Cryptoccino — Saturday 13 June 2026

Standard Chartered calls the crypto winter over at $59K. Analyst Geoff Kendrick argued that bitcoin’s recent dip below $60,000 marked the cycle trough, making it the most prominent institutional bottom call of the downturn. Bitwise’s André Dragosch sits on the other side, putting potential further downside at up to 20% with a long-term holder cost-basis floor around $48,000 as the genuine pain scenario. coindesk decrypt theblock bloomberg_crypto

SpaceX surges 20% on Nasdaq debut, tokenised allocation chaos follows. SpaceX priced at $135 and opened sharply higher in its first Nasdaq session, briefly implying a valuation north of $2 trillion. Bybit, Binance, and Bitget all cancelled their tokenised SpaceX IPO allocations due to a share shortage, issuing refunds and additional compensation to affected users. coindesk theblock decrypt

Tether briefly overtook Ether by market cap over the weekend. For a few hours last weekend USDT’s market capitalisation edged above ETH’s, a milestone that reflects how far Ethereum’s valuation has compressed relative to the stablecoin’s growth. The episode has revived conversation about ETH’s demand narrative at a moment when the CoinDesk 20 shows the asset still sliding. bloomberg_crypto coindesk

Avalanche Treasury shares dropped 38% on their Nasdaq debut. The vehicle, formed through a $675 million merger, intended to accumulate over $1 billion in AVAX over time and anchor institutional capital in the Avalanche ecosystem. A near-40% first-day fall is a rough opening data point for the ecosystem-treasury playbook that several chains have been watching. theblock

BlackRock’s yield-bearing bitcoin ETF files 8-A, launch pencilled in for next week. Bloomberg analyst Eric Balchunas said the 8-A registration filing is effectively the final administrative step before trading begins, and he expects the product on the tape within days. The fund adds an income layer to bitcoin exposure at a moment when spot ETFs are approaching $2 trillion in cumulative trading volume despite recent outflows. theblock coindesk

Exodus and Ondo put 200-plus tokenised stocks and ETFs on Solana. The partnership routes trading of tokenised equities directly through the Solana blockchain, giving Exodus wallet users access without leaving the chain. It is one of the more operationally complete retail-facing tokenised-equity deployments announced to date. theblock

Ethena Labs commits $250 million to Securitize’s tokenised AAA CLO fund on Solana. The allocation goes into Securitize’s STAC product, which offers onchain access to institutional floating-rate structured credit. Ethena’s simultaneous Solana deployment signals the protocol is diversifying its reserve backing beyond T-bills and plain stablecoins. theblock

Metaplanet acquires Japanese securities firm Siiibo for $13 million. The deal, expected to close in July, gives the bitcoin-treasury company a licensed securities business it plans to rebrand as Metaplanet Securities. The stated ambition is to build bitcoin-linked yield products targeting Japan’s $7.4 trillion household savings pool as the country moves from deflation to inflation. theblock coindesk decrypt

Monero laundering maze covered in the lead. See lead story above for the full breakdown of the $120 million XMR routing and Tether’s $72 million freeze. coindesk

Tennessee man indicted for a four-year crypto Ponzi scheme. Federal prosecutors charged the individual with running a fraudulent investment scheme from 2020 to 2024 that allegedly deprived investors of millions. Charges include wire fraud and related counts. decrypt

SBF appeal rejected, presidential pardon now his only remaining path. A federal appeals court upheld Sam Bankman-Fried’s conviction on all fraud and conspiracy counts, calling the original trial robust. His legal team has already filed a pardon application with President Trump, which represents the last viable avenue before he serves out his 25-year sentence. coindesk theblock decrypt

CFTC sues New Mexico as its jurisdictional push over prediction markets widens. The regulator filed suit against New Mexico, continuing its campaign to assert federal authority over sports betting markets that several states argue are firmly under local jurisdiction. Former SEC and CFTC chair Gary Gensler filed a brief arguing Congress never intended to strip states of oversight over sports wagers, backing the state-rights position. theblock theblock coindesk decrypt

Polish president vetoes MiCA implementation bill for the third time. President Karol Nawrocki rejected the legislation with only weeks left before the EU’s MiCA transitional period closes, leaving Polish crypto firms in a regulatory limbo. Without the bill, local operators face uncertainty over whether they can continue to serve the market under any compliant framework before the deadline. cointelegraph_regulation

SEC’s plan to scrap Rule 611 could clear a major path for tokenised stock trading. Galaxy’s Alex Thorn argued that removing the order-protection rule would eliminate a structural barrier that has prevented tokenised equities from being traded on decentralised venues. The proposal is still at the planning stage, but it is the most concrete regulatory signal yet that the SEC is open to secondary-market DeFi activity in equities. cointelegraph_regulation

Y Combinator throws its weight behind the CLARITY Act. The accelerator, a backer of Coinbase, Stripe, Kalshi, and OpenAI among others, said it expects crypto to feature in every one of its portfolio companies if the act passes. The public endorsement adds mainstream Silicon Valley cover to what has largely been a crypto-native lobbying effort. theblock

What else is grinding?

• South Korea’s finance ministry classified tokenised stocks as securities rather than crypto assets, opening the door to capital-gains taxation as early as the second half of 2026. theblock
• Kalshi’s crypto perpetuals product is drawing regulatory scrutiny over whether the instruments qualify as futures or swaps, a classification gap with real enforcement consequences. coindesk
• LG Electronics is building a custom Arbitrum layer-2 for a blockchain-based advertising platform it expects to launch later this year. decrypt coindesk
• KuCoin has still not paid a Seychelles court-ordered $2 million award to a Swiss investor whose tokens were delisted without recourse, and the investor says he is preparing a further suit. cointelegraph_regulation
• US spot bitcoin ETFs are on the verge of crossing $2 trillion in cumulative trading volume, with BlackRock’s IBIT holding a 73.7% share of that total despite recent net outflows across the category. theblock
• VanEck has filed for a BNB ETF, arguing Binance’s chain has sufficient real-world usage to differentiate itself in a crowded crypto ETF pipeline. coindesk

Last sip. SBF’s pardon application sits on a desk in Washington, and no one is saying how long it will stay there.