Compiled by: Nona
Fear and Greed Index: 59 (Greed)
Bitcoin Price: $116,630
BTC/ETH Spot ETF Capital Flows (8.7)
BTC Net Inflow: $280.69 M
ETH Net Inflow: $222.34 M
Regulation/Macro
Trump nominates Stephen Miran to serve as a Federal Reserve governor
Trump stated on Truth Social that he has chosen current Chairman of the Council of Economic Advisers Stephen Miran to serve as a member of the Federal Reserve Board, with a term until January 31, 2026. He will also continue to seek a long-term replacement for the Federal Reserve position. Trump remarked, 'Stephen Miran holds a Ph.D. in economics from Harvard University and performed excellently during my first administration. He has been with me since the beginning of my second term, and his expertise in economics is unparalleled; he will do exceptionally well.'
Vitalik supports the 'Ethereum Asset Reserve Company' but warns against excessive leverage
Ethereum co-founder Vitalik Buterin stated in an interview on the Bankless podcast that he supports the 'Ethereum Asset Reserve Company'. He pointed out that when public companies buy and hold Ethereum, it allows more investors to access the token, as these companies provide more choices for individuals with different financial situations by investing in the Ethereum Asset Reserve Company rather than holding directly. However, Buterin cautioned that Ethereum's future should not come at the cost of excessive leverage. He is concerned that a price drop could trigger a forced liquidation chain reaction, leading to further price declines and damaging reputation.
Trump signs an executive order allowing 401(k) investors to invest in cryptocurrencies and other alternative assets
The White House announced that Trump has signed an executive order allowing 401(k) investors to invest in cryptocurrencies and other alternative assets. The order requires the Labor Secretary to review and clarify the fiduciary duties and related procedures of trustees for alternative asset investments in 401(k) and other defined contribution plans governed by the Employee Retirement Income Security Act (ERISA), and to work with federal agencies such as the Treasury Department and the SEC to promote regulatory adjustments, while also directing the SEC to amend regulations to facilitate the allocation of such assets in retirement savings plans.
Project/Company Updates
Binance partners with Banco Sabadell to allow customers to hold assets outside of the cryptocurrency trading platform
Binance collaborates with Banco Sabadell (BBVA) to allow customers to hold assets outside of the cryptocurrency trading platform. According to the cooperation arrangement, traders' funds will be held in the form of U.S. Treasury securities at BBVA, and Binance will accept these assets as trading collateral.
Animoca Brands and Standard Chartered Bank establish joint venture Anchorpoint to apply for a stablecoin issuance license in Hong Kong
Animoca Brands has established a joint venture, Anchorpoint Financial Limited, in Hong Kong with Standard Chartered Bank (Hong Kong) and HKT, aiming to build a business model focused on issuing and promoting licensed stablecoins. Anchorpoint has formally expressed its intention to the Hong Kong Monetary Authority to apply for a stablecoin issuer license once the stablecoin regulations come into effect in Hong Kong.
Tether acquires a minority stake in the Spanish digital asset platform Bit2Me and leads a €30 million financing round
Tether acquires a minority stake in the Spanish digital asset platform Bit2Me and leads a €30 million financing round, with the transaction expected to complete in the coming weeks. This funding will support Bit2Me's expansion in the EU and strengthen its business in Latin America, particularly Argentina. Bit2Me has received authorization from the Spanish National Securities Market Commission (CNMV) to become a crypto asset service provider (CASP) as a Spanish exchange under the EU's Markets in Crypto-Assets Regulation (MiCA). The MiCA license enables Bit2Me to operate legally in all 27 EU member states. Founded in 2014, Bit2Me has over 1.2 million users and has exceeded €3 billion in transaction volume as of 2025.
SEC and Ripple reach an agreement, both sides jointly withdraw the appeal in the Second Circuit Court
The U.S. Securities and Exchange Commission (SEC) and Ripple reach an agreement, both sides jointly withdraw the appeal in the Second Circuit Court, completely ending this legal dispute. According to the withdrawal documents, both parties will bear their own litigation costs. The ruling made by Judge Analisa Torres in 2023 will become the final judgment: trading of XRP in the secondary market does not constitute securities activity, but large sales targeting institutional investors constitute illegal securities issuance.
Sharplink raises $200 million to expand its Ethereum treasury, increasing its holdings by 21,959 Ethereum
Public company Sharplink Gaming (SBET) completes a $200 million private placement at a price of $19.50 per share, led by four global institutional investors. This round of financing will be used to expand its Ethereum treasury, which is expected to exceed $2 billion after full deployment. SharpLink stated that the company's core strategy is to accumulate ETH, stake ETH, and increase the per-share ETH holding.
Huajian Medical signs strategic cooperation with HashKey Group to enhance its Ethereum treasury strategy
Hong Kong-listed Huajian Medical (01931.HK) has signed a global strategic cooperation framework agreement with HashKey Group, aiming to create a 'Global Enhanced Ethereum (ETH) Treasury'. This will drive through Ethereum reserves and the tokenization of innovative drug intellectual property rights (RWA). This cooperation will leverage HashKey Group's fully licensed compliance ecosystem to provide one-stop digital asset management services for the group, including but not limited to bulk trading execution and cost optimization for Ethereum, global market liquidity support, and exploring the integration paths of crypto asset reserves with real economy assets (especially RWA for innovative medical drugs).
In-depth & Forward-looking
Conversation with Wall Street wizard Tom Lee: Corporate treasury model is superior to traditional ETFs, Ethereum is set for a Bitcoin-like explosive growth
This interview features a dialogue with Bitmine Chairman Tom Lee, deeply analyzing Bitmine's grand vision and meticulous execution, discussing the key role of Ethereum in financialization, compliant staking, and the AI era. This is not only an insight into digital asset allocation but also a forward-looking interpretation of the new round of institutional cycles and financial ecological changes.
Cryptocurrency employment 'minefield' for college students: Issuing tokens and withdrawing liquidity = 4 years in prison, guide to avoiding the six major cryptocurrency offenses
For a long time, the cryptocurrency industry has been a dark forest, requiring vigilance against on-chain security threats as well as the legal blade of the real world. Especially for the inexperienced younger generation, the criminal risks behind actions such as issuing tokens, OTC trading, and manipulating liquidity pools are often vaguely understood.
Opinions
Is the main issue with stablecoins a technological problem, a financial problem, or an industrial problem?
The focus of stablecoins is payment efficiency, the challenge lies in balancing financial regulation, and the emphasis is on the vast economic ecosystem they generate — this reveals a fundamental question: stablecoins are not merely a single-dimensional technological tool, financial product, or industrial phenomenon, but rather a complex system that deeply integrates technology, finance, and industry, with all three being interdependent and shaping each other.
Who killed the cross-chain king Cosmos?
What happened to the Cosmos ecosystem, once seen as the core of the blockchain internet? From being a star project during the 2021 DeFi boom to its current underwhelming market performance, what are the reasons behind this shift?
