Supreme Court gives Trump power to fire SEC and CFTC heads at will

The US Supreme Court ruled 6-3 that the president may remove heads of independent agencies like the SEC and CFTC without cause, overturning 91-year precedent and reshaping crypto regulation. Separately, Michael Saylor's Strategy filed to sell up to $1.25B in Bitcoin, pushing prices below $60K. BlackRock integrated Ethena's USDe into its Aladdin platform, BNY Mellon enabled institutional USDC mint/burn, USDT premium in India hit 8.5%, and Ethereum L2 pioneer Loopring shut down its DEX.

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Supreme Court gives Trump power to fire SEC and CFTC chiefs at will The 6-3 ruling overturns a 91-year precedent, allowing the president to remove heads of independent agencies without cause. This could accelerate turnover at the SEC and CFTC, potentially shifting crypto regulation. 1 2 3

Strategy may sell $1.25 billion in Bitcoin, shocking markets The largest corporate Bitcoin holder filed with the SEC to sell up to $1.25B worth of BTC for cash reserves and buybacks. Bitcoin dropped below $60,000 as the market reacted. 4 5

BlackRock integrates Ethena's USDe into its $25 trillion Aladdin platform The world's largest asset manager gives institutional clients direct access to Ethena's synthetic dollar and DeFi yields. A $100M liquidity facility with BUIDL backs the move. 6

BNY Mellon enables institutions to mint and burn USDC directly from custody The bank with $59 trillion in custody assets now lets clients convert USD to USDC and back within its infrastructure. Circle plans to add more stablecoins. 7

USDT premium in India surges past 8.5% amid stablecoin supply squeeze Tether trades at INR 103 vs official rate of 94.65, more than double the usual premium. The shortage reflects heavy demand for dollar-pegged assets in the world's top crypto market. 8

Ethereum L2 pioneer Loopring shuts down its DEX after declining adoption The zkRollup project ends operations as newer zkEVM networks dominate. User funds will be distributed to Ethereum wallets. 9

BlackRock's Bitcoin ETF sees $300 million daily outflow as Treasury yields rise IBIT recorded $300M in redemptions on Monday, contributing to $4.3B in June outflows. Institutions rebalance portfolios away from risk assets. 10