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PEPE buyers are attempting to step in at the current levels. A good sign for some crypto coins would be to retake that pre-election level where the previous rally started. PEPE has been relatively strong the past few days, especially compared to other bigger memes.
Durov had been required to remain in the country since his arrest seven months ago.
Quick Take International bank Standard Chartered has slashed its 2025 ether price target by 60% from $10,000 to $4,000, citing factors like Base’s growing market share. The Bank of Korea has ruled out the idea of creating a bitcoin reserve, citing its high volatility.
Quick Take The GMCI Meme index’s largest holdings have faced substantial selling pressure as speculative traders exit. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take Magic Eden saw an explosive but short-lived surge in Ordinals trading, with daily volume averaging nearly $50 million for eight days, driven by the Idiots NFT mint. The following is an excerpt from The Block’s Data and Insights newsletter.
Quick Take Offchain Labs introduced the Onchain Labs initiative, which focuses on developing new decentralized applications for Arbitrum. The initiative was launched in partnership with the Arbitrum Foundation and will provide support for early-stage developers and teams.
- 11:06Coinsilium Approves Issuance of Up to 600 Million New Shares to Increase Bitcoin HoldingsAccording to Jinse Finance, UK-listed company Coinsilium has received shareholder approval to issue up to 600 million new shares, enhancing its ability to expand its Bitcoin capital strategy through its Forza subsidiary. Since May, the company has raised £11.62 million and increased its BTC holdings from 5 BTC to 88.67 BTC. With this new flexibility, Coinsilium aims to accelerate acquisitions, partnerships, and financial growth in alignment with institutional interests.
- 10:57SOON Foundation Launches Governance System and Plans to Permanently Burn 3% of SOON TokensOdaily Planet Daily reports that the SOON Foundation has launched its governance system today, allowing SOON holders to participate in voting and decision-making. At the same time, the Foundation announced a proposal to permanently burn 30 million SOON tokens (accounting for 3% of the total supply) in response to recent market volatility. Of these, approximately 7.7 million unclaimed airdrop tokens will be burned first, while the remaining 22.3 million will be repurchased from centralized exchanges and then burned. In addition, the SOON Foundation will hold a community AMA next Wednesday to provide detailed information about the token buyback plan, and is currently developing an on-chain buyback product to further enhance on-chain liquidity.
- 10:48Current State of the Government Efficiency Department: Key Staff Resignations, Shifting from High-Profile Layoffs to Quiet ReformsAccording to a report by Jinse Finance, citing internal records reviewed by the U.S. news outlet Politico and sources familiar with the matter, at least eight of the original core staff members of the Department of Government Efficiency (DOGE) have already left the government. Over the past six months, anyone wishing to access the sixth floor of the U.S. General Services Administration headquarters—the core office area of the DOGE led by Musk—had to pass a check by an armed guard, and only those whose names appeared on a pre-approved list were allowed entry. Now, the guard has been withdrawn, and the sign next to the elevator that once read "Authorized Personnel Only" has also disappeared. Compared to the high-profile employee dismissals in the early months, DOGE's current focus has shifted. Recent work includes removing redundant government websites and phone lines, canceling unused software licenses, and collaborating with the National Weather Service to upgrade the nationwide weather broadcast system. In addition, DOGE is developing a new project called AI.gov, aimed at accelerating government innovation through artificial intelligence. (Jin10)