US-Iran ceasefire, BTC up 3.5% — don't relax yet.

US-Iran interim peace deal. BTC hit a two-week high. Oil slid. But Trump warned of further strikes — and two prior ceasefires already collapsed. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Monday, June 15, 2026   An interim US-Iran peace deal announced Sunday sent bitcoin to a two-week high above $65,500 and pulled the geopolitical premium out of oil, which slid sharply on the news that the Strait of Hormuz is set to reopen. Strategy and Galaxy both advanced in pre-market. But crypto traders are holding the optimism loosely: the April ceasefire collapsed within weeks, and US strikes broke a second truce on June 9 — both times, BTC gave back the entire move. This week adds the Fed rate decision and the formal ceasefire signing on June 19 as the next two tests. Read today’s full report → Market snapshot As of 8am EST Asset Price 24h BTC $65,524 +3.48% ETH $1,862 +3.10% SOL $82.74 +2.90% XRP $1.22 +3.40% Prices approximate. Visit coindesk.com/price for live data. What matters today Week Ahead   Story 1 of 3 Middle East ceasefire deal, Fed rate decision: the two events that will define this week for crypto. Sunday’s interim US-Iran peace deal — with the formal signing expected June 19 and the Strait of Hormuz set to reopen — removes the largest single macro headwind that has weighed on crypto since February. BTC jumped nearly 3.5% to above $65,500 on the news, Strategy and Galaxy advanced in pre-market, and oil slid sharply. But the pattern here is two prior ceasefires: April’s collapsed within weeks, and US strikes broke a second truce as recently as June 9, with BTC giving back the entire move both times. The market is treating this as cautiously optimistic rather than categorically resolved. The second catalyst is the Fed rate decision this week — widely expected to hold — with Fed Chair Warsh’s press conference the real variable. Any dovish signal on the rate path would compound the geopolitical relief and give the recovery real legs. The formal ceasefire signing June 19 and the ARB token unlock June 16 ($7.76M) are the other key dates on the calendar. Read more → Geopolitics   Story 2 of 3 Bitcoin is not fully out of danger. Trump has warned of further Iran strikes if the deal breaks down. Even as markets celebrate the interim peace deal, Trump has publicly warned that the US is prepared to resume strikes if Iran violates the terms of the ceasefire agreement — a warning that reflects how fragile the diplomatic progress remains. The track record in this conflict is two failed truces: the April ceasefire collapsed and US strikes broke a second one on June 9, both times erasing BTC’s gains in full within days. The formal agreement signing is scheduled for June 19, and the Strait of Hormuz remains partially contested until the physical reopening is confirmed. Crypto traders have learned to distinguish between a ceasefire announcement and a ceasefire holding — and the options market is pricing residual tail risk accordingly, with BTC implied volatility still elevated relative to the calm in spot prices. The week’s price action will hinge on whether the geopolitical relief can be sustained through the signing date without a fresh incident. Read more → Policy   Story 3 of 3 Trump’s stablecoin was used to pay out bonuses at a White House UFC contest. USD1 — the stablecoin issued by World Liberty Financial, the DeFi project backed by the Trump family — was used to distribute bonus payouts to winners of a UFC contest held at the White House. The disclosure marks the first documented mainstream consumer use case for a Trump-linked stablecoin, and it arrives at a moment when Congress is still deliberating the GENIUS Act — the stablecoin regulatory framework — with Trump in a position to sign it into law. The conflict-of-interest dimension is impossible to ignore: the sitting president is simultaneously advocating for stablecoin legislation, financially benefiting from a stablecoin issuer, and now deploying that stablecoin through White House events. Proponents say it demonstrates real utility; critics say it is precisely the kind of presidential self-dealing the GENIUS Act’s ethics provisions were designed to address. Read more → CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets. L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal. Crypto Daybook Americas: A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here.  Copyright © 2026 CoinDesk, All rights reserved.  CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York, NY 10011, USA Unsubscribe Manage preferences

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TGIF! (unless you're SBF)

SBF's appeal is denied — 25 years stands. Kalshi's crypto perps spark a futures-vs-swaps fight. And bitcoin holds $63K in choppy trading. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Friday, June 12, 2026 FTX's Sam Bankman-Fried loses appeal of criminal conviction on fraud, conspiracy charges A unanimous three-judge panel of the Second Circuit Court of Appeals denied Sam Bankman-Fried's bid to overturn his conviction on Friday, upholding all seven counts of fraud and conspiracy and his 25-year prison sentence. The court rejected every argument Bankman-Fried's lawyers advanced — that Judge Kaplan improperly excluded evidence that FTX could have covered customer withdrawals, that the trial was procedurally unfair, and that rulings on cross-examination and evidence presentation prejudiced the defense. The panel's language was blunt: prosecutors' evidence "was, conservatively stated, robust," and the court ruled that fraud occurred the moment Bankman-Fried transferred customer funds to Alameda Research, regardless of his stated intentions to return them. "While he was publicly reassuring customers, investors and regulators that FTX customer funds were safe, he was simultaneously using FTX as his own personal piggy bank," Circuit Judge Barrington Parker wrote. The ruling comes the same week Bankman-Fried submitted a clemency petition to the DOJ's Office of the Pardon Attorney — requesting a presidential pardon from Trump, who has publicly said he will not grant it. A separate motion for a new trial, filed pro se and denied by Judge Kaplan in April as a "reputation-rescue plan," is also exhausted. The 25-year sentence stands. Read the full story → A message from Bitso Business Stablecoin Conference 2026 by Bitso Business is coming on June 15–16 at the World Trade Center in Mexico City. The event will bring together over 2,500 executives, policymakers, regulators, developers and financial infrastructure leaders from 50 countries to discuss the future of digital money, cross-border payments and financial modernization. Participants include White House officials, Mexican regulators and policymakers, as well as executives from Tether, Visa, Mastercard, Fireblocks, Bridge, Stellar and other leading global organizations. Learn more → Policy Kalshi's crypto perpetuals spark debate over whether they're futures or swaps When the CFTC approved Kalshi's BTCPERP contract on May 29 — the first regulated crypto perpetual future in the U.S. — it classified the product as a future rather than a swap. That distinction matters enormously: futures fall under CFTC oversight via Designated Contract Markets, while swaps trigger a separate regulatory regime under the Dodd-Frank Act with different capital, clearing, and reporting requirements. Critics argue that perpetuals are structurally closer to swaps — they have no expiration date, use funding rates to track spot prices, and behave like the offshore instruments long regulated as swaps in other jurisdictions. The CFTC's own procedural paper trail shows Kalshi submitted BTCPERP under Regulation 40.3 voluntary approval rather than self-certification, suggesting the Commission engaged substantively with the classification question. The debate has real stakes: if future courts or a different CFTC majority classify perps as swaps, the entire regulatory framework for onshore crypto perpetuals — and Kalshi's $178 billion annualized trading volume — would need to be rebuilt from scratch. Read more → Markets Bitcoin in volatile trading above $63,000, DOGE unchanged Bitcoin is trading above $63,000 Friday in choppy, rangebound conditions as the market consolidates ahead of next week's FOMC meeting on June 16–17. The token has held its 200-week moving average through the week — the technical floor that defined prior cycle lows — while most altcoins remain deep in the red. DOGE is essentially flat on the day. Bitfinex margin longs have surpassed 90,000 BTC for the first time since November 2023, a sign of growing conviction among leveraged traders that the worst of the selling is done. The constructive path for bulls requires inflation to soften further, Treasury yields to stabilize, and ETF outflows — which have totaled $5.7 billion over the past four weeks — to slow meaningfully. The FOMC is the week's defining event: Warsh's tone on rate trajectory will determine whether BTC grinds back toward $68–72K or breaks below $60K for the first time in this cycle. Read live updates → Know someone who should be reading this? Share this newsletter See all of CoinDesk’s newsletters    CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York,NY,10011,USA, Unsubscribe Manage Preferences   Copyright © 2026 CoinDesk, All rights reserved.

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🚨 Crypto crimes get too big to ignore

Congress wants a crypto theft task force. Core CPI came in soft and bitcoin bounced. And Saylor and Mallers had it out on stage in Prague. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Thursday, June 11, 2026 U.S. House bill would erect crypto theft task force across law enforcement agencies A bipartisan House bill introduced Wednesday would establish a multi-agency crypto theft task force under the U.S. Attorney General — coordinating the DOJ, Secret Service, FBI, and relevant state and local law enforcement to take the lead on cryptocurrency theft cases. The legislation arrives as North Korea's Lazarus Group has accounted for 76% of all crypto losses in 2026, the $292 million Kelp DAO exploit remains the year's largest DeFi hack, and six-month social engineering campaigns — rather than smart contract bugs — have emerged as the dominant attack vector. Current enforcement is fragmented across agencies that lack shared data-sharing infrastructure, making attribution and prosecution slow. The bill would formalize coordination, mandate information sharing, and establish a direct reporting chain to the AG. It represents the law enforcement dimension of the same regulatory push that has produced the CLARITY Act and GENIUS Act — an acknowledgment that the sector has grown large enough that its crime problem requires dedicated federal infrastructure. Read the full story → Keynote sponsored by ChangeNOW Why your GTM strategy is killing your crypto opportunity You built the product. You have the users. So why isn't it converting? For most crypto platforms, the answer is a broken go-to-market strategy — not the technology. Watch ChangeNOW's keynote to learn how to turn your existing user base into a revenue stream. Watch now → Markets Soft core inflation gave crypto a bounce — but only bitcoin held up on the week May headline CPI rose 0.5% month-over-month and 4.2% year-over-year — the fastest annual pace since early 2023 — driven almost entirely by energy prices as Iran-related supply disruptions pushed oil higher. But core CPI, which strips out food and energy, came in at just 0.2% versus the 0.3% consensus estimate. That one soft data point was enough to lift bitcoin roughly 1.9% to $62,600, leading all majors. The relief is shallow and concentrated: BTC is down less than 1% on the week and is holding its 200-week moving average — the technical floor that defined every prior cycle bottom. ETH, SOL, and most large altcoins remain down 6–8% on the week. The Fear and Greed Index sits at 9 — deep extreme fear, down from 48 just a month ago. All eyes now turn to the FOMC on June 16–17, where Warsh's tone will determine whether bitcoin grinds toward $68–72K or breaks below $60K for the first time in this cycle. Read live updates → Markets Michael Saylor and Jack Mallers go toe-to-toe over Strategy's bitcoin reporting metrics At BTC Prague on Wednesday, Strategy's Michael Saylor and XXI Capital's Jack Mallers debated on stage how investors should evaluate Strategy's increasingly complex capital structure. The flashpoint was mNAV: Mallers asked whether Strategy's $6.7 billion in out-of-the-money convertible debt should be included in the calculation — a question that meaningfully changes the company's apparent premium to net asset value depending on methodology. Saylor argued mNAV is just one framework among several, and that gross assets per share and net assets per share are equally valid approaches. Mallers also pushed on dilution, asking for an example of a dilutive transaction if issuing equity for cash never counts as one. Saylor held that issuing equity for cash or bitcoin adds tangible assets and thus is not inherently dilutive. The back-and-forth continues a debate that started publicly this week after bitcoin advocate Matthew Kratter showed Strategy's own BTC Yield metric declined after its latest purchase — with Saylor's mNAV defense now extended to a live stage confrontation with the CEO of his most visible rival. Read more → Know someone who should be reading this? Share this newsletter See all of CoinDesk’s newsletters    CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York,NY,10011,USA, Unsubscribe Manage Preferences   Copyright © 2026 CoinDesk, All rights reserved.

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