Plus: SEC calls it quits on Binance case

GM. Squeezed the day’s headlines so hard we broke a blender. What’s left? Pulp, seeds, and the charts.

🔒 Protecting your online presence.

⚖️ SEC updates.

🍋 News drops: Ross Ulbricht's speech, Bitcoiners getting VIP access at the Panama Canal + more

🍍 Market flavor today

Crypto Market Cap: $3.33T -2.11% (24H)
Name		Price	24H	7D
	Bitcoin BTC	$105,536.26	-1.24%	-3.56%
	Ethereum ETH	$2,604.65	-1.26%	1.20%
	XRP XRP	$2.19	-3.41%	-7.52%
	BNB BNB	$670.03	-1.25%	-0.28%
	Solana SOL	$161.58	-4.58%	-11.22%

Investor sentiment downgraded to Neutral today, and the charts aren't looking too happy either.

Bitcoin ETFs were doing great for 11 whole days… and then hit the slipping on a banana peel move - $346.8M in outflows yesterday.

BlackRock's IBIT was the only survivor that dodged it.

Why the slump? Say it with us: tariffs (again).

The US Court of International Trade ruled that Donald Trump overreached his authority when he used an emergency law to impose tariffs on pretty much the entire planet.

According to the court, only Congress has the power to regulate international trade.

However, the White House is appealing the decision, and while that drags on, the tariffs stay.

Next stop: a court hearing on June 5. Depending on how that goes, this whole thing might head to the Supreme Court.

But even if Trump loses there, don’t assume it’s game over for tariffs:

• The president can still impose tariffs of up to 15% for 150 days if there's a trade emergency;

• He could revive other laws he used during his first term - including tariffs justified by national security risks or unfair trade practices;

• There’s also an obscure clause from a 1930 trade law that lets a president impose 50% tariffs on countries that "discriminate" against the US.

So yeah, it's a mess, and the markets aren't vibing with it, so you can expect more volatility.

Or you can try to help: 🤠

And just to make things more fun…

Trader Daan Crypto pulled up with a reminder that June is usually a rough month for crypto - second only to September for worst returns.

Why? Summer. People go on vacation, trading slows down, liquidity dries up, and markets become choppy.

If there’s no clear trend - like a steady upward or downward direction - prices are likely to bounce around within a tight range.

So, stay wary. And hydrated, always.

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🥝 Memecoin harvest

These memecoins didn’t just pump, they ascended 🌌

Data as of 06:45 AM EST.

Check out these memecoins and plenty more here.

🍳 SEC's kitchen

Over the past few years, the SEC was going after crypto about as often (and annoyingly) as those calls about your car’s extended warranty.

This year, tho'? Whole different vibe.

They've already done a lot to go from being crypto's #1 hater to an agency that actually supports this industry. Quick recap:

• Canceled SAB 121;

• Launched a dedicated Crypto Task Force to figure out how to regulate crypto - properly;

• Withdrew a bunch of lawsuits against crypto companies;

• Confirmed memecoins aren’t securities;

• Gave broker-dealers the approval to custody both crypto securities and non-securities;

• Said they want to make it easier for companies to issue, trade, and settle tokenized securities.

And they’re not done. Here’s what they’ve been cooking lately:

1/ Case closed

The SEC's dropping their lawsuit against Binance - one of the last big crypto cases still standing from the Biden-era crackdown.

The filing says that the agency’s new Crypto Task Force could help resolve cases like this, and that dropping it was the right decision based on current policy.

Also worth noting: they want the case dismissed with prejudice, which means the SEC can’t bring it back.

2/ Staking ≠ securities

Proof-of-Stake (PoS) networks need people to stake their tokens to help run the network. Do it right, and you earn rewards - usually new tokens or a cut of transaction fees.

And the SEC used to argue that this looked suspiciously like investing in a security.

Why? Because users aren't running the network themselves - they're giving their tokens to someone else and expecting to earn money without doing anything.

But that was in the past.

Now, the SEC is saying that staking usually isn’t a securities offering.

If you’re staking directly, you’re doing the work. You’re helping the network and earning rewards for it.

That’s not the same as buying a stock and waiting for the price to go up.

The takeaway: rest easier, crypto people and companies.

You’re no longer at risk of getting sued just for mumbling “crypto” in your sleep.

In fact, with all the changes, there’s a decent chance you’ll actually thrive in the new regulatory environment.

Hopefully.

🍋 News drops

🤝 Ross Ulbricht, who once faced life in prison, spoke at the Bitcoin 2025 conference. He thanked the crypto community for supporting him through it all.

😳 A tech company in the Philippines called Funnull got sanctioned by the US. They've been accused of helping build thousands of crypto scam sites.

🚢 Panama City’s mayor, Mayer Mizrachi, has a wild idea: let ships pay in Bitcoin to skip the line at the Panama Canal.

💰 Reform UK is now taking donations in crypto. Nigel Farage said loads of Brits - especially younger people - own crypto, so this is their way of keeping up with the times.

🚓 Two NYC cops have been taken off regular duty while investigators check if they were connected to a recent kidnapping. A man from Manhattan allegedly kidnapped an Italian tourist, locked him in a townhouse, and tried to steal his crypto.

🍌 Juicy memes