Hi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
Bitcoin (BTC) has temporarily regained the $105,000 level. Meanwhile, as of 00:52 on the 7th, BTC is trading at $105,020 on the Binance Tether (USDT) market, up 0.34% from the previous day.
The three major U.S. stock indexes are showing gains. As of 00:35 on the 7th, the NASDAQ Composite Index is trading at 19,512.06 points, up 1.11% from the previous day. The Dow Jones Industrial Average is up 0.81% at 42,662.62 points, while the S&P 500 Index is recording a 0.90% increase at 5,993 points.
According to Unfolded, a virtual asset (cryptocurrency) analytics platform, on the 6th (local time), Germany's largest commercial bank, Deutsche Bank, is reportedly considering the introduction of stablecoins and tokenized deposits.
Bitcoin (BTC) temporarily fell below the $101,000 level. Meanwhile, as of 05:41 on the 6th, BTC is trading at $100,967.95 on the Binance Tether (USDT) market, down 3.58% from the previous day.
According to CNN News on the 5th (local time), Tesla (TSLA) shares on the New York Stock Exchange closed at $284.70, plunging 14.26% from the previous day. It is analyzed that the public escalation of discord between President Donald Trump of the United States and Elon Musk, CEO of Tesla, has fueled investor concerns about Tesla's business outlook, which in turn led to the stock's sharp decline. Recently, Musk openly opposed the 'Big, Beautiful Bill,' a core tax cut initiative of the Trump Administration, criticizing it as 'disgusting and repulsive.' This bill passed the House of Representatives, but Musk insisted it should be voted down in the Senate, maintaining a firm stance of opposition. In response, President Trump expressed discomfort regarding Musk's remarks while speaking with reporters during a meeting at the White House with Friedrich Merz, Chancellor of Germany. Trump said, "Elon Musk and I had a good relationship, but now I'm not so sure. I'm very disappointed. I was surprised." Musk also responded immediately. Through his X (formerly Twitter), he hit back, "If it weren't for me, Trump would have lost the election," further widening the rift. As the political and economic conflict between the two intensified, the political risk and policy uncertainty regarding Tesla are seen to have negatively affected its stock price. Some observers raised concerns that Musk's political statements and Trump's response could impact Tesla's federal contracts and tax benefits.
The three major U.S. stock indexes closed lower. The NASDAQ Composite Index finished at 19,298.45 points, down 0.83% from the previous session on the 6th. The Dow Jones Index ended at 42,319.74 points, down 0.25%, and the S&P 500 Index wrapped up the day at 5,940.04 points, down 0.52%.
Bitcoin (BTC) temporarily lost the $102,000 level. Meanwhile, as of 04:21 on the 6th, BTC is trading at $101,717.49 on the Binance Tether (USDT) market, down 3.10% from the previous day.
On the 5th (local time), Bloomberg reported, citing multiple sources, that World Liberty Financial (WLFI), a DeFi project led by the Trump family, sent a letter to Fight Fight Fight, the developer of the meme coin Official Trump (TRUMP), demanding a halt to the development of the TRUMP wallet. WLFI is also reported to have delivered the same letter to Magic Eden (ME), the NFT marketplace that had announced a plan to launch the TRUMP wallet. Previously, Donald Trump Jr. stated, "The wallet under development by Fight Fight Fight is an unofficial product not related to the Trump family," adding that WLFI will release its own official wallet separately. Additionally, Eric Trump warned, "We will take legal action regarding this matter." Analysts note that this situation, as meme coin projects revolving around President Trump face issues of 'official status' and tangled interests, could potentially escalate into legal disputes.
Bitcoin (BTC) briefly dipped below the $103,000 level. Meanwhile, as of 03:14 on the 6th, BTC is trading at $102,770.25 on the Binance Tether (USDT) market, down 2.24% from the previous day.
The virtual asset (cryptocurrency) custody company Bitgo announced on the 5th (local time) via its official X (formerly Twitter) that it will support an institutional-only staking service for Bittensor's (TAO) native token, TAO. Bitgo explained, "This service is provided through a partnership with UMA Group, the AI-focused subsidiary of Digital Currency Group (DCG)." Previously, DCG officially launched UMA Group with the goal of integrating AI and blockchain, and announced plans to actively support the development of the Bittensor network. This partnership is seen as a move to provide institutional investors with a safer and more efficient TAO staking solution. Bittensor is a network that combines AI model training with a blockchain incentive structure, and it has recently attracted considerable attention among AI-related virtual asset projects.
On the 5th (local time), layer 1 blockchain Sui (SUI) announced via its official X (formerly Twitter) that it had launched its self-developed oracle, 'Nautilus', on the mainnet. Sui stated that with this launch, it is now able to provide tamper-proof and verifiable off-chain computation capabilities for Web3 applications. An oracle is a core infrastructure technology that brings data from outside the blockchain on-chain, where it is used for things like smart contracts, payments, and token issuance. The Sui team said, "So far, off-chain computation has acted as a 'bottleneck of trust'," adding, "Nautilus will enhance the scalability and reliability of the entire Sui ecosystem by securely bringing external data on-chain." Nautilus is integrated into the Sui mainnet and is expected to be utilized in a variety of DApps and smart contracts. This is anticipated to further broaden the range of data utilization within the Sui ecosystem.
According to Bloomberg on the 5th (local time), Dara Khosrowshahi, CEO of the global ride-hailing platform Uber, stated in an interview with CNBC that "there are plans to introduce payments using virtual assets (cryptocurrencies) such as Bitcoin (BTC) and stablecoins in the near future." He explained, "Uber already allows various digital payments such as credit cards, PayPal, and Apple Pay," and added, "however, Uber does not intend to directly hold or invest in virtual assets—our goal is to support the payment methods preferred by our users."
According to Bloomberg News on the 5th (local time), global Bitcoin (BTC) ATM operator CoinFlip is reportedly considering options to sell the company. Headquartered in Chicago, United States, CoinFlip is currently engaging with advisory firms to secure potential buyers, and is pushing for a sale based on a minimum company valuation of $1 billion. Discussions regarding this sale are still in the early stages, and Bloomberg reported, "It remains uncertain whether CoinFlip's desired valuation will actually be recognized." CoinFlip is recognized as a company with a major Bitcoin ATM network in the United States, enhancing offline access to virtual assets. With the recent recovery in the crypto asset market, there has been renewed activity in Mergers and Acquisitions (M&A) within the industry, and attention is focused on what outcome this sale process will yield.
According to Tree News on the 5th (local time), Circle, the issuer of the stablecoin USD Coin (USDC), has been listed on the New York Stock Exchange (NYSE). After debuting at $31, it is now trading at about $88, up approximately 186%. Previously, Bloomberg reported that Circle's initial public offering (IPO) was oversubscribed, making it highly likely that the offering price would exceed expectations. Major institutional investors such as BlackRock and ARK Invest participated in this IPO, and it was reported that total subscription demand exceeded the supply by 25 times. Industry observers believe that the success of Circle's IPO will serve as a positive signal for the stablecoin and virtual asset industry as a whole.
According to CoinDesk, a virtual asset (cryptocurrency) specialist media outlet, on the 5th (local time), the virtual asset lending protocol Maple Finance (MPL) has expanded its services to the Solana (SOL) blockchain by adopting Chainlink (LINK)’s Cross-Chain Interoperability Protocol (CCIP). Through this expansion, Maple will be able to operate its own stablecoin, syrupUSDC, on the Solana (SOL) blockchain, and has prepared incentives and liquidity for this purpose. The Maple ecosystem plans to provide over $30 million in liquidity, along with $500,000 in incentives. With this expansion, Maple Finance aims to further strengthen Solana-based lending and liquidity solutions within the decentralized finance (DeFi) ecosystem. Chainlink CCIP is a technology that enables secure asset and data transfers between heterogeneous blockchains, and this collaboration is interpreted as part of the expansion of DeFi interoperability.
Virtual asset (cryptocurrency) market-making firm DWF Labs announced on the 5th (local time) via its official X (formerly Twitter) that it will support trading of the Trump family’s DeFi project World Liberty Financial (WLFI)’s dollar stablecoin USD1 on its exclusive institutional platform, DWF Liquid Markets. Accordingly, it explained that it will contribute to liquidity by supporting USD1 trading for more than 1,000 counterparties.
Tether (USDT), the world's largest stablecoin issuer, has made a strategic investment in the Africa-based blockchain financial solutions platform Shiga Digital. On the 5th (local time), Tether announced the news via its official X account (formerly Twitter) but did not disclose the specific investment amount. Shiga Digital is a platform that provides a range of financial services—including customized virtual accounts, over-the-counter (OTC) trading, and foreign exchange (FX) transactions—to businesses in Africa. With this investment from Tether, Shiga Digital plans to place blockchain technology at the core of its business and actively incorporate stablecoins, including USDT. Tether described this investment as "an important step toward expanding financial inclusion and decentralized financial infrastructure in Africa," and added that, through collaboration with Shiga Digital, it aims to accelerate the expansion of blockchain-based financial services in emerging markets.
American NBA star Tristan Thompson expressed his views on the virtual asset (cryptocurrency) industry. On the 5th (local time), in an interview with the crypto-specialized media platform Decrypt, he drew an analogy, saying, "Bitcoin (BTC) is like Michael Jordan." Thompson went on to explain the characteristics of each blockchain network by comparing them to NBA superstars, stating, "Ethereum (ETH) is LeBron James, Solana (SOL) is Stephen Curry, and XRP is Kevin Durant." He pointed out that the recent wave of cryptocurrency promotion by celebrities has led to lawsuits and bankruptcies, stating, "This is the result of jumping in without sufficient education and understanding," and criticized that, "Especially with the rise of the memecoin era, many celebrities have used crypto merely as a means to make money." Finally, he emphasized, "I want to truly understand this space and make something amazing out of virtual assets," adding that having a long-term vision and commitment is more important than short-term profits.
The three major United States stock indices are showing an upward trend. As of 00:17 on the 6th, the Nasdaq Stock Market Composite Index is trading at 19,555.04 points, up 0.49% from the previous day. The Dow Jones Industrial Average is up 0.16% at 42,495.96 points, and the S&P 500 Index is rising 0.25% at 5,985.73 points.
At a hearing on the virtual asset (cryptocurrency) market structure bill hosted by the House Financial Services Committee, Democratic lawmakers sharply criticized President Donald Trump’s activities related to virtual assets. They expressed concern that the president’s direct intervention in the market could give rise to conflicts of interest and possibilities of corruption. According to The Block, a specialist virtual asset media outlet, on the 4th (local time), New York State Democratic Representative Gregory Meeks stated, “Because the president has created such an outrageous situation, we are now in a position where we must discuss this issue,” adding, “I hope there will be progress through responsible discussion of the bill.” Jim Himes, a Democratic House member from Connecticut, dismissed the Republican Party's claims that criticism of President Trump amounts to political attacks as "foolish and despicable." He went on to warn, "If a conflict of interest prevention clause is not included in the bill, I will not vote in favor, and I will urge other Democratic lawmakers to vote against it as well." This hearing is part of legislative discussions to overhaul the regulatory system for the virtual asset market, and is notable given that President Trump’s direct asset holdings and market interventions are emerging as variables in the bill’s review.
The three major U.S. stock indexes ended mixed. On the 5th, the NASDAQ Composite Index closed at 19,460.49 points, up 0.32% from the previous day. The Dow Jones Industrial Average ended at 42,427.74 points, down 0.22%, while the S&P 500 closed at 5,970.58 points.
On the 4th (local time), crypto-specialized media CoinDesk reported that virtual asset mining company BitFuFu announced it had mined a total of 400 Bitcoins (BTC) during the month of May. This figure represents a 91% increase compared to the previous month. The hashrate reached 34.1EH/s, up 20.5% month-over-month. BitFuFu explained that, for the purpose of operating cost management, it sold 178 BTC at an average price of $104,000 per bitcoin. Meanwhile, as of 05:50 on the 5th in the Binance Tether (USDT) market, BTC is trading at $105,035.28, down 1.13% from the previous day.
The global virtual asset (cryptocurrency) exchange Coinbase announced on the 4th (local time) via its official X (formerly Twitter) that PancakeSwap (CAKE) will be added to its listing roadmap.
According to crypto asset (cryptocurrency) specialist media Daily Hodl on the 4th (local time), Bitwise CEO Hunter Horsley stated in an interview with CNBC that "now is a very appropriate time to include crypto assets in a portfolio," expressing an optimistic outlook for the market. He emphasized, "There is no free lunch in investing, and only those who take risks can be rewarded," adding, "For the first time this year, the biggest risk in the crypto asset market has been removed." He continued, "While the current market offers high return expectations, the overhang (pending sell volume) risk has disappeared," and added, "A very favorable environment for investing in crypto assets has been created." These remarks came amid recent trends of greater institutional acceptance of crypto assets and the clarification of major regulatory uncertainties.
On the 4th (local time), virtual asset (cryptocurrency) specialist media outlet CoinDesk, citing Bloomberg, reported that the initial public offering (IPO) of dollar-based stablecoin USDC issuer Circle is seeing oversubscription and that the public offering price is likely to exceed expectations. Circle announced, through documents submitted to the U.S. Securities and Exchange Commission (SEC), plans to sell 32 million shares at $27–28 per share. This would give the company a valuation of approximately $7.2 billion. Major institutional investors such as BlackRock and ARK Invest are participating in the IPO, and total subscription demand is reportedly over 25 times the available supply. Industry insiders believe the strong demand for Circle's IPO sends a positive signal for the broader stablecoin and virtual asset industry.
On the 4th (local time), the United States Federal Reserve (Fed) evaluated in its Beige Book—a report outlining economic trends in its 12 regional districts—that "overall economic activity has decreased slightly." According to the report, while some districts responded that their economic outlook had worsened, other districts stated that their outlook had actually improved. Meanwhile, it was noted that the current inflation remains on a moderate upward trend. This shows that the Fed is still unable to dispel concerns about ongoing inflationary pressures.
Global cryptocurrency exchange Coinbase announced on the 4th (local time) via its official X (formerly Twitter) account that it will list Joseph-Louis Lagrange (LA) spot. If liquidity conditions are met, trading will begin on the 5th (KST). LA will be listed with an Experimental (indicating a high-risk asset) label.
On the 4th (local time), the global digital asset (cryptocurrency) derivatives exchange Coinbase International Exchange announced via X (formerly Twitter) that it will list Sophon (SOPH) perpetual futures at 18:30 (KST) on the 5th.
According to Bloomberg News on the 4th (local time), the largest investment bank in the United States, JPMorgan, is reportedly planning to provide a loan service to customers using cryptocurrency (crypto asset) exchange-traded funds (ETFs) as collateral. Initially, JPMorgan will utilize BlackRock's spot Bitcoin (BTC) ETF, IBIT, as collateral, and later plans to expand to other spot ETFs. JPMorgan is also reportedly preparing a plan to include customers' virtual asset holdings in asset evaluation criteria for high net worth individuals. As a result, loan limits may vary depending on the assessed value of assets. However, JPMorgan did not respond to Bloomberg's request for comment. Jamie Dimon, CEO of JPMorgan, has maintained a negative stance on cryptocurrencies; however, on the 20th of last month, he announced that customers would be allowed to buy Bitcoin. Meanwhile, JPMorgan is also reportedly in discussions with other global major banks for the joint development of a stablecoin.
According to the cryptocurrency-focused media platform CoinDesk on the 4th (local time), French blockchain specialist company The Blockchain Group (ALTBG), which announced a strategic Bitcoin (BTC) reserve plan, revealed that it will discuss a funding proposal worth €10 billion (about $11.4 billion) at the shareholders' meeting to be held next week. This capital is expected to be used to accelerate the Bitcoin reserve strategy. The Blockchain Group aims to secure 1% of the total Bitcoin supply (21 million coins) over the next eight years. Previously, at the end of last month, it had also announced the issuance of convertible bonds worth €63.3 million to finance additional Bitcoin purchases. Meanwhile, as of 00:32 on the 5th, Bitcoin was trading at $105,433.18 on the Binance Tether (USDT) market, down 1.13% from the previous day.