📰 Top Headlines
1. U.S. Senate Likely to Pass Stablecoin Regulation
The Senate is on track to approve the GENIUS Act, which would establish consumer protections and guidelines for stablecoins. It bans lawmakers (but not the President’s family) from profiting off them, raising concerns given Donald Trump’s crypto interests like World Liberty Financial and a Trump-branded meme coin .
---$WCT
2. Justin Sun’s Tron to Go Public via Reverse Merger
Tron Group, helmed by Justin Sun, plans to go public through a reverse merger with Nasdaq-listed SRM Entertainment, which will be rebranded as Tron. The deal includes a $100 M TRX investment and valuation near $210 M .
---$WCT
3. Trump Media Files for Bitcoin‑Ether ETF
#TRUMP Media & Technology Group has applied to launch a crypto ETF (75% Bitcoin, 25% Ether) with Crypto.com as its liquidity partner. They’ve also been fundraising for a potential “Bitcoin treasury” strategy .
---$WCT
4. #TRUMP Crypto‑Driven Wealth Tops $600 M
Trump's latest financial disclosure shows over $600 M in crypto-related income, contributing to total assets exceeding $1.6 B. This intensifies concerns about potential conflicts tied to stablecoin legislation .
5. Crypto Market Overview: Rally & Warning Signs
Global crypto market cap around $3.31 T, down ~1% over 24 hrs. Bitcoin hovering near $106–108 K .
Bitcoin rose ~3% to $108,600, close to its all-time high. XRP and Chainlink had notable gains .
However, some analysts warn this rally could be a bull trap, due to geopolitical uncertainties .
6. Institutional Moves & Outlook
Bitcoin treasury strategies are gaining momentum: firms like Trump Media and others now collectively hold nearly 100,000 BTC .
Crypto funds’ assets hit record highs in May as easing trade tensions boosted interest .
🔍 Snapshot Summary
Asset Trend/Level
Bitcoin ~$106–109 K, near ATH
Market Cap ~ $3.31 T (slightly down)
Institutional Growing BTC treasuries, crypto ETFs