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A federal court in Michigan has ruled that sports-related prediction market betting does not fall under the jurisdiction of the Commodity Futures Trading Commission (CFTC), Decrypt reported. The U.S. District Court for the Western District of Michigan denied a preliminary injunction sought by Polymarket against state regulators. The case centers on a dispute where Michigan authorities claim Polymarket's sports prediction betting constitutes illegal sports trading, whereas Polymarket argues it should be treated as a swap product supervised by the CFTC at the federal level. In its decision to deny the injunction, the court expressed that Polymarket is unlikely to succeed in the main lawsuit.

Kentucky Attorney General Russell Coleman has sued prediction market platforms Kalshi and Polymarket for allegedly offering unlicensed sports betting services, CoinDesk reported. The move makes Kentucky the latest state to push back against the expanding prediction market industry. Like other states, Kentucky argues that these event contract-based platforms operate without the necessary state licenses. A statement also noted that related service providers such as Coinbase, Robinhood, and Webull do not offer support systems for gambling addiction.

According to CoinNess market monitoring, BTC has fallen below $64,000. BTC is trading at $63,960.03 on the Binance USDT market.

Binance founder Changpeng Zhao argued on X that countries should tokenize their domestic stocks to enable global investors to trade them. He added that nations should also issue their own stablecoins to enhance the utility of their national currencies on the blockchain.

Fidelity is set to launch the Fidelity Reserves Digital Fund, a money market fund (MMF) designed to manage the reserves of stablecoin issuers, today, June 18. According to CoinDesk, the fund is structured to meet the regulatory requirements of the ENIUS bill. The launch follows a similar move by State Street, which recently introduced its State Street Stablecoin Reserve Money Market Fund (SSCXX). The outlet noted that traditional financial firms are competing with increasing intensity for the stablecoin market, which has the potential to grow to a multi-trillion dollar scale.

MicroStrategy (MSTR) announced on its official X account that it can cover 32 years of dividend payments using its Bitcoin holdings. The company's perpetual preferred stock, STRC, closed below $90 on June 17, marking an all-time low.

The three major U.S. stock indices closed lower today. - S&P 500: -1.21% - Nasdaq: -1.34% - Dow Jones: -0.97%

FIFA is leveraging Avalanche (AVAX) blockchain technology to combat the scalping of World Cup tickets. This initiative follows a partnership last year where FIFA collaborated with Avalanche to build its own Layer 1 blockchain. According to CoinDesk, FIFA's Web3 digital collection platform, FIFA Collect, is now operating a new ticketing model with Avalanche and Modex to address issues like bots, ticket fraud, and price gouging. The system, built on the Avalanche Layer 1, assigns two functions to a set number of tickets: a Right to Buy (RTB) and a Right to Ticket (RTT). Buyers can acquire an RTB through FIFA Collect and trade it on a secondary market at market prices. Once used, the RTB converts into an RTT, which can then be used to purchase an official match ticket via FIFA's existing ticketing system.

Federal Reserve Chairman Kevin Warsh declined yesterday to say whether he has communicated with President Donald Trump since taking office last month. Speaking at a press conference, Warsh said he had no information to provide regarding questions about the president but confirmed he has met with Treasury Secretary Scott Bessent. Warsh added that the weekly meeting between the Fed chair and the Treasury secretary is a long-standing tradition. He said they have met three times so far, with this week being an exception as the secretary is currently overseas.

U.S. President Donald Trump said he is fine with the Federal Reserve's decision to hold interest rates steady, BlockBeats reported. He added that a future rate hike is a possibility.

According to CoinNess market monitoring, BTC has fallen below $65,000. BTC is trading at $64,996.01 on the Binance USDT market.

The price of spot gold has plunged 2.00% in intraday trading to $4,244.31 per ounce.

Federal Reserve Chairman Kevin Warsh stated at an FOMC press conference that no one within the Fed wants to raise interest rates in the short term. Responding to a question on whether current data supports a rate hike, Warsh said that not a single one of the 19 members present agreed with such an assessment. He added that the committee will reconvene in six weeks to revisit the issue.

Bitwise Chief Investment Officer (CIO) Matt Hougan has stated that the lines between traditional finance (TradFi) and cryptocurrency are starting to blur, U.Today reported. He pointed to Coinbase's recent announcement of its plan to transform into a comprehensive infrastructure provider by offering a product suite that includes stocks, derivatives, AI, and consumer finance. Hougan explained that with these changes, Coinbase could no longer be strictly considered a cryptocurrency company.

U.S. President Donald Trump stated that an agreement with Iran will be signed within the next 48 hours.

The U.S. and Iran have pledged to reach a final agreement on the text of a Memorandum of Understanding (MOU) within a 60-day negotiation period, Iran's state news agency reported. This deadline can be extended.

According to data from Coinglass, approximately $1.023 billion in cumulative short positions could be liquidated across major centralized exchanges if Bitcoin surpasses $68,639. Conversely, an estimated $1.009 billion in cumulative long positions face liquidation if the price drops below $62,127.

A spokesperson for the Iranian Foreign Ministry stated that the United States has promised to lift all types of sanctions against Iran through future negotiations, Iran's SNN News Agency reported.

According to CoinNess market monitoring, BTC has risen above $66,000. BTC is trading at $66,020.01 on the Binance USDT market.

Coinbase has announced it will support the migration of Injective (INJ) from July 20 to 22. The move comes as Injective prepares to launch its own EVM mainnet. Coinbase will facilitate the migration from the Ethereum-based (ERC-20) version of INJ to the new native, EVM-based token.

U.S. Federal Reserve Chairman Kevin Warsh said the 2% inflation rate is a long-standing goal of the central bank.

Federal Reserve Chairman Warsh stated that current inflation is significantly above the 2% target.

The probability of the Federal Reserve holding interest rates steady at its July meeting stands at 85.3%, according to the CME FedWatch Tool. The tool indicates a 14.4% chance of a 25 bp rate hike and a 0.3% chance of a 50 bp increase.

The CEO of asset management firm Strive stated on X that the company considers Bitcoin its minimum acceptable rate of return, or "Hurdle Rate." He analyzed that based on simple total return metrics, it will be difficult for investments in companies with Bitcoin-based businesses to outperform Bitcoin itself over the next 10 to 15 years. Despite this, he stressed the importance of supporting the Bitcoin network, calling Bitcoin Strive's most fundamental "Treasury Asset." He added that this asset management strategy includes helping Bitcoin-related companies grow and succeed. The CEO also noted that as the firm's balance sheet expands, it is worth considering investing a small portion of total assets into such companies to help drive the unique success of the Bitcoin ecosystem.

Nick Timiraos, often described as the Fed whisperer, analyzed the Federal Reserve's latest interest rate decision, noting that the new dot plot shows a distinctly hawkish stance. Of the 18 members, nine anticipate at least one rate hike this year, with six of them forecasting multiple increases. In contrast, only one member projected a rate cut. One member, presumed to be Fed Chair Walsh, did not submit a Summary of Economic Projections (SEP). Additionally, Timiraos pointed out that the Fed completely revamped its policy statement, significantly reducing its length. He concluded that the major changes to the communication framework from this meeting could lead to a recalibration of market expectations for the future path of interest rates.