Nansen

California Governor Gavin Newsom signed AB 2409, barring state public officials from issuing memecoins tied to personalities, jokes or viral trends. The measure was approved alongside bills targeting corruption, consumer protection and cryptocurrency-related crime.

Bitcoin and ether remain locked in a narrow range ahead of the July U.S. consumer price index release, but derivatives and on-chain signals show traders preparing for movement. Options demand, exchange outflows and guarded short exposure point to a market that is cautiously optimistic yet alert to a possible volatility spike.

Bitcoin is under pressure from geopolitical risk, but options markets now price South Korea’s Kospi as far more volatile than BTC. The shift highlights how the unwind in AI-linked equities is reshaping global risk perceptions while crypto traders watch Washington for regulatory signals.