Crypto Market Update: JPMorgan, Shopify Make Major Moves as Iran Exchange Suffers Hack
Crypto Market Update: JPMorgan, Shopify Make Major Moves as Iran Exchange Suffers Hack
🏦 JPMorgan's Secret Crypto Move
Key Developments:
JPMorgan Chase launches JPMD token on Coinbase's Base blockchain, marking significant institutional adoption
Iranian exchange Nobitex loses over $90M in crypto assets to hackers
Shopify partners with Coinbase and Stripe to enable USDC payments, full rollout expected by end of 2025
Crypto market reaches $3.26T, with notable gains in Solana and Avalanche
Market Context: Base blockchain continues strong growth with TVL near $4T. Bitcoin recently touched $109K amid US-China trade developments. DeFi sector shows resilience with TVL exceeding $110B.
Follow for continued coverage of institutional adoption and market movements.
Today’s Top Crypto News Roundup: 👇 🔵 Ukrainian lawmakers introduced bill №13356 on June 10, 2025, allowing the National Bank to include crypto in state reserves, a potential global precedent. 🔵 The SEC requested updated S-1 filings for Solana ETFs, with potential approvals
Check Out the Latest Crypto News 🦥 🔵 Bitcoin Hits $109,347: Driven by US-China trade talks, boosting crypto market sentiment. 🔵 Société Générale-Forge Launches USDCV: New stablecoin on Ethereum and Solana, bridging traditional finance and DeFi. 🔵 Tether to Open-Source
Here are the latest crypto updates: 🔵 Vietnam’s new Digital Technology Industry Law, passed June 14, brings digital assets under regulatory oversight. 🔵 Bitcoin ETFs record five days of inflows, with BlackRock’s IBIT hitting $70 billion in assets in just 341 days. 🔵 Market
Base TVL hits ~$3,922B 💫 🔵 Ethereum's L2 powerhouse keeps growing, with 130 TPS in and booming DeFi/stablecoin adoption.
Latest Crypto News: Top Developments as of June 20, 2025 ✨ 🔵 JPMorgan Chase launches JPMD, a stablecoin-like token on Coinbase’s Base blockchain, boosting institutional crypto adoption. 🔵 Iran’s largest crypto exchange, Nobitex, loses $90M+ in Ethereum, Dogecoin, and more to
Senate Passes GENIUS Act: Trump Reduces Stake in USD1 Issuer
The U.S. Senate approved the GENIUS Act, establishing new stablecoin regulations aimed at increasing cryptocurrency adoption. Key developments: - Former President Trump decreased his ownership in World Liberty Financial (USD1 issuer) from 60% to 40% - Critics highlight potential conflicts of interest and inadequate consumer protection measures - Legislation now moves to House of Representatives for final approval The bill represents a significant step toward comprehensive crypto regulation in the U.S., though concerns remain about its implementation and effectiveness.
JD.com Announces HKD-Pegged Stablecoin Amid Global Tokenization Wave
Chinese e-commerce giant JD.com plans to launch a stablecoin in Q4 2025, joining a growing trend of major financial institutions entering the digital currency space. Key developments: - JD's stablecoin will be pegged to HKD and other currencies - Initial B2B focus with planned expansion to retail in Hong Kong and Macau - Public blockchain implementation for transparency - HKMA-supervised testing since July 2024 This follows significant moves by traditional finance: - Major US banks discussing consortium stablecoin - HSBC launches tokenized deposits in Hong Kong - BNP Paribas introduces tokenized money market fund - Hong Kong passes comprehensive stablecoin regulation [Read HKMA press release](https://www.hkma.gov.hk/eng/news-and-media/press-releases/2025/05/20250521-3/)
DEXs Capture 25% of Global Spot Trading Volume in Record-Breaking May
Decentralized exchanges (DEXs) reached a significant milestone, securing 25% of global spot trading volume in May 2025. Key highlights: - PancakeSwap led the surge with $171.6B volume on BNB Chain - Growth driven by competitive fee structure - Non-custodial trading features attract users This marks a notable shift from 2023, when Binance dominated with 52.6% of centralized exchange volume ($3.8T). The trend suggests increasing adoption of decentralized trading platforms.
Tether Freezes $12.3M USDT in Anti-Money Laundering Action
Tether has frozen $12.3M USDT on the Tron network, targeting wallets suspected of money laundering activities. The action was executed in collaboration with T3 FCU as part of ongoing Anti-Money Laundering efforts. This follows a larger freeze of $225M in November 2023, which was connected to a DOJ investigation into human trafficking in Southeast Asia. The recent freeze has reignited discussions about: - Centralization in stablecoin systems - Balance between security and decentralization - Role of stablecoin issuers in law enforcement *This marks Tether's continued commitment to regulatory compliance while raising questions about stablecoin autonomy.*