_Wendy

China is turbocharging its de-dollarization push, leveraging its SCO presidency to expand national currency use, supercharge financial cooperation, and champion a bold Eurasian economic realignment.

China to Use SCO Presidency to Expand National Currencies and Reduce Dollar Use
China is escalating efforts to diminish reliance on the U.S. dollar by prioritizing the use of national currencies in regional transactions, signaling a deeper commitment to de-dollarization across Eurasian economies. At a high-level meeting in Beijing on June 3, Chinese Deputy Prime Minister Ding Xuexiang laid out the country’s strategic objectives in front of finance ministers and central bank leaders.
With China holding the rotating presidency of the Shanghai Cooperation Organization (SCO) in 2025, Ding outlined how Beijing plans to use its leadership role to drive economic and financial coordination. “This year is the year [of presidency] of China,” he said, adding:
We are ready to use this opportunity to work together with other countries – SCO members on development priorities, strengthen financial cooperation, expand payments in national currencies, promote inclusive digital finances and proactively work on creation of the SCO development bank.
China’s agenda reflects its broader goal of establishing alternative financial mechanisms that operate independently of dominant Western systems.
Russia, a key member, echoed these themes with data illustrating the trend’s momentum. Deputy Finance Minister Alexey Lavrov stated that the economies of member countries are expanding at almost twice the global rate, while Russia’s trade with these nations has doubled over the past three years. The share of payments in national currencies has also increased by 50%.
The Russian official emphasized the need for “independent financial infrastructure, resilient to external effects,” arguing that this shift will insulate regional economies from global volatility and enable long-term monetary sovereignty. The ministry added that efforts should now focus on advancing financial autonomy through expanded digital tools, a proposed development bank, and a network of research centers to support fiscal policy coordination.
China’s Finance Minister Lan Fo’an stressed the importance of cooperation in facing global headwinds such as protectionism, geopolitical tensions, and climate-related disruptions. He pointed to new opportunities arising from digitalization and industrial transformation, and reaffirmed Beijing’s commitment to multilateral engagement, stating:
Organization members should firmly support multilateralism, strengthen coordination of the macroeconomic policy and continue deepening practical financial cooperation.

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Bitcoin traded at $105,289 on June 4, 2025, with a total market capitalization of $2.09 trillion. The cryptocurrency’s 24-hour trade volume stood at $24.92 billion, within a daily price range of $105,293 to $106,854.

Bitcoin
On the 1-hour chart, bitcoin exhibited a micro downtrend leading into June 4, characterized by a consistent pattern of lower highs. The most recent rejection occurred at $106,854, confirming this as a short-term resistance. Although a bounce attempt was observed at $104,947, the price failed to clear the $106,000 level with strength. Trading volume patterns reinforced bearish sentiment, with increasing sell-side volume on red candles. As such, a cautious intraday-long position may be considered near $104,500 to $104,900 if volume weakens on further declines.

BTC/USD 1-hour chart via Bitstamp on June 4, 2025.
The BTC/USD 4-hour chart reflects a consolidation phase following a recovery from the $103,100 low. Price action shows signs of indecision, marked by long wicks and a lack of strong directional movement. Key levels to monitor include support at approximately $103,100 and resistance at around $106,800. Despite a few bullish impulses, weak follow-through has stalled momentum. Scalpers and swing traders may observe the $103,000–$103,500 range as a potential accumulation zone, though the upper range near $106,800 remains a formidable barrier.

BTC/USD 4-hour chart via Bitstamp on June 4, 2025.
From a broader perspective, the daily chart indicates that bitcoin remains in a mid-term uptrend despite a recent pullback from the $112,000 high. Support has held firm near the $104,000 level, suggesting a consolidation pattern rather than a full reversal. Resistance is clustered in the $110,000 to $112,000 range, which remains significant after the May rally. The recent spike in trading volume during the price decline indicates possible profit-taking or distribution. Traders may view $104,000–$105,000 as a strategic re-entry zone should selling pressure subside.

BTC/USD 1-day chart via Bitstamp on June 4, 2025.
Oscillators convey a largely neutral outlook. The relative strength index (RSI) stands at 52, indicating equilibrium between buying and selling momentum. The Stochastic oscillator reads 27, and the commodity channel index (CCI) is at −42, both also suggesting non-directional momentum. The average directional index (ADX) at 20 reflects a lack of a strong prevailing trend. Notably, the momentum indicator at −3,957 and the moving average convergence divergence (MACD) at 1,404 both signal a short-term negative bias.
Moving averages (MAs) paint a divided picture. Short-term indicators such as the exponential moving average (EMA) and simple moving average (SMA) for 10, 20, and 30 periods all suggest a selling environment. In contrast, the 50, 100, and 200-period EMAs and SMAs are still firmly bullish, supporting a longer-term upward trend. This divergence reinforces the current narrative of short-term caution within an otherwise intact macro uptrend. Investors and traders alike may consider adopting a range-bound strategy until a decisive breakout or breakdown occurs.
Bull Verdict:
Despite short-term weakness, bitcoin continues to hold key mid-range support near $104,000, with longer-term moving averages firmly bullish. If current consolidation persists and the price reclaims $106,800 with volume, a return toward the $110,000–$112,000 resistance zone appears likely, sustaining the broader uptrend.
Bear Verdict:
Momentum and MACD indicators suggest weakening market strength, and failure to break above $106,000 signals vulnerability. A drop below $103,000 could trigger a broader correction, shifting sentiment bearish in the short term and potentially invalidating the mid-term uptrend structure.

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Institutional bitcoin demand is exploding as fiscal alarm bells ring louder, with major firms racing to secure digital assets amid mounting debt, sovereign downgrades, and fiat distrust.

Bitcoin Demand Soars With Grayscale Citing Institutional Panic Over Fiat
Crypto asset manager Grayscale Investments published its May 2025 market report on June 2, detailing how escalating U.S. fiscal imbalances have accelerated corporate demand for bitcoin. With the House of Representatives passing the “One Big Beautiful Bill Act” on May 22 — legislation projected to add between $3 and $5 trillion to the national deficit over the next decade — institutional interest in non-sovereign assets has intensified. Moody’s downgrade of the U.S. sovereign credit rating to double-A on May 16 further fueled market concerns. Grayscale wrote:
U.S. fiscal risks seem to be generating demand for bitcoin, including in the form of ‘bitcoin treasury’ corporations — public companies holding bitcoin on their balance sheet.
Major corporations stepped up their bitcoin strategies in May. Strategy (also known as Microstrategy) added 27,000 bitcoin to its balance sheet, valued at roughly $2.8 billion. The firm’s market capitalization remains significantly higher than the value of its holdings, reflecting robust investor interest. Other companies are entering the space. Twenty One Capital — a venture by Tether, Bitfinex, and Softbank — debuted with 42,000 BTC. Bitcoin Magazine CEO David Bailey converted KindlyMD into Nakamoto Holdings, planning to raise $700 million to acquire bitcoin and replicate the model globally.
Trump Media & Technology Group announced a $2.5 billion fundraising effort to pursue similar bitcoin acquisitions. Grayscale emphasized the core driver behind these moves:
Demand for bitcoin tends to rise when investors become concerned about the credibility of fiat money systems.
The report warned that the nation’s fiscal course poses broader economic challenges: “The U.S. government is not close to default, but the unsustainable debt path increases the risk of macro mismanagement over time and increases investor interest in non-sovereign stores of value like gold and Bitcoin.” Meanwhile, firms are branching beyond bitcoin into ether ( ETH), solana ( SOL), XRP, and even novelty tokens like the Trump memecoin.
Despite the proliferation of crypto treasury strategies, Grayscale noted that demand may taper as spot crypto exchange-traded products (ETPs) become more accessible. Still, the firm remains bullish on the asset class’s outlook: “In the months ahead, crypto markets are likely to be driven by many of the same trends: macro demand for bitcoin in the context of stagflation risks and tariff uncertainty, an improving regulatory environment in the United States and overseas, and innovations in blockchain-based AI and other areas.”

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JPMorgan CEO delivers a dire wake-up call as he warns that internal chaos could dethrone the U.S. dollar and shatter American global supremacy.

JPMorgan CEO Jamie Dimon Questions Future of US Dollar as Reserve Currency Amid Domestic Decline
JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon issued a stern warning at the Reagan National Economic Forum on Friday, asserting that the most serious threat to the United States does not come from abroad, but from within its own borders.
Dimon, who has led the largest U.S. bank for nearly two decades, characterized America’s internal mismanagement as “extraordinary” and warned of its consequences on everything from military dominance to economic credibility. “That stuff is going to kill us,” he said, pointing to fiscal missteps at every level of government and specifically calling out public pensions and budget planning failures. His central concern: the weakening case for the U.S. dollar as the world’s reserve currency. Dimon shared:
I always get asked this question: ‘Are we going to be the reserve currency?’ And no, if we are not the preeminent military and the preeminent economy, in 40 years, we will not be the reserve currency. That’s a fact, just read history.
He emphasized that the U.S. has added $10 trillion in debt in just five years, pushing the national debt to 100% of GDP and placing the peacetime deficit at nearly 7%.
While acknowledging China as a capable and complex global competitor, the JPMorgan Chase chief executive shifted the spotlight to domestic vulnerabilities that he believes could undermine America’s standing in the world. “I’m not as worried about China. China is a potential adversary. They’re doing a lot of things well. They have a lot of problems. What I really worry about is us. Can we get our own act together? Our own values, our own capability, our own management?” he stated during the forum.
Amid the grim assessment, Dimon reiterated the need for rapid reform. He has cautioned that protectionist policies must not isolate the U.S. from its global partners, warning against what he calls the “America alone” scenario. While he affirmed Warren Buffett’s confidence in American resilience, Dimon stressed that urgency is now essential, stating:
This time is different. This time we have to get our act together and we have to do it very quickly.
Meanwhile, crypto advocates continue to argue that alternatives like bitcoin may serve as a long-term hedge against the very fiscal instability Dimon warns about, offering decentralized protections against currency depreciation and centralized policy failures. Nonetheless, the JPMorgan boss recently emphasized that the U.S. should prioritize stockpiling military equipment and critical resources—such as guns, ammunition, tanks, planes, drones, and rare earth elements—rather than bitcoin or any other digital assets.

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Bitcoin is surging into the spotlight as Coinbase’s CEO and Elon Musk sound alarms on U.S. debt, signaling the crypto’s rise as a serious reserve currency contender.

Elon Musk Supports Coinbase Outlook: Bitcoin May Topple US Dollar as Reserve Currency
Coinbase CEO Brian Armstrong voiced concern on June 3 on social media platform X over the ballooning U.S. national debt, which recently surpassed $36.9 trillion. His remarks came in response to a widely circulated post by World of Statistics, which outlined the dramatic year-over-year increase in federal debt levels stretching back to 1966. The chart highlighted the relentless pace of government borrowing over several decades and revealed a steep climb from $23.2 trillion in 2019 to $36.9 trillion projected for 2025. This data has ignited renewed public debate over Washington’s fiscal strategy and its potential consequences for the global financial system.
Armstrong specifically addressed the lack of congressional accountability in tackling deficits and cautioned that failure to correct course could upend the U.S. dollar’s role in the global economy. He stated:
If the electorate doesn’t hold Congress accountable to reducing the deficit, and start paying down the debt, bitcoin is going to take over as reserve currency.
The Coinbase executive added: “I love bitcoin, but a strong America is also super important for the world. We need to get our finances under control.” Armstrong’s statement highlights growing concern within the financial and tech sectors over the sustainability of U.S. debt and fiscal policy. His remarks suggest that continued fiscal mismanagement could erode trust in U.S. financial systems, reinforcing the argument that bitcoin may function as a hedge against declining confidence in traditional institutions.
Elon Musk, CEO of Tesla and Spacex, reposted Armstrong’s warning on X that continued government overspending could lead to bitcoin overtaking the U.S. dollar, and replied to it with an image of the American flag, indicating support.
The billionaire also separately responded to the global debt statistics by saying, “Congress is making America bankrupt.” He criticized the spending bill dubbed “One Big Beautiful Bill” as wasteful and warned it would raise the federal deficit to $2.5 trillion, placing unsustainable debt on citizens.
While Musk has made limited public statements about bitcoin, his companies and personal holdings show substantial involvement in cryptocurrency. Onchain data from Arkham Intelligence indicates Tesla holds 11,509 BTC, while Spacex owns 8,285 BTC. Musk has also disclosed that he personally owns bitcoin ( BTC), ether ( ETH), and dogecoin ( DOGE), with bitcoin making up the majority. These investments highlight his continued presence in the crypto market through both corporate and personal assets.

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With this investment, Tether leads Orionx’s Series A funding round for an undisclosed amount, aiming to expand the company’s foothold in Latam. The region is considered a fertile market for stablecoin-based financial services, as it has the second-largest proportion of unbanked adults.

Tether Leads Orionx Series A Funding Round
Tether, the leading stablecoin company, has announced a strategic investment in Orionx, a Chile-based, stablecoin-focused financial services company. The undisclosed investment closes Orionx’s series A funding round and positions Tether as the leader in this process.
The funds will be leveraged to accelerate the expansion of Orionx’s solutions across Latam, having already a foothold in several countries in the region, including Chile, Peru, Colombia, and Mexico.
Orionx’s systems enable the integration of stablecoins for several use cases, including serving businesses with platforms capable of completing cross-border payments and providing fiat ramps.
With this investment, Tether reaffirms its focus on the Latam market, positioning solutions to help consolidate cryptocurrency as an alternative for the region. In this sense, Tether CEO Paolo Ardoino stated that this move not only supported a “high-impact company” but also advanced Tether’s vision of “making stablecoin-powered financial tools accessible to underserved communities across the region.”
Tether’s focus in Latam is not gratuitous. According to E-Marketer, the region is home to the second-largest proportion of unbanked adults, making it a fertile market to implement stablecoin-based solutions. The company also relocated its headquarters to El Salvador, establishing a base that will allow it to focus on emerging markets with no easy access to U.S. dollars.
Joel Vainstein, CEO of Orionx, highlighted the significance of this move for the company’s operations. He declared:
Having Tether, the undisputed global leader in stablecoins, by our side will allow us to accelerate this path with digital, flexible, and scalable solutions.
The move is part of a series of investments made by the stablecoin giant to diversify its income sources, injecting funds in several fields, including artificial intelligence, green energy, cryptocurrency mining, and even agriculture.

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Ethereum-based credit protocol 3Jane has raised $5.2 million in a seed round led by Paradigm to build a scalable infrastructure for uncollateralized, crypto-native credit.

Paradigm Backs 3Jane in Bid to Reinvent Onchain Credit
3Jane, a protocol focused on creating uncollateralized credit rails for decentralized finance (DeFi), has exited stealth mode with a $5.2 million seed round. The round was led by Paradigm, with participation from Coinbase Ventures, Wintermute Ventures, Robot Ventures, Bodhi Ventures, and Breed.
A group of well-known angels also joined the round, including Andre Cronje (Yearn), Guy Young (Ethena), Julian Koh (Ribbon), Kain Warwick (Synthetix), Laurence (Wildcat), Zabeer (Split Capital), Joshua Lim (Arbelos), Yuchen (BounceBit/OKX), Octoshi, Alfaketchum, and DeFi Dad.

Source: 3Jane Protocol documentation.
3Jane positions itself as a crypto-native alternative to traditional banking credit systems, offering USDC-denominated credit lines to traders, yield farmers, businesses, and artificial intelligence (AI) agents. Unlike conventional DeFi lending platforms, which rely on overcollateralization, 3Jane explained that it enables borrowing against credit scores, DeFi assets, centralized exchange (CEX) assets, bank deposits, and future cash flows—without upfront collateral.
According to 3Jane, DeFi lacks a scalable credit primitive. Overcollateralized lending is capital inefficient, while unsecured lending is often limited to institutions or reputation-based deals. Traditional finance (TradFi) and banks remain cautious due to risk and regulatory constraints. 3Jane disclosed on Wednesday that it aims to fill this gap by creating a peer-to-pool credit market native to Ethereum, with a focus on unlocking the estimated $60 billion in productive crypto capital across EVM chains.
The protocol supports a two-token system: USD3, a stablecoin-yieldcoin backed by active credit lines, and sUSD3, which offers levered yield with subordinate claims. Credit risk is managed via a mix of onchain and off-chain credit data using Cred Protocol, Blockchain Bureau, and VantageScore 3.0 via zkTLS.
To enforce repayment and manage defaults, 3Jane leverages onchain auctions with U.S. debt collectors. Its phased rollout starts with fine-tuning credit models, onboarding suppliers, and gradually expanding unsecured lending. Each cycle improves underwriting accuracy and compresses credit spreads.

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K Wave Media Inc. has entered into an agreement to raise up to $500 million by selling ordinary shares, with a significant portion earmarked for building a bitcoin-focused treasury.

K Wave Media Enters $500M Deal to Fuel Bitcoin-Centric Treasury and Growth
The Nasdaq-listed company (KWM) announced the securities purchase agreement with Bitcoin Strategic Reserve KWM LLC on June 4. Proceeds will support its bitcoin-centric digital asset treasury strategy, working capital needs and mergers and acquisitions to expand its Korean content and K-pop businesses.
K Wave stated it will allocate a major part of the funds from share sales under the facility to purchasing, long-term holding, and yield optimization of bitcoin (BTC), aiming to be among the first publicly traded media companies integrating BTC directly into core treasury operations. Plans also include operating Lightning Network nodes and investing in BTC-native infrastructure.

KWM shares skyrocketed following the announcement as the stock was up more than 126% at 3:24 p.m. Eastern time on Wednesday afternoon.
Positioning itself as “the Metaplanet of Korea,” K Wave explicitly references Japan’s Metaplanet Inc. The company believes combining public market access with a focused bitcoin treasury initiative will resonate with global investors. It sees its growing media businesses, BTC treasury, and BTC utilization enabling consumers to experience its content and K-pop merchandise in a Web3 environment, acting as a growth catalyst.
Key strategic initiatives involve acquiring and holding BTC as the primary corporate reserve asset, reinvesting BTC yields into more bitcoin and infrastructure, and allowing consumers to purchase KWM content and K-pop merchandise using BTC in Web3. “K Wave Media’s bold adoption of bitcoin as a treasury reserve asset is a visionary move that signals the growing convergence between digital media and decentralized finance,” said Choi Pyeungho, chairman of the board.
Co-Interim CEO Ted Kim emphasized bitcoin‘s role beyond value storage: “Bitcoin offers not just a store of value, but a foundation for innovation, independence, and global scalability. By embedding BTC into our core strategy, we’re reinforcing our commitment to decentralization, agility, and future-facing value creation.” The step aims to help KWM expand within the K-pop ecosystem, including concert management and music distribution.
Founded in 2023 and headquartered in the Cayman Islands with operating subsidiaries in South Korea, K Wave Media is a diversified entertainment company focused on high-quality Korean content, K-pop merchandising, and investments. It is the first Korean media alliance listed on Nasdaq.

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