Market on pause, Trump pushes into banks, and Coinbase becomes a broker: digest of June 17
The market is frozen in anticipation. Bitcoin and Ethereum are showing sideways movement, while regulatory battles are heating up. The US gambling lobby is attacking prediction markets, the Trump family crypto project is preparing to obtain a federal banking license, and Coinbase is transforming into a universal broker. Let's break down the key events of the morning of June 17.
Market Dynamics: BTC and ETH in Consolidation
As of 07:44 Moscow time, Bitcoin (BTC) is trading in a narrow range around $65,858. Over 24 hours, the asset fluctuated between $65,315 and $66,928, indicating low volatility and indecision among market participants. Ethereum (ETH) is also showing no activity, holding steady at $1,793.
Among the top 10 by market cap, Hyperliquid stands out with a daily gain of +7.25% and a weekly gain of +31.58%. The worst performer over 24 hours is BNB (-0.78%), and over the week, Tron (-1.27%). Among the top 100, SPX6900 leads (+24.74% in 24 hours) and SKYAI (+154.46% over the week). Audiera suffers the biggest losses: -27.84% daily and -37.10% over seven days.
Gambling Lobby vs. Prediction Markets
Representatives of the US gambling industry have sent a letter to the Senate demanding a ban on sports and casino-like prediction markets as part of the upcoming crypto regulation bill. They claim such platforms have sparked the "largest expansion of the gambling industry in US history," disguising bets as regulated financial products. In their view, the Commodity Futures Trading Commission (CFTC) lacks both the expertise and infrastructure to oversee sports betting.
The primary regulatory tool remains the Clarity Act, which has already passed the Senate Banking Committee and awaits a full floor vote. Against this backdrop, several states have filed lawsuits against Kalshi and Polymarket. Pressure on the prediction market sector is mounting, which could significantly impact their legality in the US.
Trump and the Federal Banking License
The World Liberty Financial crypto project, linked to Donald Trump's family, is close to obtaining a federal banking license as a national trust bank. According to insiders, Office of the Comptroller of the Currency (OCC) head Jonathan Gould will soon announce the decision, and approval is "virtually guaranteed."
The license would allow World Liberty to independently issue and redeem the USD1 stablecoin, manage reserves, and store digital assets under a single federal regulator—without intermediaries. This event will inevitably intensify political debates over conflicts of interest: Trump and his family hold a significant stake in the project, and 75% of revenue from WLFI token sales goes to a structure controlled by the president.
Coinbase: A Step Toward Universal Finance
Coinbase has announced the ability to transfer existing stock portfolios from other brokerage firms to its platform. The transfer is carried out through the ACATS system without the need to sell assets. This complements the stock and ETF trading launched earlier this year, covering approximately 6,000 securities.
Users are offered commission-free trading, fractional shares, and up to 3.5% rewards on USDC balances. This expansion of functionality turns the crypto exchange into a full-fledged financial service, blurring the lines between traditional and digital markets.
Analyst's Opinion: The market is in an accumulation phase. The sideways movement of BTC and ETH is not weakness, but preparation for the next move. Regulatory news, especially the Trump project obtaining a banking license, could become catalysts. Watch the $68,000 level for BTC—its breakout will open the path to new highs. For now—patience and cool calculation.