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In this edition of the Wayex Weekly Wrap, we break down the market chaos, celebrate key wins like the GENIUS Act, and check out what’s happening across Europe, Asia, and your crypto wallet.
Let’s dive in.
As the world delves into chaos, BITCOIN holds strong
As Australians, we’ve seen our fair share of catastrophes, floods, fires, and pandemics.
Once-in-a-lifetime events come around more often these days.
Odd, that.
And in case you missed the news, perhaps you're too busy buying canned food or building a bunker, we’re witnessing yet another major global moment, as Iran and Israel face off while the world watches with bated breath.
Politics aside, the market reacted as expected: a bloodbath. Investors flocked to traditional “safe” assets like treasury bonds, gold, and now BITCOIN.
Bitcoin has proven its resilience in global chaos as the little orange token that could.
As Cointelegraph noted, Bitcoin’s historical strength in the face of geopolitical instability is driven by consumer adoption and institutional investment. As Bitcoin continues to outpace inflation, institutions are seeking safe-haven assets, and it appears that some digital assets now have a seat at the table.
Top Gainers & Losers of the Week on Wayex
Top Gainers
- Jito (JTO): A$3.56 — up +8.0%
- Raydium (RAY): A$3.80 — up +7.0%
- Bitcoin Cash (BCH): A$705.62 — up +7.0%
Top Losers
- Arbitrum (ARB): A$0.4713 — down -23.4%
- Ether.fi (ETHFI): A$1.55 — down -20.8%
- Immutable (IMX): A$0.63 — down -20.7%
The GENIUS Act passes the Senate
We have talked about the GENIUS Act a lot in this newsletter, but it’s a BIG DEAL.
Although it is not yet law, it has passed its first legislative hurdle when the Senate overwhelmingly passed the GENIUS Act with bipartisan support.
We’ve noted before that this bill is aimed at establishing a federal regulatory framework and is being lauded by the crypto industry as game-changing. The law provides a more transparent legal framework for stablecoin issuers, outlining requirements for licensing, reserves, and oversight.
The market has reacted positively to this.
Listed cryptocurrency companies, such as Coinbase and Circle, saw their stock surge as a result of the news. Coinbase stock surged by 16%, with newly listed Circle gaining 34%.
The European Bank releases its market report.
The European Central Bank released its Financial Stability Review, which discussed macro and microeconomic risks in the economy.
Notably, for the first time, the report had detailed sections dedicated to crypto risks in the overall market. It discussed at length the relationship between crypto and traditional markets and how institutional adoption of crypto is introducing risks for both parties. In the report, they discussed the interconnectedness of crypto with conventional finance, market volatility and lack of transparency in crypto projects as a risk to both retail and institutional investors alike.
The report noted that Crypto assets reached an all-time high in 2024, led by US adoption and the introduction of ETFs. The European Union adopted the Markets in Crypto-Asset Regulation (MiCAR), which led to an increase in the number of registered crypto service providers. However, not everyone was a fan of MiCAR, with Tethered notably withdrawing its token from sale in Europe. Ultimately, the European Central Bank has stated that it has reduced some of the risks associated with the crypto trade in Europe, which makes them quite happy.
What is interesting about their analysis of the crypto market is that it represents a significant leap from their stance on crypto a few years ago. As reported by Noelle Acheson, in her newsletter this week, they referred to “crypto as the speculative corner of finance”.
Blockworks releases Transparency project
As noted in the European Central Bank’s Financial Stability Report, crypto projects can be volatile and, despite the transparency of the blockchain, can be shrouded in secrecy.
Blockworks argues that “this information gap breeds mistrust and misallocation of investor funds”.
To address the information gap, Blockworks has established the project in collaboration with Felipe Montealegre of Theia, Louis Thomazeau of L1D, and Cosmo Jiang of Pantera.
The Token Transparency Framework's vision is to provide potential investors with information about key aspects, including financial status, equity, token allocation, and any third-party affiliations. You can review the full criteria on the Blockworks website.
In their announcement, they mentioned meeting the SEC on June 13th to discuss the framework and working with token projects to use this disclosure framework.
Initial submissions include Jito, Aerodrome, Raydium, Stride, Jupiter, and Morpho, which utilise the 18-point criteria to provide investors with more information about the tokens, equity structure, and financial performance.
As they say, information is power.
Tron’s set for a Reverse Merger
Tron founder Justin Sun is taking the blockchain project public in the U.S. via a reverse merger with Nasdaq-listed SRM Entertainment, which will be renamed Tron Inc. The deal includes a $100 million USD investment to purchase TRX tokens, with the potential to reach $210 million USD.
This move follows the U.S. SEC pausing its fraud investigation into Sun earlier this year. The transaction is being facilitated by a Trump-affiliated firm, with Eric Trump reportedly taking an advisory role. The announcement sent SRM shares soaring over 500% and boosted TRX token prices.
Pump.fun banned from X (formerly Twitter)
Pump. Fun was banned from X, their founder and related accounts were briefly suspended on Twitter.
One user in particular noted that several accounts across the board were impacted.
Although no reason was provided for the suspension, speculation online suggested it was related to concerns about PUMP's trading activity.FUN and its founder.
However, the situation changed quite quickly with the introduction of the PUMP.FUN account was reactivated with a great response to the sudden suspension of their account.
Source:"https://x.com/pumpdotfun/status/1935029484681576650”
Vietnam Legalises Crypto, Thailand says “hold my beer”
Vietnam’s National Assembly passed a law legislating cryptocurrency, effective January 1, 2026.
Vietnam’s new legislation distinguishes between virtual and crypto assets without classifying them as securities or traditional financial instruments. While not a comprehensive regulatory framework, it signifies Vietnam’s interest in blockchain technology and AI and shows that its national interests are aligned with this sector.
Thailand, not to be outdone by its neighbour, has also implemented game-changing legislation in this space this week.
Thailand has approved a five-year tax exemption on capital gains from cryptocurrency sales made through licensed platforms, effective from January 1, 2025, to December 31, 2029.
What’s making us laugh this week?
Founder’s Corner
In a world where markets move on headlines and uncertainty feels constant, Bitcoin’s resilience shows us just how valuable it can be as an asset in a diversified portfolio. It’s not just about price, it’s about progress. Regulation is catching up with moves happening not just in the U.S. but the rest of the world, including Vietnam and Thailand. It is important to keep in mind the current global conflicts and to tread carefully.
These types of global events can trigger volatility across all markets, and it is important to stay vigilant and be prepared, even though these things can also present opportunities.
I am personally watching the headlines and taking the time to think about what might come next, as we have seen that it only takes one headline or social post to affect the global market.
Richard Voice
Founder, Wayex
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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.
