Crypto Weekly Market Wrap June 29 – Regulatory Shifts, ETF Outflows, Exploits, and Treasury Moves

Last week was challenging for the crypto sector as new regulations, enforcement warnings, exchange setbacks, and treasury updates captured the headlines. Bitcoin’s retreat forced ETFs and balance sheets to absorb the shock, whereas stablecoin, MiCA, CBDC, and AI trading developments maintained oversight on the agenda. In this article, we will discuss major events that made headlines last week.

Bank Of England Eases Stablecoin Issuer Rules

The Bank of England changed its sterling stablecoin framework on June 22. It removed the proposed individual and business holding caps. Instead, each systemic sterling stablecoin now faces a £40 billion issuance limit, replacing ownership caps.

The framework covers stablecoins that could affect financial stability. Officials made the shift after consultations with issuers, payment firms, legal advisers, and digital asset companies. Issuers must still keep 30% of reserves in Bank of England deposits for fast redemptions.

Strategy Adds Bitcoin Through ATM Share Sales

Strategy bought 520 BTC between June 15 and June 21. The company paid about $34.9 million, including fees and expenses. Its latest average purchase price reached $67,068 per Bitcoin during the reporting period. After the purchase, Strategy held 847,363 BTC. Its total Bitcoin cost basis reached about $64.10 billion. The company funded the purchase through ATM share sales, which generated $335.5 million in net proceeds from common stock.

BitMine Ethereum Holdings Near Five Percent Target

BitMine said its Ethereum reserve reached 5,672,956 ETH by June 22. The holdings pushed its combined crypto, cash, and investment assets to $10.7 billion. The company now owns 4.7% of Ethereum’s supply, according to its update.

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BitMine provided its latest holdings update for June 22, 2026

$10.7 billion in total crypto + "moonshots":
– 5,672,956 ETH at $1,733per ETH per ETH (per @coinbase)
– 205 Bitcoin (BTC)
– $200 million stake in Beast Industries @MrBeast
– $104 million stake in Eightco Holdings…

— Bitmine (NYSE-BMNR) $ETH (@BitMNR) June 22, 2026

BitMine also staked 4,718,677 ETH through its MAVAN validator network. That equals more than 83% of its total ETH holdings. Chairman Tom Lee said projected annual staking revenue now stands near $223 million at current yield levels.

Trump Orders Federal Quantum Security Migration

On June 22, President Donald Trump signed an executive order on quantum security. The order told federal agencies to prepare important systems for future quantum computing threats. It also required agencies to appoint PQC migration leads within 30 days and follow federal guidance.

The order set deadlines for high-value systems and high-impact systems. Agencies must move key establishment systems by December 31, 2030. They must also move to digital signatures by December 31, 2031.

Senate Housing Bill Includes CBDC Restriction

The U.S. Senate passed a broad housing package by an 85-5 vote on Monday. The measure also includes a digital dollar restriction. It blocks the Federal Reserve from issuing or creating a CBDC until December 31, 2030, under the measure. The restriction covers digital assets that closely resemble a CBDC. However, it excludes some open, permissionless, private dollar-denominated assets. The House must approve the Senate amendment before the bill reaches Trump.

Brazil Warns Campaigns Against Crypto Donations

On June 22, Brazil’s Federal Public Ministry reminded candidates that crypto donations remain banned. The warning came as parties prepared a fundraising activity for the 2026 election cycle. Campaign finance rules require donor and recipient identification in every approved contribution.

JUST IN: 🇧🇷 Brazil reaffirms ban on political parties and candidates from accepting crypto donations. pic.twitter.com/ixmMZv0Vda

— 🚨BSC Gems Alert🚨 (@BSCGemsAlert) June 23, 2026

The ministry said wallet addresses do not always reveal verified identities. Therefore, crypto donations fail Brazil’s campaign finance standards. Parties and candidates could face fines, investigations, and fund return orders to the National Treasury.

Law Enforcement Groups Challenge Clarity Act

U.S. law enforcement groups warned that Section 604 could weaken crypto investigations. They sent a joint letter to the Department of Justice and White House on Tuesday. The groups focused on broad exemptions in the bill. They said the language could shield actors who help move digital assets. The debate centers on the Blockchain Regulatory Certainty Act safe harbor. Critics argue the carveout could create oversight gaps.

CryptoQuant Urges Saylor to Pause Bitcoin Buys

On June 23, CryptoQuant urged Michael Saylor to stop buying Bitcoin and rebuild Strategy’s cash reserves. The warning focused on rising dividend obligations and weaker coverage. CryptoQuant linked the stress to Strategy’s STRC preferred stock. The firm said annual dividend obligations rose to about $1.2 billion. It is estimated that Strategy needs roughly $2.8 billion to restore 24 months of coverage. It warned that forced Bitcoin sales could damage shareholders and pressure BTC.

THORChain Restarts After Major Exploit Recovery

THORChain resumed operations after more than a month offline on June 23. The protocol restored trading, swaps, signing, and liquidity provider actions. The restart followed a $10.7 million exploit and several security checks across the vault infrastructure. The protocol tracked the vulnerability back to a GG20 threshold signature error. It stated that a malicious node operator reconstructed a private key by progressive leakage. Developers carried out emergency repairs and network upgrades before the services were reopened and new integrations were planned.

Ethereum Foundation Completes Staff and Budget Restructuring

On June 23, the Ethereum Foundation completed a months-long restructuring. The new structure creates clusters for protocol, access, user, community, and institutional work. It also includes operations, management, and administrative support teams.

Today, the EF is changing shape, concluding a months-long process of reorganization as part of the implementation of the Mandate and the Treasury Management Policy.

We come out of this process with the structure, activities, and people necessary for execution on the critical…

— Ethereum Foundation (@ethereumfndn) June 23, 2026

The foundation said 54 staff members will depart. That represents about 20% of its workforce. Vitalik Buterin also said the foundation’s budget will drop by about 40% this year.

SecondFi Reports Cardano Wallet Security Breach

On June 23, SecondFi identified a Cardano wallet incident in its native web wallet generation software. The project was placed in maintenance mode, and services were suspended. It also froze the balances and took snapshots of the user accounts for recovery. SecondFi’s initial scan uncovered approximately 178 affected wallets. The project estimated that $16 million in ADA was stolen by the attackers. Later, security researchers noted the losses might exceed the initial estimate after studying the on-chain flows and suspect addresses.

South Korea Targets Unregistered Crypto Platforms

On Wednesday, South Korea reported around 40 unregistered crypto platforms to investigators. Authorities said many operators promoted services through YouTube, Telegram, open chats, referrals, and overseas websites. The FSC urged users to check the FIU registration before using any platform. The regulator said only 28 virtual asset providers currently hold FIU registration. Foreign platforms may still break local rules when they serve Korean users without approval. Violators can face prison terms or fines under local financial law.

Indonesia Tightens Rules for Financial Influencers

Indonesia’s OJK introduced new rules for financial influencers on June 24. The regulation covers crypto, fintech, investments, online loans, and other products. It also applies to affiliates, reviewers, analysts, educators, and content creators outside financial companies. Influencers must disclose paid promotions and avoid guaranteed profit claims. They must also explain risks around high-risk products such as crypto. OJK can warn violators, remove misleading content, and block illegal promotions more quickly.

Binance Restricts EU Services Before MiCA Deadline

On June 24, Binance told EU customers it would restrict some services. The exchange said it would not have a MiCA license by the July 1 deadline. It also halted new registrations in the bloc.

🚨 Binance is preparing to suspend services for EU users as MiCA rules take effect on July 1.

CZ says Europe is "cutting users off from the best liquidity in the world" after Binance failed to secure a MiCA licence.

The battle between regulation & liquidity is officially… pic.twitter.com/JgVXKFgeFW

— Wise Advice (@wiseadvicesumit) June 26, 2026

The company said customer assets remain safe and accessible. Binance had withdrawn its Greek MiCA application earlier. However, the exchange said it still aims to secure authorization in another European country.

Lawmakers Question SEC Over AI Trading

U.S. House Democrats requested SEC information on AI trading regulation. The letter was led by Representatives Bill Foster and Brad Sherman and sent to the SEC chairman, Paul Atkins, on June 24. Retail investor protection and broker-dealer responsibilities were the lawmakers’ key concerns.

They have noted that AI trading agents pose questions regarding broker duties, market integrity, and developer responsibility. The letter also indicated that without clear guidance, AI could progress to crypto, options, futures, and event contracts.

Strategy Faces Potential Shareholder Claims Review

Rosen Law Firm announced an investigation into Strategy. On June 24, the firm said it was reviewing potential securities claims on behalf of shareholders. Rosen said affected investors may seek compensation without upfront fees.

The investigation centers on allegations that Strategy may have issued materially misleading business information. Rosen said it was preparing a class action to recover investor losses. The review adds legal pressure around Strategy’s treasury model.

Ripple Gains Luxembourg MiCA Approval Step

On June 24, Ripple received preliminary approval for a CASP license in Luxembourg. The approval came from the CSSF under the European Union’s MiCA framework. Ripple described the approval as a Green Light Letter, meaning initial clearance. The company must complete the final requirements before the license becomes active. After completion, Ripple can serve institutions and businesses across the European Economic Area. The company said it now holds more than 75 regulatory licenses worldwide across crypto and payments.

Bithumb Fined for Overseas Data Sharing

South Korea fined Bithumb 210 million won over user data transfers. On June 25, authorities said the exchange shared personal information with overseas platforms without full consent. The issue involved order books and transfer data.

BREAKING: SOUTH KOREA HITS BITHUMB WITH $136,000 FINE!

SOUTH KOREA'S PRIVACY WATCHDOG JUST FINED CRYPTO EXCHANGE BITHUMB 210 MILLION WON FOR EXPOSING USER PERSONAL DATA DURING OVERSEAS ORDER BOOK SHARING.

NO PROPER CONSENT. MAJOR DATA TRANSFER VIOLATION. pic.twitter.com/RPnkkrxJrZ

— Crypto News Hunters 🎯 (@CryptoNewsHntrs) June 25, 2026

The PIPC said Bithumb shared names, wallet addresses, and birth dates. It ordered the exchange to fix overseas transfer procedures. The watchdog also issued blockchain data protection guidance.

CoinEx Denies Iran-Linked Sanctions Claims

On June 25, CoinEx rejected claims that it served sanctioned Iranian crypto businesses. The response followed a report citing $3.84 billion in Iran-linked transactions since 2019. TRM Labs traced flows between CoinEx and Iranian crypto services. The exchange denied commercial relationships with Iranian state bodies, exchanges, or sanctioned parties. It also questioned the transaction total. CoinEx said it strengthened geofencing, screening, monitoring, and account offboarding after recent sanctions on Iranian entities.

UK Advisors Report Client Crypto Oversight Gap

CoinShares reported a crypto oversight gap among wealth advisors. On June 25, the firm said more than half of UK advisors said most client crypto sits outside their management. Across Europe, one in four advisors reported a gap above 50%. The survey covered professionals in France, Germany, Italy, Switzerland, and the UK. CoinShares said firm policy drives the gap. Advisors in restricted firms recommend crypto far less than peers in supported firms.

CLARITY Act Outlook Falls to 50-50

Galaxy Digital lowered its odds for CLARITY Act passage this year. On June 26, the firm cut the estimate to 50-50 from 60% earlier in June. Galaxy’s Alex Thorn cited timing, not bill content, as the main obstacle. The bill still needs combined Senate text, floor debate, amendments, and another House step. Thorn said Senate floor time has become hard to secure. Ethics language and developer protections also remain unresolved before any final vote.

Tom Lee Links Crypto Growth to AI

Tom Lee said crypto could regain attention through AI and tokenization on Friday. He argued that younger users already manage money through apps. That behavior could help tokenized stocks move closer to mainstream use through app-based platforms.

TOM LEE: CRYPTO IS THE DOWNSTREAM STORY OF AI AND IT'S HAPPENING NOW

BlackRock is tokenizing almost every asset. Here's what's coming:

-Young people will be trading tokenized stocks on crypto rails within 12 months
-Oil already trades on weekends via crypto rails. Almost every… pic.twitter.com/BBksetYSbo

— Tom Lee Tracker (Not actually Tom) (@TomLeeTracker) June 26, 2026

Lee said crypto rails offer final settlement and around-the-clock trading. He also pointed to BlackRock’s tokenization work. According to Lee, tokenization turns financial assets into software and supports faster digital finance on blockchain rails.

BlackRock IBIT Holders Face Steep Losses

BlackRock’s iShares Bitcoin Trust faced pressure after Bitcoin’s decline. On June 27, Nate Geraci said the average IBIT holder sat near a 40% loss. That marked a reversal from mid-last year’s gains near 30% for average holders. U.S. spot Bitcoin ETFs recorded $1.79 billion in weekly outflows, with IBIT accounting for about $860 million of that amount. Over five weeks, IBIT recorded more than $2.7 billion in net outflows.

Hyperliquid Responds to Singapore Alert Listing

Hyperliquid responded after appearing on Singapore’s Investor Alert List. The platform said on June 26 that it has never claimed to hold MAS authorization. It also said the listing does not represent a ban or enforcement action. The platform described itself as permissionless infrastructure. It said users retain self-custody, while transactions remain transparent and settled on-chain. Hyperliquid also said it supports constructive engagement with regulators.

Sharplink Adds Ethereum After Long Pause

Sharplink reportedly bought 5,000 ETH worth $7.85 million. On-chain data cited by EmberCN on June 26 showed the purchase came from FalconX. The transaction marked the company’s first ether acquisition in eight months. Sharplink held 876,285 ETH as of June 21. EmberCN estimated its average acquisition cost at $3,609 per ETH. That implies a large unrealized loss at current market prices.

Digital Asset Investment Products Market Overview

US spot Bitcoin ETFs recorded $1.79 billion in net outflows from June 22 to June 26, according to data from Sosovalue. The week ranked among the largest withdrawals since the funds launched. June flows reached about $4.06 billion in redemptions, making it the weakest month on record.

Spot Bitcoin ETFs Saw $1.79B in Net Outflows Last Week, Third-Highest Weekly Outflow on Record

From June 22 to June 26 (ET), spot Bitcoin ETFs recorded net outflows of $1.79 billion, marking the third-highest weekly net outflow on record. Spot Ethereum ETFs saw net outflows of… pic.twitter.com/6CDFFVY68L

— Wu Blockchain (@WuBlockchain) June 29, 2026

BlackRock’s IBIT led the pressure, with withdrawals representing a large share of last week’s exits. Ethereum ETFs also lost $273 million, extending their outflow run to seven weeks. Meanwhile, spot XRP ETFs added $22.99 million, while HYPE ETFs attracted $111 million.

Bitcoin Price Performance

The crypto market experienced a volatile period last week as the overall market valuation dropped to $2.05 trillion. Bitcoin reclaimed above the $65K mark on June 22 and fell below $60,000 on June 24. At the end of the week, the asset dropped to $58,000 before it bounced back. At the time of this writing, Bitcoin was trading around $59,807, down by 1.40% on the daily chart.

Looking at the weekly chart, BTC is trading around the key support in the $59K region. The bears have the upper hand at the moment as red candlesticks continue forming. Technical indicators such as the RSI and MACD suggest that the asset could drop further if the current trend holds.

The 14-day RSI is heading downward toward the oversold region at 32. Meanwhile, the MACD line has dropped below the signal line, indicating shifting market dynamics. Moreover, the histogram has started to form red bars, suggesting signs of rising selling pressure.