Summary
gm, President Donald Trump signed the GENIUS Act into law, setting clear rules for stablecoin issuance and oversight. The legislation received strong bipartisan support and was celebrated at a White House ceremony attended by numerous crypto industry leaders. In response to this regulatory clarity, institutional interest continues to grow, with Charles Schwab announcing plans to offer spot Bitcoin and Ethereum trading, as well as considering launching its own stablecoin. Meanwhile, the altcoin market is showing signs of a potential "altseason," with the total altcoin market cap reaching $1.5 trillion and currencies like Ethereum, XRP, and Stellar experiencing substantial gains, supported by over $1.7 billion in stablecoin inflows to exchanges this week.

News Headlines
📈 Bitcoin Dominance Drops as Ethereum and XRP Surge

  • Bitcoin's market dominance has fallen from 65.5% to approximately 61% in one week as investor interest shifts towards altcoins, with Ethereum rising about 20% to $3,600 and XRP surging 23% to an all-time high of $3.46.
  • Analysts remain cautious about declaring a definitive altcoin season, noting that a clearer trend reversal is necessary for sustained altcoin momentum, which could be further bolstered by potential Federal Reserve interest rate cuts providing additional market liquidity.

🚨 Indian Exchange CoinDCX Hacked for $44 Million

  • CoinDCX, a major Indian cryptocurrency exchange, lost $44 million in a sophisticated hack targeting one of its internal accounts used for liquidity provisions with another exchange.
  • CEO Sumit Gupta assured that no user funds were affected as the breach was isolated to an operational account separate from customer wallets, with the company planning to absorb the loss from its treasury reserves.

💰 Strategy's Bitcoin Custodial Arrangements Under Scrutiny

  • Strategy (formerly MicroStrategy), holding nearly $72 billion in Bitcoin, keeps its BTC across multiple undisclosed custodians with Coinbase confirmed as one of them, raising questions about custody security for the world's largest corporate Bitcoin holder.
  • The company maintains confidentiality around its custodians for security reasons, though blockchain analytics firm Arkham suggests Fidelity could be holding approximately 70,000 BTC for Strategy, while regulatory filings indicate they only use NYDFS-regulated custodians.

💻 Crypto Casinos Transforming the Gaming Industry

  • Crypto casinos are revolutionizing the gaming industry with a market size projected to reach $81 billion by 2024, addressing traditional casino challenges like high fees and chargebacks through blockchain technology.
  • Shuffle, co-founded by former Alameda trader Noah Dummett, exemplifies this trend by operating a crypto casino that combines off-chain gameplay with blockchain transactions, offering a weekly lottery with up to 48% annual returns to token holders.

💵 Jack Dorsey's Block to Join S&P 500, Stock Surges 9%

  • Block, Inc., founded by Jack Dorsey, will replace Hess Corp in the S&P 500 index, causing its stock price to rise nearly 9% in after-hours trading to $79 and generating enthusiasm within the Bitcoin community.
  • The company currently holds 8,584 Bitcoin in its treasury and plans to introduce Bitcoin payments via its Square platform by 2026, marking a significant milestone for cryptocurrency representation in mainstream financial indices.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
🚨 GENIUS Act Criticized as Potential "CBDC Trojan Horse"

  • Congresswoman Marjorie Taylor Greene warned that the GENIUS Act could enable the government to introduce a central bank digital currency under the guise of private stablecoins.
  • Critics argue the legislation places stablecoins under CBDC-like regulations with strict compliance requirements for sanctions and KYC protocols.

📈 CFTC Leadership Change Could Reshape Crypto Oversight

  • The Senate Agriculture Committee is considering Brian Quintenz, President Trump's nominee for CFTC chair, whose confirmation could significantly impact cryptocurrency regulation.
  • Quintenz's appointment may lead to expanded CFTC authority over digital assets if the CLARITY Act is passed, which would transfer oversight from the SEC.

🏦 FHFA's Crypto Mortgage Rules May Exclude Self-Custody

  • The Federal Housing Finance Agency's directive on cryptocurrency in mortgage assessments may inadvertently exclude self-custodied digital assets, increasing risks for homebuyers.
  • The directive focuses on asset "verifiability" rather than requiring assets to be held on regulated exchanges, potentially misunderstanding crypto's self-custody benefits.

🔐 $6.9 Million Lost to Fake Ledger Hardware Wallet Scam

  • A user lost $6.9 million after purchasing a counterfeit Ledger hardware wallet from Douyin (Chinese TikTok) that appeared authentic with factory-sealed packaging.
  • The wallet had been compromised before sale, allowing attackers to drain funds immediately after transfer by predetermining the secret recovery phrase.

🌐 Bullish Exchange Files for US IPO on NYSE

  • Cryptocurrency exchange Bullish has filed for an initial public offering with the SEC, planning to list on the NYSE under the ticker symbol "BLSH."
  • The Cayman Islands-based exchange reported an $80 million net income for 2024 but faced a $349 million loss in Q1 2025.

Technical Analysis
Bitcoin - Bitcoin shows strong development within a rising trend channel in the short term. Rising trends indicate that the currency experiences positive development and that buy interest among investors is increasing. 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. The currency is approaching resistance at 121000 points, which may give a negative reaction. However, a break upwards through 121000 points will be a positive signal. The currency is overall assessed as technically positive for the short term.

Ethereum - Investors have paid higher prices over time to buy Ethereum and the currency is in a rising trend channel in the short term. This signals increasing optimism among investors and indicates continued rise. 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 2760 points. Positive volume balance shows that volume is higher on days with rising prices than days with falling prices. This indicates increasing optimism among investors. 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.