Summary
gm, Bitcoin surged past $87,000 amid global economic uncertainty and a weakening US dollar. Ethereum co-founder Vitalik Buterin proposed replacing the Ethereum Virtual Machine (EVM) with RISC-V architecture to enhance scalability, potentially improving efficiency by up to 100 times. Meanwhile, Strategy continued its Bitcoin accumulation strategy, adding 6,556 BTC for $555.8 million, bringing its total holdings to 538,200 BTC. In regulatory news, Paul Atkins was sworn in as the new SEC Chair, signaling a potential shift towards a more crypto-friendly regulatory approach. These developments underscore the ongoing evolution of the crypto ecosystem and its growing importance in the global financial landscape.

News Headlines
📉 Bitcoin Miners Face Dire Conditions as Revenue Plummets

  • Bitcoin miners are struggling with plummeting revenues despite Bitcoin's price around $84,000, due to the recent halving event and increased operational costs.
  • The key metric, hashprice, is near a five-year low at $44.00 PH/s, making it challenging for miners to maintain profitability.

💻 Kling 2.0: State-of-the-Art AI Video Generator Impresses Creators

  • Kling 2.0, an upgrade to Kuaishou's AI video generator, has received praise for its advanced motion and improved visual coherence.
  • The upgrade offers multi-elements editing and specialized components for video and image creation, appealing to filmmakers and marketers.

🌐 Circle Launches Stablecoin-Based Network for Global Payments

  • Circle has launched the Circle Payments Network (CPN), a platform enabling 24/7 real-time global transfers using USDC and EURC stablecoins.
  • CPN aims to replace traditional cross-border payment systems with a modern, programmable digital settlement solution.

💱 US Dollar and Stocks Tumble as Bitcoin Gains Amid Fed Pressure

  • The US dollar and stock markets have fallen sharply following President Trump's calls for lower interest rates.
  • In contrast, crypto markets have remained stable, with Bitcoin reaching a four-week high of $88,500.

🏦 Major Crypto Firms Explore Bank Charter Applications Amid Evolving Regulations

  • Crypto companies like Circle and BitGo are exploring applications for bank charters or licenses in light of evolving US stablecoin regulations.
  • This shift comes as the US restructures its stablecoin regulatory framework, with new legislative efforts advancing through Congress.

Market Metrics

Fundraising & VC
1. Upexi (Post IPO, $100M) - Solana-based treasury model
2. ZND (Undisclosed, $20M) - Crypto asset management platform
3. EdgeX Labs (Strategic, Undisclosed) - Decentralized Web3 infrastructure platform

On-chain Data
1. Space ID (ID) token unlocked today ($2.24M, 1.28%)
2. MANTRA DAO (OM) token unlock in 1 day ($8.43M, 1.73%)
3. Renzo (REZ) token unlock in 1 day ($8.56M, 30.05%)
4. Venom (venom) token unlock in 2 days ($8.95M, 3.1%)
5. AltLayer (ALT) token unlock in 3 days ($5.20M, 6.04%)

Regulatory
📊 Over 70 US Crypto ETFs Await SEC Decision

  • More than 70 cryptocurrency ETFs are set for review by the SEC this year, including altcoins and derivatives.
  • Approval of these ETFs is anticipated as institutional interest in crypto grows.

🏛️ New Bill Targets Crypto Tax Haven in Puerto Rico

  • Rep. Nydia Velázquez introduced legislation to prevent investors from using Puerto Rico as a crypto tax haven.
  • The bill aims to require certain investors to pay both local and federal taxes on digital asset capital gains.

⚖️ KuCoin Settlement with CFTC in Flux

  • KuCoin's settlement with the CFTC faces delays due to policy shifts under the Trump administration.
  • The CFTC is now prioritizing leniency towards crypto firms, complicating ongoing enforcement actions.

🔍 UN Report Highlights Illegal Crypto Mining as Cybercrime Tool

  • The UN Office on Drugs and Crime warns of rising illegal crypto mining as a key element of transnational organized crime.
  • Criminal groups, particularly from East and Southeast Asia, are exploiting regions with lax oversight.

🛡️ Telegram CEO Vows to Exit Markets Before Compromising User Privacy

  • Pavel Durov announced Telegram would exit markets like France rather than implement encryption backdoors.
  • This stance comes in response to EU lawmakers pushing for legislation requiring messaging apps to create police access.

Technical Analysis
Bitcoin - Bitcoin has broken through the ceiling of a falling trend channel in the short term. This indicates a slower falling rate initially, or the start of a more horizontal development. The currency has broken up through resistance at points 87300. This predicts a further rise. In case of negative reactions, there will now be support at points 87300. The currency is assessed as technically positive for the short term.

Ethereum - Ethereum shows weak development in a falling trend channel in the short term. This signals increasing pessimism among investors and indicates further decline for Ethereum. The currency is approaching resistance at 1640 points, which may give a negative reaction. However, a break upwards through 1640 points will be a positive signal. Negative volume balance weakens the currency in the short term. The currency is overall assessed as technically negative for the short term.

Governance & Code
💰 Yearn DAO | Rotate Multisig Signer (Preliminary Discussion)
- This proposal aims to replace Monoloco with Ephy on Yearn's main multisig, at the request of Monoloco.

🐒 ApeCoin DAO | iPFi - The Premier IP (Intellectual Property) Rewards Protocol
- This proposal seeks $120,000 in APE tokens to launch iPFi, a protocol to reward ApeChain IP holders, in the next three months, covering development, legal contracts, ApeChain integration, and marketing via their questing platform.