Summary
gm, SharpLink Gaming acquired $225 million in Ethereum, bringing its total ETH treasury to $846 million and reinforcing the growing trend of corporate ETH accumulation. In regulatory developments, the U.S. House narrowly passed a procedural vote on three critical crypto bills after a record 9-hour standoff, potentially setting the stage for major stablecoin and market structure regulations. Meanwhile, traditional banking giants including JPMorgan, Citigroup, and Bank of America have revealed plans to explore stablecoin issuance, signaling a notable shift as legacy finance embraces digital assets. On the market front, Ethereum has outperformed Bitcoin, surging past $3,300 with ETFs experiencing record inflows of $717 million in a single day, suggesting a potential rotation of capital from BTC to ETH.

News Headlines
🚀 Pump.fun Token Tops $2 Billion in Market Cap Following Massive ICO

  • Pump.fun's token debuted with a $2 billion market cap after a $600 million ICO that sold out in just 12 minutes, positioning it as the 63rd largest cryptocurrency.
  • Despite its strong launch, over 21% of ICO participants sold their tokens on the first day, indicating significant profit-taking while the platform continues to generate millions of Solana tokens.

💰 XRP Whale Buying Could Send Price To $4

  • XRP has undergone profit-taking at $3, but ongoing large-scale purchases by whale investors indicate a potential rally toward the $4 mark in the near future.
  • Veteran trader Peter Brandt identified a rare continuation pattern on the XRP chart, while data shows a surge in whale wallets holding over 1 million XRP, supporting a bullish outlook.

🌉 TAC Mainnet Launch Aims to Connect Ethereum DeFi with TON

  • TAC has launched its mainnet to attract Ethereum's DeFi builders to the TON ecosystem by providing an EVM-compatible bridge without requiring developers to rewrite code.
  • The independent blockchain features a dual-staking model requiring validators to stake TAC tokens while also bonding Bitcoin collateral, though it introduces additional trust assumptions and complexity.

🎮 GameStop CEO Ryan Cohen Talks Bitcoin Strategy, Teases Crypto Payments

  • GameStop CEO Ryan Cohen discussed the company's unique Bitcoin strategy, revealing they've invested $500 million in Bitcoin as an inflation hedge while maintaining a robust $9 billion cash position.
  • Cohen also mentioned GameStop is exploring accepting cryptocurrencies for trading card sales, indicating broader interest in crypto while taking a more cautious approach than other Bitcoin treasury leaders.

🚢 Kraken's US Derivatives Launch Reflects Broader 'Unified Access' Trend

  • Kraken has launched CME-listed crypto futures via Kraken Pro as part of a growing trend toward creating unified access platforms for trading multiple asset classes.
  • Following its acquisition of NinjaTrader, which holds a CFTC-registered FCM license, Kraken plans to expand offerings to include various futures across commodities, fixed income, FX, and equity later this year.

Market Metrics

Fundraising & VC
1. Plasma (Public Token Sale, $50M) - Zero-fee payment platform built on Bitcoin
2. Two Prime (Undisclosed, $20M) - SEC-registered digital asset investment advisor offering institutional-grade bitcoin strategies

Regulatory
🔒 EU Anti-Money Laundering Authority Warns Crypto Firms of New Regulations

  • The EU's AMLA has issued a warning to crypto exchanges about stricter compliance requirements, including scrutiny of beneficial owners and prohibition of anonymous wallets and privacy coins.
  • By July 2027, crypto firms must grant direct government access to account data, signaling a major shift in privacy expectations.

⚖️ Roman Storm Trial: Prosecutors Link Tornado Cash to North Korean Hackers

  • In opening statements of the Tornado Cash co-founder's trial, prosecutors claimed Roman Storm profited from a service that washed dirty money linked to North Korean hackers, particularly the Lazarus Group.
  • Storm's defense argued that Tornado Cash is a legitimate privacy tool and that he should not be held accountable for misuse by others, raising important questions about developer liability.

🚨 DEA, FBI Seize $10M in Crypto Linked to Sinaloa Cartel

  • U.S. authorities have confiscated over $10 million in cryptocurrency tied to Mexico's Sinaloa cartel during operations in Miami, highlighting the cartel's increasing use of digital currencies for money laundering.
  • Since January, law enforcement has also seized over 44 million fentanyl pills and nearly 65,000 pounds of methamphetamine as part of a nationwide crackdown.

🏠 Australia Launches First Bitcoin-Backed Home Loans

  • Sydney-based fintech Block Earner has introduced Australia's first Bitcoin-backed home loans, allowing crypto holders to secure up to 50% of a property's value using Bitcoin as collateral.
  • The interest-only loans for four years enable borrowers to maintain exposure to Bitcoin while avoiding the tax and liquidation issues associated with selling their assets.

🏛️ EU Sanctions A7 Crypto Network for Russian Election Interference

  • The EU has sanctioned pro-Kremlin influencer Simeon Boikov and Moldova-based platform A7 for using cryptocurrency to spread disinformation and interfere in elections, including the 2024 U.S. elections.
  • The A7 platform issued a ruble-backed stablecoin, A7A5, reportedly used to evade sanctions and facilitate large transactions amounting to $9.3 billion over four months.

Technical Analysis
Bitcoin - Bitcoin is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. The price has risen strongly since the positive signal from the rectangle formation at the break through resistance at 107710. The objective at 115727 is now met, but the formation still gives a signal in the same direction. 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 109000 points. The short term momentum of the currency is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Bitcoin. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. 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 2780 points. Positive volume balance strengthens the currency in the short term. RSI above 70 shows that the currency has strong positive momentum in the short term. Investors have steadily paid more to buy the currency, which indicates increasing optimism and that the price will continue to rise. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a reaction downwards. The currency is overall assessed as technically positive for the short term.