Based on Tiger Research's report, this article explores the evolution of the crypto industry from experiment to industrial formation, focusing on US regulatory breakthroughs (GENIUS Act, SEC/CFTC joint guidance) and the construction of Internet Capital Markets (ICM). Using Solana as a case study, it details real-world institutional practices from J.P. Morgan, State Street, Western Union, and others, highlighting how atomic settlement and Token-2022 compliance standards reduce costs. It also provides a strategic framework for Asian institutions across executable, transitional, and exploratory phases, emphasizing the critical window before standards solidify.

Bitcoin's decline has provided gold bull Peter Schiff with ample arguments to maintain his view—this leading crypto asset has dropped about 24% over the past month. Eight months ago, on October 6, 2025, Bitcoin stood above the $126,000 mark, but now its trading price has dropped about 52% from that peak. Of course, Schiff has questioned Bitcoin's value proposition and its long-term viability for years.

Bitcoin plunged 19% over 7 days, reaching $59,100 This round of declines continues the previous heavy sell-off, causing Bitcoin to fall 19.3% in seven days, 22.2% in the past two weeks, and 26.8% in the past month. Over the past year, prices have dropped by 42.3%. The current trading range of $59,000 to $60,000 has pushed Bitcoin's price well below the $71,000 level seen just four days ago (June 1).

The expansion of Ripple's stablecoin is driving RLUSD across multiple blockchain ecosystems On June 4, Ripple announced on the X platform that its USD-pegged stablecoin Ripple USD (RLUSD) can now be used through Wormhole's native token transfer (NTT) feature to enable native cross-chain transfers between different blockchain ecosystems. This update strengthens RLUSD's position in cross-border payments, institutional deposit/withdrawal channels, and tokenization, while also providing developers and institutions with broader compliant USD liquidity access channels. The announcement expands the application scope of RLUSD in blockchain finance. Ripple stated that the stablecoin can be natively circulated through Wormhole's NTT framework, opening more avenues for payment flow, tokenization projects, and institutional liquidity management. This expansion will enhance RLUSD's practical value for organizations operating across multiple blockchain ecosystems. Ripple statement:

The Senate faces pressure over the CLARITY Act, intensifying debates over cryptocurrency regulation As the Blockchain Association states that 160 former professionals in national security, intelligence, and law enforcement support this cryptocurrency market structure bill, pressure in Washington around the CLARITY Act is mounting. In a letter dated June 2 to Senate Majority Leader John Thune (Republican-South Dakota) and Senate Democratic Leader Chuck Schumer (Democrat-New York), the signatories viewed digital asset regulation as a national security issue. The Blockchain Association posted on the X platform: "Today, we sent a letter signed by 160 former professionals in national security, intelligence, and law enforcement to Senate Majority Leader Thorne and Senate Democratic Leader Schumer in support of the CLARITY Act."