CLARITY Act Gains Momentum as 1,200 Firms and Lummis Push Senate

1,200 tech firms urge Senate to pass CLARITY Act as Lummis vows to end developer prosecution The Consumer Technology Association, representing over 1,200 companies including Amazon and Apple, called for swift Senate passage of the CLARITY Act. Senator Cynthia Lummis separately stated the bill would stop prosecutors from targeting developers for writing code, while the bill faces a 60-vote hurdle in the Senate with only two Democrats publicly supporting it so far. 123

Japanese corporate pension fund plans 1% crypto allocation in landmark move The Nationwide Business Corporate Pension Fund, serving 1,200 small and medium firms and managing $130 million, will allocate roughly 1% to a passive crypto fund in fiscal 2026. The move follows Japan's recent legislation bringing crypto under the Financial Instruments and Exchange Act, paving the way for ETFs and a potential 20% flat tax on gains. 4

Kraken Pro to launch first CFTC-regulated perpetual futures in the US within 30 days Kraken will offer perpetual futures on Bitcoin, Ether, and other assets to eligible US clients via Kraken Pro, listed on CFTC-regulated Bitnomial Exchange. The move brings the popular offshore derivatives product onshore under full US regulatory oversight for the first time. 5

Ethereum L2 Taiko halts block production after exploit, urges users to withdraw funds Taiko confirmed a compromise of its bridge message-proof verification, allowing forged withdrawal proofs. Block production has been halted, and the team advises all users to withdraw funds from bridges immediately; the exploit has been contained and withdrawals stopped. 6

Notorious jaredfromsubway MEV bot drained for $7.5 million in counter-MEV honeypot An attacker tricked the Ethereum sandwich bot into approving malicious contracts over several weeks, then drained WETH, USDC, and USDT. The proceeds were consolidated into 4,427 ETH, with 1,000 ETH routed through Tornado Cash. 78

Bitcoin whales absorb record retail selling as supply in loss hits all-time high On-chain data from CryptoQuant shows 9.5 million BTC in loss, matching capitulation depths of 2019 and 2022. New whale wallets with a $72,100 cost basis are underwater, while long-term holders and miners sit at lower cost bases, suggesting structural support near current levels. 9

Ethereum nears first-ever three-quarter losing streak as ETH trades near $1,725 Ether is on track for three consecutive red quarters for the first time, with only days left in Q2 2026. Persistent selling pressure and weak recoveries have kept ETH below $1,800, though network fundamentals remain intact. 10

NY Attorney General sues Coinbase and Gemini over unlicensed prediction markets Letitia James filed lawsuits alleging the platforms operated prediction markets without state gambling licenses, seeking disgorgement and a ban on offerings to users under 21. The action signals heightened state-level scrutiny on crypto-based event betting. 11

Secret Network bridge exploited for $4.67 million via infinite-mint flaw An attacker exploited a vulnerability in the Secret Network-Axelar bridge to mint unlimited tokens, draining over $4.6 million. The bridge has been paused as the team investigates. 12

Base activates Beryl upgrade June 25 with new B20 token standard and faster withdrawals The upgrade introduces B20, a native token standard with built-in compliance tools, reduces the single-proof withdrawal window from 7 to 5 days, and adopts Reth V2 for lower node disk usage and higher throughput. 13

Altura winds down stablecoin vault after unprecedented withdrawal requests The DeFi protocol processed over 8.5 million USDT in redemptions in 24 hours amid contagion fears from the msUSD depeg. Altura is winding down its $39 million TVL vault on HyperEVM to protect user capital. 14