Bitget Offers SpaceX Exposure Ahead of Planned $1.75 Trillion IPO

A Delhi man was arrested by India's Central Bureau of Investigation for his involvement in a transnational cybercrime operation targeting victims in the US and Canada. The CBI seized over $327,000 worth of crypto and uncovered tools used for fraud during coordinated raids in India.

Sandeep Nailwal has taken over as CEO of the Polygon Foundation, shifting the organization's focus towards the AggLayer cross-chain liquidity protocol. Polygon aims to "reclaim its position at the forefront of Web3" by delivering value to POL stakers and enhancing its PoS sidechain capabilities.

Payoneer has joined BitGo and Kraken as a distribution service provider for the FTX Recovery Trust and FTX Digital Markets, assisting in distributing payouts to retail customers of the defunct crypto exchange. According to a press release, Payoneer "will be available as a distribution service provider to customers for distributions to be processed after May 30, 2025."

Connecticut has passed a comprehensive law banning government entities from establishing Bitcoin reserves or accepting crypto payments. The legislation also includes strict consumer protection measures and overhauls money transmission statutes, setting a restrictive stance on crypto initiatives at the state level.

The Digital Asset Market Clarity Act has passed through two House committees, with bipartisan support, and is now set for a full floor vote. The bill aims to redefine crypto regulation in the U.S., shifting oversight powers from the SEC to the CFTC.

Six elite footballers, including World Cup winners and former Barcelona and Sevilla stars, are facing fraud allegations after a crypto company they promoted vanished with millions in investor funds. Barcelona's Fifth District Court has launched a criminal investigation into a crypto and NFT scheme allegedly fronted by a group of Spanish and Argentine businessmen, with promotional help from the players.

Bullish, a crypto exchange, has made a second attempt to go public by submitting paperwork for an initial public offering to the SEC. This follows a failed $9 billion merger in 2021 due to time constraints and market conditions. The move comes amidst a bullish trend in the crypto industry post-President Trump's election.

Bank of Korea Governor Rhee Chang-yong will meet with major commercial bank heads to discuss political pressure on issuing won-based stablecoins. The meeting, set for June 23 in Seoul, follows a proposal for a "Basic Digital Asset Act" allowing stablecoins and reducing capital requirements.

Bitcoin remained above $110,000, driven by institutional buying and anticipation of U.S. inflation data. Analysts predict a potential delay in rate cuts if inflation rises, impacting risk assets. Despite this, the market sentiment remains positive with ongoing institutional investments.

The State of Crypto report by Coinbase reveals that a majority of Fortune 500 companies are engaged in blockchain projects, with many increasing spending and viewing it as a strategic focus. Small and medium-sized businesses are also embracing blockchain to address financial challenges.