Daily News: US Housing Regulator to Add Crypto As Mortgage Assets, NVIDIA Becomes Most Valuable Company Ahead of Microsoft, and More

US Housing Regulator Plans to Include Cryptocurrency as Recognized Asset for Mortgage Applications

Pulte, director of US Federal Housing Finance Agency, plans to add crypto into mortgage assets assessments. He posted on X that: "After significant studying, and in keeping with President Trump’s vision to make the United States the crypto capital of the world, today I ordered the Great Fannie Mae and Freddie Mac to prepare their businesses to count cryptocurrency as an asset for a mortgage."

Arizona Establishes Bitcoin Reserve with Seized Crypto

Arizona passed HB2324 Bill to create a state-run Bitcoin and digital asset reserve funded through seized cryptocurrency. The first $300,000 from these funds will go to the Attorney General, with the rest allocated between state operations and the reserve. This legislation complements a prior bill allowing Arizona to hold unclaimed crypto in its native form and direct staking rewards to state funds.

NYC Mayor to Establish A City Council for Crypto Advocacy

Mayor Eric Adams criticized former Governor Andrew Cuomo’s approach to cryptocurrency, claiming it dismantled the industry, as New York voters prepared for the Democratic primary. Adams, running for reelection, outlined plans to establish a city council for crypto advocacy, introduce digital asset education in schools, and explore Bitcoin-backed municipal bonds despite opposition. Meanwhile, Cuomo, leading in polls, faces a contentious primary amid past allegations of misconduct.

Fed Chain Powell: Stablecoin Industry Has Matured

Federal Reserve Chair Jerome Powell stated that Bitcoin and other crypto assets have matured and become more mainstream, emphasizing that banks should have the freedom to engage with crypto as long as they manage risks appropriately. During his June 25 testimony before the Senate Banking Committee, Powell noted that regulators are reassessing policies made during crypto's early development phase and expressed support for banks engaging in crypto under safe and sound practices.

Morgan Stanley Expects Seven Fed Rate Cuts in 2026

Morgan Stanley expects seven Fed rate cuts in 2026. The cuts are anticipated to start in March, ultimately lowering the rate to 2.5% to 2.75%.

EU to Clarify Stablecoin Interchangeability Rules

The European Commission is set to clarify that stablecoins issued by EU-licensed entities can be treated as interchangeable with those issued by non-EU entities of the same company. This guidance aims to address regulatory concerns under the EU's MiCA framework, ensuring that reserves backing these tokens are adequately managed to maintain financial stability. The European Central Bank has raised concerns about risks to EU sovereignty, but the Commission believes stablecoins with proper governance and collateralization are unlikely to face significant runs.

UK's Barclays Bank to Ban Crypto Transactions Starting June 27

Barclays announced that it will block crypto transactions made through its Barclaycard credit cards starting June 27, citing concerns over cryptocurrency volatility and the potential financial risks for customers. The bank emphasized that crypto assets are not covered by financial protection schemes, leaving users vulnerable to significant losses. This decision aligns with a broader debate in the UK regarding restrictions on using credit for crypto purchases.

Korean Banks Collaborate to Launch Stablecoin Joint Venture

Eight major South Korean banks, including KB Kookmin, Shinhan, and Woori, are preparing to establish a joint venture for issuing a Korean won-based stablecoin. This initiative aims to counter the dominance of dollar-based coins in the global financial market and strengthen the domestic digital asset ecosystem. The project is exploring two issuance models—trust-based and deposit-token-based—and aligns with legislative developments such as the proposed Digital Asset Basic Act. While the venture is separate from the Bank of Korea's CBDC efforts, it highlights a strategic push for financial independence and competitiveness in digital currency.

NVIDIA Surpasses Microsoft to Become the World's Most Valuable Company

On June 25, NVIDIA's market value ($3.69 trillion) exceeded Microsoft's ($3.671 trillion), making it the highest-valued company globally.

Grayscale Officially Launches Space and Time Trust Fund

Grayscale launches the Grayscale Space and Time Trust (code: SXT), according to its official page on June 25. The trust is open to qualified accredited investors. As of the time of reporting, the trust manages assets worth $14,687,181.81, with a net asset value per share of $7.34.

Republic Offers Tokenized Access to SpaceX Shares

Republic starts selling digital tokens that mirror the performance of SpaceX’s private shares, aiming to provide retail investors exposure to high-profile private companies. This move, utilizing blockchain technology, marks an effort to democratize access to investments traditionally reserved for wealthy individuals and plans to expand to other firms like OpenAI and Anthropic.

Sahara AI Announces Tokenomics, 8.15% Allocated for Airdrops

Sahara AI announces its native token SAHARA's economic model. Of the total supply, 64.25% will be allocated for community and ecosystem development, including 33.93% for ecosystem building, 20.75% for community incentives, 8.15% for airdrops, and 1.42% distributed via the Buidlpad community.

The remaining allocations include 15% for core contributors, 19.75% for early supporters, and 1% for liquidity and market stability. Previously, Binance announced the launch of the 25th HODLer airdrop project, Sahara AI (SAHARA).

zkLend Announces Closure and Allocates $200,000 for User Compensation

zkLend announces its official closure. The decision was made following a recent security breach that severely damaged user trust, along with the delisting of the ZEND token from major exchanges like Bybit and KuCoin, which significantly impacted token liquidity and accessibility. The team decided to allocate the remaining $200,000 to a compensation fund for affected users rather than restarting the money market or continuing development. zkLend will keep DeFi Spring, the compensation portal, and the kSTRK portal open, continue collaborating with zeroShadow to track lost funds, and plans to open-source its audited codebase in the coming weeks.

Arbitrage Bot PrintMoney Hacked on BNB Chain, Loses $2 Million

Arbitrage bot PrintMoney was hacked on the BNB Chain, resulting in the theft of approximately $2 million worth of crypto assets. The incident was disclosed by on-chain security analyst PeckShield.

CZ Team Refutes Rumors of Changpeng Zhao's Pardon as False

The CZ team refuted rumors about Changpeng Zhao receiving a pardon, stating, "This is false information. Any updates will be shared with everyone as soon as possible," TechFlow reports.

Huobi Co-Founder Li Lin Acquires 5.9% Stake in Tiger Brokers Through Avenir Tech

Huobi (rebranded as HTX) Co-Founder Li Lin acquired a 5.9% stake in UP Fintech Holding Limited (Tiger Brokers) through an offshore company structure. According to the latest SEC 13G filing, Li Lin, via his wholly-owned Avenir series companies, ultimately holds 10,667,580 American Depositary Shares (ADS), including 7,741,893 ADS directly held by Avenir Tech Limited and full control over 2,925,687 ADS held by LL (BVI) Investment Limited.

Coinbase CEO Discloses Crypto Integration Services for 200 Institutions

Coinbase CEO Brian Armstrong disclosed on X that the company is currently providing cryptocurrency integration services to approximately 200 banks, brokerages, fintech firms, and payment companies. Armstrong stated that this business area is underestimated and invited interested institutions to discuss potential collaborations with Coinbase.

US Justice Department Seized SBF’s Robinhood Shares Now Worth $4.6 Billion

The US Justice Department seized Robinhood shares previously held by FTX founder Sam Bankman-Fried (SBF), which have now increased in value by over seven times to $4.6 billion. SBF purchased 56.27 million Robinhood shares in 2022 at an average price of $11.52 per share, totaling approximately $648 million and accounting for 7.6% of the company’s shares. After the collapse of FTX, the Justice Department confiscated these shares, and Robinhood later repurchased them for $606 million.