Stay in the loop with our weekly crypto digest as we get you up to speed on the hottest trends and events in the crypto space.
Here’s what happened in crypto this week:
JPMorgan Plans To Offer Clients Financing Against Crypto ETFs
JPMorgan will soon begin accepting crypto ETFs as collateral for loans across its trading and wealth-management divisions. According to a recent report by Bloomberg, the program will initially feature BlackRock’s iShares Bitcoin Trust and later expand to include more crypto ETFs.
The initiative follows internal discussions and regulatory adjustments that now enable broader adoption of crypto-backed financing. It replaces the earlier case-by-case structure, making the offering accessible to a wider range of qualified clients. Consequently, both retail and high-net-worth investors will now benefit from a unified framework.
By incorporating these assets, JPMorgan aims to align with increasing client interest in cryptocurrency exposure through secure financial channels.
Coinbase Launches cbDOGE And cbXRP On The Base Network
According to the announcement by Coinbase Assets, Coinbase has launched cbDOGE and cbXRP on the Base chain, which are ERC-20 tokens supported by #DOGE and XRP in 1:1 custody, respectively.
However, these assets are not live yet, and Coinbase stated that a launch timeline will be revealed later.
Notably, wrapped tokens allow assets from one #blockchain to be used on another, improving ecosystem interoperability.
MoonPay Secures New York BitLicense
MoonPay has secured a BitLicense and money transmitter license from the New York State Department of Financial Services (NYDFS). The company can now operate in all US states, which strengthens its national regulation.
MoonPay joins 34 other firms that acquired BitLicense from the NYDFS since 2015. The other firms include Coinbase, Circle, Robinhood, and Ripple. Industry observers consider the BitLicense as one of the most rigorous US crypto compliance standards.
MoonPay’s license comes amid broader clarity in crypto regulations under the current pro-crypto federal administration. New rules from Washington have made US licenses more attractive to digital asset service providers. The BitLicense, often seen as a top standard, enhances MoonPay’s position with institutional partners and regulators.
Circle Is Now A Public Company
Circle Internet Financial, the company behind the USDC stablecoin, is now a public company as of June 5th, 2025.
It filed for an initial public offering (IPO) with the US Securities and Exchange Commission (SEC) and began trading on the New York Stock Exchange (NYSE) under the ticker symbol “CRCL” with an IPO price set at $31.00 per share, targeting a valuation of up to $7.2 billion.
Circle is the second-largest stablecoin issuer, with its USDC having an issuance of $61.5 billion, compared to market leader Tether, which has an issuance of $153.7 billion. Currently, these two companies are the dominant players, but they hold very different market positions. Circle wants USDC to be onshore and regulated, whereas Tether is currently offshore and has withdrawn from the EU.
Gemini Confidentially Files For US IPO
Cryptocurrency exchange Gemini has taken a significant step toward going public after submitting a document to kick-start the initial public offering (IPO) process.
According to a recent statement, the company has confidentially submitted a draft registration statement on Form S-1 to the US Securities and Exchange Commission (SEC).
While details such as the number of shares and price range remain undisclosed, Gemini stated that the IPO will proceed once the SEC completes its review and market conditions align.
This move positions Gemini among the growing number of crypto companies seeking public listings, reflecting increased institutional interest in digital assets and blockchain-based finance.
UK Regulator FCA To Lift Ban On Crypto ETNs For Retail Investors
The UK Financial Conduct Authority (FCA) will now allow consumers to access #crypto exchange-traded notes (cETNs), expanding digital asset offerings in Britain.
cETNs can now be sold to individual consumers on FCA-approved investment exchanges, while the ban on retail access to cryptocurrency derivatives remains in place.
The FCA emphasizes consumer risk awareness through existing financial promotion rules, ensuring informed investment decisions.
This move aligns with the UK’s goal to enhance its position in the crypto sector, signaling openness to digital assets for retail investors.
US SEC Signals Altcoin ETFs May Be Approved Very Soon
Executives from asset management firms Vaneck, Canary Capital, and 21Shares issued a joint letter to US Securities and Exchange Commission (SEC) Chairman Paul Atkins, calling on the agency to reinstate its “first-to-file” approval framework for exchange-traded products (ETPs).
The signatories argued that the Commission’s recent practice of granting simultaneous approvals—regardless of filing order—undermines fairness, diminishes innovation, and weakens the competitive positioning of smaller issuers, particularly in the fast-growing crypto segment.
The SEC’s decision to approve 11 spot Bitcoin ETFs simultaneously in January 2024 has intensified criticism that the process favors industry giants. While the SEC maintains that approvals are driven solely by regulatory criteria, the outcome has fueled renewed scrutiny over whether the current framework protects competition or entrenches existing market power, especially in a sector where first-mover advantage can be decisive.
President Javier Milei Cleared In $LIBRA Ethics Probe
President Javier Milei has been cleared of ethics violations related to his support for the cryptocurrency Libra ($LIBRA).
Argentina’s Anti-Corruption Office (OA) released the decision after reviewing Milei’s actions,
claiming that Milei’s post was meant just for Grzála, not as an official statement from the government.
The analysis concluded that Milei had not violated any ethical rules. Consequently, the findings proved the President had not done anything wrong.
BiT Global, backed by Justin Sun, has dropped its lawsuit against Coinbase over the delisting of wrapped Bitcoin (wBTC) just two months after Coinbase launched its competing token, cbBTC.
The lawsuit was dismissed with prejudice, meaning it cannot be refiled, and both parties will cover their own legal fees.
Coinbase’s legal team stated that the decision affirms their right to manage risk for their users, while the lawsuit had claimed anti-competitive behavior by Coinbase.
US CPI Inflation Rises To 2.4%, Lower Than Expectations
Data: 2.4% YoY, 0.1% MoM
Forecasted: 2.5% YoY, 0.2% MoM
Last Month: 2.3% YoY, 0.2% MoM
The upcoming release of the May Consumer Price Index (CPI) is anticipated to show a slight acceleration in price increases compared to April. Headline inflation is expected to rise to 2.4% in May from 2.3% in April, marking a subtle but notable increase. Month-over-month, prices are projected to climb by 0.2%, mirroring the previous month’s growth.
On a core basis, excluding the volatile food and energy sectors, CPI is expected to have climbed 2.9% year-over-year in May, slightly up from April’s 2.8%. This monthly core price increase is expected to reach 0.3%, surpassing the 0.2% rise in April. These figures reflect the economic landscape following President Trump’s “Liberation Day” tariff announcements, which have left a lingering impact on market dynamics.
Final Thoughts
So that’s it for this week!
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Have a fantastic week ahead!
