Crypto Chronicles: War, Gold, and the Rise of Fartcoin! 💰🚀

In the grand theater of crypto, this week unfolded like a tragicomedy, with the specter of war between Iran and Israel casting a long shadow. The GENIUS Act stablecoin bill waltzed through a successful cloture vote, while Ripple‘s aspirations soared higher than a kite in a storm. And oh, what a week it was!

Coinbase, ever the opportunist, added three new assets to its repertoire, while the US CPI report revealed inflation creeping up like a cat burglar in the night. All these juicy tidbits and more await you at BeInCrypto.

Iran-Israel War Tension Bleeds the Crypto Market

Ah, the geopolitical stage! A place where crypto prices dance to the tune of missiles and drones. Just yesterday, Israel decided to play the role of the aggressor, launching a surprise attack on Iran’s leaders and nuclear sites. The crypto market, in a fit of panic, lost over $1 billion. Talk about a dramatic turn of events!

Today, Iran retaliated with drones and missiles, escalating the crisis further. Who knew crypto could be so… explosive? 💥

In the aftermath, Ethereum took a nosedive of over 10%. Solana, XRP, and Pi Network joined the pity party, all suffering significant losses. Yet, amidst the chaos, a few brave altcoins defied the bearish tide, while US-related crypto stocks displayed a mixed bag of results. Global oil prices are soaring, threatening to squeeze the energy-hungry mining industry. Who needs a soap opera when you have this?

Gold prices surge above $3450/oz and now stand less than 2% away from a new all-time high.

Gold is currently up nearly 30% year-to-date.

Keep watching gold.

— The Kobeissi Letter (@KobeissiLetter) June 13, 2025

In the end, we find ourselves in a swirling tempest of uncertainty and volatility, where the global financial markets, including crypto, are left to navigate the stormy seas.

GENIUS Act Passes Cloture Vote

In a twist worthy of a political thriller, the GENIUS Act, a cornerstone of US crypto regulation, passed a cloture vote in the Senate this week. Despite facing a few hurdles, new amendments aimed at securing Democratic support have emerged like a phoenix from the ashes.

The cloture vote was a resounding success, ensuring these amendments will be woven into the final bill, which is poised to become law soon. Fingers crossed, right?

However, due to the labyrinthine nature of Senate procedures, predicting when the GENIUS Act will advance is akin to reading tea leaves. Kirsten Gillibrand, a pro-crypto Democratic Senator, expressed her reservations about President Trump’s involvement in the crypto circus, yet ultimately argued that the bill is a boon for the US. What a tangled web we weave!

Ripple Aims High With Ripple Ledger

This week, Ripple’s CEO Brad Garlinghouse took the stage at the XRP Ledger Apex 2025 in Singapore, unveiling a vision so bold it could make even the most seasoned optimist blush. He claimed that the XRPL could capture 14% of SWIFT’s global liquidity in the next five years. Ambitious, much?

“SWIFT today has two components—messaging and liquidity,” Garlinghouse proclaimed. “Liquidity is owned by banks. I think less about the messaging and more about liquidity. If you’re driving all the liquidity, it’s good for XRP. So, in five years, I’d say 14%.”

While this goal may seem lofty, Garlinghouse believes that integration with traditional finance institutions is the golden key. This week, Ripple also partnered with Circle to bring USDC to the XRP Ledger, enhancing crypto’s visibility and utility for a diverse audience. Who knew crypto could be so inclusive?

Coinbase Lists Three Tokens

In a move that could only be described as a masterstroke, Coinbase, one of the world’s largest crypto exchanges, listed three new tokens this week. The assets in question—PancakeSwap (CAKE), Subsquid (SQD), and the ever-hilarious Fartcoin—performed admirably afterward. Yes, you read that right, Fartcoin! 😂

SQD even reached a new all-time high after the listing announcement, signaling its newfound prominence:

This stellar performance showcases Coinbase’s uncanny ability to elevate projects’ notoriety with token listings. The three assets, though largely unrelated—a DEX, an AI agent token, and a meme coin—each posted significant gains. Who knew diversity could be so profitable?

Coinbase also unveiled several new products at its Crypto Summit 2025, including a shiny new credit card in partnership with American Express and the launch of perpetual futures trading in the US. Because why not add more chaos to the mix?

CPI Report Shows Increasing Inflation

Finally, the much-anticipated CPI report graced us with its presence this week, naturally sending ripples through the crypto market. Inflation in the US ticked upward, igniting market greed and boosting the price of Bitcoin and other assets. Because who doesn’t love a little inflation to spice things up?

This signal could serve as a recession indicator, but fear not! Bitcoin remains a store of value during these turbulent times. Economic experts are predicting trouble, and tensions are rising between President Trump and Fed Chair Jerome Powell. Buckle up, folks; it’s going to be a bumpy ride!

As always, BeInCrypto stands ready to monitor any developments and keep its readers informed. Stay tuned for more twists and turns in this wild crypto saga!

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2025-06-14 10:42