š Market Momentum
Bitcoin (BTC) is trading around $96,380, nearing the $100K milestone. This surge is driven by institutional investments, such as a $2 billion deal involving Binance and the Trump-backed USD1 stablecoin.
Ethereum (ETH) is priced at approximately $1,828, maintaining strength amid ongoing developments in decentralized finance (DeFi) and proposed network upgrades.
Ripple (XRP) has unlocked 1 billion XRP from escrow, totaling about $2.2 billion. This move coincides with rumors of a potential acquisition of Circle, the issuer of USDC.
šļø Regulatory Developments
The UK's Financial Conduct Authority (FCA) plans to ban retail investors from borrowing money, including via credit cards, to purchase cryptocurrencies. This initiative aims to protect consumers and ensure market integrity.
In the U.S., the Trump administration has reversed several crypto-related legal actions, issuing pardons and loosening regulations, fostering a more favorable environment for the crypto industry.
š§ Technological Innovations
Ethereum is considering significant upgrades, including a proposal to increase the network's gas limits by a factor of 100, aiming to enhance scalability. Additionally, discussions are underway to replace the Ethereum Virtual Machine (EVM) with RISC-V, a modern open-source instruction set.
Sam Altman's Worldcoin project has launched in the U.S., introducing biometric iris scans for user identification as part of a global universal basic income initiative.
š§ Institutional Moves
MicroStrategy has expanded its Bitcoin holdings to 553,555 BTC, valued at approximately $37.9 billion. Despite missing quarterly financial expectations, the company remains committed to its Bitcoin investment strategy.
Japan-based Metaplanet issued $24.8 million in bonds to acquire more Bitcoin and announced plans to raise $250 million via a new U.S. subsidiary in Florida.
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