"Bill banning Fed USDC heads to House" Jun 23, 2026

The US Senate passed the 21st Century Road to Housing Act in an 85-5 vote, with House Republicans attaching language that bans the Federal Reserve from issuing a CBDC or any substantially similar digital asset until December 31, 2030. The anti-CBDC provision was added as part of a bipartisan bicameral deal reached the week prior and is an unusual attachment to housing legislation. The bill now heads to the House for a floor vote and aligns with the Trump administration's stated position that a US CBDC is off the table, with digital asset policy attention directed instead toward market structure through the Clarity Act.

HUD 8 agreed to pay $2.3 million to settle a proposed securities class action tied to its 2023 all-stock merger with US Bitcoin Corp, though the company denies wrongdoing and the settlement still requires court approval. The case covered investors who bought securities between February 13, 2023 and January 18, 2024, and centered on claims that merger materials failed to properly disclose energy and internet infrastructure risks at King Mountain, a Texas Bitcoin mining joint venture in which USBTC held a 50% stake. A short seller report from J Capital Research published on January 18, 2024 alleged problems with the deal and King Mountain, and HUD 8 shares fell more than 23% that day. A judge dismissed broader exchange act claims and claims tied to USBTC's financial condition, leaving only securities act claims around the alleged King Mountain omissions.

Trump signed two executive orders addressing quantum computing threats. The first requires federal agencies to migrate high-value assets to approved post-quantum cryptography, with key establishment protections due by end of 2030 and digital signature protections by end of 2031. The orders target the harvest now decrypt later threat model, in which adversaries collect encrypted US data today and break it once large-scale quantum computers become available. Coinbase's Quantum Advisory Board has warned that around 7 million bitcoins sit in potentially exposed addresses, and Bitcoin, Ethereum, XRP, and Tron are already exploring ways to reduce quantum risk. The second order focuses on building the US quantum industry through an updated national strategy, stronger supply chains, workforce training, and at least three next-generation quantum sensor projects.

Thorchain resumed trading after being offline for more than five weeks following a May 15th exploit that drained approximately $10 million from one of its five vaults. The protocol stated that signing, churning, liquidity provider actions, and swaps are all live again following what it described as a security-first recovery process.

ARK Invest bought approximately $32 million worth of SpaceX shares across four ETFs, purchasing 210,121 shares as the stock dropped 16%. Hyperliquid's SPCX futures saw $1.4 billion in first-day volume, peaking at $1.6 billion on June 16th before declining sharply to $43 million by June 21st, illustrating how quickly speculative interest in the futures product faded after its initial launch.