Summary
gm, Bitcoin maintained a steady position above $83,000 despite ongoing market volatility. Notably, Solana's CME futures debuted with a trading volume of $12.1 million, though falling short of Bitcoin and Ethereum's initial performances. Meanwhile, institutional interest continues to evolve, with Coinbase launching KYC-verified liquidity pools for DeFi swaps and trades, potentially bridging the gap between traditional finance and decentralized platforms. Additionally, regulatory developments are progressing, with Bo Hines, executive director of the President's Council of Advisers on Digital Assets, indicating that comprehensive stablecoin legislation could be finalized within the next two months, emphasizing the urgency to maintain the US dollar's dominance in digital transactions.

News Headlines
💰 Coinbase Gets 'Buy' Rating as Trump's Crypto Policies Take Shape

  • Bernstein initiated coverage of Coinbase with an "outperform" rating and $310 price target, projecting 69% upside.
  • Analysts cited Coinbase's dominant 66% US market share and potential benefits from Trump's crypto-friendly policies.

🏦 Xapo Bank Launches Bitcoin-Backed USD Loans up to $1M

  • Gibraltar-based Xapo Bank introduced Bitcoin-backed USD loans of up to $1 million for long-term holders.
  • Loans have 30-365 day repayment terms with no early repayment penalties. Collateral is held securely in Xapo's vault.

🤖 Microsoft Warns of New Remote Access Trojan Targeting Crypto Wallets

  • Microsoft identified a new remote access trojan called StilachiRAT targeting 20 popular crypto wallet browser extensions.
  • The malware can extract saved credentials, monitor clipboard activity, and has stealth capabilities to avoid detection.

💡 Cathie Wood Says She Wants To Bring Ark Invest Funds On-Chain

  • Ark Invest CEO Cathie Wood expressed desire to transition the firm's funds onto blockchain technology.
  • The move aims to enhance efficiency, transparency and accessibility of investment funds.

🌐 Ethereum-Compatible Chain Converge Aims to Rethink Crypto Economics for Wall Street

  • Ethena Labs and Securitize launched Converge, a new Ethereum-compatible blockchain for DeFi and tokenized assets.
  • The chain will support $2 billion in tokenized products and allow gas fees to be paid in stablecoins.

Market Metrics

Fundraising & VC
1. Crossmint (Undisclosed, $23.6M) - Blockchain infrastructure platform
2. Halliday (Series A, $20M) - Workflow protocol
3. Opinion Labs (Seed, $5M) - Next-gen prediction market platform
4. Soluna (Post IPO Debt, $5M) - Green data center for Bitcoin mining and AI
5. Level (Strategic, $2.6M) - Stablecoin with DeFi-native yield

Regulatory
🚫 Justice Department Drops BitClout Fraud Case

  • The US Department of Justice drops fraud charges against BitClout founder Nader Al-Naji.
  • This decision reflects a shift in the regulatory environment under the new Trump administration.

💼 Crypto Firms Seek Bank Charters Under Trump Administration

  • Cryptocurrency and fintech companies are increasingly pursuing bank charters to expand their businesses.
  • The current regulatory environment appears more supportive, offering opportunities for crypto firms to integrate with traditional banking.

🏦 Boerse Stuttgart's BX Digital Gains FINMA Approval

  • Boerse Stuttgart's BX Digital receives approval from Swiss regulator FINMA to operate a digital asset trading platform.
  • This approval reinforces the company's commitment to compliance and regulatory standards in the evolving fintech space.

💰 Minnesota Senator Proposes Bitcoin Act

  • Minnesota state Senator Jeremy Miller introduces the Minnesota Bitcoin Act to integrate Bitcoin into state asset investments.
  • The bill proposes allowing state employees to invest in cryptocurrencies for retirement and residents to pay state taxes using Bitcoin.

🔍 SEC's Uyeda Signals Possible Revisions to Crypto Custody Rule

  • SEC Acting Chair Mark Uyeda considers changes to the controversial crypto custody rule proposed by former Chair Gary Gensler.
  • The SEC plans to reassess the expansion of the definition of 'exchange' to better account for crypto transactions.

Technical Analysis
Bitcoin - Bitcoin is in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Bitcoin. The currency is approaching resistance at 84300 points, which may give a negative reaction. However, a break upwards through 84300 points will be a positive signal. The currency is assessed as technically negative for the short term.

Ethereum - Ethereum is in a falling trend channel in the short term. This shows that investors over time have sold at lower prices to get out of the currency, and indicates negative development for the currency. The currency is approaching support at 1870 points, which may give a positive reaction. However, a break downwards through 1870 points will be a negative signal. Negative volume balance shows that volume is higher on days with falling prices than days with rising prices. This indicates decreasing optimism among investors. The currency is overall assessed as technically slightly negative for the short term.