chair: Crypto Market Structure Bill to Be Finalized by September 30
As reported by CoinDesk, U.S. Senate Banking Committee Chairman Tim Scott stated that the crypto market structure bill is expected to be finalized by September 30. This timeline is later than former President Trump’s suggested deadline of before the August recess but earlier than Senator Cynthia Lummis’s previous projection of year-end.
4. Market Highlights
4.1 Dinari Secures U.S. Broker-Dealer Registration, to Offer Tokenized Stocks
According to Reuters, blockchain-based U.S. equities startup Dinari has secured broker-dealer registration for its subsidiary, making it the first platform in the U.S. to receive such approval for offering tokenized stocks. This registration allows Dinari to legally offer stock trading services to U.S. investors via blockchain technology. The company stated that its broker-dealer entity is expected to launch operations next quarter. Dinari’s tokenized stocks, known as dShares, are already available on decentralized platforms such as Coinbase's Base network—but only to users outside the U.S.
4.2 Bloomberg ETF Analyst: Bitwise Files Amended S-1s for Spot Dogecoin and Aptos ETFs
Bloomberg senior ETF analyst Eric Balchunas reported that Bitwise has submitted amended S-1 filings for its spot Dogecoin ETF and spot Aptos ETF. Balchunas noted that this is “a positive signal” suggesting the company is aligned with U.S. Securities and Exchange Commission (SEC) expectations and that the approval process is progressing alongside other spot ETFs.
4.3 Ripple CLO Responds to Appeal Denial, Reaffirms XRP's Non-Security Status
Ripple Chief Legal Officer Stuart Alderoty responded to the court’s denial of a joint motion by Ripple and the SEC to pause the appeal process, stating: “The ball is back in our court. The judge has given us two choices: drop our appeal regarding institutional sales or proceed. Stay tuned. Either way, XRP’s legal status as not a security remains unchanged. Business as usual in the meantime.”
5. Project Updates
1）Bakkt has filed a $1 billion fundraising plan with the U.S. SEC, intending to use the proceeds to purchase Bitcoin and other cryptocurrencies.
2）CUDIS has released its Season 2 airdrop rules; the second season will begin at the end of July and last for 6 months.
3）Web3 wallet Zerion has integrated the Solana network.
4）Sol treasury firm Upexi plans to tokenize its stock via the on-chain issuance platform Opening Bell.
5）Synaptogenix will rebrand as TAO Synergies and establish a TAO Strategic Reserve.
6）Spark has airdropped 5 million SPK to the top 500 users of Cookie Snaps; the claim portal is now live.
7）Fuel Labs founding engineer Rodrigo Araújo has joined Plasma as Head of Protocol Engineering.
8）PayPal CEO: We’re creating real-world use cases for stablecoins.
9）LayerZero has completed its FAFO upgrade, achieving over 100 million TPS on a single EVM node while reducing costs.
10）Game studio Lineup Games has integrated the Sui blockchain.
6. Project Fundraising News
1）YZi Labs has announced an investment in decentralized entertainment platform MEET48.
2）China Renaissance is entering the Web3 space with plans to invest $100 million in related businesses and crypto assets.
3）Trusta.AI, an AI-powered trusted identity network, has completed a new funding round.
4）Jarsy, a private equity tokenization platform, has raised $5 million in a pre-seed round led by Breyer Capital.
5）Inference Labs, a Web3 + AI project, has secured $6.3 million in funding with participation from DACM and others.
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