đ What's new in crypto over the last 24 hours (05/03) đ
âşď¸ $BTC
surged to ~$74K and then retreated to ~$72K; nearly $600M in positions were liquidated, about 80% from the short side
âşď¸ The U.S. Senate voted 53-47 to reject a proposal limiting President Trump's authority to strike Iran
âşď¸ The February ADP private employment report from the U.S. exceeded forecasts, reinforcing the likelihood that the Fed will continue to hold interest rates steady.
âşď¸ ETF cash flow on 04/03
- BTC ETF: +155.3M USD (BlackRock has no data yet)
- ETH ETF: +130.1M USD (BlackRock has no data yet)
- SOL ETF: +19.1M USD
âşď¸ The SEC has sent cryptocurrency classification guidelines to the White House; the CFTC has also proposed a regulatory framework for the prediction market.
âşď¸ President Trump is said to have met privately with the CEO of Coinbase to discuss crypto market structure legislation.
âşď¸ Morgan Stanley has chosen Coinbase and BNY Mellon as the Bitcoin custodian for its ETF.
âşď¸ The Chinese electric vehicle company Jiuzi Holdings has approved a plan to reserve up to 1 billion USD in crypto including BTC, ETH, and BNB.
âşď¸ Sui launched the stablecoin USDsui, with profits from reserve assets to be used for buyback & burn $SUI
.
âşď¸ Optimism announced it will stop supporting op-geth from 31/5; nodes must switch to op-reth before the Karst hard fork to avoid a split.
âşď¸ The a16z crypto fund is raising its fifth fund worth about 2 billion USD, expected to close in the first half of 2026.