Summary
gm, El Salvador approved the Investment Banking Law allowing banks to hold Bitcoin and offer crypto services to sophisticated investors, positioning the country as a financial hub. Meanwhile, Ethereum reached a three-year high above $4,300, driven by regulatory clarity on liquid staking, favorable macroeconomic conditions, and institutional interest, with Vitalik Buterin reclaiming his "onchain billionaire" status as his portfolio exceeded $1 billion. In the U.S., crypto firms continue to face banking challenges despite Trump's pro-crypto stance, with executives like Unicoin's CEO reporting multiple instances of being "debanked" without explanation, as the administration directs federal regulators to address these issues. Security concerns escalated with reports that at least one Bitcoin holder is kidnapped weekly according to SatoshiLabs founder, while Bitcoin traders express optimism about a potential short squeeze that could drive BTC to $120,000 following recent liquidations.

News Headlines
📈 Bitcoin Targets $120,000 With Potential Short Squeeze

  • Bitcoin traders are anticipating a short squeeze that could push BTC to $120,000, following recent price increases and strong liquidations totaling about $350 million over the weekend.
  • Analysts predict that just a 10% price gain could trigger over $18 billion in short liquidations, with popular traders expecting a brief cooling period on Monday before a rally that could push Bitcoin above $120,000.

💰 MicroStrategy Celebrates 5 Years of Bitcoin Purchases with 2,600% Gains

  • MicroStrategy marked five years since their initial Bitcoin purchase on August 11, 2020, a strategic move that has revitalized the company's share price with nearly 2,600% gains since then.
  • The firm has invested $46 billion in Bitcoin, now holding 628,791 BTC—the largest among any public or private company—with an unrealized profit of around $28.8 billion and plans to continue its investment approach.

💻 The Future Belongs to Those Who Own Their AI

  • The article discusses how AI is transforming the labor economy by outperforming humans in various fields, signaling a decline in traditional labor-value frameworks where ownership of AI systems will define the future economy.
  • Blockchain is positioned as crucial infrastructure enabling decentralized ownership of AI, emphasizing that individuals must develop systems thinking and create personal AI agents to remain relevant in future economic landscapes.

🏛️ Bo Hines Steps Down as White House Crypto Council Director

  • Bo Hines, executive director of the White House Crypto Council, has resigned to return to the private sector after helping establish stablecoin oversight and digital asset policies during his tenure.
  • While no successor has been officially named, Patrick Witt, the deputy director of the advisory group, is anticipated to be appointed to the position as the administration continues to shape U.S. cryptocurrency regulation.

🤖 Elon Musk's Grok AI Defeated by OpenAI in Chess Exhibition

  • In an AI chess exhibition, OpenAI's o3 model defeated Elon Musk's Grok 4 in four consecutive games, with both AI models performing surprisingly poorly without specialized training.
  • World champion Magnus Carlsen noted that both AIs played like beginners, with Grok making significant blunders, raising questions about the abilities of these AIs which are claimed to be approaching human-level intelligence.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
🌐 Drone-Based Decentralized Telecom Network Launches

  • World Mobile has launched a blockchain-enabled 5G network using hydrogen-powered drones to provide connectivity in underserved areas globally.
  • Each drone operates at 60,000 feet covering 15,000 square kilometers with minimal latency compared to satellite systems, though regulatory and technical hurdles remain.

📈 Ethereum Surges on Regulatory Clarity

  • Ethereum has reached its highest price since 2021, exceeding $4,300, partly due to clearer U.S. regulatory guidance on liquid staking and stablecoins.
  • The SEC's clarification that liquid staking services are not securities has opened doors for more institutional investment in Ethereum, enhancing its attractiveness as a long-term investment.

🔒 Russian Hackers Steal $1M Using Fake Crypto Wallets

  • Russian hacking group GreedyBear has targeted English-speaking victims with fake versions of popular crypto wallets, stealing over $1 million in five weeks.
  • The attackers use a technique called Extension Hollowing to initially upload non-malicious browser extensions that are later updated with malicious code, bypassing security measures.

⛓️ Ransomware Group Moved $34M in Crypto Since April

  • The Embargo ransomware group has transferred over $34 million in crypto since April 2024, targeting U.S. hospitals and critical infrastructure with ransom demands as high as $1.3 million.
  • Investigations suggest Embargo may be a rebrand of the BlackCat (ALPHV) operation, as both use similar technologies and exhibit onchain connections through shared wallet systems.

Technical Analysis
Bitcoin - Bitcoin shows strong development within a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. The currency has given a positive signal from the rectangle formation by a break up through the resistance at 118077. Further rise to 122416 or more is signaled. The currency has broken up through resistance at points 121000. This predicts a further rise. In case of negative reactions, there will now be support at points 121000. Negative volume balance indicates that volume is high on days with falling prices and low on days with rising prices, which weakens the currency. The currency is overall assessed as technically positive for the short term.

Ethereum - Ethereum is in a rising trend channel in the short term. This shows that investors over time have bought the currency at higher prices and indicates good development for the currency. There is no resistance in the price chart and further rise is indicated. In case of a negative reaction, the currency has support at approximately 3870 points. The currency is assessed as technically positive for the short term.