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In Brief BNY Mellon enhances its crypto ecosystem role through infrastructure services, not its own coin. The bank supports stablecoin projects instead of launching an altcoin amid positive market conditions. BNY Mellon prioritizes infrastructure over token issuance, promoting collaboration and ecosystem strength.
In Brief The crypto market exhibits signs of recovery post-major liquidations. Ethereum, Dogecoin, Cardano, and XRP have shown significant gains. Technological innovations and ETF expectations contribute to market optimism.
Bitcoin has closed above the $100K mark for 163 days in a row, showing strong market confidence and price resilience.Bitcoin Holds Strong Above $100KWhat Sustains This Momentum?What Comes Next for Bitcoin?
Ethereum’s open interest has dropped to pre-rally levels, hinting at a potential setup for the next major price move.Ethereum Open Interest Drops — Calm Before the Storm?What This Reset Could MeanTraders Watching for Confirmation
Ondo Finance urges the SEC to pause Nasdaq's tokenized securities plan, calling it opaque and biased toward big banks.Ondo Finance Challenges Nasdaq’s Tokenized Securities PlanA Call for Transparency and InclusionThe Fight for the Future of Finance
- 21:43A business entity related to YouTube celebrity MrBeast is reportedly set to enter the cryptocurrency sector.Jinse Finance reported that Beast Holdings, associated with YouTube celebrity MrBeast, has filed a trademark application for “MrBeast Financial” in the United States, with wording suggesting a potential entry into the cryptocurrency sector. The application includes services such as cryptocurrency payment processing, cryptocurrency exchange, and trading through decentralized exchanges (DEX). This move indicates a possible foray into fintech and Web3, potentially targeting MrBeast’s large audience and serving as a gateway or exchange for cryptocurrencies.
- 20:59The UK tax authorities have sent 65,000 letters to suspected cryptocurrency tax evaders.According to a report by Jinse Finance, the UK tax authority has sent 65,000 so-called "reminder letters" to individuals suspected of owing cryptocurrency taxes, more than double the number from last year, according to the Financial Times. In the UK, selling, exchanging, or spending cryptocurrency typically incurs capital gains tax, while staking rewards and airdrops are generally considered income.
- 20:40Retail investors lost about $17 billion by attempting to invest in bitcoin indirectly through asset management firms.According to Jinse Finance, citing Bloomberg, retail investors have lost about 1.7 billions USD by indirectly investing in bitcoin through fund management companies such as Metaplanet and Michael Saylor's Strategy. 10X Research stated that these losses stem from excessively high equity premiums, causing share prices to be much higher than the actual bitcoin holdings.