Bitcoin swung from nearly $73,000 to below $60,000 and later rebounded to around $63,500, stabilizing above $63,000 after its sharpest weekly slide in months. The week also featured Strategy’s sale of 32 BTC for about $2.5 million, while easing Iran-related fears, lower oil and a risk-on move in stocks helped lift major cryptocurrencies.

The Commodity and Futures Trading Commission sued New Mexico after the state tried to apply its gaming rules to Kalshi’s federally regulated event-contract markets. The state previously sought an injunction to stop Kalshi from offering sports-related contracts, while the CFTC is asking a federal court to confirm exclusive federal authority and block enforcement of preempted state laws.

Binance Wallet, Bybit and Bitget canceled SpaceX pre-IPO tokenized-share offers on Friday and issued refunds after xStocks could not obtain the underlying shares. Retail demand reportedly overwhelmed available allocations, with Bloomberg citing over $100 billion in retail orders and xStocks partners said to have collected more than $1 billion in customer interest. The episode highlighted that token issuance can function as designed, but sourcing and holding the real shares within required frameworks can still be the limiting factor.

After printing an all-time high of $75.51 on 02 June, Hyperliquid (HYPE) has pulled back 21.2% while Bitcoin slid from around $74K to below $59K. The trend structure on higher timeframes remains bullish, but key Fibonacci levels suggest HYPE could revisit $52.52 or $46.21, and potentially the $38.17 swing low. On shorter timeframes, a bounce may extend toward $63 before another leg down, with traders watching $65.78 as a nearby invalidation level.

MetaMask has expanded its Mastercard-backed crypto card across Latin America, adding support for 13 countries while the card remains available in Brazil and Argentina. The product automatically converts crypto from a user's wallet into local currency at checkout and offers 1% cashback paid in mUSD. The rollout follows MetaMask's 2024 pilot and a nationwide U.S. launch announced in February.

XRP appears to have stabilized near $1.15, but a weekly-chart comparison suggests the market could remain range-bound for roughly 800 days, potentially stretching to late 2027. The analysis points to a repeat of a 2022-style volatility squeeze, with price projected to oscillate between $1.15 and $2.00 before any larger trend resumes.

Bitwise said Bitcoin often reacts first to tightening liquidity, describing BTC as a “canary in the macro coal mine” as broader risk assets show strain. BTC fell 1.2% on the day and faced another potential retest of $60,000 support, while Glassnode data showed XRP’s 90-day average network fees down 91.5% to 500 XRP from 5,900 XRP. Separately, Ether futures open interest on Binance reached a record 3.7 million ETH even as ETH remained down 44% in 2026.

A coalition of U.S. state attorneys general served OpenAI with a broad subpoena on Friday, June 12, seeking records on advertising, user interactions, data handling, and how its products are used by children and older users. The multi-state probe, led by New York's attorney general, adds to mounting state scrutiny and could pressure OpenAI to adjust ChatGPT's safety and privacy practices as it approaches an IPO timeline discussed for September.