Morning Crypto Market Digest: Regulatory Battles, Trump's Banking Move, and New Coinbase Opportunities — June 17
While the market consolidated, regulatory and institutional agendas set the tone for a new day. US gambling giants have turned against prediction markets, the Trump family's crypto project is poised to obtain a federal banking license, and Coinbase is transforming into a full-fledged brokerage service. We break down the key events of the morning of June 17.
Market Picture: Sideways Movement Among Leaders
Bitcoin (BTC) started the day in sideways movement. As of 07:44 Moscow time, the asset is trading at $65,858, with a 24-hour low of $65,315 and a high of $66,928. Ether (ETH) is also showing consolidation at the $1,793 level.
In the top 10 by market cap, Hyperliquid stands out: a 7.25% increase over the day and an impressive 31.58% over the week. The worst performer for the day is BNB (-0.78%), and for the week, Tron (-1.27%). In the top 100, the 24-hour growth leader is SPX6900 (+24.74%), and the weekly leader is SKYAI (+154.46%). The largest losses over the day and week were recorded by Audiera (-27.84% and -37.10%, respectively).
Gambling Industry vs. Prediction Markets
The largest associations 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. In their view, platforms like Polymarket have triggered the "largest expansion of the gambling industry in US history," disguising bets as regulated financial products. The letter's authors claim that the CFTC lacks both the expertise and infrastructure to oversee sports betting. The main regulatory tool remains the Clarity Act, which has already passed the Senate Banking Committee and awaits a vote by the full chamber. Simultaneously, several states have filed lawsuits against Kalshi and Polymarket.
World Liberty Financial: Banking License Almost in Hand
The crypto project linked to the Trump family is one step away from obtaining a federal banking license as a national trust bank. OCC head Jonathan Gould, according to insiders, is ready to announce a decision on the application soon. Former agency employees call approval "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. Given that 75% of revenue from the sale of the WLFI token goes to a structure controlled by the president, approval will inevitably intensify political debates over conflicts of interest.
Coinbase: Now You Can Transfer Stock Portfolios
Coinbase has taken another step toward becoming a full-fledged financial super service. The platform now allows users to transfer existing stock portfolios from other brokerage firms via the ACATS system—without needing to sell assets. This innovation 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% annual yield on USDC balances.
My Analysis: The market is entering a phase where regulatory decisions will determine not only price dynamics but also the very structure of the industry. Lawsuits against Polymarket and the potential banking license for World Liberty are signals that investors cannot ignore. Coinbase, meanwhile, continues to blur the lines between TradFi and DeFi, which in the long term could become the main driver of mass adoption.