🐶📰 Weekend Update

BTC $83,421 (1.2%) | ETH $1,807 (1.5%) | SOL $120 (5.0%)

Welcome to the Daily Bone Weekend Update where we recap the top stories from the week. Be sure to check out our daily newsletter to get all of your news hot off the press each and every weekday!

Headlines

• US implemented global tariffs that exceeded expectations — China retaliated

• The S&P dropped 9% in its worst week since the Covid crisis in 2020 — Odds of a US recession in 2025 hit new all time highs

• Traders now see a 50% chance of fourth Fed rate cut this year

• Bitcoin outperformed equities setting a new ATH vs the Mag 7 and the crypto total market cap is even over the last 7 days

• Circle filed for an IPO targeting a $4B-$5B raise but now is considering a delay

• BlackRock CEO Larry Fink warned that the US dollar could lose reserve status to Bitcoin

Funds and Filings

• Fidelity announced a crypto IRA for trading Bitcoin, Ethereum, and Litecoin

• Alabama introduced a bill for state investment in Bitcoin

• Grayscale launched two new ETFs for Bitcoin income generation

• GameStop completed $1.5 billion offering to fund Bitcoin reserve

• VanEck registered first BNB ETF in US

• US Senator presented a bill for investign retirement funds into crypto

Crypto News

• SEC chair candidate Paul Atkins cleared Senate Banking Committee

• The STABLE Act advanced with a 32-17 vote

• FTX canceled 392K customer claims totaling $2.5B due to incomplete KYC

• Tether announced plans to launch a new stablecoin for the U.S. market

• Ethereum topped Solana in monthly DEX trading volume for first time since September

Tokens and NFTs

• Kaito introduced the Rewards Station outlining potential cash and token incentives

• Treasure DAO shut down game operations

• CZ burned over $3M worth of TUT and BROCCOLI BNB memecoins

• WIF to return Vegas Sphere contributions