US CBDC Ban Extended to 2030, Bitcoin ETFs Add $10M as $41M in Leverage Liquidated

Crypto News

US House and Senate leaders have reached agreement on the 21st Century Road to Housing Act, a measure that would bar the Federal Reserve from issuing a central bank digital currency until December 31, 2030. The compromise text, which also restricts institutional investors from buying single-family rental homes, preserves a CBDC prohibition that cleared the Senate in March and the House in May. Lawmakers carved out an exception for dollar-pegged stablecoins. A final House vote is expected after the chamber returns from recess on June 23. The clause aligns Congress with President Trump's January 2025 executive order banning federal CBDC work.

Leverage came under pressure across the market over the past 24 hours, with roughly $41.35 million in positions forcibly closed. Long liquidations accounted for about $24.82 million, or 60 percent of the total, against $16.53 million in shorts, underscoring downside momentum. Bitcoin led with around $15.7 million liquidated, followed by Dogecoin at $12.2 million, Zcash at $7.3 million and Avalanche at $5.24 million. Binance absorbed roughly 52 percent of the four-hour total. The flush hit altcoins unevenly, with Avalanche short liquidations dominating despite a 4.3 percent decline, a pattern consistent with a broader bear market tone.

US spot Bitcoin exchange-traded funds extended their inflow streak on June 16, drawing a net $10.06 million, according to on-chain and fund-flow data. BlackRock's IBIT again led with $16.35 million in subscriptions, lifting its cumulative net intake to roughly $62.19 billion. Separately, World Liberty Financial, the crypto venture backed by the Trump family, is reportedly poised to receive a federal trust bank charter from the Office of the Comptroller of the Currency. Approval would let the firm issue and redeem its USD1 stablecoin, manage reserves and custody digital assets under a single federal supervisor, reducing reliance on its current intermediary, BitGo.

Telegram founder Pavel Durov escalated a dispute over India's temporary block of the messaging app, accusing Reliance Industries of using BGP hijacking to disrupt access well beyond India's borders. Authorities restricted the platform ahead of a June 21 medical-entrance exam retest, citing leaked materials circulating in Telegram channels, and the company has challenged the order in the Delhi High Court. Durov said the week-long ban affects more than 150 million Indian users while doing little to stop the actual leakers. He claimed users in the UAE were also affected and urged network operators to reject Reliance's routing announcements. Reliance has not publicly responded.

Databricks used its Data and AI Summit in San Francisco to unveil a real-time lakehouse architecture aimed at autonomous AI agents, intensifying its rivalry with Snowflake. The centerpiece lets agents read operational and analytical data from a single stored copy, while a new compute engine sustains millisecond responses even when thousands of agents query simultaneously. Chief executive Ali Ghodsi argued that artificial general intelligence has effectively arrived, framing the challenge as embedding AI into real workflows rather than raising raw model capability. The company also announced the acquisition of AI security firm Panther Labs, whose customers include Anthropic, to bolster enterprise threat detection.

Korea Housing Finance Corporation priced a £500 million (roughly 1 trillion won) social covered bond, the first sterling-denominated social covered bond from a domestic institution. The three-year floating-rate note carries a coupon of SONIA plus 0.510 percentage points, or 3.953 percent, with proceeds earmarked for housing-welfare programs. Investor demand was broadly distributed: banks took 43 percent, asset managers 38 percent, central banks and official institutions 10 percent, and insurers and pension funds the remainder. The deal diversifies the issuer's currency mix away from dollar and won funding and signals deeper global appetite for socially labeled public-sector debt amid volatile rate markets.

Taken together, these developments trace a market splitting along two lines: tightening US policy clarity on one side and fragile risk appetite on the other. COINOTAG's aggregate data captures the tension—our Fear and Greed Index sits at 22, deep in Extreme Fear, even as Bitcoin dominance holds near 69.7 percent and total crypto market capitalization rests around $1.89 trillion, signaling capital huddling in majors over altcoins. The CBDC ban and World Liberty's pending charter point to a framework increasingly favoring private stablecoins, while the $41 million leverage flush against steady ETF inflows shows institutions accumulating as leveraged traders capitulate—a divergence that often precedes a recovery from an all-time-high drawdown.