Morning crypto market digest: gambling lobby against Polymarket, World Liberty receives banking license, Coinbase opens access to stocks
The digital asset market met the morning of June 17 in a sideways trend, but events unfolding on the institutional and regulatory fronts are setting the tone for a more interesting week. While major coins show restrained dynamics, key players are taking steps that could radically change the industry landscape.
Market in Numbers: BTC and ETH Without Sharp Movements
Bitcoin (BTC) started the day with consolidation. As of 07:44 Moscow time, the first cryptocurrency was trading around $65,858, setting a 24-hour low of $65,315 and a high of $66,928. Ether (ETH) is also showing sideways movement, hovering around $1,793. Among the top 10 by market cap, Hyperliquid stands out, gaining 7.25% in 24 hours and 31.58% over the week. The laggards were BNB, losing 0.78% for the day, and Tron, down 1.27% over seven days. Among the top 100, the 24-hour growth leader was SPX6900 (+24.74%), and the weekly leader was SKYAI (+154.46%). The largest losses were recorded by Audiera: -27.84% in 24 hours and -37.10% over the week.
US Gambling Industry vs. Prediction Markets
Major US gambling industry associations sent a letter to the Senate demanding a ban on sports and casino-like prediction markets as part of the upcoming crypto regulation bill. In their view, platforms like Polymarket and Kalshi have triggered the "largest expansion of the gambling industry in history" and disguise bets as regulated financial products. Lobbyists argue that the CFTC lacks both the expertise and infrastructure to oversee sports betting. The primary regulatory tool remains the Clarity Act, which has passed the banking committee and awaits a full House vote. Meanwhile, several states have filed lawsuits against Kalshi and Polymarket.
World Liberty Financial: A Step Toward a Federal License
The crypto project World Liberty Financial, affiliated with the Trump family, is one step away from obtaining a federal banking license as a national trust bank. According to insiders, OCC head Jonathan Gould is already prepared to announce the decision, which former agency employees describe as "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 decision is expected to intensify political debates over conflicts of interest: Trump and his family hold a significant stake in the project, and 75% of revenue from the WLFI token sale goes to a structure controlled by the president.
Coinbase: Now You Can Transfer Stock Portfolios
Crypto exchange 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 feature complements the stock and ETF trading launched earlier this year, covering around 6,000 securities. Users are offered commission-free trading, fractional shares, and up to 3.5% yield on USDC balances.
Analytical Commentary from Cryptalist: The consolidation of BTC and ETH at current levels is the calm before the storm. Regulatory battles over prediction markets and the acquisition of a banking license by a project linked to the presidential family are two signals indicating that the institutional integration of cryptocurrencies is entering a decisive phase. Coinbase, meanwhile, continues to blur the lines between traditional and digital finance. Investors should closely monitor developments this week.