Summary
gm, Kraken announced its plans to acquire futures trading platform NinjaTrader for $1.5 billion, aiming to enhance its market position and capitalize on the convergence of traditional finance and cryptocurrency. The TON Foundation successfully raised over $400 million through token-based investments, highlighting growing interest in the Telegram ecosystem. Meanwhile, Bitcoin's volatility has surged to a 6-month high amid macroeconomic uncertainties, with the 30-day volatility percentage increasing to 3.6%. These events underscore the ongoing evolution and volatility in the cryptocurrency market, as major players seek to expand their offerings and adapt to changing economic conditions.

News Headlines
🌐 Coinbase in Talks to Acquire Derivatives Exchange Deribit

  • Coinbase is in advanced discussions to acquire Deribit, a leading cryptocurrency derivatives exchange, potentially valued between $4-5 billion.
  • This acquisition aims to enhance Coinbase's existing derivatives platform, which currently focuses on futures trading.

💼 Tether Seeks Big Four Audit Firm for Full Financial Audit

  • Tether is pursuing a Big Four accounting firm for a comprehensive audit of its asset reserves.
  • This aims to confirm 1:1 backing of USDT with traditional currency reserves and other assets.

🏛️ SEC Considers Allowing Crypto Startups to Raise Funds with NFTs

  • SEC Commissioner Hester Peirce suggests allowing crypto projects to raise funds through NFTs.
  • A framework could be established to determine certain NFTs as non-securities.

🏦 European Central Bank Calls for CBDC to Counter Stablecoins

  • The ECB's chief economist emphasized the need for a European CBDC to address challenges posed by stablecoins and large, non-European tech firms.
  • A digital euro is proposed as a mechanism to ensure the European financial landscape remains competitive and resilient against external influences.

Market Metrics

Fundraising & VC
1. Strategy (Post IPO, $711M) - Bitcoin treasury company and business intelligence solutions
2. Stoffel (Pre Seed, $1.6M) - Multi-party computation solutions
3. HashBeaver (Strategic, Undisclosed) - Cloud mining services for cryptocurrencies

On-chain Data
1. Space ID (ID) token unlocked today ($20.52M, 8.74%)
2. Coin98 (C98) token unlock in 1 day ($1.04M, 1.59%)
3. Renzo (REZ) token unlock in 1 day ($813.89K, 2.22%)
4. Casper (CSPR) token unlock in 1 day ($561.03K, 0.39%)

Regulatory
🏛️ Trump Administration Eyes Blockchain for Foreign Aid Reform

  • The Trump administration is considering using blockchain to reform foreign aid disbursement through USAID.
  • This aims to enhance transparency and efficiency in aid distribution.

🌪️ U.S. Treasury Lifts Sanctions on Tornado Cash

  • The U.S. Treasury has removed sanctions against the Ethereum mixer Tornado Cash.
  • This decision follows a court ruling that smart contracts cannot be classified as property.

🏦 German Regulator BaFin Blocks Ethena's USDe Stablecoin Sales

  • BaFin halted sales of Ethena Labs' USDe stablecoin due to "serious deficiencies."
  • The regulator imposed restrictions on asset reserves and website access.

💰 Crypto Super PAC Network to Back GOP House Candidates in Florida

  • A crypto-funded Super PAC network is supporting Republican House candidates in Florida.
  • $1.2 million in ads will back Randy Fine, with $345,000 supporting Jimmy Patronis.

💼 South Korea Plans Sanctions Against Unlicensed Crypto Exchanges

  • South Korea is set to impose sanctions on crypto exchanges like BitMEX and KuCoin.
  • The move targets platforms operating without proper licensing as virtual asset service providers.

Technical Analysis
Bitcoin - Bitcoin shows weak development 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 80000 and resistance at points 92600. The currency is assessed as technically slightly negative for the short term.

Ethereum - Ethereum is in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Ethereum. The currency has support at points 1870 and resistance at points 2750. The volume balance is negative and weakens the currency in the short term. RSI diverges positively against the price, which indicates a possibility for a reaction up. The currency is overall assessed as technically slightly negative for the short term.

Governance & Code
🦄 Uniswap DAO | Deploy Uniswap v2 and v3 on Soneium
- This proposal aims to acknowledge the Uniswap v2 and v3 deployments on Soneium as canonical.

💰 Compound DAO | Strengthening Compound Governance using Staker
- This proposal seeks to introduce COMP Staker, a staking mechanism designed to increase governance participation and align incentives among COMP holders.