BTC is currently trading around $100,300 and ETH around $3,350. Notable gainers in the last 24 hours are HBAR, LTC, and XDC. The global crypto market cap is $3.69T, up 1.2% over the last day. DeFi Total Value Locked is ~$124b and BTC dominance is around 57%.
Crypto continues to move higher, with SOL and XRP outperforming after Trump stated that he is receptive to establishing a strategic reserve with US-based coins.
Notable news includes: Hong Kong’s SFC unveiled a streamlined licensing approach for virtual asset trading platforms; South Korea’s FIU reportedly notified Upbit that it may face sanctions related to ML/KYC obligations; the UK appointed Emma Reynolds as Economic Secretary in charge of overseeing digital assets; Treasury Secretary nominee Bessent testified before a Senate Committee as part of his confirmation hearing today; Bessent stated he sees no reason why the US should have a CBDC; the SEC filed its opening brief in its appeal against Ripple asserting that XRP should be regulated as a security; a US law firm raised the possibility of a lawsuit against pump.fun over investor harm allegations; Fed Governor Waller hinted at multiple rate cuts this year if inflation continues its downward trend; blockchain associations from eight US states announced the creation of the North American Blockchain Association (NABA); a Texas Senator filed a bill to establish a state-level strategic Bitcoin reserve; Bitwise revealed it provided information to a country considering a strategic Bitcoin reserve; eToro confidentially filed for a US IPO; Indian technology company Jio Platforms partnered with Polygon to launch web3 and blockchain services in India; Canary Capital filed an amended S-1 form for its spot Litecoin ETF application suggesting that the SEC may be actively reviewing Litecoin-focused ETF applications; VanEck filed for an ETF targeting constituent companies building digital assets infrastructure; Coinbase reintroduced Bitcoin-backed loans via an integration with Morpho; Tether tapped Kraken’s Ethereum L2 Ink for the first deployment of its cross-chain USDT0 token; the activist short seller that targeted USDT, Hindenburg Research, announced it will close; 30% of Ethereum validators have now signaled for a higher block gas limit; Justin Sun unveiled USDD 2.0 with 20% APY; World Liberty Financial reshuffled its treasury holdings; Pyth launched a new oracle called Lazer for latency-sensitive apps; and, Helium partnered with DAWN to create a last-mile internet solution.
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Author:
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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