Statutory Instrument 99 of 2026, a document as weighty as a philosopher’s tome, binds crypto businesses to the RBZ unit tasked with taming the beasts of financial crime. Firms that trade in the ethereal realm of digital assets must now seek the imprimatur of the state, lest they be cast into the shadows of illegitimacy.
According to Geoffrey Kendrick, head of digital asset research at Standard Chartered, the recent price drop probably marks the lowest point in this market cycle. Bitcoin briefly fell to around $59,000 before recovering to nearly $63,500, and Ethereum was trading at approximately $1,665.
Now, here’s the rum bit: Bank of America’s client-flow data reveals a record single-stock sell-off-$14.2 billion in the week ended June 5-while equity ETFs still managed to pull in cash for the 11th straight week (+$0.3 billion). Investing.com, citing Bank of America, tells us this. It’s like the chaps at the bar are selling their champagne but still ordering the club’s house wine. A bit of a paradox, eh?
Over the last day, most of the bigger alternative cryptocurrencies (altcoins) have seen small increases in value – for example, ADA and HYPE are each up about 3%. However, Monero (XMR) experienced a significant price drop.
According to Kraken’s proclamation-delivered with all the flourish of a Victorian novel-USDCx is a Canton-native stablecoin, backed 1:1 by USDC nestled in Circle’s xReserve. When USDC is deposited into xReserve on Ethereum, an equivalent amount of USDCx emerges on Canton, like a phoenix from the ashes of financial complexity.
Enter Ali Martinez, a chap with more followers on X than a county fair has cotton‑candy stalls, who proceeded to point out where the bottom might be lurking. Spoiler alert: he sees more pain ahead for all three digital darlings.
The bank has shoved its timetable for the final two rate cuts of this easing cycle further into the future, now envisaging cuts in June 2027 and December 2027, instead of the earlier guess of December 2026 and March 2027. One might say they’ve traded a swift hare for a very leisurely tortoise.
Canaan, a Bitcoin mining company traded on the Nasdaq, announced that its mining operations in North America became 11% more efficient in May 2026. They achieved a new company record of 17.9 joules per terahash, meaning they’re using less energy to mine each Bitcoin.
Key Takeaways:
Mr. Garlinghouse, with a wit as sharp as his cravat, has taken it upon himself to rebuke Mr. Dimon for his persistent disdain of the crypto realm. “Pray, sir,” one imagines him declaring, “have you not misrepresented the very essence of this legislation? Your remarks, I fear, are either a deliberate attempt to sow discord or a lamentable display of ignorance.”