BTC falls below $66,000, down 1.28% in 24 hours

2026-06-17 by admin

According to Shenchao TechFlow news on June 17, HTX market data shows that BTC has fallen below $66,000, currently at $65,993.33, with a 24-hour drop of 1.28%.

PANews reported on June 17 that, according to The Block, a bipartisan group of lawmakers led by Senator Cynthia Lummis has written to the Treasury Department requesting the preservation of states' power to regulate stablecoins under the GENIUS Act. This act allows stablecoin issuers with a market capitalization not exceeding $10 billion to be regulated by states, provided that state-level rules are "substantially similar" to federal rules. In April, the Treasury Department released proposed rules outlining broad principles for determining whether state-level regulations are "substantially similar," but did not specify a timeline or standards for state-level regulation. In their letter, senators stated that the lack of clarity "creates uncertainty for states," and therefore requested the Treasury Department to issue guidance clarifying the application, review, and certification processes for state-level systems. The New York State Department of Financial Services introduced formal rules last week to align its stablecoin framework with the GENIUS Act.

PANews reported on June 17th that, according to The Block, activity on Pump.fun, the once dominant meme coin launch platform on Solana, continues to deteriorate, with token graduation rates, revenue, and network fees all declining sharply. The 7-day average Pump.fun token graduation rate dropped to 0.26% last week, a decrease of 80% in three months. Daily revenue in June was only about $800,000, far below the $4.8 million six months ago. The PUMP token has fallen 40% over the past six months. The decline of Pump.fun has impacted the Solana network, with daily fees dropping to 5,300 SOL in June, significantly lower than the 33,000 SOL in January. Analysts believe that a large amount of capital previously invested in the Solana meme has shifted to perpetual contract trading on Hyperliquid, consistent with the rapid growth of HIP-3.