Cryptocurrency Market Sees Regulatory Shifts and Major Developments

Cryptocurrency Market Sees Regulatory Shifts and Major Developments

The cryptocurrency landscape is experiencing significant transformations, marked by regulatory changes, strategic corporate moves, and notable security incidents. Here’s an overview of the latest developments as of June 29, 2025.

World Liberty Financial’s Stablecoin Audit and New App Launch

World Liberty Financial (WLF), a cryptocurrency platform backed by President Donald Trump, has announced plans to release an audit of its stablecoin within days. Additionally, WLF is preparing to launch a new application aimed at simplifying crypto usage for everyday investors. Co-founder Zak Folkman revealed these initiatives at the Permissionless conference in Brooklyn, New York. The governance token, WLFI, introduced two months prior to the 2024 presidential election, has generated substantial revenue for Trump’s family business. However, these developments have attracted criticism from Democratic lawmakers and ethics watchdogs, citing potential conflicts of interest, especially as the administration scales back crypto industry regulations. The upcoming audit, conducted by an accounting firm, will be published on the company’s website, signaling a move toward increased financial transparency. Trump-backed crypto firm is planning stablecoin audit, new app

Regulatory Crackdown on Bitcoin ATMs Amid Rising Scams

States across the U.S. are intensifying regulations on cryptocurrency ATMs to combat a surge in scams, particularly those targeting older Americans. These machines, which allow users to convert cash into crypto, have become tools frequently exploited by fraudsters due to their accessibility and irreversible payment nature. The Federal Trade Commission reported a nearly tenfold increase in fraud losses involving crypto kiosks from 2020 to 2023. In response, states like Illinois and Vermont have passed legislation setting daily usage limits, and cities such as Spokane, Washington, have banned the kiosks outright. AARP supports these initiatives and has endorsed 12 similar bills across the country. Despite these measures, crypto ATM operators like Bitcoin Depot continue to see strong profits, with a 20% margin on $33 million in earnings in Q1. This legislative clampdown reflects a growing bipartisan consensus to address crypto-related fraud. States crack down on bitcoin ATMs as scams surge

Anthony Pompliano’s $1 Billion Bitcoin Treasury Company

U.S. investor and entrepreneur Anthony Pompliano has announced the formation of a new bitcoin treasury company named ProCap Financial, following a $1 billion merger between his firm ProCap BTC and special purpose acquisition company Columbus Circle Capital I. The new company aims to build a substantial bitcoin reserve and will manage up to $1 billion in bitcoin holdings. Unlike traditional treasury strategies, ProCap Financial plans to generate revenue using its bitcoin holdings through lending, derivatives, and other financial services. Pompliano revealed the company has raised $750 million—$500 million in equity and $250 million via a convertible note—marking the largest initial fundraising for a bitcoin treasury firm. ProCap Financial draws inspiration from MicroStrategy’s successful bitcoin investment model. Notable institutional and crypto investors such as Susquehanna, Jane Street, Magnetar, Pantera, and Coinfund are reported to have committed capital, though Reuters could not confirm these contributions. The announcement comes amid a broader shift in U.S. cryptocurrency policy, with President Trump advocating for a strategic bitcoin reserve. US investor strikes $1 billion merger to create bitcoin treasury company

Hackers Target Iran’s Largest Cryptocurrency Exchange

Hackers reportedly linked to Israel infiltrated Iran’s largest cryptocurrency exchange, Nobitex, stealing over $90 million across various cryptocurrencies including Bitcoin, Ethereum, and Dogecoin. The group “Gonjeshke Darande” or “Predatory Sparrow” claimed responsibility for the breach, posting Nobitex’s source code online and stating that remaining assets were fully exposed. Blockchain analysis firms noted that the attack appeared politically, rather than financially, motivated, as the stolen funds were sent to wallets with messages condemning Iran’s Revolutionary Guard and effectively destroyed. The group accused Nobitex of aiding Iran’s government in bypassing Western sanctions and financing militant groups. The attack follows escalating Israel-Iran tensions after Israeli strikes on Iranian nuclear sites and retaliatory missile launches by Tehran. Nobitex confirmed unauthorized system access, taking its app and website offline. Reports suggest links between the exchange and Iran’s leadership as well as with sanctioned groups such as the Houthis and Hamas. Gonjeshke Darande has previously conducted high-profile cyberattacks on Iranian infrastructure. Despite Israeli media reports, Israel has not confirmed ties to the group. U.S. lawmakers have previously voiced concerns about Iran’s use of cryptocurrencies to skirt sanctions. Hackers say they wiped out $90 million from Iran cryptocurrency exchange

Ripple to Drop Appeal in SEC Case Over XRP Sales

Ripple has announced plans to drop its appeal in the long-running SEC case over XRP sales, aiming to end the legal battle “once and for all.” This decision marks a significant development in the cryptocurrency industry’s ongoing interactions with regulatory bodies. Ripple to Drop Appeal in SEC Case Over XRP Sales, Ending Case ‘Once and for All’

Conclusion

The cryptocurrency sector continues to evolve rapidly, influenced by regulatory actions, corporate strategies, and geopolitical events. Stakeholders should remain vigilant and informed to navigate this dynamic landscape effectively.