Your Weekend Crypto Roundup | June 2025 (Week 2)

Contents

Hey there!

Just like that, week two of June is over, and crypto headlines didn’t disappoint. Congressman Timmons is pressing the SEC for clarity on Ethereum’s legal status. Connecticut banned state crypto investments, and Argentina’s president got cleared in the LIBRA memecoin probe. Add Singapore’s crackdown, a Bitcoin ETF record, and a wild kidnapping arrest, and you’ve got a week to remember.

There’s a lot to unpack, so hit the subscribe button and stay plugged in. Let’s dive in!

Biggest Story

Rep. William Timmons Demands SEC Clarity on Ethereum’s Legal Status

Republican Congressman William Timmons is urging the SEC to provide internal documents clarifying its shifting stance on Ethereum (ETH). In a letter dated June 10, Timmons criticised the agency’s inconsistent approach under Chair Gary Gensler and highlighted the confusion caused by its refusal to classify ETH definitively. He specifically requested records showing how the SEC’s position has evolved, referencing the contrast between past statements, such as William Hinman’s 2018 claim that ETH is not a security, and more recent ambiguity.

Timmons also revealed that the SEC quietly closed an investigation into ETH’s classification in early 2025, just before approving spot Ether ETFs, a move suggesting ETH is not a security. His letter follows Coinbase’s successful FOIA lawsuit against the SEC, which forced the agency to release thousands of documents. Some of these showed that federal prosecutors had previously requested the SEC’s stance on ETH but received no response, further underscoring the agency’s opacity.

Other News Making Waves

French police have arrested more suspects in the kidnapping of a crypto entrepreneur’s father, whose finger was severed in a €7M ransom plot. (More)
Connecticut has become the first U.S. state to ban government investments in cryptocurrency, citing volatility and a lack of regulation. The law, effective immediately, prohibits state agencies and pension funds from holding digital assets, such as Bitcoin. (More)
Spanish authorities are investigating a $3.4 million crypto Ponzi scheme involving elite footballers who were misled into investing. While the players aren’t accused of fraud, their involvement lent credibility to the scam that duped many investors. (More)
India’s CBI has busted a transnational cybercrime ring, seizing $327K in crypto tied to phishing and fraud schemes. The agency worked with global partners to trace stolen funds through Bitcoin and Ethereum wallets. (More)
The SEC, led by Chair Paul Atkins, has proposed an “innovation exemption” to give conditional regulatory relief for blockchain firms, supporting DeFi development while upholding investor protection. (More)
BlackRock’s iShares Bitcoin Trust (IBIT) has become the fastest ETF to exceed $70B in assets, reaching the milestone in just 341 days, with 661,457 BTC under management. (More)
Five men have pleaded guilty in a $36.9M crypto scam that tricked U.S. citizens and laundered funds through Tether to Cambodia-based fraud centers. (More)
Argentina’s Anti-Corruption Office has cleared President Javier Milei of wrongdoing over his endorsement of the LIBRA memecoin, deeming it a personal act, although a separate court probe is ongoing. (More)
Cathie Wood says Bitcoin’s continued outperformance against gold signals a bullish, “risk-on” market, crediting Bitcoin’s resilience and Trump-era regulatory clarity for boosting crypto momentum. (More)

Around the World: Bold Moves and Crypto Regulations

Singapore’s MAS has ordered all unlicensed crypto exchanges to cease operations by June 30, citing enforcement under the Payment Services Act. Bitget and Bybit are preparing to relocate staff, while ChainArgos warns the directive is tantamount to an “evacuation.” (More)
The Czech Republic replaced Justice Minister Pavel Blažek with Eva Decroix after backlash over his acceptance of a $45M Bitcoin donation from a convicted criminal. The government seeks to restore public trust ahead of the October elections. (More)
Ukraine has introduced draft legislation that would allow its central bank to hold Bitcoin as part of its national reserves. The move signals growing state interest in integrating crypto into national financial infrastructure. (More)
The U.S. House Financial Services Committee has approved the Digital Asset Market Clarity (CLARITY) Act, advancing a comprehensive crypto regulation bill to the full House. (More)
South Korea’s Democratic Party has proposed the Digital Asset Basic Act, legalizing won-pegged stablecoins issued by local firms under strict oversight. The move aims to retain capital and reduce reliance on foreign stablecoins, such as USDT and USDC. (More)

Market Trends: Winners and Losers

Top 5 Gainers 📈

According to data from CoinGecko, the five biggest gainers of the week are:

Aura +18,728.5%, from $0.00089133 to $0.167808
Useless Coin +386.2%, from $0.00853973 to $0.04150863
TAGGER +146.8%, from $0.00012262 to $0.00030267
The Arena +88.4%, from $0.01119879 to $0.02109506
Stronghold +84.3%, from $0.00782835 to $0.01443755

Top 5 Losers 📉

According to data from CoinGecko, the five biggest losers of the week are:

Central African Republic Meme -36.3%, from $0.084252 to $0.053708
Hamster Kombat -51.1%, from $0.00200247 to $0.00097947
Incrypt -46.8%, from $0.02361030 to $0.01256041
Mask Network -23.0%, from $1.91 to $1.47
Lagrange -35.8%, from $1.30 to $0.835035

Project Spotlight

L1 Launches On-Chain Hedge Fund Access for Accredited Investors

Wealth management platform L1 has launched tokenized, on-chain investment strategies from top crypto-native hedge funds like Fasanara Digital, FalconX, and Bastion Trading. Designed for accredited investors, the platform eliminates traditional barriers, including million-dollar minimums and complex onboarding, by utilising smart contract vaults and zero-knowledge identity verification. Investors can complete KYC instantly, subscribe in minutes, and receive tokenized shares directly to their wallets. A built-in portfolio tool enables diversified allocation across digital assets.

Why It Matters:
L1 democratizes hedge fund access, merging DeFi usability with institutional-grade investing to modernise and expand wealth management.

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence.

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