.png)
Another week, another wave of big moves across the global crypto landscape. From Washington to Seoul, decentralised finance is having a very real, very regulatory moment.
Let’s dive in.
US and China Trade Deal
Trump policies are making headlines across Australia and abroad.
But let’s not get carried away — it’s time to check the block-bottom line.
Ignoring my terrible joke for a moment, let’s talk trade.
Because what’s quietly brewing behind the headlines is a positive step on trade between US and China in a trade deal which is touted as “done” by President Trump.
This revelation is something which both Barry and I are enjoying (clearly).
It comes as Donald Trump and President Xi have reached an in-principle trade agreement, which effectively reverses the imposition of tariffs.
This agreement would allow China to resume exporting rare earth minerals to the US and ease restrictions on Chinese student visas. Not bad for a week’s work.
Despite Trump’s assertion of it being “done” we may wait for the ink to dry on this one.
Top Gainers & Losers of the Week
In this week’s Wayex Weekly market wrap, Kaia (KAIA) leads the top gainers with an impressive 58.3% surge, followed by Uniswap (UNI) at +30.0% and Maker (MKR) at +14.6%. On the downside, Jupiter (JUP) dropped by 10.4%, MANTRA (OM) fell 7.8%, and DeXe (DEXE) slipped 6.6%. Market volatility continues to shape trading behavior as sentiment stays strong.
As of June 12, 2025, the CMC Crypto Fear & Greed Index shows a reading of 61, indicating a sentiment of Greed in the market. Investors are leaning toward optimism, suggesting increased confidence and buying activity.
The Genius Act - it's about stablecoins
For the last few months, the cryptocurrency world has been abuzz with legislation moving through the US Federal Congress.
The Guiding and Establishing National Innovation for US Stablecoins, aka the (GENIUS) Act has passed the Senate. The law was proposed by the Trump Administration and is supported by the Republican majority in Congress.
This means that the legislation is expected to pass easily.
But, before we start popping bottles of champagne, it is essential to note that U.S. federal and state laws often conflict on key issues of trade and commerce, including financial regulation.
Although the US Federal government is all in on crypto and states like California are discussing laws to accept crypto payment for government services, it's not always so welcoming to the crypto community. For example, Connecticut has just passed a law banning state involvement in crypto.
It's promo time!
We’re launching the Wayex Weekend Crypto Rush for our users, running every weekend in June.
It's super simple: make a crypto transaction of $50 or more, and you could score $50 back in your favourite token (T&Cs apply).
DeFi & the American Spirit
Let’s be honest: The relationship between the SEC and the crypto industry has historically been… tense. (If I weren’t being diplomatic, I’d say more.)
As loyal readers of this newsletter will know, pro-crypto regulation has been ramping up under the Trump White House—fast.
At a recent crypto roundtable with Coindesk, the SEC Chairman, Paul Atkins, even compared crypto rights to fundamental property rights that should not be suspended because of “someone logging in online”. They tweeted:
South Korea’s President Follows Through
As a seasoned political sceptic, I’ve learnt not to get my hopes up when leaders promise bold change. If you're anything like me, you know the feeling.
But in South Korea, something rare just happened: the newly elected President Lee Jae-myung) is delivering on his campaign promises, including pro-crypto regulation.
On Tuesday, Lee’s Democratic Party introduced the Digital Asset Basic Act — a proposed regulatory framework aimed at enhancing transparency in the cryptocurrency sector and increasing competition.
Under the legislation, South Korean companies would be allowed to issue stablecoins provided they meet the treasury and licensing requirements of the federal financial regulator.
An exhilarating time for the 15 million crypto users in South Korea!
Plasma Goes Wild
Plasma, a new blockchain backed by prominent figures such as Peter Thiel and the CEO of Tether, launched its ICO via Cobie’s Sonar platform.
The goal was to raise $50 million by selling 10% of its total token supply which was done, very, very easily.
But not everyone’s thrilled.
According to Cryptopotato, “the top 10 wallets contributed approximately 40% of the total funds, with one investor alone depositing the maximum of $50 million.
The average wallet size was around $450,000, and reports indicate that one participant spent up to $100,000 in gas fees to secure their allocation”.
Bullish Files for a Secret IPO
Peter Thiel just can't stay out of the headlines - or our inbox. Crypto exchange Bullish has reported for a condidential public offering (IPO) in the US.
If Thiel weren’t already a billionaire, we’d say being mentioned twice in our blog might be the highlight of his week (insert laughing emoji)
Bullish had previously tried to go IPO in 2021, but ultimately decided against it.
However, it seems the Trump administration’s more crypto-friendly stance, including the SEC dropping several investigations, has reignited Bullish’s IPO dreams.
The company has not officially commented, and Reuters has not independently confirmed the IPO filing.
What’s making us laugh this week?
New to Wayex?
If you’ve been with us for less than 30 days, don’t forget — you’ve got 30 days of fee-free trading. Keep stacking those sats and levelling up your crypto game.
Founder’s Corner
From Washington to Seoul, this week’s crypto news paints a clear picture: we’re no longer in the hype cycle — we’re in the building era.
"This week’s crypto headlines show just how fast the space is evolving — from regulatory moves to meme coin momentum, the market’s no longer just reacting, it’s shaping the future. As builders, we’re here for the long game — and that means staying agile, transparent, and focused on delivering real value."
Andrew Grech, Founder
Enjoyed the Wrap?
Share it with friends or family. When they join Wayex using your referral link, you’ll both earn $10 in Bitcoin after their first trade. They’ll also get the first month fee-free!
Until next time,
The Wayex Team
**All information in this article is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained herein shall constitute a solicitation, recommendation, endorsement, or offer by CryptoSpend to invest, buy, or sell any coins, tokens, or other crypto assets. Any descriptions of CryptoSpend products or features are merely for illustrative purposes. Past performance is not a guarantee or predictor of future performance. The value of crypto assets can increase or decrease, and you could lose all or a substantial amount of your purchase price. It is essential for you to do your research and due diligence to make the best possible judgement, as any purchases shall be your sole responsibility.
