Kategorie: Crypto Markets

• Bitcoin surged ~3% to $97,200 after US and China signaled upcoming trade talks in Switzerland.
• US Treasury Sec. Bessent & China’s Commerce Ministry confirmed willingness to engage on tariff issues.
• US stock futures (Nasdaq 100, S&P 500) jumped ~1% on the positive trade negotiation news.

A significant thaw in the often-frosty trade relations between the United States and China sent a jolt of optimism through global financial markets late Tuesday and into Wednesday, propelling risk assets, including Bitcoin, sharply higher.

The positive momentum came as officials from both nations signaled a mutual willingness to engage in substantive discussions aimed at de-escalating the ongoing tariff conflict.

The renewed hope for a trade resolution was sparked by key statements from both sides.

US Treasury Secretary Scott Bessent announced plans to travel to Switzerland for trade talks with his Chinese counterparts over the upcoming weekend.

“The current tariffs and trade barriers are unsustainable, but we don’t want to decouple,” Bessent stated, signaling a potential shift in the US approach.

Echoing this sentiment, a spokesperson for China’s Ministry of Commerce confirmed Beijing’s readiness to engage.

“Senior US officials have made a series of remarks hinting at adjustments to tariffs and have expressed, through various channels, a desire to engage with the Chinese side on tariff-related issues,” the spokesperson said, according to CoinDesk report.

China has carefully evaluated these messages from the US side and, after fully considering global expectations, China’s own interests, and the appeals of American industries and consumers, has decided to agree to engage with the US.

This news of impending high-level dialogue triggered an immediate positive reaction in markets.

Bitcoin (BTC) surged approximately 3%, climbing to around $97,200.

Futures contracts for major US stock indices also jumped, with both Nasdaq 100 and S&P 500 futures up about 1% in the hours following the announcements.

Amidst trade hopes, Trump’s crypto ventures draw senate scrutiny

While markets cheered the trade developments, a separate undercurrent of political and regulatory scrutiny emerged concerning President Donald Trump’s personal and business ties to the cryptocurrency industry.

Senator Richard Blumenthal, the ranking Democrat on the Senate Permanent Subcommittee on Investigations, initiated a preliminary inquiry into potential conflicts of interest and legal violations stemming from these ventures.

On Tuesday, Senator Blumenthal dispatched letters to executives associated with Trump-affiliated crypto entities, including Bill Zanker of Fight Fight Fight LLC (linked to the TRUMP memecoin) and Zach Witkoff, a co-founder of World Liberty Financial (associated with the USD1 stablecoin).

The letters also targeted entities like CIC Digital LLC (involved in Trump’s NFTs) and DTTM Operations LLC (manager of Trump’s IP rights).

“The Permanent Subcommittee on Investigations is conducting a preliminary inquiry into potential conflicts of interest and violations of the law from President Trump’s cryptocurrency ventures … and associated businesses’ financial dealings with foreign nationals, foreign governments and other cryptocurrency firms,” both letters stated.

They explicitly questioned whether these businesses “may be enabling the violation of government ethics requirements.”

The inquiries seek detailed information regarding ownership structures, investment sources (particularly concerning foreign governments), revenue generation, and protocols for identifying or blocking participation by individuals facing prosecution or investigation.

Blumenthal also requested records tied to these Trump-affiliated crypto businesses.

As Democrats are in the Senate minority, Blumenthal currently lacks subpoena power for this inquiry unless his Republican counterpart, Senator Ron Johnson, co-signs the effort.

Senator Johnson’s office did not immediately respond to a request for comment.

This Senate probe reflects a broader unease among Democrats regarding Trump’s crypto activities.

Earlier this week, Representative Maxine Waters, the leading Democrat on the House Financial Services Committee, objected to a joint hearing on crypto market structure legislation, opting instead to host a separate hearing focused specifically on these crypto tie-ups.

Furthermore, a recent statement from Senator Ruben Gallego and several other Senate Democrats, indicating they would not support the current iteration of the Senate’s stablecoin bill, also appears linked to these concerns.

A key trigger was the announcement by Eric Trump that Abu Dhabi-based investment firm MGX would use the Trump-affiliated USD1 stablecoin for a $2 billion investment into the Binance cryptocurrency exchange.

Adding to the legislative pressure, Senator Chris Murphy introduced a bill on Tuesday aimed at banning the US president and other senior government officials from issuing memecoins or other financial assets.

While financial markets reacted positively to signs of a potential US-China trade détente, the unfolding scrutiny of President Trump’s personal crypto dealings introduces a new layer of political and regulatory complexity for the digital asset industry in Washington.

The post Crypto news today: Bitcoin surges past $97K as US, China signal trade talk breakthrough appeared first on CoinJournal.

• CRO price was down nearly 2% despite 21Shares’ launch of a new Cronos exchange-traded product.
• The ETP is live on the Euronext Paris and Euronext Amsterdam exchanges.
• Cronos’ price has struggled amid the broader market downturn.

21Shares, a leading crypto asset manager, launched a new exchange-traded product (ETP) tied to Cronos, a Layer 1 blockchain network developed by Crypto.com.

This move aims to provide investors with regulated exposure to Cronos’ native token, CRO, without the complexities of managing digital wallets or navigating crypto exchanges.

The announcement, shared by Cronos on X, highlights a growing trend of major asset managers integrating cryptocurrencies into traditional financial systems.

Many of these have recently hit the market via exchange-traded products.

The investment vehicles offer a bridge for investors seeking exposure to the fast-evolving web3 ecosystem.

21Shares announces Cronos ETP launch

Exchange-traded products like ETPs have become a popular vehicle for investors to gain exposure to cryptocurrencies without directly owning them.

ETP products, traded on regulated stock exchanges, track the performance of underlying assets like $CRO and are accessible through conventional brokers and banks.

The launch of the 21Shares Cronos ETP aligns with the broader market’s increasing acceptance of crypto-based ETFs.

The 21Shares Cronos ETP, trading under the ticker CRON, is now live on Euronext Paris and Euronext Amsterdam, as confirmed by both 21Shares and Cronos.

With a 2.5% annual fee, the ETP allows investors to add $CRO to their portfolios seamlessly.

This product eliminates the need for self-custody, a common barrier for traditional investors hesitant to engage with cryptocurrencies directly.

The launch sees 21Shares, a Zurich-based firm, continue to expand its suite of crypto-linked ETPs, which already includes various cryptocurrencies.

The company has also been making strides in the US.

Recently, it filed an S-1 registration form for an SUI ETF, joining many other fund applications before the SEC.

Experts believe the regulator will approve several of the ETFs before the end of the year.

CRO price performance amid market trends

Despite the positive news, the price of $CRO experienced a slight decline, with the altcoin’s price down nearly 2% in the past 24 hours at the time of writing.

This movement aligns with the broader cryptocurrency market performance in the past 24 hours.

Bitcoin, which rose to highs of $97k over the weekend, was down to near $93k as stocks also struggled amid tariff uncertainty.

CRO price could dip further amid this outlook. However, the launch of the ETP may yet spark fresh optimism within the Cronos community, helping CRO higher.

The post CRO price forecast as 21Shares launches Cronos-linked ETP appeared first on CoinJournal.

• TST fails to break $0.070 resistance, support at $0.0648.
• VINE eyes $0.0324 support amid potential death cross.
• BROCCOLI’s fate unclear after CTO post sparks selloff.

Three meme tokens—Test Token (TST), Vine (VINE), and Broccoli 714 (BROCCOLI)—have emerged as high-volatility plays this week on BNB Chain, generating a combined $139 million in 24-hour trading volume.

TST, a former tutorial token, has shocked markets by gaining serious traction.

VINE is flashing signs of instability with trading volumes exceeding its market cap, and BROCCOLI has dropped sharply on rumours of a sudden shutdown.

This sudden market shift follows a 21.14% weekly drop in BNB Chain’s overall decentralised exchange activity, even as it remains the third-largest chain by weekly volume.

The surge in meme coin activity may be filling that gap, drawing speculative capital from other ecosystems.

These moves reflect a broader trend where social sentiment, token mechanics, and liquidity dynamics have more immediate impact on price than fundamentals, particularly in meme coin markets.

TST gains momentum

Test Token (TST), originally launched on the four.meme platform as a demonstration project has unexpectedly gained momentum.

Its daily volume rose by nearly 65%, reaching $50.75 million, despite a broader downturn in BNB Chain DEX activity.

The network still ranks third by seven-day DEX volume, behind Solana and Ethereum, with $6.2 billion.

TST has a circulating supply of 900 million tokens, capped at 1 billion, with a fully diluted valuation of $64.5 million.

The token recently tested resistance at $0.070. Analysts are watching key support at $0.0648.

A breakdown may lead to $0.060. If bulls regain strength and break past $0.072, the next resistance lies at $0.0865.

Source: CoinMarketCap

VINE under pressure

Vine (VINE), launched in January 2025, has dropped 7% in the past day.

Its $43.86 million trading volume now exceeds its $35.25 million market cap, pushing the volume-to-market cap ratio to 125.72%.

This suggests speculative churn and a fragile price base.

VINE’s total supply is 1 billion tokens, with a fully diluted valuation of $35.25 million.

Technical charts show a potential death cross forming, which could send the token to support at $0.0324.

Source: CoinMarketCap

A breakdown from there might lead to $0.0287 or $0.0262. If the trend reverses, resistance levels to watch include $0.0389, $0.0424, and $0.0482.

BROCCOLI crashes

BROCCOLI 714 has plunged over 10% following a social media post from an account claiming to be its CTO, alleging that the project will be discontinued.

No official statement has followed, fuelling speculation that the post may be unauthorised.

BROCCOLI launched in February 2025 with a maximum supply of 1 billion tokens and a fully diluted valuation of $27.36 million.

The lack of clarity has driven selling pressure, pushing the token toward its $0.025 support.

Source: CoinMarketCap

If this level fails, the next target is $0.022. If the project team clarifies the situation, recovery toward $0.0292, then $0.032 and $0.034, remains possible.

Volatility reflects shifting sentiment

The divergence across TST, VINE, and BROCCOLI shows how sentiment, not fundamentals, continues to drive meme coin action.

Despite an overall decline in DEX traffic, traders are zeroing in on speculative coins for quick moves.

TST’s unlikely rise, VINE’s imbalance, and BROCCOLI’s panic selling all signal the unpredictability of this corner of the market.

As traders monitor key technical levels, meme coins on BNB Chain remain volatile assets driven by social sentiment, sudden announcements, and liquidity spikes.

With over $139 million moving across just three coins, investors are likely to stay tuned to every shift in these token narratives.

The post Meme coin chaos: TST, VINE, and BROCCOLI see extreme volatility on BNB Chain appeared first on CoinJournal.

• A three-year compliance period is proposed for digital asset firms.
• Democrats raise concerns about national security and money laundering.
• Crypto leaders say the US risks falling behind Europe and Asia on regulation.

Coinbase CEO Brian Armstrong has intensified pressure on the US Senate to act on crypto regulation, calling for a debate on the bipartisan GENIUS Act, which aims to establish a national framework for stablecoins.

With more than $1 trillion in stablecoin volume settled monthly and global competitors advancing their regulatory regimes, Armstrong’s urgency comes amid fears that the US may lose its foothold in digital finance.

His call underscores the growing push from crypto leaders for legislation that supports innovation while offering clear rules and consumer protections.

GENIUS Act sets uniform standards for stablecoins

Formally known as the Lummis-Gillibrand Payment Stablecoin Act, the GENIUS Act would mandate all stablecoins be fully backed 1:1 by US dollars, insured bank deposits, or Treasury bills, a move designed to eliminate concerns about solvency and run risk.

Only firms with a national licence would be permitted to issue these tokens, putting an end to the current patchwork of state-by-state regulations.

A three-year compliance window would give firms time to adapt, during which digital asset service providers must adjust their systems to align with new standards.

Supporters argue this would not only protect users, but also encourage institutional adoption by setting a clear regulatory perimeter.

Coinbase and other platforms dealing with dollar-pegged tokens such as USDC are expected to benefit if the act becomes law, potentially unlocking broader financial applications such as instant settlement and tokenised payments.

Democrats cite AML, security gaps as concerns

Despite initial bipartisan support, the bill is facing internal hurdles.

Senate Democrats have raised objections around national security, money laundering, and consumer protection, arguing the bill’s current provisions may not go far enough in curbing illicit finance.

This hesitation could delay progress before the August recess, even as Republicans and many industry leaders urge immediate action.

Without a compromise, the bill could stall in committee, leaving stablecoins in continued regulatory limbo.

Armstrong warned on X that the longer the US waits, the more likely it is to fall behind regions like the European Union, which already passed the MiCA framework, and Hong Kong, which plans to finalise its stablecoin rules this year.

Analysts have said this regulatory lag could push innovation offshore, depriving the US of its lead in blockchain-driven finance.

Industry calls the bill a turning point

If passed, the act would give stablecoin firms a green light to operate with confidence, possibly attracting more traditional finance players to the space.

Coinbase’s advocacy, including Armstrong’s direct appeal to lawmakers and other lobbying efforts in Washington, indicates that exchanges see regulatory certainty as key to unlocking the next phase of crypto adoption.

Still, the bill’s path to passage remains uncertain. It requires 60 votes in the Senate to move forward, which means several holdout Democrats would need to be swayed.

With time running out ahead of the August recess, much depends on whether lawmakers can strike a balance between risk mitigation and industry growth.

The post Coinbase CEO pushes for US stablecoin rules as Senate weighs GENIUS Act appeared first on CoinJournal.

• KuCoin released its latest Proof of Reserves report, offering a detailed snapshot of its current digital asset holdings.
• According to the report, KuCoin’s Bitcoin reserve ratio stands at 106%.
• The data indicates that KuCoin holds more BTC than it owes to its customers.

Crypto exchange KuCoin has refuted claims that it lost over 77% of its Bitcoin (BTC) reserves since mid-2023.

In a public statement, the company described the circulating figures as inaccurate and misleading, emphasizing its ongoing commitment to transparency, user security, and responsible reporting in the digital asset space.

The rebuttal comes in response to a report by blockchain analytics platform Onchain School, which alleged that KuCoin’s BTC holdings plunged from 18,300 BTC in June 2023 to approximately 4,100 BTC by April 2025—a sharp decline of nearly 14,200 BTC.

The report cited data from CryptoQuant, attributing the alleged drop to KuCoin’s implementation of mandatory Know Your Customer (KYC) rules last year.

KYC policy blamed for alleged Bitcoin outflows

The central argument in Onchain School’s analysis links KuCoin’s supposed BTC reserve decline to its KYC policy introduced in August 2023.

The new regulation required all users to complete identity verification—a move intended to enhance security and curb criminal activity, including money laundering and terrorism financing.

The analytics firm speculated that the stricter compliance measures led to mass user withdrawals due to privacy concerns.

It also noted that KuCoin’s alleged reserve drop was steeper than similar trends seen across centralized exchanges, suggesting a more acute user response in this case.

However, KuCoin pushed back on these conclusions, saying the figures do not accurately represent the current state of its reserves and warning that such misinformation could damage trust across the broader crypto industry.

KuCoin publishes proof-of-reserves to counter claims

To counter the narrative, KuCoin released its latest Proof of Reserves report—its 30th to date—offering a detailed snapshot of its current digital asset holdings.

According to the report, KuCoin’s Bitcoin reserve ratio stands at 106%, covering approximately 9,751 BTC in user balances and 10,306 BTC in exchange-controlled wallets.

The data indicates that KuCoin holds more BTC than it owes to its customers, reassuring users of the platform’s solvency.

In addition to Bitcoin, the report revealed overcollateralization for other major assets:

• Ethereum (ETH): 116% reserve ratio

• Tether (USDT): 114% reserve ratio

• USD Coin (USDC): 109% reserve ratio

KuCoin stated, “We’re concerned about the spread of false or misleading information by some platforms. Irresponsible reporting misleads users and undermines trust in the crypto ecosystem.”

The post KuCoin denies claims of 77% Bitcoin reserve drop, calls figures misleading appeared first on CoinJournal.