US SEC Approves Trump Media's $2.3 Billion BTC Reserve Private Placement
Truth Social, the social media company of former US President Donald Trump, announced that the S-3 filing for a $2.3 billion private placement related to Bitcoin reserves submitted to the US Securities and Exchange Commission (SEC) has been formally approved. Trump Media had previously announced the issuance of a $2.3 billion private convertible bond through contracts with approximately 50 institutional investors. This is the largest private placement related to a listed company's Bitcoin reserves.
Foreign Media: White House Rejects 'Trump Conflict of Interest' Clause in Cryptocurrency Regulation Bill
Unchained Crypto reported, citing well-informed sources, that the White House has conveyed to the House of Representatives its intention to reject the clause related to Donald Trump's conflict of interest in the Cryptocurrency Market Structure Bill (CLARITY). The media outlet explained that recently, Republicans and Democrats in the House have been negotiating to insert a conflict of interest prevention clause, focusing on addressing Democrats' concerns about Trump's potential cryptocurrency misuse. However, the White House reportedly indicated its opposition last week. A source stated, "Republicans and Democrats negotiated in good faith and informed the White House, but the White House refused to insert the conflict of interest prevention clause."
US Crypto Czar: Stablecoin Bill Likely to Pass Bipartisanly After Years
According to Cointelegraph, David Sacks, the White House's Virtual Asset and AI Policy Director (Crypto Czar), said that the GENIUS Stablecoin Regulation Bill, to be voted on in the US Senate on June 17, could pass bipartisanly after years.
Foreign Media: 7 SOL Spot ETF Issuers Submit Securities Registration to SEC
Cointelegraph reported that 7 institutions applying for Solana (SOL) spot ETF issuance submitted their S-1 securities registration to the SEC on the 13th (local time). Bloomberg analyst James Seyfarth commented that the SEC and issuers need time to exchange opinions to coordinate details before the ETF launch, so the probability of SEC approving the SOL ETF next week is low. He added that all application documents submitted by SOL spot ETF issuers include staking-related content, suggesting that the SEC must allow staking in the SOL ETF for its potential launch.
Reuters: Coinbase and Gemini Likely to Obtain European Licenses
Reuters reported, citing informed sources, that US cryptocurrency exchanges Coinbase and Gemini have increased their chances of obtaining licenses to legally provide cryptocurrency-related services across the European Union (EU). However, conflicts between regulatory agencies regarding approval speed and standards are growing. Reuters added that under the new regulations of the MiCA EU cryptocurrency regulation that took effect early this year, licensed companies can provide services across 27 EU countries. Gemini is expected to obtain the EU's first cryptocurrency license in Malta, while Coinbase in Luxembourg.
Consensys-Related Address Purchases Additional $14 Million Worth of ETH via OTC
According to LookOnChain, a Consensys-related whale or institutional address purchased 5,463 ETH (approximately $14 million) via over-the-counter (OTC) trading about 4 hours ago. This address has accumulated 166,199 ETH (approximately $435 million) over the past two weeks, with an average purchase price of $2,618.
Trump Earned $57.35 Million from World Liberty Financial
Donald Trump earned a cumulative $57.35 million through ownership stakes and token sales in the DeFi project World Liberty Financial (WLFI), according to NBC News. Trump disclosed this in a property disclosure document submitted to the US government ethics committee, which consisted of 234 pages, with 145 pages related to stock and bond investment details. The disclosure is based on the end of 2024, so it does not include earnings from his official meme coin Official Trump (TRUMP).
Anonymous Whale Purchases $40.42 Million Worth of HYPE and FARTCOIN
According to OnChain Lens, an anonymous whale address 0xfe6e3ee8cfa2a951a56b623fc2f7de56a5c283bf purchased HYPE and FARTCOIN with $40.42 million USDC about 4 hours ago. The average purchase price for HYPE was $41.16, investing a total of $29.47 million to buy 715,917 HYPE. For FARTCOIN, the average purchase price was $1.15, investing $8.78 million to buy 7.6 million FARTCOIN.
Uphold CEO: XRP Staking is Feasible and Promising
Uphold CEO Simon McLoughlin stated that XRP staking is feasible and promising. In an interview with The Block, he said, "XRP is not a Proof of Stake (PoS) network, so there are implementation challenges, and there's no clear staking mechanism yet. However, through collaboration with the XRP-based DeFi ecosystem Flare (FLR), technical difficulties can be resolved. Flare has sufficient liquidity, and staking functionality can be implemented through FXRP, the XRP wrapped version. Of course, we must avoid interpretations that staking functionality might be considered a security."
Cantor Fitzgerald Adjusts Coinbase Stock Price Target
According to TheBlock, Cantor Fitzgerald, a US investment bank, stated in a memo sent to investors on the 13th (local time) that they have raised the 12-month target price for Coinbase (Nasdaq ticker: COIN) stock from $253 to $292. Analysts added, "In the long term, COIN's role in the cryptocurrency trading sector will help increase market share, and its activities outside of trading will practically change investors' perspective on COIN. While we do not expect a steep rise for COIN this year, there could be a significant change in investor perception from the second half of next year to 2027."
Crypto 'Fear & Greed Index' at 63... Investor Sentiment Slightly Improved
Alternative's self-calculated 'Fear & Greed Index' recorded 63, up 2 points from the previous day. Investor sentiment slightly improved, maintaining the greed stage. The index indicates extreme market fear closer to 0 and extreme optimism closer to 100. The Fear & Greed Index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin market cap proportion (10%), and Google search volume (10%).
Altcoin Season Index at 27... Up 1 point from previous day
CoinMarketCap's 'Altcoin Season Index' recorded 27, up 1 point from the previous day. The Altcoin Season Index is determined by comparing price fluctuations between the top 100 coins (excluding stablecoins and wrapped coins) and Bitcoin. If 75% of the top 100 coins have higher returns than Bitcoin over the past 90 days, it is considered an Altcoin season; otherwise, a Bitcoin season. The closer to 100, the more it is considered an Altcoin season.
Analysis: "If ETH drops to $2,100, it's a good time to buy"
Cointelegraph analyzed that "Considering technical data and Ethereum (ETH) accumulation movements in the market, ETH price dropping near $2,100 suggests a strategic buying opportunity." The media explained, "An ascending channel pattern is observed on the Binance ETH/USDT weekly chart, characterized by consistently creating higher highs and higher lows. If selling pressure increases by breaking the lower support line, it could find support in the $2,100-2,200 range, which has consistently served as a support line from late 2023 to August 2024. Additionally, inflows to the ETH spot ETF are increasing. This week alone, 154,000 ETH flowed into the ETF, which is 5 times the previous weekly average. Considering these trends, ETH dropping near $2,100 could present a good buying point."
Analysis: "BTC Crash, Historically the Best Buying Opportunity"
Cryptocurrency media Cointelegraph reported that "If past patterns repeat, this Bitcoin crash could also be the best buying opportunity." The media explained, "Since 2010, significant Bitcoin drops have been followed by an average rebound of over 64.6%, with a median increase of 17.3%. This suggests that the recent military tensions in the Middle East due to the Israel-Iran war could provide a BTC buying opportunity. Historical patterns show the peak rebound occurs 30-40 days after the event causing the decline, indicating a potential Bitcoin surge could begin in the coming weeks."
BTC Surpasses $106,000
According to Coinness market monitoring, BTC has surpassed $106,000. On the Binance USDT market, BTC is trading at $106,000.
