Cryptocurrency News Makes History as Bitcoin Gets Fannie Mae Backing While Pepeto Outpaces ADA and XRP

The article says the CLARITY Act advanced in the U.S. Senate, with the Senate Banking Committee approving it 15–9 in May and placing it on the full Senate calendar June 1, according to CNBC. The bill would split crypto oversight between the SEC and CFTC and provide a framework for exchange listings. It also highlights Pepeto’s presale, citing $10.2 million raised and a stated Binance listing ahead, alongside price notes for ETH and XRP.

IonQ shares fell about 12.3% by 12:40 p.m. ET Friday, with no company-specific negative news cited (no earnings miss, analyst downgrade, or price-target cut). The article attributes the drop to a broader “risk-off” selloff in tech, alongside declines in Bitcoin, Nvidia, and Micron. It links investor caution to Broadcom’s warning that AI-chip sales will “only” triple in Q3.

U.S. stocks fell after a stronger-than-expected jobs report Friday. By 1:18 p.m. ET, the Nasdaq Composite was down nearly 3%, the S&P 500 fell 1.8%, and the Dow slipped 0.8%, with tech down 4.3% and defensives higher. May nonfarm payrolls rose 172,000 (vs. 86,000 expected) and unemployment held at 4.3%, prompting traders to price a quarter-point rate hike by end-2026.

Bitcoin fell nearly 15% this week to around $62,500, while Ethereum dropped more than 17% to its lowest level since April 2025, according to the article. It cites extreme “fear” (Crypto Fear & Greed index at 17), weaker spot volumes (CryptoQuant), rising liquidations (~$1.2B/24h, Coinglass), and crypto ETF outflows. A strong US jobs report reduced rate-cut expectations, per BeInCrypto.

Fundstrat’s Tom Lee told investors at a Paris conference that a “crypto spring” is already underway, citing potential oil-price declines from an Iran war ceasefire, Ethereum’s inverse correlation to oil, and reduced Ethereum Foundation holdings (down to ~0.1% of supply). He also cited Bitmine’s staking rewards, Russell 1000 inclusion (June 26), and tokenization/AI. He predicted ETH could reach $22,000 and Bitmine stock $500.

CME Group CEO Terry Duffy told a conference that U.S. regulators are creating systemic risk by approving perpetual crypto futures (“perps”), which he said typically use high leverage (often up to 50:1) and automatic liquidations. Reuters reports Coinbase and Kalshi plan to launch perps after CFTC approval. Duffy criticized the CFTC’s case-by-case process and said institutional demand is limited.