Bitcoin Gains As White House Signals a More Targeted Tariff Approach

Tether plans to launch a U.S.-focused stablecoin later this year or early 2026, depending on stablecoin legislation. CEO Paolo Ardoino stated the new stablecoin would cater to U.S. users and compete with payment services like PayPal's CashApp.

Bitcoin's dominance in the cryptocurrency market has surged to 64.89%, its highest level since January 2021, with a price exceeding $97,000. Despite recent fluctuations, Bitcoin's resilience and limited supply continue to attract investors over altcoins.

Two Prime, an SEC-registered investment advisor, has decided to drop all exposure to Ethereum due to its unpredictable behavior and declining market appeal. The firm criticized ETH's statistical trading behavior and value proposition, stating that it now trades like a meme coin.

The UK's Financial Conduct Authority is seeking feedback on regulating crypto activities before implementing legislation to bring them under regulation. The regulator's discussion paper, released Friday, covers topics including intermediaries, staking, lending, borrowing, and decentralized finance, with a focus on consumer protection and market integrity.

Japanese firm Metaplanet has issued $24.8 million (3.6 billion yen) in bonds to buy more Bitcoin for its corporate treasury, with EVO FUND as the sole buyer. The bonds have no interest and will mature in 2025, funded by stock acquisition rights. The company may repay the bonds early if stock rights proceeds surpass certain levels.

Claynosaurz, known for NFTs on Solana, is expanding to Sui blockchain for new interactive digital experiences. The move includes launching collectibles, gaming, and an achievements system on Sui, while original NFTs remain on Solana.

Senate Majority Leader John Thune is pushing for a vote on the GENIUS Act, a bill regulating stablecoins tied to the U.S. dollar. The legislation, sponsored by Senator Bill Hagerty, aims to establish a regulatory framework for digital assets and maintain the dollar's global dominance.

Playtron, a gaming startup, revealed plans to introduce a stablecoin on Sui for gaming purposes. The Game Dollar, set to launch in Q4, will be utilized for transactions and rewards within the Playtron GameOS ecosystem.

Movement Labs suspended co-founder Rushi Manche amid a governance probe after Rentech dumped 66 million MOVE tokens. The Foundation believed it was contracting Web3Port for liquidity, but Rentech misrepresented its role.

The U.S. Treasury Department's FinCEN proposed actions to sever Cambodia-based Huione Group from the U.S. financial system due to alleged money laundering activities, including processing $4 billion in illicit proceeds. The proposed rule aims to restrict Huione's access to correspondent banking, hindering money laundering capabilities.