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60% of EU users could be affected ahead of MiCA’s July compliance deadline 

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60% of EU users could be affected ahead of MiCA’s July compliance deadline 


Over half of E.U crypto users could be affected ahead of the MiCA (Market in Crypto Assets) transitional period deadline on 1 July. In fact, according to researcher Alex Obchakevich, about 60% of EU users who use unlicensed crypto platforms could be locked out.

MiCA EU
Source: Obchakevich Research (As of May, 2026)

Only 194 crypto firms (6.5%) have been licensed as of May 2026. Consequently, over 2800 firms have no license, according to data aggregated from ESMA (European Securities and Markets Authority). 

That’s not all though. He also noted that these unlicensed platforms account for nearly half of app downloads. 

60% of users still use unlicensed platforms, and 7.6 out of 18.5 million app downloads were for these platforms. Users are advised to urgently check the ESMA registry to avoid having their accounts blocked.

The researcher warned that after the 1 July deadline, all unlicensed exchanges, brokers, and wallets will not be able to serve EU users. 

EU crypto framework – From a patchwork to unified rules

In December 2024, MiCA began its application with an 18-month transition period that officially ends on 01 July. 

MiCA offers a single, unified licensing framework for exchanges, custodians, and lending platforms serving users in the EU. area. Before MiCA, the region had a patchwork of crypto regimes across each country. 

During the transition period, also known as the ‘grandfathering phase,’ member states could choose to allow already approved firms to continue operating under the local regimes as they apply for a MiCA license. 

Country-wise, Germany leads with 55 MiCA licenses, followed by the Netherlands at 29. France closes the top list with 19 licensed firms.

Notably, stablecoin rules became live on 30 June 2024, and then full crypto asset service providers (CASP) followed later in December. However, with the grace period ending in two weeks, the 6.5% conversion rate to a full MiCA license revealed a low compliance rate. 

That said, since MiCA went live, tokenization has emerged as a new segment that was not addressed in the original framework. 

To address tokenization, stablecoins, and other policy issues raised against the initial framework, the European Commission has opened a review on 1 June. It will last until 31 August 2026. 

Commenting on the update, law firm Latham & Watkins LLP said, 

The scope of the Consultation reflects the Commission’s ambition to establish a coherent supervisory framework for activities that have so far remained unregulated or only partially addressed.

According to the law firm, the review will lead to MiCA amendments. However, whether the review will improve the low rate of licensed crypto firms remains to be seen. 


Final Summary

  • Germany had the highest MiCA-compliant and licensed crypto firms ahead of the 1 July deadline 
  • The MiCA framework is currently under review to address other segments, like tokenization, that were not fully covered. 

 



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How Is Weyerhaeuser’s Stock Performance Compared to Other Real Estate Stocks?

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How Is Weyerhaeuser's Stock Performance Compared to Other Real Estate Stocks?


Image by Jakub Zerdzicki via Unsplash

With a market cap of $17.9 billion, Weyerhaeuser Company (WY) is one of the world’s largest private owners of timberlands, managing more than 10 million acres of sustainably managed forests across the United States and additional licensed timberlands in Canada. It has built a long-standing reputation as a global leader in sustainable forestry, managing all its timberlands in accordance with internationally recognized sustainability standards. 

Companies valued at $10 billion or more are generally considered “large-cap” stocks, and Weyerhaeuser fits this criterion perfectly. In addition to timberland management, Weyerhaeuser is a leading North American wood products manufacturer, with diversified operations in product distribution, climate solutions, real estate, energy, and natural resources, generating $6.9 billion in net sales in 2025.

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Shares of the Seattle, United States-based company have declined 10.2% from its 52-week high of $27.75. WY stock has risen 6.3% over the past three months, lagging behind the State Street Real Estate Select Sector SPDR ETF’s (XLRE) 7% gain over the same time frame. 

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WY stock is up 5.2% on a YTD basis, underperforming XLRE’s 12.1% increase. Moreover, shares of the REIT have decreased nearly 7% over the past 52 weeks, compared to XLRE’s nearly 8% return over the same time frame.

Yet, the stock has been moving above its 200-day moving average since December 2025. 

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Despite reporting better-than-expected Q1 2026 adjusted EPS of $0.11 on Apr. 30, shares of Weyerhaeuser fell 2.2% the next day, with adjusted EBITDA dropping to $308 million. Investors were also cautious about forward guidance, as Q2 performance in key segments like Timberlands and Wood Products is expected to be largely comparable to Q1, while Strategic Land Solutions EBITDA is projected to decline by about $70 million due to the absence of a large transaction.

In comparison, rival Equinix, Inc. (EQIX) has outpaced WY stock. EQIX stock has returned 39.2% on a YTD basis and 19.5% over the past 52 weeks.

Despite the stock’s underperformance, analysts remain moderately optimistic on WY. The stock has a consensus rating of “Moderate Buy” from 13 analysts in coverage, and the mean price target of $31.18 represents a premium of 25.3% to current levels.  

On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Barchart.com



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Binance says its European regulatory application is compliant despite report of Greek rejection

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Binance says its European regulatory application is compliant despite report of Greek rejection

Binance, the world’s largest cryptocurrency exchange, may be unable to serve customers in Europe if its regulatory license application in Greece is turned down, as Reuters reported on Tuesday.

Binance’s Markets in Crypto Assets (MiCA) license application, which has to be approved by a deadline at the end of this month, is going to be rejected by the Greek financial watchdog Hellenic Capital Market Commission (HCMC), according to the report, which cited two people familiar with the situation.

Binance said it has been pursuing a MiCA license over the past 18 months, including through a comprehensive application process with the HCMC in Greece.

“Our understanding is that the HCMC completed its review of the application and considered it compliant with MiCA requirements, and that the application was also reviewed at ESMA level,” a Binance spokesman told CoinDesk via email.

The spokesman also said that “HCMC informed ESMA that it was their view that the application was compliant and that they intended to progress the licence and move to authorise at an upcoming Board meeting.”



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SpaceX just took Palantir’s top spot with one of the most excessive valuation multiples in megacap tech

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SpaceX just took Palantir's top spot with one of the most excessive valuation multiples in megacap tech


Step aside, Palantir (PLTR), there’s a new valuation multiple king in the megacap tech stock town: SpaceX (SPCX).

The insight: With its scorching-hot debut on public markets now in the books, SpaceX is trading on a trailing 12-month price-to-sales ratio of 110 times, compared to 63 times for Palantir, which has long been viewed as the most richly valued megacap tech play in the game.

For perspective on how optimistic investors are about SpaceX, the price-to-sales ratio for the S&P 500 (^GSPC) is 3.5 times. Even AI darling Nvidia (NVDA) clocks in with a ratio of 20 times.

The price-to-sales ratio is a valuation metric calculated by dividing a company’s market capitalization (or share price) by its total revenue. It shows how much investors are willing to pay for each dollar of sales.

As a general rule of thumb, a price-to-sales ratio below two is often considered attractive or potentially undervalued. But the metric varies by industry — high-growth tech or software companies frequently trade at much higher multiples (5x-10x or more) due to expected strong future growth.

SpaceX also trades at a 2x premium to Palantir on a trailing price-to-book ratio basis.

Quick analysis: The Elon Musk-led rocket company SpaceX officially priced its stock at $135 on June 11, offering 555.6 million shares. The pricing valued SpaceX at $1.78 trillion.

SpaceX made its historic public debut on the Nasdaq on June 12, when the stock officially opened for trading around midday at $150 per share.

Driven by heavy demand from both institutional and retail investors, the stock steadily climbed throughout the session before closing its first day at $160.95.

This successful 19.2% gain from its initial offering price instantly catapulted SpaceX to a massive $2.1 trillion market capitalization, according to Yahoo Finance AlphaSpace.

SpaceX stock rose another 10% to $178 on Monday in its second day of trading.

Bottom line: At SpaceX’s current price-to-sales ratio, investors are betting Elon Musk hits all his goals for the company in the coming years. That includes driving more sales from Starlink, doing business on Mars, and winning larger pieces of the government contract pie.

Early SpaceX investor Ron Baron said over the weekend that the company could go on to become worth “$10 trillion, $20 trillion or $30 trillion.”

Whether Musk achieves this mission — and drives the market cap toward Barron’s bullish call — is anyone’s guess. But we will note that Palantir has managed to grow into its valuation amid strings of impressive top-line quarters since going public in 2020. The path has been cut for SpaceX to do the same.



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A Film And A Love Letter To Aviation

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A Film And A Love Letter To Aviation


When I sat down to talk with the cinematographer, Paul de Lumen, and costume designer, Camille Jumelle, of Propeller One-Way Night Coach, one of the first things I asked was about the tone and aesthetic for the film. Available to stream through Apple, the hour-long film was written and directed by John Travolta, and is based on his novella of the same name.

I knew the family friendly film was based on a book written by the director, and I’d seen that book before. It’s a text-based fable written for all audiences, perhaps especially older children, and though it is not a picture book, it does sometimes include pictures, by both the author and the book’s official illustrator, Anson Downes. I wanted to know what came from the book and what was unique to the film.

“At least from my point of view,” cinematographer Paul de Lumen explained to me, “I looked at Gordon’s Jet Flight, the Golden Book, those children’s books with the gold backing on them. The shot of Jeff and his grandma and mom in the front seat of the car, I feel is directly inspired by that book. And I had talked about that book with John, and we wanted this to feel, in essence, kind of like a children’s book and the film is all from Jeff’s point of view.”

When I had watched the film, I’d noticed how it felt like we were looking at the mother from Jeff’s perspective, and when the frame included Jeff there as well he is seen the same way. Those moments felt like memories, like a way to visually describe how the storyteller was literally looking back over his own experiences in a fictional past. Looking up at mom, the way we do when we are smaller than her, seeing the archetype from the view usually only seen by little kids, it really helped this story come alive. It helped me to buy into the story and it felt like an elegant way to convince the audience to do exactly that.

“When I read the story,” de Lumen said, “I heard John’s voice, like for the voiceovers. I could really feel the nostalgia and the love and affection for his mom through the words. It’s from his point of view, I actually measured from his point of view so that I could film from Jeff’s eye height. The actor, Clark, who did a wonderful job, I tried to always match his eyeline. Because he’s a child he had to do school, so we’d have eight hours with him, but four had to be spent in school. So we’d do all of the shots of him first so we could wrap them out, then we’d shoot everything he was looking at. So his mom, the pilots, any characters, the camera became his point of view. And the audience saw this little adventure through his eyes. And we always wanted to stay true with that. We didn’t have a shot in another room because it would have been something Jeff didn’t see. I felt like that was a good example of staying true to our visual language, which is just point of view, but in the end I felt it really served the audience, both in terms of empathizing with the adventure and also enhancing the magic and curiosity.”

Back When Air Travel Was Elegant

The costume designer was ready to get to work almost immediately, and that was lucky as it turned out she was going to have to make all the stewardess costumes they needed for the film.

“I flew back to LA,” Jumelle said, “I hit the costume houses, and I started to do my research. And it’s period, 1962. And so what happened was, we either didn’t have enough of them or the sizes were too small. I was fortunate enough to find four vintage stewardess uniforms in that powder blue circa 1962 that we needed, but I had to totally rebuild them. Then, for the jet age, so that the newness and color would come through, I needed to make those too as there was just nothing out there. I made them all, and also the uniforms for the ticket agents, all those uniforms and all the patches. That was a big undertaking.”

I could see hints of iconic, mid-century elegance in the ladies who steward the skies, so I asked her if there was a specific someone who had inspired the ladies in uniform.

“My muse was Elizabeth Taylor,” the costume designer shared, “and also Grace Kelly. Those are the two iconic women that spoke out to me. And I had the pleasure of meeting Prince Albert in Cannes with John, and I told them that his mother was a muse for the film. And he was very lovely about that.”

The fancy part, and the production’s dedication to recreating it, really matters, it is a vital part of the look and feel we all associate to these years when we see them on screen.

When Jeff (Clark Shotwell) and his mother Helen, (Kelly Eviston-Quinnett) take their cross-continental journey, the speed with which a person could leave Los Angeles and Arrive in New York were slower than they are today, but they were still a nearly miraculous improvement to previous options. We all know that airline travel used to be a more glamorous experience, but the difference in aesthetic between then and now is never as clear as when it is shown large onscreen in the flat modernity of the 1960s.

This made everyone’s clothing feel more important, knowing that no matter who I chose to look at they would be era appropriate, dressed up to fly in the clothes they wear when going somewhere special. It especially made Helen’s costumes matter, they feature importantly into quite a few important moments of this story, and I was very curious to know about how all of that came together.

“I made that,” costume designer Camille Jumelle shared. “I had about two rolling racks of women’s coats and two rolling racks of men’s coats. We tried a few coats and things and then I said I should make it. right away it was a time crunch. I ran to my fabric shop in LA, got a wool and cashmere blend. For a costume designer, everything is about the fabric, the fit and finish. That was an expensive coat to make, but it really made the film.”

“To your credit,” de Lumen added, “when we were doing the color timing session, usually, in the end, I have to adjust a lot of things color-wise. But John and I were so happy with what we got from that day on the stage. It was very minimal adjustments because of your hard work and your discerning taste. Like, it really showed up on the screen. And what we captured with the lighting was perfect.”

“I always cross my fingers,” Jumelle replied with a grin, “I always want to make my DP and my director proud.”

Inspired By Aviation History

To make sure that the film didn’t lose any of the book’s magic, and to maintain the level of the standards of the project’s department heads, there were times and places where absolute historic accuracy was sacrificed when to do so would serve the film. Like when the costume designer was choosing the color of the uniforms that the steardesses would wear.

“My color palette had to be exact,” Jumelle told me, “the whole movie, there is no color that is going to jar you. I had to keep it in a proper hue balance, and I’m very tough on myself with that. I was very accurate with the design. It’s exact because I actually purchased a Don Loper jacket, 1962, and reconstructed it and made a muslin. My seamstress, Cheryl and I were at it for hours. But I went back and I said to John, ‘Believe it or not, the uniforms were brown.”

Beginning in 1959, Pan Am’s uniforms were designed by Hollywood costume designer Don Loper (1906-1972); a tailored wool suit jacket and matching pencil skirt, with either a box or kick pleat venting the back, and a custom designed cap with jaunty white piping. The name of the airline’s blue was Tunis, and it was given in honor of the woman who had selected it, Elizabeth Tunis, the airline’s first chief stewardess. Loper did TWA’s uniforms too, a little later than he began to design them for Pan Am, and perhaps the drab brown look was part of the reason why.

“Our stewardesses needed to be seen,” Jumelle said. “I didn’t think brown would work, it would have looked muddy. Even TWA got rid of that right away. And we both looked at each other, e didn’t want that. So we discussed how, for the color palette, we were going to take that powder blue, TWA, Pan Am color that everyone knows, and use that. Then for the jet age, just go brighter, because right after that, the uniforms went back to that blue.”

Framing, Perspective & Composition

I try really hard not to read much about a film or series before I see it as someone else’s perspective isn’t always helpful. I went into watching this one knowing only what I’d gleaned from the preview and poster art, and long before the credits rolled I was dying to know how the actual filming of this movie had happened.

This is a film which benefits from its use of practical effects, which are essential in-camera illusions created with real physical objects and materials instead of later making those changes to the film during digital post-production. And while there are many things that digital does do easier or more efficiently, physical making almost always adds to a production an intangible ingredient without which magic is not possible.

So… Was this filmed on a set? Was a model built of each plane? How did it work? There is not a lot of space in a passenger cabin, they have never been roomy spaces, not even 60 years ago. How exactly did the cinematographer catch all these angles and bend around so many corners? It seemed like figuring all of that out could have been a very real logistical nightmare.

“It was all real,” de Lumen told me, “it was all practical. John owns one of the few Constellation propeller planes, the plane that the boy is in love with and we filmed in Kansas City, where he stores it in an aviation museum. We couldn’t break it apart for film reasons, with cranes and stuff like that, which actually dictated my use of smaller cameras. I used a Sony Venice with a sensor that could come off the body, and I could use a smaller version with a cable. It helped a lot with the small spaces.”

Were there era-appropriate inspirations for the cinematographer the way there had been for the costume designer? Maybe related to the composition, or a certain look or feel he’d wanted to be sure was communicated.

“When first talking to John about this, we both fell in love with Edward Hopper’s paintings. And if He has a lot of these beautiful scenes that have a lot of green in them and with these warm light sources above. We felt that the Constellation really embodied that look and feel, especially with the greens. The plane, as you can see in the movie, has these beautiful rectangular light sources that lie in the middle. I embraced that as a cinematographer, and that set the look for the propeller plane. In terms of the progression, you can see how, as we get closer to the jet plane, it gets brighter, it’s cooler. And with the interior of the planes, the cloth of the seats, in the jet it’s yellow now, so are the headrest covers. Progressively it gets brighter as we get further into the jet age.”



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Ethereum’s edge over Bitcoin: Can momentum hold or will bulls get trapped?

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Ethereum’s edge over Bitcoin: Can momentum hold or will bulls get trapped?


As high-cap assets reclaim key levels, investors are once again positioning for the market’s next move.

Ethereum is a prime example. After rallying 4.07% on the 15th of June, ETH reclaimed $1.8k, posting its strongest single-day gain in two weeks.

The move came as broader market sentiment flipped back to risk-on, bringing renewed attention to whether the rally is being driven by speculative leverage or Spot demand.

On-chain and derivatives data suggest positioning is picking up. According to data from CryptoQuant, Ethereum open interest jumped 7.7%, marking its largest daily increase in a month.

Rising Open Interest alongside price appreciation typically signals that new positions are entering the market, adding weight to the debate over what is fueling ETH’s breakout. 

eth
Source: X

What’s interesting is that much of the activity appears tied to a highly publicized bet. 

As highlighted above, trader Ansem recently opened an Ethereum [ETH] short targeting a move toward $888. The call quickly gained attention across crypto markets.

ETH’s subsequent 4% rally, however, moved decisively against that positioning. The move appears to have amplified FOMO across the derivatives market, with traders rushing to increase exposure. 

Notably, the surge in Open Interest suggests this dynamic is already unfolding in real time. The focus now shifts to Spot demand.

If buyers in the Spot market fail to step in and support the move, Ethereum’s breakout above $1,800 could remain largely leverage-driven. In that case, the rally risks turning into little more than a short squeeze, raising the possibility of a bull trap.

Institutional buying and relative strength support Ethereum breakout

Two key signals suggest Ethereum’s move may be more than just a short-term squeeze. 

One of them is continued institutional accumulation. According to Lookonchain, BitMine bought 76,881 ETH worth roughly $135.6 million last week, bringing its total holdings to 5.62 million ETH, valued at nearly $9.9 billion.

What’s particularly notable is that the firm’s average acquisition cost is around $3,450 per ETH. 

So, at current prices, the position remains significantly underwater on paper, yet BitMine continues to add to its holdings. The second signal is Ethereum’s relative strength.

ETH climbed 3.16% on the 15th of June, marking its strongest daily gain in nearly two weeks and outperforming Bitcoin during the risk-on move.

EthereumEthereum
Source: TradingView (ETH/BTC)

Taken together, Ethereum reclaiming a key level, outperforming BTC, and buying from BMNR all support the bullish case. In that context, the move back above $1.8k looks like more than just a short-squeeze reaction. 

Instead, it suggests traders are starting to position for a larger move higher, with growing FOMO in the derivatives market adding fuel to the rally. As more participants rush to increase exposure, the momentum behind ETH’s breakout continues to strengthen, increasing the risk of a bear trap. 

In this setup, Ansem’s liquidated short is acting as a catalyst, reinforcing bullish sentiment and encouraging traders to position for further upside.


Final Summary

  • Ethereum reclaimed $1,800 as traders piled into the market, pushing Ethereum open interest up 7.7%.
  • BitMine kept buying ETH despite being underwater on its position, while ETH continued to outperform Bitcoin.



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U.S. senators urge Treasury not to leave states out of GENIUS Act stablecoin process

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Crypto Clarity Act in spotlight for bad-actor provisions as Senate process grinds forward

State regulators got sidelined in the U.S. Department of the Treasury’s effort to implement the new U.S. stablecoin law, according to several senators from both parties who insist that the states need to be given an explicit process for proving their supervision and standards are on par with federal regulators’.

The Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act to regulate stablecoin issuers is being translated into regulations across several federal financial agencies, including the Treasury. But the opening effort may not have satisfied state regulators who are trying to push their own GENIUS-related regulations, according to a Tuesday letter from the lawmakers, led by Republican Senator Cynthia Lummis, chair of the Senate Banking Committee’s crypto subcommittee.

“Treasury’s finalized principles for assessing whether state regimes are substantially similar to the federal regulatory framework are critical in this process,” according to the letter, also signed by fellow Republicans and a few Democrats, including Angela Alsobrooks, Catherine Cortez Masto and Kirsten Gillibrand. “The proposed principles were published by Treasury but did not address the timeline and procedural requirements related to state certification.”



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