Price Action

⏰ Reminder: we are live on $BERA. After hitting 15.5 it’s settled around 7.5 with over 2.7B traded in the last 24 hours.

ETF Flow

• BTC ETFs: Top by volume – IBIT (1564m), FBTC (402m), GBTC (214m). Net flows: IBIT +44.4m (05/02), FBTC -103.2m, GBTC -42.2m (06/02). Positive inflows signal renewed investor interest.
• ETH ETFs: Top by volume – ETHA (146m), ETHE (54m), ETH (35m). Net flows: ETHA +10.7m, ETHE -7.2m (05/02), ETH +5.2m (06/02). Strong recent inflows, led by ETHA and FETH.
• ETF News: Surge in applications for XRP & SOL ETFs, with Franklin Templeton and Grayscale expanding beyond BTC & ETH under a more crypto-friendly SEC.

Friday

• Big Tech Boosts AI Spending – Microsoft, Alphabet, Amazon, and Meta plan a record $300B AI investment in 2025, sparking investor concerns.
• Trump Administration Eases Crypto Rules for Banks – Banks may soon offer crypto services without prior approval, benefiting JPMorgan and Goldman Sachs.
• Young Investors Favor Risky Assets – Gen Z traders embrace crypto, options, and margin trading, unlike older investors avoiding volatility.
• Trump Memecoin Frenzy Benefits Platforms – The launch of TRUMP token triggered $16B in Solana trades, profiting exchanges more than traders.
• Coinbase Pushes for Clearer Crypto Banking Rules – Calls for regulators to provide guidance for banks offering digital asset services.
• Trudeau, Trump Delay Canada Tariffs – Canada secures a 30-day delay on U.S. tariffs, agreeing to tougher fentanyl and border security measures.
• UK Stagflation Fears Grow – The Bank of England slashes its 2025 growth forecast to 0.75% and cuts rates to 4.5%, raising concerns over inflation and stagnation.
• Hong Kong Challenges US Tariffs – Hong Kong plans a WTO complaint, arguing US tariffs violate its status as a separate customs territory.

Thursday

• MicroStrategy Rebrands to Focus on Bitcoin – The company renames itself “Strategy” to emphasize its crypto-first approach.
• SEC Shifts Key Crypto Regulator – The SEC reassigns its top crypto litigator, signaling a possible shift in enforcement strategy.
• ASX 200 Hits Near Record Close – Australia’s stock market jumps 1.2%, boosted by easing trade tensions.
• Wall Street Offloads Twitter Debt – Banks led by Morgan Stanley sell $5.5B of Twitter debt, attracting major investors.
• India Awaits Central Bank Rate Cuts – Investors expect rate cuts after a budget focused on tax relief but lacking deep reforms.
• Nissan and Honda Merger Nears Collapse – The £48 billion merger faces challenges due to disagreements over terms, with Honda proposing that Nissan become a subsidiary, which Nissan opposed.
• UK Borrowing Costs Drop – The UK’s government borrowing costs have decreased to their lowest since December, easing fiscal pressures.
• Major Companies Announce Layoffs – Firms across various sectors, including tech and energy, announce significant job cuts amid economic uncertainties.

Wednesday

• ⁠  ⁠China Retaliates Against U.S. Tariffs: In response to U.S. tariffs, China has imposed 10-15% tariffs on American liquefied natural gas, coal, crude oil, and farm equipment, and initiated an investigation into Google.
• ⁠  ⁠U.S. Congress Forms Cryptocurrency Working Group: A bipartisan group in Congress is developing policies to support digital asset growth, aiming to clarify cryptocurrency regulations.
• ⁠  ⁠Gold Prices Reach Record High Amid Trade Tensions: Gold has hit an all-time high as investors seek safe havens due to escalating U.S.-China trade tensions and geopolitical uncertainties.
• ⁠  ⁠Nasdaq 100 Futures Drop 0.9% – Alphabet and AMD plunge in pre-market trading after weak earnings, while S&P 500 futures fall 0.5%, signaling a shaky Wall Street rebound.
• ⁠  ⁠European Stocks Fluctuate – The Stoxx Europe 600 remains volatile as tech stock losses are balanced by gains in health care, driven by strong guidance from Novo Nordisk.
• ⁠  ⁠Coinbase Urges Regulatory Clarity for Banks Offering Crypto Services: Coinbase is calling for U.S. banking regulators to provide clear guidelines for banks to offer cryptocurrency services and partner with digital asset companies.
• ⁠  ⁠Apple Falls as China Signals Antitrust Probe – Apple shares drop pre-market after China’s regulator hints at an investigation into its policies. Key U.S. earnings today include Uber, Disney, Ford, and Qualcomm.

Monday

• ⁠U.S. Imposes New Tariffs: The U.S. has enacted 25% tariffs on Canada and Mexico and 10% on Chinese goods, citing trade and security concerns.
• ⁠Canada and Mexico Retaliate: In response, Canada and Mexico announced counter-tariffs on U.S. goods, escalating trade tensions.
• ⁠Global Markets React: Stock markets saw sharp declines and increased volatility following the tariff announcements.
• ⁠AI Industry Pushes for U.S. Support: Tech leaders are urging the U.S. government to prioritize AI development to compete with China.
• ⁠Belgium’s New Prime Minister: Bart De Wever takes office, marking a political shift in the country.
• ⁠Australian Bushfires Worsen: Extreme heat and wind have intensified bushfires in Victoria, leading to evacuations and property damage.
• ⁠Crypto Market Sell-Off: Bitcoin plunged further, dropping below $90,000, while Ethereum collapsed to $2,100, wiping out over $600B from the crypto market amid widespread liquidations.