Standard Chartered Analyst Expects Bitcoin to Surge Past $120K This Quarter

Bitcoin and other cryptocurrencies surged on Thursday following a U.S.-U.K. trade deal, with BTC surpassing $100,000 for the first time since February. The Federal Reserve's decision to maintain interest rates led to President Trump criticizing Chair Jerome Powell for not cutting rates. Ethereum also saw a significant increase, breaking $2,053 for the first time since March.

The GENIUS Act, a stablecoin bill, faced a setback in the Senate as key Democrats withdrew support, leading to a failed procedural vote. The bill's chances of passage have significantly decreased, potentially affecting other pending crypto legislation.

Altcoins are driving the crypto markets forward, with Ethereum gaining 9.2% in 24 hours, potentially breaking $2,000. Dogecoin, Cardano, Sui, and Bitcoin Cash have also seen significant gains, while Pudgy Penguins surged 27% in a day.

Kuwaiti authorities are intensifying efforts against illegal crypto mining, investigating 31 cases and questioning 116 individuals. The misuse of electricity for mining in 59 residential properties has strained the national power grid, leading to blackouts.

Superstate, known for the USTB token, is launching Opening Bell, a Solana-based platform for tokenizing public equities. This move enables real-time trading and programmable securities, targeting public and private companies seeking liquidity.

The acquisition of Deribit by Coinbase was announced without disclosing the deal's value, but executives later revealed it to be $2.9 billion, including cash and stock. This breaking news story was reported by The Wall Street Journal and edited by Stacy Elliott.

ING predicts the Federal Reserve may implement aggressive interest rate cuts in the future due to uncertainties in the economic outlook. Chairman Jerome Powell's comments on increased risks of higher unemployment and inflation indicate a potential delay in rate cuts. The Fed's cautious approach is likely influenced by concerns over trade wars and supply disruptions impacting inflation.

Superstate, led by Robert Leshner, is launching Opening Bell, a platform for companies to issue SEC-registered public shares directly on blockchains. SOL Strategies, a Canadian firm, will be the first to list its shares on Solana this summer, aiming to tap into the future of Internet capital markets.

Sweat, a fitness app rewarding users with SWEAT tokens for walking, is introducing Mia, an AI agent powered by Near Protocol's Near AI infrastructure. Mia aims to simplify user experience and manage crypto rewards as the platform expands to multiple chains.