BTC is currently trading around $87,200 and ETH around $2,000. Notable gainers in the last 24 hours are BERA, SUI and TON. The global crypto market cap is $2.95T, up 1.0% over the last day. DeFi Total Value Locked is ~$101b and BTC dominance is around 62%.
Equity markets are mixed with US equities lower after President Trump outlined his new tariffs aimed at foreign automakers and confirmed his intention to apply retaliatory tariffs, which will be permanent throughout his second term. Crypto markets, meanwhile, are flattish.
Notable news includes: the US Senate once again voted to repeal the IRS’ DeFi broker rule, which will now go to the President for final approval; the US House of Representatives released the text of the STABLE Act, its version of the much awaited stablecoin bill making its way through the US Congress; US SEC Chair candidate Paul Atkins testified at his Senate confirmation hearing; the state of Wyoming announced it is taking steps to launch its WYST stablecoin as soon as July of this year; NYSE parent company Intercontinental Exchange partnered with Circle to explore developing new products using stablecoins and tokenized assets; GameStop proposed a private offering of $1.3b of convertible notes to begin its new Bitcoin acquisition plan; Interactive Brokers expanded its crypto trading options to include SOL, XRP, ADA and DOGE; European crypto VC fund Maven 11 raised $107m for its third fund; Tether increased its stake in $1.12b Latin American agricultural firm Adecoagro to 70%; Hyperliquid enabled direct deposits and withdrawals of ETH for spot trading; Cosmos developers tested a new version of the Inter-Blockchain Communication (IBC) protocol which can now extend to other blockchains like Ethereum and Solana; and, Star Atlas announced a collaboration with AI blockchain project SingularityNET to integrate AI agents into the game.
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Author:
Carlos Guzman, Research Analyst | Twitter, Telegram, LinkedIn
Brian Rudick, Head of Research | Twitter, Telegram, LinkedIn
Toe Bautista, Research Analyst | Twitter, Telegram, LinkedIn
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