Market Performance
| Asset / Index | Value ($) | Daily Change (%) |
|---|---|---|
| Bitcoin (BTC) | 67,778.0 | +1.33% |
| Ethereum (ETH) | 1,962.26 | +0.72% |
| Bitcoin Spot ETF | -165.80 M | Net Outflow |
| Ethereum Spot ETF | -130.10 M | Net Outflow |
| S&P 500 | 6,861.88 | -0.28% |
| Nasdaq (NAS100) | 24,885.7 | +0.46% |
| Russell 2000 (RUT) | 2,667.1 | +0.21% |
| U.S. Dollar Index (DXY) | 97.583 | +0.07% |
| VIX Volatility Index | 20.23 | +3.11% |
| U.S. 10-Year Yield | 4.07600000 | -0.26% |
| Brent Crude Oil (BRENT) | 72.086 | -0.08% |
| LBMA Gold (XAU) | 5,015.34 | +0.39% |
| LBMA Silver (XAG) | 78.80 | +0.57% |
“Prepared at UTC 07.41 am”
Today’s Key Events
- US President Trump to Attend a Special Meeting
- US Supreme Court Expected to Rule on Tariffs
- US PCE and GDP Data to be Released
- FOMC Members Bostic and Logan to Speak
- LayerZero and KAITO Token Unlockings
Trump’s Message on Iran and Gaza
- U.S. President Donald Trump said they have ended 8 wars so far and are close to ending the 9th. Emphasizing the need for an agreement with Iran, Trump said that otherwise “very bad things” would happen and that clarity in Iran would be achieved within about 10 days.
- Reiterating that Iran cannot possess nuclear weapons, Trump said they aim for a properly managed structure in Gaza and that sending troops may not be necessary.
- He added that Hamas will face a harsh response if it does not lay down its arms.
- He also announced plans to visit China in April.
PCE Inflation Expectations Rise
According to estimates reported by Nick Timiraos, US PCE inflation is expected to rise by 0.37% monthly in December. This increase is expected to push core PCE to an annual rate of 3.0%, marking the highest rate in recent times. Overall PCE is expected to rise to an annual rate of 2.9%. The data reinforced expectations that the Fed may be more cautious in its interest rate reduction process.
US-Indonesia Trade Agreement
Under the new trade agreement signed between the US and Indonesia, Indonesia will remove customs barriers on more than 99% of US products. The agreement covers approximately $33 billion in trade cooperation, including energy, aviation, and agriculture. The US side will apply a 19% customs duty to Indonesia, with zero duty applicable to some products.
Ban on Stablecoin Returns on the Agenda
At the latest meeting led by the White House, the option of banning automatic interest on stablecoin balances came to the fore. The draft text addresses the banking sector’s concerns about competitive pressure by preventing returns from idle stablecoin balances. Daily fines of $500,000 for violations and granting authority to the SEC, Treasury, and CFTC are on the agenda.
Nvidia OpenAI Investment
Nvidia is reportedly close to completing a $30 billion investment agreement with OpenAI. This investment is said to be part of a broader round in which OpenAI aims to raise over $100 billion. The previously announced $100 billion long-term partnership plan has reportedly been put on hold.
SEC’s Phased Tokenization
SEC Chairman Paul Atkins announced that an “innovation exemption” mechanism for tokenized securities is being evaluated. This approach could allow certain tokenized assets to trade on new platforms on a limited scale. It was emphasized that the SEC’s goal is to create a balanced and phased framework between innovation and investor protection.
CME 24/7 Crypto Trading
The Chicago Mercantile Exchange plans to open 24/7 trading for crypto futures and options as of May 29. This move comes at a time of increased demand for risk management for digital assets. Trading volume in crypto contracts is expected to reach $3 trillion by 2025.
Call for Euro Stablecoin
Joachim Nagel, President of the German Central Bank, advocated for the issuance of a euro-indexed stablecoin to counter the risk of dollarization. He noted that dollar-based stablecoins could put pressure on local monetary policy. The European Central Bank plans to launch its digital euro project in 2029.
Amazon Reaches the Top
Amazon surpassed Walmart to become the world’s highest-earning company with annual sales revenue of $717 billion. Walmart’s sales for the last 12 months were reported at $713.2 billion. Amazon has thus officially surpassed its long-time rival at the top.
XRP Funding Rate Declines
XRP’s daily funding rate has fallen below 40%. A drop of approximately 4% in open positions indicates that pressure in the derivatives market persists. The negative funding rate suggests that investors are increasingly expecting further price declines.
