Summary
gm, President Trump's exemption of select tech products from tariffs has sparked a rally in Bitcoin, pushing it above $85,000 and signaling renewed risk appetite among investors. Meanwhile, regulatory discussions continue to evolve, with acting SEC Chair Mark Uyeda proposing a temporary regulatory framework to foster innovation in the crypto industry. Additionally, former Binance CEO Changpeng Zhao has vehemently denied allegations of cooperating with US prosecutors against Tron founder Justin Sun, calling the claims baseless and politically motivated.

News Headlines
📊 BlackRock's Crypto Holdings Down $5B, But Inflows Remain Strong

  • BlackRock reported a $5 billion reduction in crypto asset holdings to $50.3 billion due to price declines in Bitcoin and Ethereum.
  • Despite this, the firm saw $3.1 billion in net inflows to its crypto-focused funds, indicating continued investor interest in institutional crypto products.

🔄 Ripple Acquires Hidden Road for $1.25B to Boost XRP Ledger Adoption

  • Ripple made a significant move by acquiring Hidden Road for $1.25 billion to promote its XRP Ledger technology.
  • The acquisition could bring substantial transaction volume to XRP Ledger through Hidden Road's established institutional client base.

🏫 Scottish School to Accept Bitcoin for Tuition, May Launch BTC Reserve

  • Lomond School in Scotland will become the first UK school to accept Bitcoin payments for tuition starting autumn 2025.
  • The school is considering creating a Bitcoin reserve if adoption increases, aligning with growing trends of institutions accumulating Bitcoin.

💰 Crypto Gaming and Gambling Ads Most Expensive for User Acquisition

  • Crypto gaming and gambling advertising campaigns have the highest median cost per wallet at $8.74 for acquiring users with existing crypto wallets.
  • The high costs are attributed to factors like higher churn, speculative behavior, and intense competition in these sectors.

🔍 Study Reveals Factors Driving Global Cryptocurrency Adoption

  • Academic research identifies education levels, human development, democracy, and regulatory quality as key factors promoting higher crypto adoption in countries.
  • Trust emerges as a pivotal factor, with diminished trust in traditional finance correlating with increased interest in cryptocurrencies.

Market Metrics

Fundraising & VC
No fundraising data today.

On-chain Data
1. Cookie DAO (COOKIE) token unlock in 1 day ($5.21M, 11.67%)
2. Sei Network (SEI) token unlock in 2 days ($38.98M, 4.5%)
3. Arbitrum (ARB) token unlock in 3 days ($28.28M, 2.01%)
4. Parcl (PRCL) token unlock in 3 days ($10.21M, 59.75%)

Regulatory
🏛️ SEC Explores Regulatory Sandbox for Crypto Exchanges

  • SEC leadership indicated the possibility of establishing a regulatory sandbox for digital assets, allowing crypto exchanges to experiment with trading tokenized securities.
  • This temporary framework would enable unregistered exchanges to innovate while informing future rulemaking efforts.

💼 Senator Tim Scott Confident in Crypto Bill Passage

  • Senator Tim Scott expects a crypto market structure bill to pass by August 2025, building on progress like the stablecoin regulatory bill introduced in March.
  • Bipartisan support for clear regulatory guidelines is anticipated to establish U.S. dominance in the digital asset space.

🌿 US Senate Bill Proposes Fees for High-Emission Crypto Mining

  • A draft bill in the US Senate proposes fees for data centers serving blockchain networks that exceed federal emissions targets.
  • The Clean Cloud Act aims to address environmental impacts of rising energy demands in crypto mining and AI data centers.

🔍 Judge Rules Against DCG in NYAG Securities Fraud Case

  • A New York judge ruled against Digital Currency Group's motion to dismiss a civil securities fraud lawsuit by the NYAG.
  • The decision allows the case to proceed, highlighting ongoing regulatory scrutiny in the cryptocurrency sector.

Technical Analysis
Bitcoin - Bitcoin has broken the ceiling of the falling trend in the short term, which indicates a slower initial falling rate. The currency is between support at points 84000 and resistance at points 87300. A definitive break through of one of these levels predicts the new direction. The currency is assessed as technically slightly negative for the short term.

Ethereum - Ethereum is in a falling trend channel in the short term. Falling trends indicate that the currency experiences negative development and falling buy interest among investors. The currency has support at points 1420 and resistance at points 1860. The currency is assessed as technically negative for the short term.

Governance & Code
⚖️ Balancer DAO | Deploy kpk Sub-Roles Architecture (Preliminary Discussion)
- This proposal seeks to implement a new Sub-Roles Modifier architecture intended to change how operational roles such as Swapper and Disassembler are managed.

👻 Aave DAO | Further Deprecate sUSD on Aave V3 Optimism (Preliminary Discussion)
- This proposal from Chaos Labs aims to take steps to further deprecate Synthetix's sUSD on Aave V3 Optimism in response to recent technical developments that have compromised sUSD's ability to maintain its peg consistently.