Headlines
▌Circle IPO to be Priced at $31 per Share, Raising $1.1 Billion
Stablecoin issuer Circle's US IPO stock price is expected to be set at $31 per share, reportedly higher than the range, raising $1.1 billion.
▌US SEC Delays Decision on Canary Spot SUI ETF Application
According to market information, the US Securities and Exchange Commission has postponed the decision on Canary's spot SUI ETF application.
Market
As of the time of writing, according to CoinGecko data:
BTC price is $104,817, 24-hour change -0.4%;
ETH price is $2,610.45, 24-hour change +0.6%;
BNB price is $663.39, 24-hour change +0.4%;
SOL price is $153.18, 24-hour change -1.3%;
DOGE price is $0.1884, 24-hour change -2.5%;
XRP price is $2.2, 24-hour change -2.1%.
Policy
▌CLARITY Act Hindered by Trump's Cryptocurrency Investment Controversy
The US House Financial Services Committee recently held a hearing to discuss the Digital Assets Market Clarity Act (CLARITY). The bill aims to establish a clear regulatory framework for the cryptocurrency industry, but Trump's close association with the crypto industry became the focus of discussion, impeding the bill's progress. During the hearing, some Democratic lawmakers expressed concerns about Trump's involvement in the cryptocurrency sector, especially his support for World Liberty Financial and subsequent stablecoin and meme coin launches, believing these actions disrupted the bill's discussion process. Democratic Representative Gregory Meeks stated that Trump's actions were too extreme, preventing focus on the bill itself. Despite this, the bill still received support from some Democratic lawmakers, and proposals to modify conflict of interest clauses have been put forward. Committee Chairman French Hill stated that the bill will continue to move forward in the coming week, but Trump's crypto investments will remain a point of contention.
Blockchain Applications
▌Ethereum Foundation Releases New Fiscal Policy: Focusing on Sustainability and DeFi Ecosystem Development, Reducing Annual Operating Expenses
The Ethereum Foundation (EF) has released its latest fiscal management policy, clearly stating its commitment to strengthening the Ethereum ecosystem and promoting long-term sustainability. The policy focuses on: rational asset management, ensuring innovation support in the DeFi field, and managing finances with transparency and accountability. Particularly in the DeFi ecosystem, EF will enhance security and privacy protection through periodic ETH sales and deployment, promoting the development of decentralized protocols aligned with the "Defipunk" philosophy. Additionally, EF plans to gradually reduce annual operating expenses to a long-term benchmark of 5% and use fiscal funds for long-term Ethereum ecosystem support and strategic capital allocation.▌JPMorgan Plans to Allow Clients to Use Bitcoin ETF as Loan Collateral
According to Bloomberg, Wall Street giant JPMorgan plans to allow its clients to use crypto ETF stocks like BlackRock's iShares Bitcoin Trust as loan collateral. Sources told Bloomberg that the bank will also begin to include cryptocurrency holdings when assessing client net worth and liquid assets. This means that cryptocurrency will be treated on par with real estate and automobiles when evaluating a client's ability to repay loans.
Cryptocurrency
▌Arkham: ConsenSys Suspected of Acquiring $300 Million Worth of ETH
According to Arkham ZH monitoring, ConsenSys is suspected of purchasing $300 million worth of ETH. A whale associated with ConsenSys recently received $320 million worth of ETH from Galaxy Digital, transferring it to a new address 0x0b2, and staking $120 million worth of ETH to Liquid Collective at this address.
▌K Wave Media Sells $500 Million in Common Stock to Support Bitcoin Financial Strategy
Nasdaq-listed Korean media company K Wave Media (KWM) announced that it has signed an agreement with Bitcoin Strategic Reserve KWM LLC to raise up to $500 million through the sale of common stock. The funds will be used to advance the company's Bitcoin-centric asset strategy, liquidity, and M&A expansion. KWM stated that it will emulate the model of Japan's Metaplanet Inc., becoming a "Korean version of Metaplanet".
Important Economic Developments
▌Bank of Canada Maintains Key Rate Unchanged, Potential Future Rate Cut
The Bank of Canada kept its key benchmark rate unchanged at 2.75% on Wednesday, stating the need to investigate the impact of US trade policies, but indicating that a rate cut might be necessary if the economy weakens due to tariffs. This decision marks the second consecutive time the Bank of Canada has maintained a wait-and-see attitude, following a nine-month rate-cutting cycle that reduced rates by 225 basis points. The Bank of Canada Governor said at the press conference: "Trade conflicts initiated by the US remain the biggest headwind for the Canadian economy." He described US trade policies as highly unpredictable, stating: "While we gather more information, we have a clear consensus to maintain policy unchanged."
▌Federal Reserve Beige Book: Slight Decrease in Economic Activity
Federal Reserve Beige Book: Prices have risen at a moderate pace since the last report. However, a few regions reported deteriorating economic prospects, while others indicated improved prospects. Reports from twelve Federal Reserve districts showed a slight decrease in economic activity since the last report.
Jinse Encyclopedia
▌What are Ethereum Futures ETFs and How Do They Work?
Ethereum Futures ETFs are investment funds that track Ethereum futures contracts rather than Ethereum itself.
Consider a contract promising to purchase Ethereum at a specific price at a future time. These derivative contracts are traded through Ethereum (ETH) Futures Exchange Traded Funds (ETFs), providing a regulated method to invest in Ethereum using a brokerage account.
Disclaimer: Jinse Finance, as a blockchain information platform, provides article content for informational purposes only and does not constitute actual investment advice. Please establish a correct investment concept and be sure to improve risk awareness.
