Lummis Calls for Stablecoins
U.S. Senator Cynthia Lummis called on the banking sector to embrace stablecoins and digital assets. Lummis stated that stablecoins could reduce costs by shortening settlement times and offer banks new product opportunities. She argued that banks could create additional revenue streams through custody and payment services. However, disagreements over stablecoin returns continue to slow progress on the U.S. Crypto Market Structure Act.
Demand for Gold as a Safe Haven
Stock market declines and ongoing U.S.-Iran tensions boosted demand for safe havens, supporting gold prices. Spot gold rebounded on Friday after sharp sell-offs in the previous session. Weakness in global stock markets and geopolitical risks created demand for gold, while the CME’s increase in margin rates on precious metals limited volatility. Analysts emphasize that price movements may remain volatile in the short term and that the market is cautious.
Michael Saylor announced that Strategy accounted for 33% of preferred stock issuances in the US last year. Saylor stated that the company is creating transformation in the market by combining digital assets with innovative securities. He emphasized that this approach has increased institutional investor interest and strengthened the company’s financing flexibility.
China Tokenization Guide
The China Securities Regulatory Commission published a supervisory guide on the issuance of domestic assets as asset-backed security tokens overseas. The guide requires tokenized asset issuance to strictly comply with cross-border investment, foreign exchange management, and data security rules. It is particularly emphasized that related activities must not harm state interests or the public good.
Strategic Investment from Tether
Tether announced a strategic investment in t-0 Network to support the USDT payment system. t-0 Network provides a stablecoin-based global payment infrastructure for banks and fintech companies. This investment is expected to increase the use of stablecoins in international payments and accelerate corporate adoption.
Cardano Stake Competition
The Cardano community has launched a new stake pool competition platform called StakePool Arena. The platform aims to compare the performance of stake pools using a scoring system based on on-chain data. Separate categories are offered for small, medium, and large pools, providing transparent rankings without requiring users to connect their wallets.
BlackRock Sell Signal
BlackRock’s transfer of a large amount of Bitcoin and Ethereum to Coinbase signals potential new sales. This move comes after outflows from crypto ETFs. With BTC falling to the $60,000 level, market pressure appears to be increasing.
Ethereum Scaling Debate
Ethereum core developers are engaged in intense discussions about the network’s scaling roadmap. Tomasz K. Stańczak advocates for reducing L1 complexity and focusing on L2 solutions, while Vitalik Buterin emphasizes the critical importance of accessibility. Buterin states that L1 taking on more functionality, albeit limited, could reduce application layer complexity.
1inch Fund Movement
The 1inch team investment fund withdrew 58.66 million 1INCH, worth approximately $5.53 million, from Binance over the last three months. In the last transaction, 20 million 1INCH were transferred at once. These movements are noteworthy in terms of the fund’s token management and long-term strategy.
Bitfarms Restructuring
Bitcoin mining company Bitfarms announced that it will relocate its headquarters from Canada to the US and change its name to Keel Infrastructure. The company plans to restructure with a Delaware headquarters. Shareholder, stock exchange, and court approvals are required to complete the process.
Polymarket Token Plan
Polymarket’s parent company has filed a trademark application for the “POLY” brand. The application covers token issuance and financial market services. Company executives have confirmed a POLY token and airdrop plan, but no specific timeline has been announced.
Crypto Warning from UBS
UBS Chief Economist Paul Donovan argued that cryptocurrencies should not be considered an asset class. Analysts note that Bitcoin whales have turned to net selling and that outflows from spot ETFs have accelerated. These market movements indicate weak investor sentiment.
Euro Stablecoin Agenda
It has been reported that Eurozone finance ministers will discuss issuing a euro-denominated stablecoin. The aim is to strengthen the euro’s position as a global currency and increase financial integration. This step is expected to develop the digital payment infrastructure within the EU.
SharpLink ETH Focus
SharpLink co-CEO Joseph Chalom said they will continue to increase Ethereum efficiency despite challenging market conditions. Chalom recalled that crypto markets have weathered many shocks in the past. He emphasized that the company aims to grow shareholder value in the long term with its ETH-focused strategy.
