Coinpedia Digest: This Week’s Crypto News Highlights | 14 June, 2025

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What a week! 

There were big headlines, some major decisions, and a few surprises that caught everyone off guard. 

Governments are making stronger decisions, both for and against crypto. Some are opening the doors wider, while others are starting to shut things down. At the same time, traditional finance companies are getting more involved.

All of this is shaping the direction the market could take next and there’s a lot to unpack.

If you’ve been feeling like it’s hard to keep up – you’re not alone. That’s why we’re here to help you catch up on everything important, all in one place.

Dive right in. 

#1 Stripe Acquires Privy in Big Push Back Into Crypto

Stripe is making its way back into crypto – this time with infrastructure. The payments giant just acquired Privy, a startup that helps developers add crypto wallets to their apps using a simple API.

Privy currently supports over 75 million wallets and works with platforms like Hyperliquid and Blackbird. The startup will keep operating independently under Stripe, just like Bridge, another crypto company Stripe acquired earlier this year.

After years on the sidelines, Stripe is clearly serious about crypto again and starting from the ground up.

#2 Milei Walks Free in $LIBRA Token Controversy

Argentina’s President Javier Milei has been cleared of any wrongdoing linked to his February post about Solana-based memecoin $LIBRA. The anti-corruption office said Milei acted “as an economist and not a public official,” using his personal X account.

His post sent $LIBRA soaring to a $4.5 billion market cap – before crashing 90% after he deleted it and distanced himself. Leaked messages later claimed the token’s co-creator had ties to Milei’s sister. 

No charges, but the situation raised major questions about politics, influence, and hype-fueled tokens.

#3 Big Win for U.S. Crypto Regulation: CLARITY Act Advances

The CLARITY Act, a bill aiming to set clear rules for digital assets, has officially advanced to the full House of Representatives after passing two major committees this week. It cleared the House Agriculture Committee with a 47–6 vote, and the Financial Services Committee with 32–19.

“This is a historic opportunity to unlock innovation,” said Rep. French Hill, the bill’s sponsor. Backed by both parties, the bill promises better consumer protection and legal clarity for crypto companies operating in the U.S.

#4 Singapore Gives Crypto Firms a Deadline to Leave

Singapore is making its crypto rules crystal clear and strict.

The Monetary Authority of Singapore (MAS) has issued a final directive giving unlicensed crypto firms until June 30, 2025 to stop offering offshore services. There’s no grace period and no flexibility.

Big names are already packing their bags. Bitget is relocating staff to Dubai and Hong Kong, and Bybit is reportedly weighing similar moves.

MAS says licenses going forward will only be granted under “extremely limited” conditions. It’s one of the strongest regulatory moves we’ve seen in Asia this year and a signal that the era of loose rules may be over. 

#5 SEC Pulls Plug on Gensler-Era Crypto Rules

The SEC has scrapped 14 proposed rules from the Gensler era – including two major crypto measures. Rule 3b-16, which could’ve classified DeFi protocols as securities exchanges, is now off the table. So is a strict custody rule that would’ve forced advisers to use only “qualified custodians,” excluding most crypto platforms. 

Coinbase’s Paul Grewal called it: “Down goes 3b-16.” The decision follows Trump’s wider push to roll back regulation. The SEC says these proposals are done and any future rules would need to start fresh.

#6 IBIT Becomes the Fastest ETF to Reach $70 Billion

BlackRock’s Bitcoin ETF just set a new record.

The iShares Bitcoin Trust (IBIT) reached $70 billion in assets on June 9, doing it in just 341 days. That’s five times faster than the gold ETF GLD, which took 1,691 days to get there.

It’s the biggest Bitcoin ETF on the market, far ahead of Fidelity’s $20B and Grayscale’s GBTC just under that. The demand is clear: investors want Bitcoin exposure, and IBIT is now the go-to option to get it.

#7 Connecticut Becomes First State to Ban Crypto in Government

A new law passed this week bans all state and local divisions from accepting crypto payments or holding digital assets. The bill also rules out any kind of Bitcoin reserve – a move aimed at protecting taxpayers from crypto volatility and lack of regulation. 

Supporters say it’s a smart move. “Connecticut is acting prudently to protect consumers and taxpayers,” said State Rep. Jason Doucette. But critics argue it’s political. 

“This is signaling that Connecticut is symbolically opposed to cryptocurrency,” said attorney Aaron Brogan.

#8 Cetus Is Back Online After $230M Exploit

Cetus Protocol is back up and running after a $230 million hack shut it down last month. The Sui-based DEX relaunched on June 8 following a major exploit that targeted its liquidity pools and drained assets like $SUI and $USDC.

Sui validators froze over $160 million shortly after the attack, and a community vote approved the return of all recovered funds. Now, most pools have between 85% and 99% of liquidity restored. It’s a fast comeback and one of DeFi’s biggest recovery efforts this year.

#9 Amazon and Walmart Could Launch Their Own Stablecoins

Amazon and Walmart are reportedly exploring the idea of launching their own US dollar-backed stablecoins, according to the Wall Street Journal. While neither company has confirmed the plans, it could mark a big shift in how payments work across retail. 

A stablecoin system could reduce reliance on banks, speed up transactions, and save the companies billions in fees. With Shopify already planning to integrate USDC by the end of the year, it’s clear that more big names are moving closer to using crypto in everyday payments.

#10 Congress Pushes SEC for Clarity on ETH Rules

Congressman William Timmons wants answers from the SEC about Ethereum’s classification. In a new letter, he called out the agency’s “zigzagging approach” and demanded internal documents, including emails from Chair Gary Gensler.

Timmons pointed to the approval of ETH ETFs and the quiet end of an SEC investigation as signs of mixed messaging. He says the lack of clarity has hurt investors and businesses. 

His goal? To bring transparency and push for clear rules on who regulates Ethereum – the SEC or the CFTC.

In the Spotlight 

Here’s a few quick hits you shouldn’t miss! 

Top Footballers Tied to €3M NFT Scam: Spanish authorities are investigating a failed NFT project promoted by football stars like Papu Gómez. The platform never launched, leaving investors with worthless tokens and millions in losses.

Ukraine Moves Toward Crypto Reserves: A new draft bill could let Ukraine’s central bank hold Bitcoin as part of national reserves. Lawmakers say it’s about macro stability, not hype, and aligning with global financial innovation

Ripple and SEC Push to Close XRP Case: Ripple and the SEC jointly asked Judge Torres to dissolve a final injunction and release $125M in escrowed funds, aiming to end the case and avoid drawn-out litigation.

EveryX Gears Up for Private Launch in Quezon City: Prediction platform EveryX will host a private launch on June 27, featuring DJs, alpha talks, and Web3 names like Steve “Icesteam” Jimenez and Hayate Matsuzaki.

South Korea Moves to Legalize Stablecoins: President Lee’s party has proposed new rules allowing local firms to issue stablecoins. With crypto trading booming nationwide, the bill could reshape South Korea’s digital asset landscape, if regulators get on board.

Czech Minister Replaced After Bitcoin Donation Scandal: Eva Decroix has replaced Pavel Blažek as Czech justice minister after backlash over a $45M Bitcoin donation from a convicted criminal. The scandal comes just months before national elections.

What’s Next for Crypto?

Major shifts to expect ahead 

• Singapore’s tone toward crypto is changing fast, and other Asian markets may follow with stricter rules of their own.
• In the U.S., all eyes are now on the House. With the CLARITY Act advancing and Congress pushing the SEC for answers on Ethereum’s status, we could be inching closer to long-awaited legal certainty.
• Keep an eye on stablecoins. Amazon and Walmart exploring in-house digital dollars could set off the next wave of adoption or bring new regulatory headaches if U.S. lawmakers jump in.
• People are watching the Fed’s upcoming decision. With interest rate cuts on the table, risk assets like crypto could see a boost. But gold is currently outperforming both Bitcoin and the S&P 500 – a reminder that investors are still being cautious. The FOMC meeting could be a major volatility trigger.
• Wallets holding 10,000–100,000 BTC have dumped over 37,000 coins since June 3. It’s a bearish signal from some of crypto’s biggest holders, even as ETF inflows stay strong. A shift back to accumulation would be a critical sign of market confidence.
• There’s also a strange calm that’s worrying some analysts. Profit-taking has suddenly dropped off, which can be a sign of market complacency. When no one’s nervous, it might be time to get a little nervous.

As always, crypto sits at the crossroads of regulation, adoption, and raw market sentiment. We’ll be watching it all. Catch you next week.