Author: James Wilson

New York’s financial regulator has formed a stablecoin supervision agreement with the European Banking Authority as regulators on both sides of the Atlantic tighten cooperation over digital assets. Summary NYDFS and the European Banking Authority signed an agreement to share information on stablecoin supervision. The agreement covers market risks, consumer protection, and oversight of firms involved in stablecoin activity. DFS said its stablecoin framework includes reserve rules, redemption standards, transparency, and limits on rehypothecation. The New York State Department of Financial Services said Tuesday that it signed a memorandum of understanding with the EBA to support the exchange of supervisory…

Crypto-backed political groups have expanded their election spending as several US primaries test the industry’s influence in Congress. Summary Crypto-backed PACs have increased spending in US congressional primaries as digital asset policy becomes a key election issue. FEC filings show Protect Progress spent millions supporting Democratic candidates in California, New Jersey, Maryland, and New York. Fairshake-linked groups are targeting lawmakers based on their crypto policy positions as Congress reviews major digital asset bills. According to filings with the US Federal Election Commission, Fairshake-linked groups backed by Coinbase, Ripple, and other crypto supporters have directed millions of dollars into House and…

Galaxy Digital has launched an institutional over-the-counter prediction-markets desk, opening the service with a $10 million event swap tied to the Digital Asset Market Clarity Act. Summary Galaxy launched an institutional OTC prediction-markets desk with a $10 million event swap with Arca. The first trade allows Arca to take a position on whether the CLARITY Act will pass before 2027. Galaxy said the desk will support large trades on Kalshi and Polymarket that public order books cannot absorb. Galaxy said Tuesday that the desk operates within its Global Markets unit and serves institutional clients seeking exposure to non-sports event contracts…

Brazil’s central bank has added mandatory independent audits to the licensing approval process for crypto service providers in the country. Summary Brazil’s central bank will require crypto service providers to submit independent audit reports when applying for or renewing licenses. The audits will review anti-money laundering controls, customer asset segregation, risk management systems, and employee compliance programs. The new rule could raise compliance costs for smaller crypto firms, while major exchanges may continue pursuing access to Brazil’s large market. According to the published rules cited in the report, crypto firms applying for authorization, or renewing an existing license, must submit…

Coinbase has invested in ProShares’ GENIUS Money Market ETF as stablecoin issuers prepare for stricter reserve rules under the GENIUS Act. Summary Coinbase has invested in ProShares’ IQMM ETF to support stablecoin reserve management. IQMM is designed to meet reserve requirements under the GENIUS Act. The fund mainly holds short-term U.S. Treasuries, cash, and cash equivalents. Coinbase said stablecoin growth needs stronger tools for reserve and liquidity management. BlockBeats reported on June 2 that Coinbase will invest in the ProShares fund, known by the ticker IQMM. The report said the product is designed as a money market ETF that can…

Strive Inc. has raised its Bitcoin holdings to 19,000 BTC after buying an additional 2,500 BTC between May 23 and June 1, 2026. Summary Strive purchased 2,500 bitcoin between May 23 and June 1, raising its total holdings to 19,000 BTC. The company bought the bitcoin at an average price of about $74,092 per coin, including fees and expenses. Strive’s cash and cash equivalents increased to $137.3 million from $93.3 million during the same period. A June 2 filing with the U.S. Securities and Exchange Commission said the Nasdaq-listed company bought the bitcoin at an average price of about $74,092…

Georgia plans to install electricity meters across Mestia after officials blamed illegal crypto mining for heavy power use, grid pressure and repeated outages. Summary Georgia will install Mestia meters after illegal mining pushed 2025 power use to 133M kWh. Officials estimate unlawful electricity use cost Georgia’s energy system 20–25M lari, or $7–9M annually nationwide. Residents keep free power within limits, while law enforcement targets large-scale illegal mining operations there. Vice Prime Minister Mamuka Mdinaradze said illegal crypto mining has become one of the main energy problems in Mestia. He said the activity is putting pressure on the local electricity supply…

Spot Solana ETFs crossed $1.06 billion in total assets under management as of mid-May 2026. Goldman Sachs is a confirmed holder.  Summary Solana ETFs crossed $1.06B in AUM, but SOL remains 77% below its January 2025 all-time high. ETF inflows are being absorbed by venture unlock supply, limiting the price impact of institutional buying. BSOL’s staking structure gives institutions yield while they wait for Solana’s major catalysts to mature. Western Union’s USDPT launch may be Solana’s biggest institutional signal if payment volume scales. Fidelity runs its own validator. Morgan Stanley’s Solana Trust filing adds a third institutional channel. Forward Industries…

MoneyGram has launched its own U.S. dollar stablecoin, MGUSD, on the Stellar blockchain, placing it at the center of a payments network that serves more than 60 million active customers. Summary MoneyGram has launched MGUSD, a U.S. dollar stablecoin on Stellar, with an initial rollout in the U.S. The company said MGUSD will serve a payments network that reaches more than 60 million active customers worldwide. The launch follows a series of stablecoin initiatives by MoneyGram, including USDC remittances, stablecoin settlements, and crypto cash withdrawal services. According to a Tuesday announcement, MGUSD is being issued by Bridge, a Stripe-owned company…

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Cloud mining gains popularity in 2026 as platforms like AJC Mining lower barriers to Bitcoin mining participation. As the cryptocurrency industry continues to develop, traditional crypto mining is no longer suitable for most ordinary users. In the past, anyone who wanted to participate in Bitcoin mining usually needed to purchase expensive ASIC mining machines, pay high electricity costs, manage cooling systems, handle noise issues, and understand technical mining configurations. For beginners, these barriers can be difficult to overcome. That…