This is Coin Desk Daily. I'm your host, Sam Ewan.

President Trump's stern warning to Iran yesterday caused markets to rattle with every one of the top 10

cryptocurrencies in the red over the last 24 hours. In prediction markets, the question of will we see U.S. military action against Iran before

July jumped to 62%.

Things are moving fast and markets are waiting for signs of de-escalation.

The U.S. Senate has passed the Genius Act to regulate stable coins.

This is the first time the Senate has ever cleared

a major piece of crypto legislation. Democrats and Republicans alike push the bill through

in a bipartisan manner. The bill is now in the House to see if it will be changed or passed.

Is the layer one landscape saturated? Bahamuk blockchain offers a fresh perspective, aligning validator economics with real usage.

Discover Bahamut's new approach to validator rewards in our CoinDesk research's latest report.

In it, we explore their novel proof of staking and activity consensus mechanism, an activity-weighted

validator scoring system.

Go to coin desk.com slash research to read more about the BajaMut blockchain.

Memcoins are down, but certainly not out.

The useless token has caught the eye of many crypto traders.

With their simple pitch, it's literally useless, as it promises no function or utility other than existing.

The Solana-based token is sitting at a $105 million market cap, and as coined as journalist Sharia Malwa writes,

in a flat market where most tokens promise the moon and deliver a tweet,

useless has found its niche. No promises, no pretenses, just a meme that's worth

millions. That's it for CoinDest Daily. Get more updates on CoinDest.com, and we'll see you next time.