🚀 Bitwise Moves Towards NEAR Protocol ETF Launch

➡️ Bitwise, a crypto asset manager, has taken a significant step towards launching a NEAR Protocol-focused exchange-traded fund (ETF) by filing registration documents for a Delaware statutory trust. This entity was registered on April 24, 2025 with CSC Delaware Trust Company listed as its registered agent. Delaware statutory trusts are often used for structuring ETFs due to their legal flexibility and tax efficiency.

📝 To proceed with the ETF launch, Bitwise must submit a detailed proposal to the U.S. Securities and Exchange Commission (SEC). This proposal must include information about custody, market surveillance, and investor protections. However, SEC approval is not guaranteed and can take months or even years, especially for crypto-related products.

📈 This filing is part of a larger industry trend to introduce ETFs that track cryptocurrencies beyond just bitcoin and ethereum. There are currently over a dozen applications pending with the SEC for spot funds linked to assets like SOL, LTC, HBAR, ADA, and XRP. This reflects a growing demand for diversified crypto exposure amid changing regulations.

💼 Bitwise already manages a spot bitcoin ETF and a spot ether fund. The NEAR Protocol, which is a layer one blockchain focused on decentralized applications, has a market capitalization of approximately $3.1 billion as of April 2025.

➡️ Delaware is a popular jurisdiction for ETF filings due to its efficient trust registration process. However, the SEC has been cautious about approving non-bitcoin and non-ether crypto ETFs. Former SEC Chair Gary Gensler emphasized the need for stricter compliance frameworks in the past.

🔄 With SEC Chair Paul Atkins now leading the regulatory body, there may be potential for change. Final decisions on pending applications are expected to set important precedents for future crypto fund launches.

🌐 Ethena Labs Integrates USDe Synthetic Dollar into TON Blockchain

🚀 Ethena Labs is set to launch its synthetic dollar, USDe, and its staking version, tsUSDe, on The Open Network (TON) blockchain in May 2025. This move will provide Telegram's 1 billion users with access to dollar-denominated savings through self-custodial wallets.

➡️ In partnership with the TON Foundation, USDe will be integrated into popular TON-compatible wallets and decentralized exchanges (DEXes), including Telegram's native Wallet, Tonkeeper, and Mytonwallet. Users will have the ability to purchase and stake USDe, earning yields similar to existing options like toncoin (TON) or Tether's USDT.

💰 USDe serves as a crypto-native alternative to the dollar and can be staked to receive tsUSDe, which generates annual percentage yields (APY) paid in TON. To incentivize early participation, users holding up to 10,000 tsUSDe in qualifying wallets will receive an additional 10% APY boost in TON until the end of 2025.

📌 Ethena Labs has specifically designed tsUSDe for TON's decentralized finance (DeFi) framework to encourage greater community engagement. The companies also plan to introduce additional reward initiatives to promote the expansion of TON's DeFi ecosystem.

🔗 USDe will be the first major asset to connect with TON using Layerzero's cross-chain messaging infrastructure. Current USDe holders will be able to bridge their tokens to TON via Stargate Finance when the integration goes live.

📉 Bitcoin and Ether ETFs Experience Net Outflows, Ending Bullish Streak

🔄 After over a week of continuous gains, bitcoin and ether ETFs faced net outflows on April 30. Bitcoin ETFs saw a loss of $56 million, while ether ETFs experienced a slight dip of $2.36 million, interrupting their recent upward trend.

📊 The 8-day inflow streak for bitcoin ETFs was broken with a net outflow of $56.23 million. Leading the withdrawals was Fidelity’s FBTC, which lost $137.49 million, followed by Ark 21shares’ ARKB with $130.79 million. Other notable outflows included Grayscale’s GBTC and Bitwise’s BITB, which saw losses of $31.96 million and $23.02 million respectively.

➡️ Despite a significant inflow of $267.02 million into Blackrock’s IBIT, it was insufficient to offset the overall losses. The total trading volume was $2.39 billion, with total net assets decreasing to $108.58 billion.

📉 Ether ETFs also faced challenges after four days of inflows, recording a modest net outflow of $2.36 million. This was primarily due to Grayscale’s ETHE which saw an exit of $7.13 million and Bitwise’s ETHW losing $1.02 million. However, Fidelity’s FETH brought in $5.08 million, partially mitigating the decline.

🔍 Total trading activity for ether ETFs was $176.42 million, with net assets slightly dropping to $6.17 billion. It remains uncertain whether this pullback indicates a significant shift in the market or if it is merely a temporary pause in the inflow momentum.

💰 Procap Acquisition Corp. Seeks $200 Million in IPO for Fintech Ventures

📝 Procap Acquisition Corp., led by Anthony Pompliano, has filed with the U.S. Securities and Exchange Commission (SEC) to raise $200 million in an initial public offering (IPO). The company, incorporated in the Cayman Islands, plans to merge with or acquire a business in the financial services sector.

📊 The firm will offer 20 million units at $10 each, with each unit consisting of one Class A ordinary share and one-third of a redeemable warrant. These units are expected to list on Nasdaq under the symbol "PCAPU." However, Procap has not yet identified a target business or held substantial discussions with potential acquisition candidates.

⏳ The company has 24 months from the IPO closing to complete a merger, which can be extended with shareholder approval. Additionally, the sponsor has committed to purchasing 430,000 private placement units at $10 each, totaling $4.3 million.

➡️ Brent Saunders, chairman and CEO of Bausch + Lomb, will serve as a special adviser to Procap. He previously chaired Vesper Healthcare, which merged with The Beauty Health Company in 2021. Bloomberg reported that the firm may focus on "digital assets, fintech, [and] asset management."

📈 Procap's strategy likely involves leveraging Pompliano's social media influence and financial experience to identify a suitable target that could benefit from public market access and broader investor engagement. The company's leadership also includes CFO Catalina Abbey, who has prior experience at APFO Inc. and Grant Cardone Enterprises.

➡️ Monero's Rise Amidst Bitcoin Theft: A Year of Outperformance

📈 Monero (XMR) has recently gained attention due to hackers converting 3,520 stolen BTC into XMR. This privacy-focused cryptocurrency has significantly outperformed both BTC and ETH this year.

📊 In 2025, Monero has shown impressive market returns, increasing in value from early January to May. It rose from about $197 in January to $285 by early May, marking a 45% gain. This spike was particularly notable in April, coinciding with the high-profile Bitcoin theft that was later converted into Monero.

Over the last 12 months, XMR has risen 120% against the U.S. dollar.

💰 This money-laundering incident heightened interest in Monero due to its privacy features. It triggered a significant price increase at the end of April, with the price rising from $234.59 on April 28 to $258.13 by April 29. Additionally, Monero's network saw several developments in 2025, including the launch of version 0.18.4.0 on April 5.

🔒 The latest upgrade, along with research into optimized ring signatures and the FCMP++ optimization contest, boosted users' trust in the protocol's effectiveness and privacy. While XMR delivered a 45% return since January, BTC only increased by 3.83%, and ETH faced a 44% decline.

🟢 Looking at the broader 12-month period, BTC rose by 64%, ETH fell by 38%, and XMR appreciated by 120%. Despite facing widespread delistings from major exchanges, XMR has thrived. However, it still trades over 47% below its all-time high of $542 set seven years ago.

♾ Looking ahead, Monero's resilience suggests its growing appeal among privacy-conscious individuals. As it carves out a distinct niche, Monero and other privacy-oriented cryptocurrencies may increasingly separate from mainstream counterparts, thriving on the principles of uncompromising privacy.

📉 Crypto Market Overview: Gains and Losses

📊 On May 4, the crypto market cap stood at $2.97 trillion after a week of volatility, with some assets gaining while others faced losses. The overall market experienced a modest 0.71% dip in capitalization.

📈 Leading the weekly gainers was fellaz (FLZ), which surged 66.05% to $2.12. It was followed by virtual protocol (VIRTUAL), rising 44.89% to $1.638 per unit. Other notable performers included Hyperliquid (HYPE) with a 19.33% increase to $20.99, flare (FLR) up 18.62% to $0.0195, and Monero (XMR) gaining 18.51% to close at $270.32. Kadena (KDA) appreciated by 18.3%, settling at $0.6605, while Akash network token (AKT) rose 16.03% to $1.444. Bitcoin’s dog (DOG) also saw a 14.88% increase, reaching $0.00275.

📉 However, several altcoins experienced significant corrections. Movement (MOVE) led the decliners with a 27.03% drop to $0.1751. It was followed by the official trump token (TRUMP), which slid 24.16% to $11.20 per coin, and worldcoin (WLD) lost 19.95%, trading at $0.944. Other notable losers included Berachain (BERA) down 19.72% to $2.91, MANTRA DAO (OM) dropping 18.32% to $0.4185, and Kaito (KAITO) falling 17.80% to $0.7937.

📊 Despite a slight 24-hour dip in total market cap, Bitcoin posted a 2% gain over the week, while ETH saw a rise of 2.5%.

💰 Tim Draper Predicts Bitcoin's Infinite Value Amid Currency Collapse Concerns

📉 Tim Draper, a well-known venture capitalist and early bitcoin investor, recently expressed his views on the future value of bitcoin. He suggested that if current monetary trends and geopolitical tensions persist, bitcoin could potentially be valued infinitely in U.S. dollars. Draper stated,

Bitcoin might be worth an infinite amount of USD.

💔 He drew parallels to historical events, notably the hyperinflation of the Confederate dollar during the Civil War. As trust in the currency eroded, its value plummeted, leading people to exchange it for U.S. dollars. Draper pointed out that the U.S. Dollar Index is currently facing its worst start to a year in four decades. He warned that if geopolitical tensions escalate, confidence in the dollar could further decline. In contrast, he argued that

Bitcoin will continue to have open and transparent record-keeping and be easy to store.

🥇 Draper also challenged the traditional view of gold as a safe-haven asset. He asserted,

And forget gold. Gold doesn’t play in the same league as bitcoin. It has real challenges around storage and transportation.

He noted that some governments are already incorporating bitcoin into their strategic reserves as a hedge against potential currency collapse.

⚠️ The investor cautioned against relying solely on cash or gold in times of crisis. He advised,

You want to have enough bitcoin to hold you and your family over for six months to a year. Or, if hyperinflation happens, that bitcoin might last a lot longer.

While there are differing opinions on bitcoin's volatility and its effectiveness as a hedge, Draper's comments contribute to the ongoing discussion about currency resilience and the evolving landscape of monetary policy in a digital age.

📉 Market Fatigue: Cryptocurrencies, Precious Metals, and Equities Decline

➡️ Today, cryptocurrencies, precious metals, and equities experienced a decline following a recent rally that had boosted markets over the past week and a half. Signs of fatigue are becoming evident, with momentum stalling across various asset classes. Bitcoin fell to a mid-day low of $102,622.

📉 During Wednesday's mid-day session, BTC dropped to $102,622 after reaching an intraday peak of $104,836. Technical indicators, such as the daily relative strength index (RSI), suggest that overbought conditions have given way to persistent selling pressure. This followed two unsuccessful attempts to break through the $105,000 resistance level. Both BTC and ETH saw a decline of around 1%, while other top tokens experienced even greater losses.

➡️ The broader crypto market declined by 1.12% in the past 24 hours. Trade volume remained steady at approximately $146.31 billion, similar to Tuesday's figures. A few tokens—WAL, RAY, PENGU, and FORM—managed to post gains between 5% and 10%. In contrast, EOS, BRETT, WIF, and PIexperienced losses ranging from 9.2% to 10%.

♾ Major U.S. stock indices also saw mixed results, with the Nasdaq holding up slightly amid rising bond yields. The NYSE Composite slipped 0.55% to 19,614.91. The Dow Jones Industrial Average dipped 0.28% to 42,022.91, while the S&P 500 inched down 0.02% to 5,885.17 as of 1:45 p.m. Eastern. Persistent recession forecasts and a tightening stance by the Federal Reserve continue to weigh heavily on investor sentiment.

💰 Cardano Price Prediction: ETF Speculation Heats Up

📈 Speculative interest in Cardano is rising due to recent developments in Solana's ETF filings. Traders are anticipating a potential 2023 Solana-like surge for ADA. There is growing confidence among speculators regarding ADA's ETF approval before the end of 2025, which is a significant factor driving optimistic year-end price predictions for Cardano.

🔍 Polymarket bettors have increased the odds of approval to 64%, up from 45% just three days ago. However, many investors remain cautious about acting on rumors. Recent positive price movements for Solana have been overshadowed by delays in SOL's ETF filings, which raises concerns about Cardano's prospects. Similar scrutiny has previously slowed down past approvals, and there is a possibility that Cardano's decision deadline in October could be postponed, affecting its short-term appeal in the crypto market.

➡️ Despite this, clarity on Solana's situation could help clear regulatory obstacles and pave the way for other ETF filing evaluations later this year.

📊 The broader market remains cautiously optimistic. While better-than-expected inflation data for April have improved sentiment, Fed Chair Jerome Powell's hesitance regarding rate cuts has moderated risk appetite.

🚀 Cardano is currently testing a 7-month falling wedge pattern. Although momentum has weakened after a breakout, ADA is retesting previous resistance as support. If it crosses below this level, it could invalidate the pattern entirely. However, if the structure holds, there is potential for a 100% surge from current levels, targeting $1.435.

📉 Cardano's correction period seems to be nearing its end. The RSI has cooled to a neutral 48 after being above the oversold threshold, indicating that selling pressure is easing. However, the MACD line continues to widen its gap below the signal line after a recent death cross, suggesting continued short-term weakness.

🔄 A retest of past support at $0.685, aligned with the 0.5 Fib retracement level, could mark a correction bottom if bulls fail to defend the current level. If momentum returns alongside broader adoption and ecosystem growth, ADA's long-term trajectory could still point towards the $100 milestone.

📉 Bitcoin's Implied Volatility Hits Yearly Lows Amidst Market Calm

➡️ Bitcoin is currently experiencing a period of low activity, with its implied volatility reaching one-year lows. The cryptocurrency is trading within a narrow range of $100,000 to $110,000, showing minimal price movement. Despite options pricing suggesting that Bitcoin appears "cheap", the actual price fluctuations have been even less pronounced, indicating a sideways market drift.

📊 Historical data indicates that summer slowdowns in volatility are not uncommon. Over the past two years, front-end volatilities typically decrease leading into July. A similar trend was observed in 2023, when one-month at-the-money volatilities dropped from 80v in March to 40v by midsummer as Bitcoin struggled to surpass the $70,000 mark.

🔍 Currently, there are no clear fundamental drivers to trigger a breakout for Bitcoin, which remains range-bound. Recent macroeconomic news, including a stronger-than-expected US jobs report, affected equities and gold but left Bitcoin largely unchanged. Additionally, spot ETF inflows have decreased, perpetual open interest has softened, and while bullish sentiment persists, it appears to be delayed rather than extinguished.

🔄 In response to these conditions, options traders are adjusting their positions. There has been significant rolling of July topside strikes out to September, indicating that investors are shifting their expectations for a substantial rally to later in the third quarter.

♾ Looking ahead, traders are focusing on upcoming US economic data, such as the CPI, PPI, and unemployment claims reports, as potential catalysts for market movement. However, until these events unfold, the market may continue to remain in a neutral state, characterized by fading excitement and tightening trading ranges.

➡️ Bitcoin's Resilience Amidst Global Turmoil

📉 Last week, while global headlines were dominated by nuclear threats, trade tensions, and political upheaval, Bitcoin experienced only a slight dip, finishing about 3.5% lower than the previous Friday. The focus shifted from the crypto sphere to macro factors, particularly geopolitics and macroeconomics.

➡️ On June 1, 2025, the world edged closer to nuclear conflict as Ukraine's SBU launched Operation Spiderweb, targeting Russian bombers. Kremlin spokesman Dmitry Peskov promised retaliation, indicating that peace talks have stalled. This incident not only heightens the risk of nuclear escalation but also poses new challenges for international shipping.

📦 The U.S.-China trade relationship also faced strain as Washington accused Beijing of violating a tariff rollback deal, which China denied. This ongoing tension is impacting supply chains, with container freight costs from Shanghai to LA surging by 57% last week.

🤖 Additionally, a public feud between Donald Trump and Elon Musk unfolded on social media. Despite the negative implications of these events for Bitcoin and other risk assets, the cryptocurrency only saw a minor decline. There are reasons to remain optimistic about Bitcoin's future performance.

📈 Ram Ahluwalia, CEO of Lumida, expressed a bullish outlook on a recent podcast, stating,

These geopolitical risks are nothing burgers… Just zoom out. What drives asset prices, especially stock prices, is earnings growth.

He pointed out recent earnings growth, stabilizing interest rates, and disinflation trends as positive indicators.

⚡️ In conclusion, while the past week was tumultuous on the global stage, Bitcoin's minor pullback suggests resilience. As macro conditions stabilize, Bitcoin is expected to regain its momentum and return to the spotlight soon.

➡️ Bitcoin's Resilience Amidst Global Turmoil

📉 Last week, while global headlines were dominated by nuclear threats, trade tensions, and political upheaval, Bitcoin experienced only a slight dip, finishing about 3.5% lower than the previous Friday. The focus shifted from the crypto sphere to macro factors, particularly geopolitics and macroeconomics.

➡️ On June 1, 2025, the world edged closer to nuclear conflict as Ukraine's SBU launched Operation Spiderweb, targeting Russian bombers. Kremlin spokesman Dmitry Peskov promised retaliation, indicating that peace talks have stalled. This incident not only heightens the risk of nuclear escalation but also poses new challenges for international shipping.

📦 The U.S.-China trade relationship also faced strain as Washington accused Beijing of violating a tariff rollback deal, which China denied. This ongoing tension is impacting supply chains, with container freight costs from Shanghai to LA surging by 57% last week.

🤖 Additionally, a public feud between Donald Trump and Elon Musk unfolded on social media. Despite the negative implications of these events for Bitcoin and other risk assets, the cryptocurrency only saw a minor decline. There are reasons to remain optimistic about Bitcoin's future performance.

📈 Ram Ahluwalia, CEO of Lumida, expressed a bullish outlook on a recent podcast, stating,

These geopolitical risks are nothing burgers… Just zoom out. What drives asset prices, especially stock prices, is earnings growth.

He pointed out recent earnings growth, stabilizing interest rates, and disinflation trends as positive indicators.

⚡️ In conclusion, while the past week was tumultuous on the global stage, Bitcoin's minor pullback suggests resilience. As macro conditions stabilize, Bitcoin is expected to regain its momentum and return to the spotlight soon.

💰 Bitdeer Technologies Group Upsizes Convertible Note Offering

📈 Bitdeer Technologies Group, a Singapore-based bitcoin mining company, has increased its private offering of convertible senior notes from $300 million to $330 million. The 4.875% notes, which mature on July 1, 2031, were sold to qualified institutional buyers and come with a 13-day option for initial purchasers to buy up to an additional $45 million in principal. The sale is expected to close on June 23, 2025.

Bitdeer estimates net proceeds of approximately $319.6 million, or $363.3 million if the option is fully exercised.

💸 The company plans to use the proceeds for several purposes: $129.6 million will go towards a related zero-strike call option transaction, $36.1 million for cash consideration in concurrent note exchanges, and the remainder will be allocated for data center expansion, ASIC-based mining rig development, manufacturing, working capital, and general corporate purposes.

🔗 Alongside this offering, Bitdeer entered into a zero-strike call option transaction with an affiliate of an initial purchaser, paying a $129.6 million premium for the right to receive approximately 10.2 million shares at expiry. This transaction is designed to facilitate hedging activities by certain note investors, which may influence the market price of Bitdeer shares or notes.

Bitdeer also completed private transactions exchanging approximately $75.7 million principal amount of its existing 8.50% notes due 2029 for $36.1 million in cash and 8.1 million Class A ordinary shares.

📉 Despite recent challenges, including a 6.5% drop in shares over the past day and a 45% decline since January, Bitdeer (Nasdaq: BTDR) has seen a 27% gain since its market debut. The company noted that holders of exchanged notes unwinding hedges could significantly impact its share price.

🌐 Bitcoin Under Pressure: Traders Brace for Further Downside

🔔 Bitcoin under pressure as the cryptocurrency market starts the week on a cautious note. Bitcoin continues to trade below the psychologically important $70,000 level, with traders increasingly focused on reducing risk and preparing for potential further downside rather than opening new long positions.

✨ There are signs of stabilization, but confidence remains limited. The market appears to be pausing — not in panic, but without strong conviction to aggressively buy.

💡 Over the past 24 hours, BTC has fallen by around 3%, settling near the $69,000 area. Despite the pullback, price action remains well above recent lows around $60,000, indicating that buyers are still stepping in on dips.

🔒 That said, Bitcoin has struggled to regain upward momentum following last week’s sharp sell-off. This has kept traders on edge, with growing debate over whether the market is experiencing an extended correction or preparing for a deeper downside phase.

🔖 As uncertainty persists, investors continue to reduce risk exposure — a trend that is most visible in altcoins. Ethereum and other major tokens have underperformed Bitcoin, which is typical during periods of heightened caution.

❓ Ethereum is holding above the $2,000 level, but broader crypto indices remain under pressure, highlighting that the weakness is market-wide rather than tied to individual projects.

🆕 Uniswap Labs Introduces AI Skills for Enhanced DEX Operations

🚀 Uniswap Labs has launched seven open-source artificial intelligence (AI) "Skills" aimed at improving decentralized exchange (DEX) operations. Announced on February 20, 2026, these Skills provide structured interfaces that enable AI agents to execute swaps, manage liquidity, and deploy pools directly on the Uniswap protocol. This initiative seeks to standardize machine interactions with DEX infrastructure, reducing reliance on fragile developer-stitched scripts.

💡 Founded by Hayden Adams in 2018, Uniswap has become a cornerstone of decentralized finance (DeFi), facilitating over $1 trillion in cumulative DEX trading volume across Ethereum and more than 16 other chains. The protocol's evolution from v1 to v4 introduced features like concentrated liquidity and customizable hooks, aligning naturally with programmable, agent-based strategies.

🔔 The seven AI Skills focus on essential operational areas: v4-security-foundations for safer hook development; Configurator for pool and parameter setup; Deployer for smart contract and pool launches; Viem-integration for EVM connectivity; Swap-integration for token swaps; Liquidity-planner for managing LP positions; and Swap-planner for optimizing execution strategies. Developers can easily install the full suite through the Github repository, which primarily uses Python and Typescript.

🔔 Banco do Brasil Expands Pix Payments to Argentina

🌍 Banco do Brasil, a state-controlled Brazilian bank, has introduced a new feature that allows Brazilian customers to use the Pix payments system in Argentina. This marks the first time Pix has been extended beyond Brazil's borders. The service was developed in collaboration with Banco Patagonia, an Argentine bank under Banco do Brasil's control.

💬 Felipe Prince, Vice President of Internal Controls and Risk Management at Banco do Brasil, emphasized the significance of this launch:

The launch of Pix abroad reinforces Banco do Brasil’s international presence and our commitment to innovation in payment methods focused on people’s well-being.

📱 Brazilian customers can now make payments in Argentina by scanning a QR code with their preferred banking app. The Pix system manages all background operations, including converting Brazilian reais to Argentine pesos and transferring funds to the merchant.

🌐 Looking ahead, Banco do Brasil is considering expanding this service to other countries, particularly in Latin America, Europe, and Asia, where there are large Brazilian communities.

⭐️ Pix has become Brazil's most popular payment system, used by over 160 million individuals and 15 million businesses, accounting for nearly half of all financial transactions in the country. Transactions are free for retail users 24/7, and fees for merchants are lower compared to credit cards and other payment options.

🔔 Cango Inc.: From Bitcoin Mining to AI Infrastructure

📉 Cango Inc., a company that transitioned from auto finance to bitcoin mining in November 2024, reported its first full year as a miner with $688.1 million in revenue but ended with a $452.8 million net loss. This loss was primarily due to non-cash charges related to equipment impairments and bitcoin price-linked accounting adjustments. Despite this, Cango achieved an adjusted EBITDA of $24.5 million, indicating positive operating performance when excluding non-cash and one-time items.

🔍 In 2025, Cango mined 6,594 BTC and generated $675.5 million in mining revenue, which constituted the majority of its total income. However, the company faced significant losses due to a $338.3 million impairment on mining machines and $96.5 million in fair value losses related to bitcoin-collateralized receivables. The fourth quarter mirrored these challenges, with revenue of $179.5 million and a net loss of $285 million, attributed to bitcoin price movements and transformation-related costs.

🌍 Cango aggressively scaled its mining operations in 2025, averaging 18.07 BTC per day across over 40 sites worldwide. By February 2026, its deployed hashrate reached 50 EH/s. To address its leverage, the company sold 550 BTC in January and 4,616 BTC in February, using the proceeds to repay bitcoin-backed debt and improve liquidity. A significant sale of over 4,400 BTC in February generated approximately $305 million, reflecting a treasury strategy focused on capital efficiency.

🚫 No Taxpayer Bailouts for Crypto Firms: U.S. Lawmakers Take a Stand

🔔 U.S. lawmakers are tightening federal safeguards against taxpayer rescues for cryptocurrency firms amid growing concerns over potential risks to the traditional financial system. On March 19, Senator Richard Durbin (D-IL) introduced the “No Bailout for Crypto Act,” which aims to prevent taxpayer-backed assistance for digital asset companies during market downturns.

When crypto crashes, everyday Americans should not be on the hook for saving a failed industry—as they were during the 2008 financial crisis,

Durbin stated. The legislation is co-sponsored by several senators, including Elizabeth Warren (D-MA) and Bernie Sanders (I-VT), and has received support from various consumer advocacy groups.

⚠️ The bill outlines restrictions on federal agencies providing emergency support to entities involved in crypto trading or issuance. It also prohibits the use of federal funds to stabilize losses related to digital asset activities, even if these firms are affiliated with federally insured institutions. This aims to prevent indirect access to government backstops and ensures that federal banking regulators cannot waive these restrictions.

💼 Additionally, the proposal emphasizes accountability within the crypto sector by clarifying that participation in volatile markets does not create expectations of federal rescue mechanisms. This positions the legislation as a safeguard against moral hazard, placing financial responsibility on investors and companies involved in digital asset operations.

🔔 Bitcoin Surges Past $71,000 Amid Easing Tensions with Iran

📈 Bitcoin experienced a rapid recovery on Monday, rising from $68,500 to $71,801 within an hour. This surge was triggered by U.S. President Donald Trump's unexpected decision to back away from his ultimatum to "destroy" Iranian power plants. The news brought a wave of relief to risk asset markets. Although the cryptocurrency later stabilized around the $71,000 mark, it still gained 3.2% over the day, reclaiming a market capitalization of $1.4 trillion.

💡 The relief was particularly evident in the energy sector. As the threat of regional power outages diminished, oil prices plummeted: Brent crude fell by approximately 8-13% from daily highs, returning to around $100 per barrel. This sharp reversal in energy prices acted as a catalyst for broader markets. Despite this spike, Bitcoin remains down for the week, trading 4% below its seven-day high.

📉 Market data shows a gradual decline from the peak of $76,013 on March 17 to a Sunday low of $67,354. Initially, the asset seemed to trade counter to the conflict's developments, briefly acting as a hedge in the form of "digital gold." However, after more than three weeks of military actions, Bitcoin's correlation with global stocks has strengthened as March progresses.