Crypto Emergency

Brazil may invest 5% of its reserves in Bitcoin

Brazil could become the first G20 country to include Bitcoin in its international reserves. The proposed bill allows for investing up to 5% of the $370 billion in state reserves — the document has already passed its first vote in parliament.

The authors of the initiative want Bitcoin to become part of the state strategy: to supplement the reserve basket, reduce dependence on traditional assets, and officially include cryptocurrency in the financial management system.

Unlike El Salvador, where Bitcoin was adopted by presidential decree, Brazil has gone through a parliamentary process. This path may provide the initiative with a solid legal foundation.

Binance resumes operations in Syria after the easing of U.S. sanctions

Binance has reopened access to its digital asset platform for residents of Syria, indicating a significant shift in policy following the recent lifting of U.S. sanctions against Syria. This move will allow individuals living in Syria to access the full range of Binance services, including cryptocurrency trading, staking, stablecoin transfers, and educational content.

This event is a direct result of the U.S. Department of the Treasury's issuance of the Syrian General License 25, which now permits a wide range of transactions that were previously restricted under Syrian sanctions regulations. Binance, like other global exchanges, had prohibited Syrian users from registering or trading in accordance with international restrictions.

Now, residents of Syria can use over 300 digital assets on the platform, including Bitcoin (BTC), Ripple (XRP), Dogecoin (DOGE), Shiba Inu (SHIB), Toncoin, and Bitcoin Cash (BCH). Binance services, including spot and futures trading, staking products, and cross-border transfers via Binance Pay, are now also available in Syria.

Ethereum surpassed Bitcoin in trading volume thanks to ETFs and DeFi: 110 billion dollars a day

Ethereum derivatives outperformed Bitcoin in trading volume, reaching 110 billion dollars a day amid a capital influx into American ETFs and a revival of the DeFi sector.

The trading volume of Ethereum derivatives in the last 24 hours increased by 38% to over 110 billion dollars, exceeding Bitcoin's 84.72 billion dollars, according to Coinglass data. The cryptocurrency itself rose by 4% to 2827 dollars, marking the highest level since February of this year.

Analysts note several key factors contributing to Ethereum's growth. Spot ETFs on Ethereum in the U.S. have shown a steady influx of funds — 16 consecutive days of positive flows leading up to Monday. During this period, funds attracted nearly 890 million dollars, according to SoSoValue data.

The USA and China signed a new trade agreement following negotiations in London

Trump announced the conclusion of a trade agreement with China after marathon talks in London. On Wednesday morning, the U.S. president wrote in his characteristic style on Truth Social in capital letters: "Our agreement with China is concluded, it is subject to final approval by me and President Xi."

According to Trump, China will supply "magnets and any necessary rare earth elements in advance." In return, the U.S. will provide what was agreed upon, including the opportunity for Chinese students to study at American colleges and universities, which, according to Trump, "has always been good for me."

The most interesting part in numbers: the U.S. receives 55% of the tariffs, while China only gets 10%. The U.S. president said the relationship is "excellent," and thanked everyone for their attention to this matter.

Meta's rejection of Bitcoin reflects the skepticism of tech giants

In August 2020, Strategy became the first public company to accept Bitcoin as a primary treasury reserve asset, but not many large tech companies followed suit.

Treasury reserves, sometimes referred to as cash reserves, are held by corporations to fund short-term or emergency obligations. They typically consist of cash or cash equivalents, such as money market funds or three-month U.S. Treasury bills.

Social media giant Meta* holds $72 billion in liquid assets in reserve. However, at the annual meeting on May 28, shareholders rejected a proposal to assess whether Bitcoin could become a future treasury reserve asset. The proposal was rejected by a vote of 1221 to 1.

The price of Dogecoin may break the resistance level at $2.28

The current price dynamics of Dogecoin (DOGE) have attracted the attention of analysts and traders, as the token repeats previous formations that can be interpreted as a signal for the start of yet another major rally.

The fact is that the price of DOGE has consistently risen to the Fibonacci extension level of 1.618 and above. With a market capitalization of over $27.7 billion, Dogecoin is in a critical consolidation phase, and analysts believe that a breakout could be significant.

Cryptocurrency analyst JAVON MARKS noted that in previous bullish cycles, Dogecoin exceeded the Fibonacci level of 1.618. In cycle 1, this target was $0.0074, and in cycle 2, it was around $0.039. Both targets were not only reached but also exceeded. Now cycle 3 sets the Fibonacci level of 1.618 at $2.28.

XRP Ledger supports the tokenization of real assets by Guggenheim

XRP Ledger now offers an innovative new product: Digital Commercial Papers (DCP). This innovative debt instrument is fully backed by U.S. Treasury bonds and has the highest Prime-1 rating from Moody's.

On June 10, Ripple announced that Guggenheim Treasury Services, a subsidiary of Guggenheim Capital, has expanded its offering of Digital Commercial Papers (DCP) on the XRP Ledger (XRPL). Guggenheim Capital is part of the larger Guggenheim Partners LLC, a well-known global investment and advisory firm. As of March 31, the company reported total assets exceeding $349 billion.

The top manager of Binance explains the rise of Bitcoin despite negativity

The price of the first cryptocurrency continues to rise despite the outflow of funds from spot ETFs and social tension in the U.S. Kirill Khomyakov, head of regional markets at Binance in the CIS, Central and Eastern Europe, and Africa, commented on the situation for ForkLog.

The expert identified shifts in the macroeconomic situation as the main reason for the rise. The easing of tensions in trade relations between the U.S. and China and a decline in the dollar index by 8.3% since the beginning of the year have prompted investors to seek alternative assets, one of which is Bitcoin.

Despite a local outflow of funds from Bitcoin funds, the total net inflow into these instruments since their launch in the U.S. has reached $43.4 billion. The expert considers this a sign of sustained interest in the asset from major players.

Bybit Releases Security Update After $1.4 Billion Hack

Bybit, the second largest cryptocurrency exchange in the world by trading volume, has released a comprehensive security update following a $1.4 billion hack in February. On February 21, Bybit was hacked, resulting in the theft of over $1.4 billion in Liquid Staked Ether (STETH), Mantle Staked ETH (mETH), and other ERC-20 tokens. This incident became one of the largest in cryptocurrency history.

To enhance protection, Bybit implemented a three-pronged security update aimed at conducting security audits, strengthening wallets, and improving information security, according to an announcement on June 4.

In the month following the hack, the exchange conducted nine security audits carried out by both internal specialists and independent external experts, resulting in the implementation of 50 new security measures, the announcement stated.

Elon Musk Warns That Interest Payments on U.S. Debt Threaten Spending; Bitcoin-Based Solutions Proposed

Elon Musk has warned about the growing U.S. national debt, stating that interest payments are consuming 25% of all government revenues. In his post on X, he expressed concern that if the current rates of deficit financing continue, the federal government will soon be unable to fund anything other than these debt interest payment obligations.

According to Musk, such a financial trajectory threatens important programs like Social Security, Medicare, and national defense. He characterized the situation as a turning point, stating, 'There will be money only for interest payments and nothing else.'

Musk's warning came at a time when the U.S. national debt is approaching $37 trillion. Interest on this debt exceeds $100 billion a month, amounting to approximately $1.2 trillion a year.

The price of Ethereum has increased by 46% in a month

The price of Ethereum has risen by 46% in the last 30 days. Analysts expect a breakout for the coin. Reasons cited include stable demand for spot ETFs and strengthening market structure.

15-minute chart of ETH/USDT on Binance. Data: TradingView. At the time of writing, the cryptocurrency is trading at $2630. MN Trading founder Michael van de Poppe stated that Ether is "ready for a significant breakout upwards".

Key support is around the $2400 level. The resistance zone is between $2680 and $2850. In his opinion, for the price of the coin to reach a new annual high, it must break through this level. Analyst Rekt Capital noted that Ethereum is trying to establish $2500 as support.

The price of Ethereum has increased by 46% in a month

The price of Ethereum has risen by 46% over the last 30 days. Analysts expect a breakthrough for the coin. The reasons include stable demand for spot ETFs and strengthening market structure.

15-minute ETH/USDT chart on Binance. Data: TradingView. At the time of writing, the cryptocurrency is trading at $2630. MN Trading founder Michael van de Poppe stated that Ethereum is "ready for a significant upward breakthrough."

Key support is around $2400. The resistance zone is between $2680 and $2850. In his opinion, for the coin to reach a new annual high, it must break this level. Analyst Rekt Capital noted that Ethereum is trying to establish $2500 as support.

The price of XRP is gaining momentum

The price of XRP remained stable above the support level of $2.020 and began a steady rise, outperforming Bitcoin and Ethereum. A breakout occurred above the levels of $0.2120 and $0.220.

The bulls managed to surpass the 50% Fibonacci retracement level of the downward wave from the high of $2.3540 to the low of $2.2081. Additionally, the XRP/USD pair broke through the key bearish trendline with resistance at $2.20 on the hourly chart.

The price is currently trading above $2.20 and the 100-hour simple moving average. From a growth perspective, the price may face resistance at $2.2850. This is approximately the 76.4% Fibonacci level of the downward wave from the high of $2.3540 to the low of $2.2081.

The daily chart of Ethereum indicates a price increase amid market uncertainty

Ethereum continues to demonstrate strength, holding above key support levels and outperforming most of the cryptocurrency market despite rising macroeconomic uncertainty.

Since reaching a low in April, the price of ETH has more than doubled, gaining over 100%, and shows no signs of slowing down. While many assets have faced strong selling pressure amid global market volatility, Ethereum remains resilient, showing steady buying interest and maintaining an upward trend.

Lead analyst Carl Runefelt holds an optimistic view, noting that the price of Ethereum remains stable on the daily timeframe. According to Runefelt, if Bitcoin starts to move in a sideways trend, Ethereum may take the opportunity to break out of the current consolidation triangle and lead the next phase of market growth.

The largest banks in the U.S. are in preliminary talks to create a joint venture for stablecoin issuance: WSJ

Leading banking institutions in the U.S. are considering the possibility of creating a joint venture for stablecoin issuance as the country accelerates the process of cryptocurrency regulation, the Wall Street Journal reported on Thursday. Companies co-owned by JPMorgan, Bank of America, CitiGroup, Wells Fargo, and other large commercial banks are in talks about a potential joint project for stablecoin issuance, WSJ reported, citing unnamed sources familiar with the situation.

These companies include the real-time payments network The Clearing House and Early Warning Services LLC, the fintech company behind the Zelle peer-to-peer payment system. The report also notes that negotiations among American banks are preliminary and may change, and the final outcome largely depends on the development of stablecoin legislation in the country.

The Ministry of Finance of Russia is preparing to allow the tokenization of real assets in a pilot mode

This was announced by the director of the financial policy department of the Ministry of Finance, Alexey Yakovlev.

Currently, a concept for the tokenization of real sector assets is being developed, and a draft federal law is being prepared that will allow the launch of the process in the format of a pilot project. The Ministry of Finance is currently formulating specific business cases and solutions to practical problems.

This includes corporate tokenization, including shares in limited liability companies. This may involve creating clear rules for accounting and turnover of shares, as well as addressing collateral issues within smart contracts.

FIFA is creating its own blockchain based on Avalanche

The World Football Association will create its own layer one blockchain based on Avalanche technology. This continues the development that began in 2022 with the collection of NFTs for the World Cup in Qatar on Algorand. The new Avalanche L1 blockchain is being developed as an independent, powerful, and customizable blockchain based on the Avalanche ecosystem.

Avalanche is known for its high speed, low fees, and modular scalability - qualities that are critically important for large organizations like FIFA. Avalanche has just completed the 'Avalanche9000' upgrade, aimed at attracting new developers and simplifying the creation of custom blockchains.

FIFA has not yet announced any specific projects beyond NFTs, but the transition to its own blockchain gives hope for future development. In addition to digital collectibles, the new platform may eventually be able to directly display tickets, fan reward systems, real-time statistics, or even fantasy leagues - all within a Web3 environment that provides users with true digital ownership rights.

Bitcoin reached a new high on Binance and then fell by almost 3%

The price of the main cryptocurrency updated its historical record, albeit for just an hour. The exchange rate of Bitcoin on the largest cryptocurrency exchange Binance broke the historical maximum that had been held since the end of January 2020 at around $109,300.

The new price record was set at $109,845 in the pair with USDT - almost immediately after reaching this level, the rate reversed and lost about 3% from the peak in roughly an hour. At the time of publication, Bitcoin is trading at around $106,600 (8:55 PM Moscow time).

Bitcoin began to rise sharply at the start of the American trading session and first updated the record in the pair with the dollar on the largest American exchange Coinbase. After that, the price updated the maximum in the pair with USDT on Binance.

South Korea Tightens Cryptocurrency Regulations Ahead of Institutional Players Entering the Market

South Korea is tightening regulations on digital asset operations, preparing to allow institutional players into its cryptocurrency market by introducing new rules for non-commercial cryptocurrency sales and stricter listing standards for exchanges.

On May 20, the Financial Services Commission of South Korea (FSC) stated at its fourth meeting of the Virtual Assets Committee that it has completed work on new comprehensive measures. The updated rules, which will come into effect in June, will allow cryptocurrencies to be sold by both non-profit organizations and virtual asset exchanges, but under new standards.

Non-profit organizations must have at least five years of verified financial history to be eligible to receive and sell donations in virtual assets. Additionally, they will need to establish internal committees to review donations to assess the feasibility of each donation and liquidation strategy.

XRP Outpaces the Market in Capitalization and Network Growth

In the first quarter of 2025, XRP managed to increase its capitalization, while BTC, ETH, and SOL went into the negative. According to Messari, the total capitalization of the three leading coins decreased by 22%. In contrast, XRP grew by almost 2% to $121.6 billion.

When compared to last year, the growth is even more noticeable. The market capitalization of XRP has increased 2.5 times. Meanwhile, the price of the coin itself has hardly changed. Over the quarter, it added only half a percent, which can be explained by the expansion of supply. The number of tokens in circulation increased by approximately 1.4%.

Not only is the capitalization strengthening. The XRP Ledger network has demonstrated steady growth for the second consecutive quarter. One of the most notable indicators is the number of active addresses per day. Over the quarter, this figure increased by 142%. This may indicate that the network continues to grow and attract new users. According to Messari analyst Matt Kreyzer, in the first quarter, XRPL showed growth across all key metrics.