The US and China Reach Trade Agreement in Geneva
The White House and official Chinese sources announced that an important trade agreement had been reached during high-level economic and trade talks held in Geneva, Switzerland, on May 10–11. US Treasury Secretary Scott Bessent and Trade Representative Ambassador Jamieson participated in the talks alongside China’s Vice Premier and two deputy ministers. The talks focused on tariffs imposed under the “national emergency” framework aimed at closing the US’s $1.2 trillion trade deficit. Both sides agreed to establish an economic and trade consultation mechanism and plan to issue a joint statement on May 12.
Stablecoin GENIUS Bill Rejected, Treasury Secretary Bessent Criticizes Decision
U.S. Treasury Secretary Scott Bessent harshly criticized the Senate’s rejection of the stablecoin regulation bill GENIUS. Bessent argued that this decision harms the U.S.’s global leadership in crypto and puts the U.S.’s innovative advantage at risk.
Probability of the Fed Not Changing Interest Rates in June at 82.7%
According to CME FedWatch data, the Federal Reserve is 82.7% likely to keep interest rates unchanged at its June 2024 meeting, with a 17.3% chance of a 25-basis-point cut. In July, the cumulative probability of a rate cut stands at 50.7%.
Bitcoin and Ethereum Market Value Soars: Amazon and Alibaba Left Behind
Bitcoin’s market value reached $2.044 trillion, surpassing Amazon and rising to fifth place in the global asset rankings. Similarly, Ethereum’s market value reached $304.26 billion, surpassing Alibaba and moving up to 39th place.
Canadian Matador Technologies Plans to Raise 3 Million CAD for Bitcoin Investment
Matador Technologies Inc. aims to raise 3 million Canadian dollars through the issuance of up to 5.4 million shares. One-third of the funds raised will be used for Bitcoin purchases, while the remainder will be allocated to gold investments and the company’s Grammy-related business plan.
USDT’s Market Value Surpasses 150 billion Dollars, Setting a New Record
According to Coingecko data, the market value of the Tether (USDT) stablecoin has surpassed 150 billion dollars, reaching an all-time high. The 24-hour trading volume reached 33.46 billion dollars.
FTX/Alameda Unlocked 187,625 SOL
187,625 SOL (~32.24 million dollars) was unlocked from the staking address belonging to FTX/Alameda, while the wallet still holds 5.2 million SOL worth 913.5 million dollars. This situation has raised the possibility of potential selling pressure.
Conor McGregor to Discuss Bitcoin Strategic Reserve with Nayib Bukele
UFC champion Conor McGregor, who is running for the Irish presidency, will discuss plans to create a Bitcoin reserve with El Salvador President Bukele. McGregor emphasized Bitcoin’s potential to “return monetary power to the people” and also considered the possibility of collaborating with Charles Hoskinson, the founder of Cardano.
Beat Holdings in Japan Increases Investment in Bitcoin Spot ETFs
Beat Holdings Ltd., listed on the Tokyo Stock Exchange, has increased the upper limit of its Bitcoin ETF investments from $6.8 million to $34 million. This move reflects the growing interest of institutional investors in crypto assets.
Metaplanet’s Bitcoin Holdings Surpass El Salvador’s
Simon Gerovich, CEO of Japanese Metaplanet, announced that the company has increased its Bitcoin holdings by 1,241 BTC, bringing the total to 6,796 BTC, surpassing El Salvador’s reserve of 6,714 BTC.
El Salvador Purchased an Additional 8 BTC in the Last 7 Days
El Salvador continues its weekly Bitcoin purchase strategy. By adding 8 BTC over the past 7 days, it has increased its total reserves to 6,174.18 BTC. The current value of this amount is approximately 641.5 million dollars.
by Darkex Research – 1 min read
Click for Market Pulse news articles prepared by the Darkex Research Team.
