Bitcoin and crypto staged their strongest rally in months as Treasury intervention, regulatory moves and a historic short squeeze collided, while banks and technology companies pushed deeper into stablecoins. 

Washington state is cut off for Kalshi customers while the company combats the development in court and its federal regulator keeps pursuing new rules. 

Fairmint CEO Joris Delanoue warns tokenized stocks risk recreating Wall Street’s 1960s paper crisis through fragmented systems and standards. 

The Sandbox disabled bridging on affected networks to isolate tokens and warned users not to trade SAND on Base and BNB, citing an impact of under 0.01% of supply. 

Treasury buybacks are not QE, analysts said, but the move helped pull long-term yields off 19-year highs and triggered a record short squeeze in a market already leaning too bearish.