Summary
gm, Trump Media & Technology Group announced a significant $2 billion investment in Bitcoin and BTC-related securities, joining the growing trend of corporate treasury strategies. Institutional interest in Ethereum surged as ARK Invest sold Coinbase and Roblox shares to acquire stakes in Ethereum treasury firm Bitmine, while SharpLink Gaming's ETH holdings reached 360,807 ETH ($1.3 billion). Meanwhile, regulatory clarity advanced with the US GENIUS Act establishing a federal framework for stablecoins, and PNC Bank partnered with Coinbase to offer crypto services to clients, highlighting mainstream financial institutions' increasing cryptocurrency adoption amid a market where altcoins like XRP, Dogecoin, and Solana continue to rally.

News Headlines
🏦 JPMorgan Exploring Loans Backed by Bitcoin, Ethereum

  • JPMorgan Chase is considering offering loans secured by clients' Bitcoin and Ethereum holdings, potentially launching as early as next year. This move reflects growing institutional interest and improved regulatory clarity following the recent passing of the GENIUS Act.
  • The bank cannot currently hold crypto on its balance sheet and would rely on third-party custodians to manage collateral, opening significant new credit markets if implemented.

📱 TON Wallet goes live for Telegram users in US

  • Telegram has launched its native TON Wallet for its 87 million U.S. users, enabling seamless crypto transactions directly within the app. The self-custodial wallet allows users to send, receive, and store digital assets without needing external downloads.
  • The wallet includes features like zero-fee USDT purchases via Apple Pay and introduces off-ramp functionality for withdrawals to bank cards, potentially accelerating mainstream crypto adoption.

💰 Strategy launches Bitcoin stock pegged at $100 to increase treasury

  • Strategy (formerly MicroStrategy), the largest corporate Bitcoin holder, is launching a Variable Rate Series A Perpetual Stretch Preferred Stock (STRC) with an initial offering of 5 million shares to raise funds for Bitcoin investment.
  • The stock is designed to maintain a value close to $100 per share with a starting 9% annual dividend rate, creating a mechanism to optimize fiat currency conversion into Bitcoin for treasury expansion.

🌊 StablecoinX to go public via SPAC merger, raising $360M for ENA treasury

  • StablecoinX, part of the Ethena ecosystem, is going public through a merger with TLGY Acquisition Corp., aiming to secure $360 million to establish a crypto corporate reserve backed by ENA tokens.
  • The company will be renamed StablecoinX Inc. and list on Nasdaq under "USDE," focusing on providing infrastructure and staking services for the Ethena protocol while building a treasury similar to Bitcoin accumulation strategies.

🔄 Western Union Eyes Stablecoins as Remittance Giants Face Outward Pressure

  • Western Union is exploring stablecoins to enhance its global remittance services, with CEO Devin McGranahan highlighting opportunities for faster cross-border payments and better store-of-value options in countries with weaker currencies.
  • The company is piloting new settlement processes in South America and Africa while seeking crypto on/off-ramp partnerships, potentially reducing remittance costs that currently exceed 6% by eliminating intermediaries.

Market Metrics

Fundraising & VC
1. xTAO (Undisclosed, $22.8M) - Publicly traded Bittensor company
2. Soluna (Undisclosed, $20M) - Developer of green data centers for Bitcoin mining and AI
3. Poseidon (Seed, $15M) - Decentralized data layer built on the Story Protocol
4. Questflow (Seed, $6.5M) - Decentralized autonomous AI agent network

Regulatory
🚫 UK to Ban Public Sector Ransomware Payments

  • The UK is advancing a ban on all public sector bodies and operators of critical national infrastructure from making ransomware payments, extending an existing ban on government departments.
  • The proposal includes a prevention regime requiring victims not covered by the ban to report ransom payment intentions, with a threshold-based reporting system requiring details within 72 hours.

🔍 FBI Ends Investigation Into Kraken Founder Jesse Powell

  • The U.S. Department of Justice has concluded its investigation into Jesse Powell, co-founder of the cryptocurrency exchange Kraken, returning seized electronic devices from a 2023 raid.
  • The investigation was related to allegations that Powell had hacked and cyber-stalked his own nonprofit arts organization, the Verge Center for the Arts, and was unrelated to his cryptocurrency business.

🚔 Crypto ATMs Seized in UK Amid Regulatory Crackdown

  • Seven crypto ATMs were seized and two arrests were made in southwest London on suspicion of money laundering and operating illegal exchanges.
  • The UK Financial Conduct Authority (FCA) stated that operating a crypto ATM without FCA registration is a criminal offense, emphasizing that no legal crypto ATMs exist in the UK.

⚖️ Roman Storm Considers Mistrial in Tornado Cash Case

  • Roman Storm, co-creator of Tornado Cash, may seek a mistrial due to government witness Hanfeng Lin's testimony, which he claims is unrelated to the crypto mixer.
  • Storm's defense argues that Lin's testimony recounting a $190,000 scam loss should not be admitted as evidence since these funds did not flow to Tornado Cash.

📊 SEC Halts Approval of Crypto Index ETFs

  • The SEC paused the approval of Bitwise's 10 Crypto Index ETF just hours after its staff gave the green light, the second such intervention this month following a similar halt on Grayscale's Digital Large Cap Fund.
  • The Bitwise ETF was intended to provide diversified exposure to major crypto assets but now faces indefinite delay without a required timeline for the Commission's review.

Technical Analysis
Bitcoin - Bitcoin is in 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 testing support at points 117700. This could give a positive reaction, but a downward breakthrough of points 117700 means a negative signal. RSI is above 70 after a good price increase the past weeks. The currency has strong positive momentum and further increase is indicated. 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.