Headlines
▌Trump: A clear regulatory framework will be created to allow the United States to lead the future of Bitcoin and encryption
Trump said at the Coinbase "State of Crypto" summit that the United States will be committed to creating a clear and simple market framework that will enable the United States to dominate the future of cryptocurrency and Bitcoin.
▌The US-Iran nuclear negotiations are imminent and the game between the two sides is intensifying
The United States and Iran are scheduled to hold a new round of talks on the Iranian nuclear issue on the 15th. Before the talks, the United States decided to withdraw non-essential US personnel and their families from the US Embassy in Iraq and other places, and the US Secretary of Defense approved the voluntary evacuation of US military families in the Middle East. US President Trump expressed pessimism about reaching an agreement. Iran, for its part, sent out dual signals. On the one hand, it believed that the two sides might even reach an agreement "soon." On the other hand, it warned that if Iran was attacked after the breakdown of negotiations, it would take retaliatory actions and strike at U.S. military bases in the Middle East.
Market
As of press time, according to CoinGecko data:
BTC price is $106,064, up or down -2.4% in 24 hours;
ETH price is $2,655.72, up or down -4.3% in 24 hours;
BNB price is $656.46, up or down -1.7% in 24 hours;
5.1%; the price of DOGE is 0.1821 US dollars, with a 24-hour increase or decrease of -5.7%; the price of XRP is 2.20 US dollars, with a 24-hour increase or decrease of -3.2%.
Policy
▌Trump: Powell is a "idiot" and a 200 basis point rate cut can save $600 billion a year
Trump said he does not intend to fire Federal Reserve Chairman Powell, but called him a "idiot" for not cutting interest rates. Speaking at an event at the White House on Thursday, Trump said a 200 basis point rate cut could save the United States $600 billion a year. "We're going to spend $600 billion a year just because a 'idiot' sits here and says 'I don't see enough reason to cut rates now,'" Trump said. Trump added that if inflation rises, he agrees with the Fed to raise interest rates, "but now that inflation is falling, I may have to do something."
▌Trump: An Israeli attack (on Iran) is likely to happen
US President Trump said that an agreement with Iran is close; he hopes to reach an agreement with Iran; an Israeli attack may ruin the negotiations, and I prefer a more friendly way of cooperation. Something may happen in the near future, and there is a possibility of large-scale conflict (in the Middle East). He hopes to avoid a conflict with Iran. Iran will have to negotiate more difficult negotiations. An Israeli attack (on Iran) is likely to happen.
▌Brazilian Congress considers establishing a strategic reserve of Bitcoin and plans to invest 5% in international reserves
The Brazilian House of Representatives is considering Bill No. 4501 of 2024, which proposes the establishment of a sovereign strategic reserve of Bitcoin (RESBit) and plans to use up to 5% of international reserves to purchase Bitcoin. The bill aims to diversify treasury assets, protect against exchange rate fluctuations and geopolitical risks, promote the development of blockchain technology, and provide support for the Brazilian digital currency (Drex). The reserve will be jointly managed by the Central Bank of Brazil and the Ministry of Finance, using security technologies such as cold wallets and establishing a strict transparency mechanism. The rapporteur, Luiz Gastão, has voted in favor of the bill, emphasizing that a cautious and gradual implementation strategy will be adopted to balance potential benefits and risks.
Blockchain Applications
▌Coinbase to Launch Perpetual Contracts in the United States
Coinbase is about to launch perpetual contract trading in the United States that complies with CFTC regulations. In addition, Coinbase said it will launch the company's first credit card, Coinbase One Card, on the American Express network. This card is limited to Coinbase One members in the United States. Each purchase transaction will be cashed back up to 4% of Bitcoin, and more information will be disclosed in the fall of 2025. Coinbase will also integrate the decentralized exchange (DEX) on the Base network into the main application, enabling access to millions of on-chain assets.
▌Shopify partners with Coinbase and Stripe to promote USDC stablecoin payments
Shopify has teamed up with Coinbase and Stripe to make it easier for merchants to accept payments in Circle's USDC stablecoin, according to two announcements released on Thursday. "Shoppers will be able to pay with USDC on Base using their favorite crypto wallet. By default, Stripe will allow merchants to receive stablecoin payments in their preferred local currency and deposit them into their bank accounts like any other payment they receive," Stripe said in a press release. The service will be available to Shopify merchants in 34 countries, Stripe said. Stripe said that stablecoin payments have settled more than $94 billion in the past two years, with monthly payments growing from less than $2 billion to more than $6.3 billion during that period.
▌Hong Kong Customs joins hands with the University of Hong Kong to develop cryptocurrency tracking tools
Hong Kong Customs has reached a cooperation with the University of Hong Kong to jointly develop a cryptocurrency transaction tracking tool to cope with the growing number of digital asset money laundering cases. Assistant Commissioner of Customs Wong Ho-yin said the move is aimed at combating cross-border financial crimes. According to reports, Hong Kong recorded 39 major money laundering cases between 2021 and May 2025, of which 7 involved cryptocurrencies, including a suspicious transaction involving 1.8 billion Hong Kong dollars (about 229 million US dollars).
▌Uniswap Wallet enables smart wallet function, supports one-click exchange
Uniswap Labs announced that Uniswap Wallet users can now enable the smart wallet function, unlock one-click exchange through bundled transactions, support smarter exchange and lower costs. New wallets created on the Uniswap mobile terminal or browser extension will default to smart wallets. New features in the future will include Gas sponsorship, paying Gas fees with any token, etc.
Cryptocurrency
▌Coinbase CEO: Bitcoin may become the world's reserve currency
Coinbase CEO Brian Armstrong said that Bitcoin may become the world's reserve currency. He also expressed his gratitude to Trump for opening a new era for the crypto industry and called for bringing transactions, innovation and jobs back to the United States.
▌CryptoQuant: Stablecoin market value hits record high of $228 billion
According to CryptoQuant data, the stablecoin market is growing again, with a market value of $228 billion in 2025, a record high of $33 billion, or 17%. The growth was mainly driven by increased trading activity, expanded payment uses, and clearer U.S. regulation under the Trump administration.
▌DeFi Development announces $5 billion in equity financing to increase its holdings of SOL
Nasdaq-listed DeFi Development Corp. posted on the X platform that it has received $5 billion in equity financing to support 1i's continued increase in SOL holdings and accelerate its "SOL per share" (SPS) growth.
▌The US SEC postponed the decision on multiple cryptocurrency ETFs
The US Securities and Exchange Commission (SEC) postponed the decision on Bitwise Dogecoin ETF, Grayscale Hedera Trust and VanEck Avalanche ETF.
▌The US Securities Depository Trust Company (DTCC) is exploring stablecoins
People familiar with the matter said that the US Securities Depository Trust Company (DTCC), a company at the core of the US financial system, is exploring the issuance of a stablecoin, a move that may accelerate the application of digital assets in various markets. It is reported that the company is responsible for processing US stock transactions. Clearing agency.
▌Bitrue hacker converted 16.345 million DAI into ETH and then transferred it to Tornado Cash
According to the on-chain data analyst Ember, the Bitrue hacker is currently using 16.345 million DAI to buy ETH and then wash the ETH through Tornado Cash. These DAI were exchanged for ETH sold at a price of $3,885 in March last year. In April 2023, the hacker stole various tokens worth $23 million from the Bitrue trading platform, and then exchanged these assets for ETH; in March 2024, he sold 4,207 ETH at $3,885 for 1634.5 DAI; 1 hour ago, he transferred DAI and ETH to a new address, and is currently buying DAI for ETH, and then washing ETH through Tornado Cash.
▌In the past 12 hours, the entire network has exploded $555 million, mainly in long orders
Data shows that in the past 12 hours, the total amount of liquidation in the entire network has reached $555 million, of which the amount of long orders exploded is about $505 million, and the amount of short orders exploded is about $50.8141 million.
Important Economic Dynamics
▌The dollar fell to a three-year low, and the euro rose to a three-and-a-half-year high
Trade uncertainty and lower-than-expected U.S. inflation data on Wednesday jointly weighed on the dollar, which extended its decline after breaking below a key level, and fell to a three-year low against a basket of currencies. ECB Executive Board member Schnabel said that as inflation stabilizes near the ECB's target, the (loose) monetary policy cycle "is coming to an end." The euro also rose against the dollar, rising to a three-and-a-half-year high.
▌The probability of the Federal Reserve keeping interest rates unchanged in June is 97.9%
According to CME's "Fed Watch": The probability of the Federal Reserve keeping interest rates unchanged in June is 97.9%, and the probability of a 25 basis point rate cut is 2.1%. The probability of the Federal Reserve keeping interest rates unchanged in July is 75.6%, the probability of a cumulative interest rate cut of 25 basis points is 23.9%, and the probability of a cumulative interest rate cut of 50 basis points is 0.5%.
▌Goldman Sachs: Lowering the probability of a US recession in 12 months to 30%
Goldman Sachs said that it lowered the probability of a US recession in 12 months from 35% to 30%.
Golden Encyclopedia
▌How does the 10-year US Treasury yield affect encryption?
Cryptocurrency yields and stablecoins are part of the broader financial world, and the 10-year Treasury yield affects investor behavior, which in turn affects the cryptocurrency market. With the U.S. dollar being the world’s reserve currency and U.S. Treasuries being the global safe haven, changes in the 10-year Treasury yield can send shockwaves around the world. For cryptocurrency investors, this global impact sets the scene. Rising 10-year Treasury yields could portend a tougher market environment for cryptocurrency prices and yields, especially amid global market turmoil. Conversely, low yields tend to stimulate risk appetite, boosting speculative assets like cryptocurrencies.