Category: CryptoX News

Aptos founder joins BlackRock, Goldman Sachs in shaping CFTC crypto’s rulebook

Avery Ching isn’t just shipping code anymore. The Aptos co-founder and CEO has been appointed to the CFTC’s digital asset panel, signaling a new era where those who build the infrastructure help shape its regulation. On June 30, Aptos Labs announced that its co-founder and CEO, Avery Ching, was appointed to the Commodity Futures Trading Commission’s Digital Asset Markets Subcommittee. • @wyostable has placed Aptos as the highest-scoring blockchain candidate for WYST—the first fiat-backed stablecoin issued by a U.S. State.• @BitwiseInvest recently filed an amendment to the Aptos ETF, moving…

Are Compute Tokens (ATH, RNDR, TAO) Undervalued vs CoreWeave (CRWV)?

Tech investors love to pay for potential. GameFi tokens, with sky-high valuations divorced from current user numbers or revenues, embody this optimism perfectly — as CoinDesk investigated in 2022, Decentraland’s then billion-dollar market cap didn’t quite match the number of active players on the platform. But, surprisingly, distributed compute tokens don’t seem to enjoy the same speculative premium even when compared to their Traditional Finance traded peers like CoreWeave (CRWV). CoinMarketCap says the category of tokens for decentralized networks that provide GPU power for AI and other compute workloads, which…

Senator Lummis Seeks to Waive US Taxes on Small-Scale Crypto Activity in Budget Bill

U.S. Senator Cynthia Lummis is seeking to slip a significant crypto tax measure into the massive budget bill that backs much of President Donald Trump’s agenda, trying to reduce tax consequences stemming from fundamental cryptocurrency activities. Lummis sought on Monday to insert language into Congress’ “Big Beautiful Bill” that would, among other things, waive taxes on small crypto transactions below $300 and would — in the industry’s view — rationalize a tax approach that currently has people hit for taxes on both the front end and back end of activity…

ETH Price Pattern Forecast Rally to $5,000

Key takeaways: Ether’s chart shows a “Power of 3” setup, with a price target above $5,000. Spot ETH ETFs recorded net inflows of 106,000 Ether last week, marking the 7th consecutive week of positive inflows. ETH still faces a potential 25% correction as increasing whale exchange inflows and short positions surge. Ether’s (ETH) price chart shows a textbook “Power of 3” setup following a trend deviation between $2,100 and $2,200 that took place last Sunday. This movement unfolded after a period of price consolidation between May 9 and June 20.…

Solana Jumps Ahead of First SOL ETF Hitting the Market This Week

Solana jumped about 5% Monday morning amid rumors that a SOL Staking exchange-trade fund (ETF) by Rex Shares and Osprey Funds could start trading on the market as soon as Wednesday. The token later fell back slightly, now trading up about 2.3% over the past 24 hours at $157 at press time. A spokesperson for Osprey confirmed to CryptoX that the “fund will launch Wednesday,” following a post on X by the automated headline account “Unfolded.” Just last week, Rex filed a letter with the Securities and Exchange Commission (SEC)…

Katana Mainnet Goes Live as Pre-Deposits Hit $180M

Self described ‘DeFi-first’ layer-2 blockchain Katana has launched its mainnet after receiving $180 million in pre-deposits. Deposits flooded in after Katana was revealed to the public less than a month ago. DefiLlama data shows that deposited jumped from $75M to $180M between June 1 Depositors will receive randomized reward NFTs called Krates, as well as a share of 70 million KAT tokens, Katana’s native token. Upon launch, yield farmers will be able earn more KAT by staking on platforms like Morpho and Sushi. The blockchain aims to solve one of…

Circle (CRCL) Valuation Is ‘Outside Our Comfort Zone,’ Initiate at Underweight: JPMorgan

Wall Street heavyweight JPMorgan (JPM) initiated coverage of stablecoin issuer Circle (CRCL) with an underweight rating and an underwhelming $80 price target. The shares were trading 4.5% higher at around $189 at publication time. Circle is well positioned, the bank said, and its USDC stablecoin has an “early-mover advantage,” with growing use cases in payments. “We think highly of the Circle management team and are confident in the outlook for outsized stablecoin and USDC growth,” analysts led by Kenneth Worthington wrote. Still, the analysts see the company’s market capitalization as…

$290B Financial Advisor Ric Edelman Boosts Crypto Allocation Recommendation

Prominent financial advisor Ric Edelman says investors should consider putting as much as 40% of their wealth into cryptocurrency, a bold recommendation that reflects how far digital assets have come in recent years. “Today I am saying 40%, that’s astonishing,” Edelman told CNBC’s Crypto World on Friday. “No one has ever said such a thing.” Edelman, founder of the Digital Assets Council of Financial Professionals, has been active in crypto for over a decade. He first urged investors to allocate part of their portfolios to bitcoin in 2018. In his…

Tokenized Stock Trading Launches on Kraken, ByBit and Solana

More than 60 tokenized stocks are now available on crypto exchanges Kraken and Bybit, as well as on Solana-based decentralized finance (DeFi) platforms. In a Monday announcement from Backed Finance, the company said its tokenized stocks product, xStocks, launched, with over 60 stocks becoming available on Bybit, Kraken and and several Solana DeFi protocols, offering users exposure to traditional stocks via blockchain infrastructure. The stock selection is focused on blue-chip giants and crypto firms, emerging and established alike. Supported stocks include Netflix, Meta, Robinhood, Coinbase, Amazon, Nvidia, McDonald’s, Apple, Tesla…