- Regulation & Policy: The Bank of England aims to match the US in stablecoin regulation. US lawmakers are reportedly meeting to discuss crypto legislation amid government shutdown concerns. Canada is also moving towards stablecoin regulations.
- Institutional Adoption: Franklin Templeton launches a tokenized USD money market fund in Hong Kong. Citi and DTCC affirm the viability of tokenized collateral, urging regulatory adaptation. Brevan Howard, Galaxy, and Weiss invest in Canaan’s Bitcoin mining venture. Robinhood’s crypto trading revenue increased significantly.
- Stablecoins & Payments: Circle now permits users to buy certain weapons with USDC, adhering to legal boundaries. Tangem introduces Visa payments via Paera, enabling USDC spending through a self-custodial hardware wallet. Ripple’s RLUSD will power Mastercard credit card settlements on the XRP Ledger. Chainlink and Apex Group are testing onchain stablecoin compliance.
- Market Trends & Analysis: Bitcoin supply held at a loss is at 2024 levels, suggesting a potential market reset. Galaxy has trimmed its 2025 Bitcoin price target to $120K. Analysts are watching key Bitcoin support levels closely. ETH experienced a price drop to $3K, potentially setting up a $7B short squeeze.
- DeFi & Security: Balancer released a preliminary report on the $116M hack, labeling it as a sophisticated attack. ZKSync is planning to revamp its tokenomics model.
- Other Notable News: CMT Digital secured $136M for blockchain startup investments. Monad Foundation announced an airdrop date. Stellar (XLM) broke key resistance amid heavy volume.
Analysis
- Regulatory Focus: Global regulators are increasingly focused on stablecoins and digital asset frameworks, indicating a move towards greater oversight and integration of crypto into traditional finance.
- Institutional Interest: Despite market volatility, institutional interest in crypto remains strong, driven by tokenization and infrastructure development.
- Market Correction: The market is showing signs of correction.