Summary
gm, Ethereum reached a new all-time high of $4,879 following Federal Reserve Chair Jerome Powell's dovish remarks suggesting potential interest rate cuts. In regulatory news, VanEck filed for the first staked Solana ETF backed by JitoSOL tokens, marking a strategic move to introduce blockchain-native yield-bearing assets to traditional financial markets. Meanwhile, Coinbase forecasted that the US dollar-pegged stablecoin market will reach $1.2 trillion by 2028, potentially transforming stablecoin issuers into significant purchasers of US government debt. On the technical side, Ethereum developers announced the upcoming Fusaka upgrade with PeerDAS technology, which could increase transaction capacity up to eight times without significant hardware demands, further enhancing layer-2 scalability.

News Headlines
🏦 US Retirement Plans Could Fuel Bitcoin Rally to $200K Despite Downturn

  • Analysts believe the inclusion of digital assets in US 401(k) retirement plans could lead to significant new inflows into Bitcoin, potentially pushing its price above $200,000 by the end of 2025.
  • If just 1% of the $12.2 trillion in 401(k) plans is allocated to Bitcoin, this could translate to an influx of $122 billion, potentially having a more pronounced impact than the prior approval of Bitcoin ETFs.

🔍 Arthur Hayes Expects Ethereum to Surge to $20,000

  • BitMEX founder Arthur Hayes has raised his price prediction for Ethereum to between $10,000 and $20,000 by the end of the current market cycle, following ETH's new all-time high price of $4,789.
  • Hayes attributes this potential rise to expected quantitative easing measures by the Trump administration, which he believes will lead to increased money supply and asset inflation, driven by institutional interest and favorable regulatory developments.

🌊 SharpLink Gaming to Buy Back Up to $1.5 Billion in Stock

  • SharpLink Gaming announced a stock repurchase program for up to $1.5 billion of its common stock, representing nearly half of its total market cap of $3.5 billion.
  • The buyback is intended to address instances where the company's stock trades at a discount compared to its Ethereum holdings of 740,000 ETH valued at over $3.5 billion, with the stock already seeing a 15% increase following the announcement.

đź”’ Interpol Coordinates Crackdown On Illegal Angola-Based Crypto Miners

  • Interpol announced over a thousand arrests and the seizure of around $100 million in a crackdown against illegal crypto miners in Angola, dismantling 25 mining centers operated by 60 Chinese nationals.
  • In April 2024, Angola implemented a mining ban due to significant power distribution issues, joining various countries concerned about heavy energy consumption from crypto mining.

⚖️ Curve Debates 60M crvUSD Pre-mint for Yield Basis Amid Governance Pushback

  • A proposal to pre-mint 60 million crvUSD for Curve's new Yield Basis AMM is causing controversy, with the tokens requested to support Bitcoin pools aimed at reducing impermanent loss.
  • Critics highlight potential risks including lack of backing and governance concerns, especially amid recent vulnerability-related losses, while suggestions for improvement include structuring the request as a capped credit line and implementing insurance vaults.

Market Metrics

Fundraising & VC
No fundraising data today.

Regulatory
👩‍💼 IRS Crypto Division Head Exits as Tax Changes Loom

  • Trish Turner, head of the IRS's digital assets unit, has resigned after just three months to join a private crypto tax firm as new cryptocurrency tax regulations are set to roll out.
  • Her departure follows resignations of two other high-profile IRS officials and comes as the agency prepares for a significant increase in crypto tax filings under new reporting requirements.

⚖️ Court Approves $13M BlockFi Settlement After Objection Withdrawn

  • A New Jersey judge granted preliminary approval for a $13 million settlement in a class-action lawsuit against crypto lender BlockFi after an investor withdrew their objection.
  • The settlement will benefit approximately 89,000 users who held interest accounts with BlockFi between March 2019 and November 2022, with a final approval hearing scheduled for December 2025.

🛡️ US Bill Proposes "Neo-Privateers" to Combat Cybercrime

  • Arizona lawmaker David Schweikert introduced the "Scam Farms Marque and Reprisal Authorization Act of 2025," authorizing private individuals to take action against cybercriminals involved in cryptocurrency theft.
  • The bill categorizes cybercrimes as 'acts of war' against national security and suggests using seized assets to establish a national cryptocurrency reserve.

🔍 Thai Police Arrest Man in $50M Crypto-to-Gold Laundering Scheme

  • Thai authorities arrested a 33-year-old South Korean man accused of helping a call center gang launder over $50 million in cryptocurrency (primarily Tether) into gold bars.
  • The suspect reportedly managed crypto accounts that converted funds into gold purchases exceeding 10 kilograms (worth approximately $1 million) per transaction.

đź’Ľ Brazil Implements 17.5% Crypto Tax, Ending Small Gains Exemption

  • Brazil has enacted a 17.5% tax on all cryptocurrency capital gains, eliminating previous exemptions for small trades and signaling a global trend toward tighter crypto taxation.
  • Other countries including Portugal, Germany, and the UK may follow suit as governments increasingly target digital assets for revenue generation amid financial pressures.

Technical Analysis
Bitcoin - Bitcoin has broken through the floor of a rising trend channel in the short term. This indicates a slower rising rate at first, or the start of a more horizontal development. The currency has support at points 113200 and resistance at points 117400. Volume tops and volume bottoms correspond badly with tops and bottoms in the price. This weakens the currency. The currency is overall assessed as technically neutral for the short term.

Ethereum - Ethereum 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 currency is testing resistance at points 4800. This could give a negative reaction, but an upward breakthrough of points 4800 means a positive signal. RSI diverges negatively against the price, which indicates danger of a reaction downwards. The currency is overall assessed as technically slightly positive for the short term.