Category: News

Shiba Inu (SHIB) is showing early signs of recovery, gaining ground from recent lows as its RSI rebounds and key support levels hold. Despite these positive signals, SHIB failed to break above the RSI 51 mark and continues to face pressure from bearish EMA alignments.

At the same time, whale activity has been steadily declining, suggesting reduced confidence from large holders and raising questions about long-term support. With price action stuck between major support and resistance zones, SHIB’s next move will likely depend on whether momentum strengthens—or fades once again.

Shiba Inu Momentum Improves, But RSI Rejection Signals Caution

Shiba Inu has seen a shift in momentum, with its Relative Strength Index (RSI) rising to 47 from 30.18 just three days ago, signaling a recovery from near-oversold conditions.

However, it’s worth noting that SHIB failed to break above the 51 RSI mark yesterday, suggesting that bullish momentum remains fragile for now.

While the recent bounce reflects easing selling pressure, the inability to push into clearly bullish territory indicates ongoing hesitation among buyers.

The RSI, or Relative Strength Index, is a momentum oscillator that gauges the speed and magnitude of price changes, helping identify overbought or oversold conditions.

Readings below 30 point to oversold levels, while values above 70 suggest overbought territory. With SHIB’s RSI now sitting at 47, the asset remains in a neutral zone—neither overextended nor deeply discounted.

This mid-range positioning leaves room for either a breakout or a reversal, depending on how price action develops around current resistance and support levels.

Decline in SHIB Whales Signals Potential Weakness Ahead

The number of Shiba Inu whales—wallets holding at least 1 billion tokens—has been gradually declining since June 11, falling from 10,259 to 10,231.

While the drop may seem modest, it reflects a slow but steady reduction in large holder participation, which could signal weakening confidence among major players.

A consistent downtrend in whale activity often correlates with diminished support during volatile phases, making SHIB more vulnerable to price swings.

Tracking whale behavior is critical because large holders can influence price movements through sudden buys or sells. A rising whale count often suggests accumulation and long-term confidence, while a declining number may imply distribution or exit.

With SHIB whale wallets shrinking, it could indicate that major investors are either taking profits or hedging against further downside.

If this trend continues, it may add pressure on SHIB’s price, especially if retail interest fails to offset the whale outflows.

SHIB Holds Key Support, But Bearish EMAs Keep Bulls in Check

Shiba Inu price recently tested and held the key support level at $0.0000119, offering a temporary floor despite broader bearish signals.

The token’s Exponential Moving Averages (EMAs) remain in a bearish alignment, with short-term EMAs positioned below long-term ones—indicating ongoing downward pressure.

If this support is retested and fails to hold, SHIB could slide toward the next critical level at $0.0000114, potentially opening the door for further downside.

However, if sentiment shifts and SHIB manages to build upward momentum, the price could challenge the immediate resistance at $0.0000128.

A breakout above this level may trigger a rally toward $0.0000136, and if buying pressure continues, even a push to $0.0000146 is possible.

For now, SHIB is trapped between crucial support and resistance zones, and a clear break in either direction will likely define its short-term trajectory.

The post Why Shiba Inu (SHIB) Price Remains Weak Despite Positive Indicators appeared first on BeInCrypto.

Solana (SOL) is down nearly 13% over the last four days, reflecting a sharp loss of momentum across key technical indicators. The Ichimoku Cloud remains bearish, with price action stuck below a thick resistance zone and short-term lines reinforcing downward pressure.

Meanwhile, SOL’s BBTrend has plunged to -5.68, its lowest level in 11 days, signaling intensified selling activity. With EMA lines still in bearish formation and price struggling to reclaim $150, Solana continues to face strong resistance and uncertain short-term direction.

Bearish Ichimoku Setup Weighs on Solana Price

Solana’s Ichimoku Cloud chart shows a persistently bearish setup. The price action remains below the Kumo (cloud), which has transitioned from red to green in the near future but still indicates overhead resistance.

The blue Tenkan-sen (conversion line) is below the red Kijun-sen (base line), reflecting continued short-term bearish momentum.

Candlesticks are struggling to gain traction above the Tenkan-sen, signaling weak buyer strength and limited upward pressure.

Looking ahead, the cloud itself thickens and flattens, suggesting that even if price attempts a recovery, it will face strong resistance when it approaches the cloud zone.

The leading span lines—Senkou Span A (green) and Senkou Span B (red)—are relatively wide apart, reinforcing uncertainty and low bullish conviction.

The overall trend remains tilted to the downside until price decisively breaks into or above the cloud.

Solana BBTrend Dives Into Bearish Territory

Solana’s BBTrend has sharply dropped to -5.68, marking its lowest reading in the past 11 days.

This decline comes after a brief surge yesterday when the indicator approached the 1.5 zone, hinting at temporary bullish momentum that has since reversed.

The sharp swing into negative territory signals growing weakness and fading buying pressure in the short term.

The BBTrend (Bollinger Band Trend) measures the strength and direction of price movements relative to the Bollinger Bands.

Values above 1 suggest a strong uptrend, while readings below -1 indicate a strong downtrend.

A BBTrend of -5.68 places Solana deep in bearish territory, signaling an aggressive downward move and suggesting that volatility is expanding in favor of sellers. If this persists, it could increase the likelihood of further downside pressure in the near term.

SOL Struggles at $150 Resistance After Sharp Drop

Solana’s EMA lines remain in a bearish alignment, with short-term averages still positioned below the long-term ones—confirming a downtrend structure.

Price action has struggled to reclaim the $150 level over the past few days, following a sharp drop of more than 10% triggered by the recent escalation in the Israel-Iran conflict.

This failure to regain momentum reinforces the current weakness in buying pressure.

If Solana manages to break through the $150 resistance, it could trigger a recovery toward the $163 and $168 levels, with further upside potential if bullish momentum builds.

However, if the correction resumes, downside pressure may push the price back toward the $141 support zone.

The EMA setup suggests that any rally attempts may face strong resistance until short-term averages start curving upward and crossing over long-term ones.

The post Solana Hit Hard by Iran-Israel Turmoil – Will SOL Price Continue to Decline? appeared first on BeInCrypto.

Vietnam has approved a landmark bill to create a structured legal environment for digital assets. The new legislation, called the Law on Digital Technology Industry, will take effect in January 2026.

This lays the groundwork for regulated crypto activity and is designed to enable the growth of the emerging industry.

Vietnam Unveils Bold Crypto Law

According to reports, the new law formally recognizes digital assets and divides them into two main categories of virtual assets and crypto assets.

Crypto assets are digital instruments that rely on encryption and blockchain technologies for creation, issuance, storage, and transfer. These include tokens used to validate transactions and verify ownership on distributed networks.

In contrast, virtual assets are used primarily for trading or investment purposes. They do not include instruments like securities, stablecoins, central bank digital currencies (CBDCs), or other regulated financial products.

The legislation grants the government authority to define these asset classifications, set business conditions, and oversee their operations.

It also mandates relevant agencies to enforce strict anti-money laundering (AML) and counter-terrorism financing (CTF) standards to protect the integrity of the ecosystem.

Beyond crypto regulation, the law lays a foundation for broader technological advancement.

It introduces policies to strengthen Vietnam’s digital infrastructure and foster growth in areas such as artificial intelligence, semiconductors, and high-tech manufacturing.

According to the report, technological firms working on digital products or advanced computing systems will gain access to various incentives. These include support for research and development, talent training, and collaborative infrastructure building.

This comprehensive approach aligns with Vietnam’s ambition to become a competitive player in the digital economy. According to Chainalysis, the country currently ranks fifth worldwide in crypto adoption, demonstrating strong domestic demand.

Industry players believe that a formal framework will help Vietnam attract more investment and position itself as a serious contender alongside established blockchain hubs like Singapore.

Notably, Vietnam’s regulatory push follows the Ministry of Finance’s recent efforts to launch a pilot crypto trading platform with support from the Bybit crypto exchange.

The post Vietnam Government Passes Law to Legalize Crypto Assets appeared first on BeInCrypto.

Bybit, one of the world’s leading centralized crypto exchanges, is preparing to enter the decentralized finance (DeFi) space with the launch of Byreal, its first on-chain trading platform.

The platform will go live on the Solana network, with its testnet debut set for June 30 and the mainnet launch expected in the third quarter of this year.

What is Bybit’s Byreal?

According to the exchange, the new platform is part of its broader ambition to bridge the gap between centralized and decentralized trading.

Byreal aims to offer users a seamless experience with CEX-level liquidity, rapid execution, and low slippage, all while preserving the transparency and autonomy native to DeFi.

Byreal incorporates features like Request for Quote (RFQ) and Concentrated Liquidity Market Maker (CLMM) routing to achieve this.

These tools are designed to shield users from maximal extractable value (MEV) attacks and provide more efficient price execution.

Byreal will also roll out innovative features to improve user access and token distribution. These include the “Reset Launch” mechanism, which uses Smart Price Laddering and the Faishare Engine to ensure fairer token allocations.

Additionally, the DEX will include a Revive Vault, offering curated yield opportunities for assets such as bbSOL and other Solana-based tokens.

Bybit CEO Ben Zhou described Byreal as a critical step in the company’s vision of hybrid finance—an emerging model that combines the advantages of centralized and decentralized exchanges.

Announcing Byreal — our first onchain DEX incubated by Bybit, will be LIVE by end of the month. Starting from scratch and now born on Solana. what’s special: 1/ CEX + DEX synergy Byreal isn’t “just another DEX.” It’s combining CEX-grade liquidity with DeFi-native transparency.… https://t.co/JU60e4zHQ4

— Ben Zhou (@benbybit) June 15, 2025

Bybit’s move sets it apart from competitors like Coinbase and Kraken, which have concentrated efforts on Layer 2 solutions. Instead, Bybit is positioning Byreal to go head-to-head with leading DEX platforms such as Uniswap, PancakeSwap, and Hyperliquid.

Notably, the timing aligns with renewed interest in decentralized trading activities, which grew by more than 15% over the past week.

Meanwhile, Byreal reflects Bybit’s renewed focus on strengthening its core products, following the $1.4 billion security breach in February.

Beyond crypto, the exchange recently expanded its product suite to include US equities, commodities, and index trading.

The post Bybit is Launching a Decentralized Exchange on Solana appeared first on BeInCrypto.

Polyhedra Network’s ZKJ token crashed nearly 60% in under an hour on June 15, wiping out over $360 million in market capitalization. 

KOGE, the governance token of 48 Club DAO, also dropped by 50% during the same window, losing more than $100 million in market cap.

ZKJ Faces Major Liquidity Mismanagement

The sharp sell-off began when the KOGE/USDT liquidity pool was depleted, leaving liquidity providers unable to exit. Panic selling followed as investors began converting KOGE into ZKJ.

According to early community reports, the KOGE team failed to add USDT to its liquidity pool. This triggered what some users called a “rug from both sides.”

With no USDT left in the KOGE pool, holders rushed to offload KOGE into the ZKJ pool, which was still actively defended by its team.

However, the rapid influx overwhelmed the ZKJ/USDT pair, causing a domino effect that tanked ZKJ’s price and investor confidence.

Why is $ZKJ dumping -41.1% today?
Price dropped to $1.164 with plunging volume & bearish momentum

Binance Alpha volumes collapsed = whales & bots dominate
$32M unlock (5.3% supply) = major dilution pressure
RSI: 23.9 (oversold) but no bullish divergence yet
… pic.twitter.com/YY3hHtcYok

— Mayank Dudeja (@imcryptofreak) June 15, 2025

Members of the 48 Club DAO, the group behind KOGE, expressed outrage over the incident, accusing the team of negligence and mismanagement.

Social media was flooded with posts demanding accountability from both projects. The phrase “rugged from both sides” trended within crypto circles.

This incident has severely damaged trust in both ecosystems, with users questioning the sustainability of their liquidity strategies.

Yes, $KOGE was fully diluted from day one.

And no — 48Club never promise we wouldn’t sell. Neither did Binance for $BNB, right?

Do your own research.
Take your own risk.

— 48 Club (Est. ’17) (@48Club_Official) June 14, 2025

Beyond liquidity concerns, market structure added further pressure. A 5.3% ZKJ token unlock, worth $32 million, is scheduled later this week.

With Binance Alpha volume collapsing, analysts warned that bots and whales dominate the order books, exacerbating volatility in both tokens.

ZKJ and KOGE: Tightly Linked Ecosystems

The crash highlights the intertwined nature of ZKJ and KOGE. Both tokens are frequently paired in liquidity pools and used in farming strategies.

While ZKJ powers zkBridge and ZKP infrastructure, KOGE operates as a governance token for 48 Club—a group focused on BNB Chain DeFi.

Recent coordinated farming and arbitrage activity had inflated volumes between the two, making them vulnerable to liquidity shocks.

The post Polyhedra Network’s ZKJ Crashes 60% Amid Liquidity Crisis appeared first on BeInCrypto.

RWA altcoins are drawing renewed attention this week, with Sky (SKY), Plume (PLUME), and Centrifuge (CFG) showing sharply contrasting trends. SKY leads the pack with a 19% weekly gain, fueled by strong adoption of its upgraded Maker-based ecosystem.

PLUME has dropped 21% following the death of its co-founder. This comes despite the project’s recent mainnet launch and strong backing from major investors.

Meanwhile, CFG has surged over 14% in the past 24 hours. The jump follows its $1 billion milestone announcement and its expansion of real-world asset access on Solana.

Sky (SKY)

Sky Protocol is a decentralized financial system built as an evolution of the Maker Protocol. It introduces upgraded tokens—USDS and SKY—as direct successors to DAI and MKR.

Over the past seven days, SKY has surged more than 19%, making it the top-performing token among the ten largest real-world asset (RWA) altcoins.

With its market cap now nearing $1.9 billion, bullish sentiment has grown around the token. If this upward momentum continues, SKY could test resistance at $0.094 and potentially push toward $0.10.

However, if the market turns and support at $0.075 is broken, downside targets include $0.069 and $0.0635.

Plume (PLUME)

Plume Network is a Layer 1 blockchain focused on bringing real-world assets (RWAs) into DeFi through tokenization.

The project has received backing from major firms like YZi Labs and Apollo Global, and recently launched its long-awaited Genesis mainnet to support yield-bearing RWAfi assets.

However, the sudden and tragic death of co-founder and CTO Eugene Shen sparked confusion, speculation, and a wave of selloff.

Despite Plume’s established investor base and progress in onboarding over 200 projects, public trust took a hit as trading volume surged and rumors swirled about the circumstances surrounding Shen’s death.

In the past seven days, PLUME has dropped 21%, dragging its market cap down to $200 million.

The ongoing correction puts the token at risk of falling below the $0.90 mark if bearish sentiment persists.

On the upside, a reversal could see PLUME testing resistance at $0.115, with potential targets at $0.128 and $0.142 if momentum strengthens.

Centrifuge (CFG)

Centrifuge is a real-world asset (RWA) tokenization platform. It lets asset managers bring financial products onchain and gives investors access to a diverse tokenized asset portfolio with real-time, transparent data.

The protocol recently expanded to Solana by launching deRWA tokens—freely transferable RWAs.

These can be traded, lent, or used as collateral across major Solana DeFi platforms like Raydium, Kamino, and Lulo.

Two days ago, Centrifuge announced it has surpassed $1 billion in total real-world assets financed—an important milestone for the RWA sector.

Centrifuge’s native token, CFG, has gained over 14% in the last 24 hours, pushing its market cap to around $108 million.

The token is currently attempting to break through the $0.20–$0.21 range, with a potential next target at $0.264 if momentum continues.

On the downside, if support at $0.177 fails, CFG could retrace toward $0.167.

The recent price surge reflects renewed investor interest amid strong fundamental progress and growing adoption within the DeFi space.

The post Top 3 RWA Altcoins to Watch for the Third Week of June appeared first on BeInCrypto.

Despite a wider correction in the crypto market, some altcoins are surging this week, with SPX, WBT, and HYPE leading the charge among top gainers. SPX has jumped over 100% in the past 30 days, solidifying its role as a major meme coin.

WhiteBIT Token (WBT) hit a new all-time high above $38, showing strong momentum despite a broader market pullback. Meanwhile, HYPE continues to dominate the perpetuals market, trading near record highs as its market cap pushes it into the crypto top 10.

SPX6900 (SPX)

SPX has been one of the standout performers among meme coins over the past month, with its price soaring nearly 102% in the last 30 days and another 28% just in the past week.

With a market cap of $1.34 billion and a 24-hour trading volume of $138 million, SPX has firmly established itself as a major player in the meme coin sector.

From a technical perspective, SPX’s EMA lines remain bullish, with short-term averages still above long-term ones—although the gap between them is starting to narrow.

This suggests some weakening in upward momentum, making the support level at $1.22 a key zone to watch. If that level breaks, price could retrace further toward $0.99 and potentially $0.90.

However, if bullish sentiment holds and volume picks up, SPX could retest and possibly break its resistance at $1.74, opening the door for another leg higher.

Whitebit Coin (WBT)

WhiteBIT Coin (WBT) defied the broader market downturn to set a new all-time high above $38, making it the top-performing coin of the day.

With a 13% gain in the last 24 hours and nearly 23.5% over the past week, WBT has shown notable resilience and strong investor interest despite overall market weakness.

Looking ahead, if bullish pressure continues and market conditions stabilize, WBT could target the psychological levels at $40 and potentially $45.

However, short-term caution remains warranted, as the nearest support at $32.22 will be key to maintaining the current uptrend. A break below that level could trigger further downside toward $30.86.

Hyperliquid (HYPE)

Hyperliquid’s native token, HYPE, has been trading near all-time highs over the past several days, currently hovering around $40 after briefly touching levels close to $44.

The token is up nearly 64% over the past 30 days, placing it among the top 10 cryptocurrencies by market cap when excluding stablecoins and wrapped assets. This surge reflects Hyperliquid’s dominance in the perpetuals trading space, with the protocol now capturing 76.9% market share—up from 63.7% in December 2024.

From a technical standpoint, HYPE still shows strong bullish momentum, supported by its recent listing on Binance US and ongoing speculation around a potential Binance listing.

If the rally continues, the token could soon break above the $45 mark. However, if price starts to cool and the $38.2 support level is lost, a drop toward $32.63 becomes more likely.

The post This Week’s Largest Altcoin Gainers: How Far Will These Tokens Go? appeared first on BeInCrypto.

Defunct crypto firms FTX and Alameda Research have moved $10.3 million worth of Solana (SOL) to 30 blockchain addresses, continuing their methodical liquidation of digital assets.

The transfer, carried out on June 13, was flagged by on-chain analytics platform Arkham Intelligence.

FTX Shifted Over $1 Billion in Staked Solana Since November 2023

Blockchain researcher EmberCN confirmed the activity and noted that the firms had recently unstaked 188,000 SOL, worth around $31.5 million. A portion of those tokens has already been redirected to the new addresses.

Meanwhile, these transfers follow a consistent pattern observed since November 2023, where both entities have routinely offloaded large volumes of SOL.

Since then, EmberCN noted that the bankrupt firms have moved over 8.4 million SOL, amounting to more than $1.09 billion.

Most of these tokens reportedly moved at an average price of $130 and were often routed through major exchanges such as Binance and Coinbase, suggesting active selloff. Market observers noted that these are part of efforts to reimburse creditors following their bankruptcy in 2022.

However, despite the consistent outflows, the estate still holds a significant amount of Solana. FTX still has about 5.29 million SOL, valued at over $775 million, remaining under its control, with 5.05 million locked in staking contracts.

Meanwhile, the recent Solana transactions come as FTX continues disbursing funds under its approved Chapter 11 reorganization plan.

The bankrupt estate has completed two payment phases to former customers and investors in recent months. The failed firm paid approximately $1.8 billion in February to creditors, followed by an additional $5 billion in May.

Moreover, FTX recently added Payoneer to its list of distribution partners. This move complements existing custodians Kraken and BitGo and aims to streamline the repayment process while expanding global reach.

Analysts suggest this inclusion aims to help users in jurisdictions where crypto custodian limitations previously delayed access to funds.

Still, many creditors in countries like Russia, China, Egypt, and Nigeria remain blocked from receiving payouts. These users made up a sizable portion of FTX’s customer base before the exchange collapsed.

The post FTX Sends Fresh $10 Million in Solana to 30 wallets appeared first on BeInCrypto.

XRP faces a mixed setup as positive news struggles to lift its price. Despite announcements like the upcoming XRPL EVM mainnet launch and the integration of USDC, XRP has dropped 6.5% over the past three days.

Technical indicators such as RSI and DMI show early signs of shifting momentum, while EMA signals remain bearish. Monday marks the final opportunity for Ripple and the SEC to settle their lawsuit—if it fails, the legal battle could extend into 2026, adding further pressure to XRP’s short-term outlook.

XRP Gains Utility, But Price Struggles Ahead of Legal Deadline

Despite a wave of positive developments around Ripple, XRP’s price hasn’t followed suit—falling 6.5% over the last three days. This comes even as Ripple executives confirmed the XRPL EVM sidechain will launch on mainnet in Q2 2025, a major step that will bring Ethereum-compatible smart contracts to the XRP Ledger. Recently, more companies have also started to build XRP reserves.

In parallel, Circle announced the native launch of USDC on XRPL, signaling deeper institutional support and greater utility across DeFi, payments, and global settlements.

However, the market remains cautious as all eyes now turn to Monday, the final window for Ripple and the SEC to settle their long-running lawsuit.

After a failed attempt in May, Ripple and the SEC have submitted a revised motion to reverse a key securities ruling—but legal experts remain skeptical.

Critics argue the new filing lacks substance, offering few compelling arguments to change Judge Torres’ original decision. If the motion is denied again, Ripple may face an extended ban on retail securities sales, and the legal battle could drag into 2026.

Despite regulatory tailwinds and growing infrastructure support, XRP appears trapped between bullish headlines and bearish price action.

XRP Momentum Shifts: RSI and DMI Signal Potential Reversal

XRP’s Relative Strength Index (RSI) has risen to 43.56, up significantly from 28.24 just two days ago. RSI is a momentum indicator that measures the speed and magnitude of recent price changes, typically on a scale from 0 to 100.

Readings below 30 indicate that an asset may be oversold, while readings above 70 suggest it could be overbought.

XRP’s recent move out of oversold territory and into the mid-40s signals a potential shift in momentum, suggesting early signs of buyer interest returning—though it hasn’t yet crossed into bullish territory.

XRP’s Average Directional Index (ADX)—which measures the strength of a trend regardless of direction—has climbed to 26.47, up from 18.84, crossing the key 25 threshold that typically marks the beginning of a strong trend.

Meanwhile, the +DI (positive directional index) rose from 10.56 to 15.57, while the -DI (negative directional index) fell sharply from 36.77 to 23. This crossover indicates that bullish pressure is rising while bearish pressure is fading.

If this dynamic continues and the ADX keeps climbing, XRP could be setting up for a trend reversal to the upside.

EMA Signals Still Bearish, But XRP Eyes Break Above $2.28

XRP’s Exponential Moving Averages (EMAs) are still in a bearish configuration, with short-term lines sitting below long-term ones—a sign that downward momentum remains in place.

However, recent price action suggests that sentiment might be shifting. If XRP can build on its recovery and push through the key resistance at $2.28, it could open the door for a move toward the next target at $2.33.

This potential breakout would mark a significant technical improvement and signal renewed bullish strength.

That said, the setup still demands caution. If XRP fails to sustain its current upward push and faces rejection at resistance, a correction could drag the price back down toward the $2.05 support zone.

The post Why XRP Keeps Falling Despite Bullish Headlines from Ripple appeared first on BeInCrypto.

According to Wall Street reports, both Amazon and Walmart are evaluating a move into the stablecoin market.

The reports, citing people familiar with the matter, stated that their effort is part of a broader push to improve payment efficiency and reduce processing fees.

Amazon and Walmart Eye Stablecoin

According to the report, the two retail giants are considering multiple options, including issuing their own digital currencies or collaborating within a stablecoin consortium.

This initiative could mark a major shift in how retail payments are processed, allowing merchants to bypass traditional financial intermediaries like Visa and Mastercard.

These legacy systems often impose high fees and slow settlement times. In contrast, stablecoins promise near-instant transaction finality and significant cost reductions.

Considering this, market observers pointed out that Amazon and Walmart’s initiative reflects a growing appetite among large corporations to modernize payments using blockchain-based infrastructure.

The world’s two largest retailers are trying to figure out how to either issue their own stablecoin or use an outside stablecoin…

And there are *still* people who think (hope) crypto will all just go away.

It’s comical at this point.

Not sure what else you need to see. pic.twitter.com/VXurff4UZo

— Nate Geraci (@NateGeraci) June 14, 2025

Plan Faces Regulatory Headwinds

Despite the growing interest in these assets, the success of Amazon and Walmart’s stablecoin ambitions may hinge on the evolving US regulatory environment.

US lawmakers are reviewing the Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act). The bill recently advanced in the Senate and will soon be up for a final vote.

The proposed law aims to bring stability to the $251 billion stablecoin market by setting clear rules for issuance, reserve backing, and consumer protection. Its supporters argue that the regulatory clarity would boost public trust and encourage innovation in the emerging industry.

However, the current version of the GENIUS Act explicitly restricts non-financial public companies from issuing stablecoins directly.

This limitation could pose a significant hurdle for firms like Amazon and Walmart. They would need to secure regulatory exemptions or operate through licensed banking subsidiaries.

Considering this, Alex Thorn, head of research at Galaxy Digital, noted that the retailers would likely need to establish or acquire a regulated financial entity to participate. He added that the process would involve navigating approvals from the Federal Reserve, the FDIC, and the Treasury.

Despite this potential convoluted process, Amazon and Walmart’s interest suggests that major retailers are preparing for a future where stablecoin payments become part of everyday commerce.

The post Amazon and Walmart are Preparing to Launch Stablecoins appeared first on BeInCrypto.