Trump claims to lead BTC with clear regulation as the US-Iran nuclear negotiation games intensify.

Headline

▌Trump: A clear regulatory framework will be created to lead the U.S. in the future of Bitcoin and cryptocurrency

Trump stated at the Coinbase "State of Crypto" summit that the U.S. will strive to create a clear and simple market framework that would allow America to dominate the future of cryptocurrency and Bitcoin.

▌U.S.-Iran nuclear talks are imminent, and the competition between both sides intensifies

The United States and Iran are scheduled to hold a new round of talks on the Iranian nuclear issue on the 15th. Before the talks, the United States decided to withdraw non-essential personnel and their families from the U.S. Embassy in Iraq and other locations, while the U.S. Secretary of Defense approved the voluntary evacuation of U.S. military families in the Middle East. President Trump expressed a lack of optimism about reaching an agreement. On the Iranian side, mixed signals were sent; on one hand, they believe that the two sides could "quickly" reach an agreement, while on the other hand, they warned that if negotiations break down and Iran is attacked, they would take retaliatory actions against U.S. military bases in the Middle East.

Market

As of the time of writing, according to data from CoinGecko:

The price of BTC is $106,064, with a 24-hour change of -2.4%;

The price of ETH is $2,655.72, with a 24-hour change of -4.3%;

The price of BNB is $656.46, with a 24-hour change of -1.7%;

The price of SOL is $152.72, with a 24-hour change of -5.1%;

The price of DOGE is $0.1821, with a 24-hour change of -5.7%;

The price of XRP is $2.20, with a 24-hour change of -3.2%.

Policy

▌Trump: Powell is a "moron" Cutting interest rates by 200 basis points could save $600 billion a year

Trump stated that he does not intend to fire Federal Reserve Chairman Powell, but referred to him as a "moron" for not lowering interest rates. During a speech at an event at the White House on Thursday, Trump claimed that a 200 basis point rate cut could save the U.S. $600 billion each year. Trump said, "We’re spending $600 billion a year just because a 'moron' is sitting here saying 'I don’t see enough reason to cut rates now.'" Trump added that he agrees with the Fed raising rates if inflation rises, "but right now inflation is going down, and I may have to take some actions."

▌Trump: An attack by Israel (on Iran) is likely to happen

U.S. President Trump stated that an agreement with Iran is close to being reached; he hopes to reach an agreement with Iran; Israel's attacks could ruin the negotiations, and I tend to prefer a more amicable cooperative approach. Something may happen soon, and there is a possibility of a large-scale conflict in the Middle East. He hopes to avoid a conflict with Iran. Iran will have to engage in tougher negotiations. An attack by Israel on Iran is likely to occur.

▌****The Brazilian Parliament is considering the establishment of a Bitcoin strategic reserve, planning to allocate 5% of international reserves

The Brazilian Chamber of Deputies is currently reviewing Bill No. 4501 of 2024, which proposes the establishment of a Bitcoin Sovereign Strategic Reserve (RESBit), planning to allocate up to 5% of international reserves for the purchase of Bitcoin. The bill aims to diversify treasury assets, mitigate exchange rate fluctuations and geopolitical risks, promote the development of blockchain technology, and support Brazil's digital currency (Drex). The reserve will be jointly managed by the Central Bank of Brazil and the Ministry of Finance, using secure technologies such as cold wallets and establishing strict transparency mechanisms. Rapporteur Congressman Luiz Gastão has voted in favor of the bill, emphasizing that a cautious and gradual implementation strategy will be adopted to balance potential benefits and risks.

Blockchain Applications

▌Coinbase will launch perpetual contracts in the United States

Coinbase is set to launch CFTC-compliant perpetual contract trading in the United States. Additionally, Coinbase announced that it will introduce its first credit card, the Coinbase One Card, within the American Express network. This card is limited to Coinbase One members in the U.S. Each purchase transaction will earn up to 4% cashback in Bitcoin, with more information to be disclosed in the fall of 2025. Coinbase will also integrate decentralized exchanges (DEX) on the Base network into the main application, enabling access to millions of on-chain assets.

▌Shopify collaborates with Coinbase and Stripe to promote USDC stablecoin payments

According to two announcements released on Thursday, Shopify has partnered with Coinbase and Stripe to make it easier for merchants to accept payments in Circle's USDC stablecoin. Stripe stated in a press release: "Shoppers will be able to pay with USDC using their preferred crypto wallets on Base. By default, Stripe will allow merchants to receive stablecoin payments in their preferred local currency and deposit them into their bank accounts just like any other payments they receive." Stripe indicated that this service will be available to Shopify merchants in 34 countries/regions. Stripe noted that over the past two years, stablecoin payments have settled more than $94 billion, during which monthly payment volumes have grown from less than $2 billion to over $6.3 billion.

▌Hong Kong Customs collaborates with the University of Hong Kong to develop a cryptocurrency tracking tool

The Hong Kong Customs and the University of Hong Kong have reached a collaboration to jointly develop a cryptocurrency transaction tracking tool to address the growing number of digital asset money laundering cases. Customs Assistant Commissioner Wong Ho-yin stated that this move aims to combat cross-border financial crime. It was reported that from 2021 to May 2025, Hong Kong recorded 39 significant money laundering cases, seven of which involved cryptocurrency, including a suspicious transaction involving 1.8 billion HKD (, approximately 229 million USD ).

▌Uniswap Wallet enables smart wallet features, supporting one-click swaps

Uniswap Labs announced that Uniswap Wallet users can now enable the smart wallet feature, unlocking one-click swaps through bundled transactions, supporting smarter exchanges at lower costs. New wallets created on the Uniswap mobile app or browser extension will be set to smart wallets by default. Future features will include Gas sponsorship and paying Gas fees with any token.

Cryptocurrency

▌Coinbase CEO: Bitcoin Could Become the World Reserve Currency

Coinbase CEO Brian Armstrong stated that Bitcoin could become the world's reserve currency. He also expressed gratitude to Trump for opening a new era for the crypto industry and called for bringing trading, innovation, and jobs back to the United States.

▌CryptoQuant: Stablecoin market capitalization reaches a new high of $228 billion

According to CryptoQuant data, the stablecoin market has seen growth again, with a market value reaching a record $228 billion by 2025, an increase of $33 billion from before, marking a growth rate of 17%. This growth is mainly driven by increased trading activity, expanded payment use, and clearer regulations under the Trump administration in the United States.

▌DeFi Development announces a $5 billion equity financing quota to increase its holdings in SOL

The Nasdaq-listed company DeFi Development Corp. announced on platform X that it has secured a $5 billion equity financing limit to support 1i's continuous accumulation of SOL and accelerate its "SPS" (Shares Per SOL) growth.

▌The SEC has postponed the decision on multiple cryptocurrency ETFs

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the Bitwise Dogecoin ETF, Grayscale Hedera Trust, and VanEck Avalanche ETF.

▌The Depository Trust & Clearing Corporation (DTCC) is exploring stablecoins

According to informed sources, the Depository Trust & Clearing Corporation (DTCC), a core company in the U.S. financial system, is exploring the issuance of a stablecoin, a move that could accelerate the adoption of digital assets across various markets. It is reported that this company is responsible for clearing U.S. stock trades.

▌Bitrue hacker exchanged 16.345 million DAI for ETH and transferred it to Tornado Cash

According to on-chain data analyst Yu Jin's monitoring, the Bitrue hacker is currently using 16.345 million DAI to purchase ETH, and then washing the ETH through Tornado Cash. This DAI was obtained by selling ETH at a price of $3,885 last March. The hacker stole various tokens worth $23 million from the Bitrue trading platform in April 2023, and then exchanged these assets for ETH; in March 2024, he sold 4,207 ETH for 16.345 DAI at a price of $3,885; 1 hour ago, he transferred the DAI and ETH to a new address and is currently converting DAI into ETH, then washing the ETH through Tornado Cash.

▌In the past 12 hours, the entire network has liquidated 555 million USD, mainly long positions

Data shows that in the past 12 hours, the total liquidation amount across the network reached $555 million, of which the liquidation amount for long positions was approximately $505 million, and the liquidation amount for short positions was about $50.8141 million.

Important Economic Dynamics

▌The dollar falls to a three-year low, while the euro rises to a three-and-a-half-year high

Trade uncertainties and Wednesday's lower-than-expected US inflation data jointly pressured the dollar, which extended its decline after breaking key levels, falling to a three-year low against a basket of currencies. European Central Bank Executive Board member Schnabel stated that as inflation stabilizes near the ECB's target, the (accommodative) monetary policy cycle is "coming to an end." The euro also rose against the dollar, reaching a three-and-a-half-year high.

▌The probability of the Federal Reserve keeping interest rates unchanged in June is 97.9%

According to CME's "FedWatch": The probability of the Federal Reserve maintaining interest rates in June is 97.9%, while the probability of a 25 basis point cut is 2.1%. The probability of the Federal Reserve maintaining interest rates in July is 75.6%, the cumulative probability of a 25 basis point cut is 23.9%, and the cumulative probability of a 50 basis point cut is 0.5%.

▌Goldman Sachs: Downgraded the probability of a U.S. recession in the next 12 months to 30%

Goldman Sachs stated that it has reduced the probability of a U.S. economic recession in the next 12 months from 35% to 30%.

Golden Encyclopedia

▌How do 10-year U.S. Treasury yields affect crypto?

Cryptocurrency yields and stablecoins are part of the broader financial world, while the yield on 10-year government bonds influences investor behavior, which in turn affects the cryptocurrency market. The US dollar is the world's reserve currency, and US Treasuries are a global safe haven; changes in the yield on 10-year US government bonds can trigger shocks worldwide. For cryptocurrency investors, this global impact sets the context. An increase in the yield on 10-year government bonds may signal a harsher market environment for cryptocurrency prices and yields, particularly in times of global market turmoil. Conversely, low yields often stimulate risk appetite, thereby boosting speculative assets like cryptocurrencies.