Here is what happened yesterday in the crypto market:
Bitcoin Drops Below $104K Amid Tariff Tensions
Bitcoin experienced a dip to around $104,000 as renewed concerns about US-China tariffs rattled the markets. This downturn affected the broader crypto market, causing many cryptocurrencies to slide. Traders are closely monitoring the situation as economic tensions continue to influence market sentiment.
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Thailand to Block Multiple Crypto Exchanges
Thailand’s Securities and Exchange Commission (SEC) announced it would block access to several cryptocurrency exchanges, including Bybit, OKX, CoinEx, 1000X, and XT.com, effective June 28. The decision stems from these exchanges operating without proper licenses within Thailand, impacting local crypto traders.
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FTX Commences $5 Billion Repayment to Creditors
The FTX Recovery Trust has begun distributing over $5 billion in cash and stablecoins to creditors. Payments are expected to arrive in accounts within three business days, potentially injecting liquidity back into the crypto market and influencing market dynamics.
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Stripe Explores Bank Partnerships for Stablecoin Integration
Payment processing firm Stripe is in early discussions with banks about integrating stablecoins into their core services. This move signals growing acceptance and importance of digital tokens in global payments, potentially bridging the gap between traditional finance and the crypto world.
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SEC Clarifies Stance on Crypto Staking
The SEC has provided new guidance indicating that crypto staking, under certain conditions, does not violate U.S. securities law. This clarification is viewed as a positive step for the crypto industry, offering more regulatory clarity around staking activities.
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