Citigroup Cuts Bitcoin, Ethereum Price Targets—Here's Why

Anthropic, the creator of AI chatbot Claude, is set to raise $20 billion in fresh investment, valuing the company at $350 billion. The deal, led by GIC and Coatue, will see $10 to $15 billion received soon, with the rest finalized later. Buzz around growing AI investments appears to have positively impacted the shares of prominent Bitcoin miners, who are increasingly devoting their ample computing power to AI demands.

Mesh, a crypto payments network, has secured $75 million in Series C funding, achieving a $1 billion valuation. The funding will drive Mesh's expansion into Latin America, Asia, and Europe, enhancing its infrastructure to connect wallets, blockchains, and digital assets.

U.S. spot Bitcoin ETFs experienced a reversal in fortunes with $6.8 million in net inflows, ending a streak of five days of outflows totaling nearly $1.72 billion. BlackRock’s IBIT and Grayscale's BTC were the top gainers, while Bitwise's BITB and Fidelity's FBTC saw outflows.

The team behind Forgotten Runiverse, an MMORPG on the Ethereum scaling network Ronin, announced the game's temporary shutdown due to financial challenges. Despite this, they assured users that the project is not being abandoned and that progress data will be preserved.

Standard Chartered Global Head of Digital Assets Research Geoff Kendrick predicts a $500 billion shift from bank deposits to stablecoins by 2028, a more conservative estimate than his previous $1 trillion prediction. The proposed CLARITY Act could impact stablecoin holders' ability to earn yield, potentially affecting traditional banks' net interest margin income.

Tether announced the launch of its USAT stablecoin, issued by Anchorage Digital, to comply with the GENIUS Act. The stablecoin, designed for U.S. markets, will be backed primarily by cash and U.S. Treasuries under the OCC's supervision.

Coinone's CEO returns after stepping down, denying reports of a possible takeover by Coinbase. The South Korean exchange is exploring investment opportunities amidst declining interest from retail investors.

The FCA's new consultation seeks feedback on proposals to regulate crypto firms in the UK, focusing on consumer protection, conduct standards, and regulatory oversight. The regulator aims to align cryptoassets with traditional financial services, ensuring a trustworthy and competitive market.

The SEC has scaled back its crypto enforcement agenda under new leadership, dropping cases and closing investigations. The agency dismissed the lawsuit against Gemini Trust Company over its high-yield lending product, Gemini Earn, after years of negotiations.

HYPE, the token of Hyperliquid, rose 24% in 24 hours due to increased trading on commodities like silver and gold. Silver futures on the platform hit $111 with over $1.25 billion in volume, making it the third most active market. The surge in activity benefits HYPE holders by driving revenue and token buybacks.