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Ethereum (ETH) rebounded above $2,200, gaining over 6% in 24 hours. Key indicators suggest a potential shift in momentum, with $3,000 in sight if bullish pressure continues.
Quick Take The Liberal Democratic Party seeks to categorize cryptocurrency under the Financial Instruments and Exchange Act and introduce a separate tax rate of 20%, akin to that applied to securities investments. Japan currently imposes taxes of up to 55% on crypto gains as cryptocurrency is classified as miscellaneous income.
Quick Take Argentine federal prosecutor Eduardo Taiano is seeking to freeze assets exceeding $110 million linked to the Libra memecoin scandal The scandal has drawn attention due to its alleged connection to President Javier Milei.
Quick Take RedStone has launched the RED token on Ethereum, with 10% of its total 1 billion supply allocated to the community through claim activities. Stakers will initially earn rewards in RED, with future potential for other assets like ETH, BTC, SOL and USDC, RedStone co-founder and COO Marcin Kazmierczak told The Block.
Quick Take Although early details are scant, Sui Foundation said it plans to collaborate with the World Liberty Financial crypto project, backed by U.S. President Donald Trump. Besides exploring “product” opportunities, Sui also said World Liberty Financial will “include Sui assets in … its strategic token reserve.”
Quick Take Bitwise, the cryptocurrency index fund manager, has made its first DeFi allocation via onchain credit protocol Maple Finance, the company announced on Thursday.
Quick Take A senior Russian official stated that sanctions won’t fully prevent Russians from using the cryptocurrency market. The EU recently imposed sanctions on Russian crypto exchange Garantex, which has already been under U.S. sanctions since 2022.
- 14:47Bank of America: Fed’s Independence in Question, Pressuring the Dollar as Markets Worry Over Dovish TiltAccording to a report by Jinse Finance, Bank of America strategist Alex Cohen stated that uncertainty surrounding the future of the Federal Reserve’s leadership is undermining the performance of the US dollar. These concerns are “clearly affecting the dollar earlier than other assets” and may be the main reason why the dollar has yet to rebound. “Even if future leadership changes occur in a relatively conventional manner, the market is already beginning to anticipate a more accommodative Fed environment,” Cohen noted. Trump continues to pressure Fed Chair Jerome Powell to cut interest rates and is scheduled to visit the Fed headquarters today, further highlighting signs of political interference.
- 14:42Bitwise: Since mid-May, ETH demand has been 32 times its supply, driving the surge in ETH pricesAccording to ChainCatcher, Bitwise tweeted: "Since mid-May, ETPs (exchange-traded products) and publicly listed companies have purchased a total of 2.83 million ETH, while only 89,000 ETH have been newly issued on the Ethereum network." "This means that demand is 32 times greater than supply, which is exactly why the price of ETH has surged."
- 14:33Decentralized AI Firm Data Guardians Network Secures $5 Million in Pre-Seed FundingAccording to Jinse Finance, decentralized AI company Data Guardians Network (D-GN) has announced the completion of a $5 million pre-seed funding round, with participation from droppGroup, Hub Culture, and others. The company enables the transformation of globally sourced human input into an auditable, tokenized data engine, which is used to train, validate, and improve AI systems in the fields of voice, image, and text in a compliant manner. The new funds are intended to support deeper integration with open-source and enterprise AI frameworks.