Pakistan builds reserves SEC discusses DeFi $11.7 billion Options nearing expiration

Crypto Market Daily: Pakistan to Build Bitcoin Reserves, SEC to Host DeFi Roundtable

Regulation/Macro

Pakistan has announced plans to establish a government-led Bitcoin strategic reserve. The country's government has formed a national encryption committee to explore a regulatory framework and allocated 2000 megawatts of surplus electricity for Bitcoin mining.

The U.S. Securities and Exchange Commission ( SEC ) will hold a roundtable on "Decentralized Finance and the American Spirit" at its headquarters in Washington on June 9. The event will be publicly live-streamed and will include panel discussions and a public Q&A session.

New York City Mayor Eric Adams calls for the abolition of the BitLicense encryption license system issued by the New York State Department of Financial Services (NYDFS), and proposes the idea of issuing Bitcoin municipal bonds "BitBond".

Poland's presidential candidate Karol Nawrocki promised to support the development of the encryption industry after being elected and oppose regulatory policies that limit investment freedom.

The minutes from the Federal Reserve meeting indicate that uncertainty regarding the economic outlook has intensified. Options pricing suggests that there may be one to two interest rate cuts within the year.

Project Updates

Plume co-founder Eugene unfortunately passed away earlier this week. The team is committed to continuing the technological innovations that Eugene was involved in building.

Binance Alpha will become the first platform to launch Assisterr AI (ASRR), with trading opening on May 30.

Musk denies that xAI has signed a partnership with Telegram, as previous news had driven the price of the TON token up by 14%.

Trump posted images on social media that include PEPE and his own likeness.

Market Data

Deribit data shows that on May 30th, over $11.7 billion in crypto options will expire. The maximum pain point price for Bitcoin options is $100,000.

Bitcoin whale James Wynn has returned all of his $87 million profit due to high leverage operations and has lost $3 million of his principal.

The Bitcoin spot ETF had a total net inflow of $433 million yesterday, continuing a 10-day net inflow. The BlackRock ETF IBIT had a net inflow of $481 million in a single day.

Institutional Dynamics

BlackRock plans to subscribe for about 10% of Circle's IPO, while Ark Invest plans to subscribe for $150 million in shares.

The team behind Freysa AI, Eternis AI, has raised $30 million in funding from companies such as Coinbase Ventures.

The Web3 game distribution platform Oncade has completed $4 million in financing, led by a16z crypto CSX.

The crypto venture capital firm Metalayer Ventures has launched a $25 million fund focused on stablecoins and tokenization.

Many listed companies have announced plans to increase their holdings of Bitcoin or issue bonds to purchase crypto assets, including The Smarter Web, Matador, VivoPower, and others.

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ForkTonguevip
· 07-16 21:25
As soon as I hear about government reserve coins, I know someone is going to Be Played for Suckers.
View OriginalReply0
PortfolioAlertvip
· 07-16 16:21
Mining Computing Power has been further dispersed.
View OriginalReply0
TeaTimeTradervip
· 07-15 13:56
Is the SEC going to play with Decentralized Finance now?
View OriginalReply0
AirdropworkerZhangvip
· 07-14 13:56
Another license is about to be lost. Where is the lubrication now?
View OriginalReply0
LoneValidatorvip
· 07-14 13:56
Things need to be built, even ghosts can't run away.
View OriginalReply0
HorizonHuntervip
· 07-14 13:44
Is there a reserve again? Can it really be stored?
View OriginalReply0
PumpStrategistvip
· 07-14 13:43
The crypto world is really interesting, let's see who can run faster.
View OriginalReply0
DYORMastervip
· 07-14 13:41
Is the SEC playing so extravagantly?
View OriginalReply0
DAOdreamervip
· 07-14 13:33
Hehe, the SEC is still the same SEC.
View OriginalReply0
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