Summary
gm, Forward Industries announced a massive $1.65 billion funding round to establish a Solana-focused treasury, causing its shares to surge 128%. In parallel, Nasdaq filed a request with the SEC to allow trading of tokenized securities, signaling a major push for blockchain integration in traditional finance. Hong Kong's crypto landscape is evolving rapidly with HSBC and ICBC planning to apply for stablecoin licenses under the region's new regulatory framework, while HashKey Group launched a $500 million digital asset treasury fund targeting Bitcoin and Ethereum. Meanwhile, security concerns have emerged with a major supply chain attack affecting JavaScript packages with over 1 billion downloads, potentially compromising cryptocurrency transactions.

News Headlines
💰 Bitcoin Whales Dump 115,000 BTC in Biggest Sell-Off Since Mid-2022

  • Bitcoin whales have sold $12.7 billion worth of Bitcoin over the past month, the largest distribution of the year, with whale reserves dropping by over 100,000 BTC, a significant display of risk aversion among large investors.
  • Despite this heavy selling pressure pushing Bitcoin below $108,000, institutional buying during this period has created a counterbalance, with analysts suggesting Bitcoin could fall to around $95,000 before recovering.

🌐 CoinShares To Go Public In US Through $1.2B Merger With Vine Hill

  • CoinShares, Europe's largest digital asset manager with $10 billion in assets, is going public in the US through a $1.2 billion merger with Nasdaq-listed SPAC Vine Hill Capital Investment Corp.
  • The transaction will relocate CoinShares' listing from Stockholm to New York, giving the firm access to US capital markets and investors while positioning it to capitalize on clearer regulatory conditions in the digital asset space.

⛏️ Solo Bitcoin Miner Gets Lucky, Scores $347K in BTC

  • A solo Bitcoin miner successfully mined block 913,632, earning a reward of 3.13 BTC valued at approximately $347,872 despite mining difficulty reaching record levels of 136.04 trillion.
  • This marks the second successful solo mining achievement this month, demonstrating the decentralized nature of the Bitcoin network even amid the dominance of large mining operations.

🌎 Trump Family's Wealth Grew by $1.3 Billion Thanks to Crypto

  • The Trump family increased their collective wealth by $1.3 billion due to the trading debut of American Bitcoin mining company (ABTC) and gains from World Liberty Financial (WLFI).
  • WLFI contributed $670 million to the family's net worth, while Eric Trump's stake in ABTC was initially valued at over $500 million, though ABTC shares later dropped by more than 50%.

🏦 Backpack Opens Regulated Perpetuals Exchange in Europe After Buying FTX EU

  • Backpack Exchange has launched its European division, Backpack EU, which is now licensed under the EU's MiFID II framework after acquiring FTX EU.
  • The platform will offer over 40 trading pairs with up to 10x leverage to both retail and institutional traders, positioning itself as one of the first fully regulated platforms in Europe to offer cryptocurrency derivatives.

Market Metrics

Fundraising & VC
1. Inversion Capital (Seed, $26.5M) - Crypto-native private equity
2. Everlyn (Public Token Sale, $2M) - AI video and image generator
3. PlayAI Network (Public Token Sale, $2M) - Orchestration layer for crypto x AI

Regulatory
⚖️ California Man Sentenced in $37M Crypto Scam

  • Shengsheng He received 51 months in prison for laundering almost $37 million from a global cryptocurrency investment scam that lured victims through unsolicited messages and dating apps.
  • The case is part of a broader DOJ crackdown on crypto fraud, with eight co-conspirators already pleading guilty and He ordered to pay $26.9 million in restitution.

💰 Kazakhstan's President Unveils National Crypto Reserve Plans

  • President Tokayev announced plans for a State Fund of Digital Assets aimed at building a strategic crypto reserve and establishing a comprehensive digital asset law by 2026.
  • The initiative includes developing a "CryptoCity" in Alatau where cryptocurrency will be used for daily transactions, positioning Kazakhstan as a significant player in the global crypto market.

💵 Putin Advisor Accuses US of Using Crypto to Manage Debt

  • Anton Kobyakov claimed the US is leveraging cryptocurrency and gold to handle its $35 trillion debt by potentially transferring currency debt into crypto and then devaluing it.
  • The advisor suggested the US is rewriting rules governing asset classes to alleviate fiscal burdens at the expense of global trust in the dollar.

👮 DC Attorney General Charges Bitcoin ATM Operator with Elderly Scams

  • Athena Bitcoin, operating 4,100 Bitcoin ATMs across five countries, faces allegations of failing to protect elderly residents from scams and imposing fees as high as 26%.
  • The lawsuit highlights that 93% of deposits in DC were linked to fraud in initial months, with customers often unaware of true costs due to receipts lacking itemized fees.

🏦 US Lawmakers Request Treasury Report on Government Bitcoin Holdings

  • House lawmakers have initiated legislation requiring the Treasury to assess the feasibility of establishing a Strategic Bitcoin Reserve within 90 days of the bill's passage.
  • The report must address custody architecture, cybersecurity practices, and legal authority for holding digital assets, setting potential industry standards for digital currency management.

Technical Analysis
Bitcoin - Bitcoin has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate. The currency has support at points 107700 and resistance at points 113500. The currency is assessed as technically neutral for the short term.

Ethereum - Ethereum has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The currency is approaching support at 4130 points, which may give a positive reaction. However, a break downwards through 4130 points will be a negative signal. The currency is assessed as technically positive for the short term.