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Historic Bitcoin Move from Texas: Strategic Reserve Act Passed
One of the largest states in the U.S., Texas, has taken a historic step in the field of digital assets. On May 21, 2025, the Texas House of Representatives passed the “Strategic Bitcoin Reserve and Investment Act” (SB21) by a vote of 101 to 42. This legislation provides a legal basis for the state of Texas to invest public funds in Bitcoin and to add BTC to its official reserves.The bill now awaits the signature of Texas Governor Greg Abbott. The governor may either sign or veto it. However, if no action is taken, the bill will automatically become law within 20 days.Bitcoin Becomes an Official Reserve Asset for TexasWith SB21, Texas will be able to use surplus general revenue to purchase Bitcoin. These purchases will be held in a special fund, established independently from the state treasury, and stored using high-security methods such as cold storage.The law also introduces transparency and reporting requirements, similar to those imposed on gold held in the Texas Bullion Depository. Each quarter, the dates, quantities, and costs of Bitcoin purchases will be disclosed to the public.While the legislation doesn’t specify a dollar limit, it states that the funds can only be held in jurisdictions where Bitcoin is legally recognized as property. This clause provides an important regulatory safeguard.Emphasis on Financial Sovereignty and the Digital FutureOne of the bill’s main sponsors, Representative Giovanni Capriglione, said the following in his pre-vote speech:“Today’s action shows Texas’ commitment to becoming a leader in the digital age. We are now embracing Bitcoin—a modern, borderless store of value—instead of traditional gold.”This law is not just an investment move; it is also part of Texas’ broader vision of financial sovereignty. The bill emphasizes that Bitcoin can serve as a hedge against inflation and economic volatility.Additionally, the state auditor is tasked with researching revenue potential related to state fees through the Lightning Network. This means Bitcoin is being evaluated not just as an investment asset, but also as a payment infrastructure.Texas Becomes the Third State to Establish a Bitcoin ReserveWith this law, Texas becomes the third U.S. state, after Arizona and New Hampshire, to direct public assets toward Bitcoin as part of a strategic reserve. As Senator Charles Schwertner pointed out, this initiative could increase Texas’ monetary flexibility and provide a buffer against financial shocks.Key Highlights of the Law:The state can purchase Bitcoin using surplus general revenueBTC will be stored in a special reserve fundAll transactions will be transparently reportedThe Lightning Network’s revenue potential will be examinedReserve assets can only be held in jurisdictions with legal recognition of BitcoinTexas’ SB21 bill marks a major milestone in the official recognition of cryptocurrencies as state-level financial instruments. The fact that Bitcoin is now being considered not just as an investment but as a strategic reserve asset may represent a shift that transforms not only the crypto market, but also the financial system as a whole.All eyes are now on Governor Greg Abbott and what decision he will make in the coming days. But one thing is already clear: U.S. states are lining up for Bitcoin.
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21 May 2025
Crypto Message from the Supreme Court of India: Regulation is Necessary, Not Banned
The Supreme Court of India has made a significant statement regarding the country’s stance on cryptocurrencies. The Court emphasized that an outright ban on digital assets is unrealistic, and instead stressed the need for a clear and effective legal framework. Justice Surya Kant stated that the government has fallen short in regulating the sector, which poses serious economic risks.This assessment from the Supreme Court serves as a clear warning against the longstanding regulatory uncertainty surrounding crypto in India. One of the main issues highlighted by the judiciary is the fact that this sector, which has been primarily controlled through taxation policies, still lacks a proper legal foundation.“You Tax It But Don’t Regulate It”Justice Kant pointed out the 30% tax imposed on crypto gains and criticized the contradiction of the government profiting from a sector it fails to regulate. He stated that cryptocurrencies are currently creating a sort of “parallel economy” in the country, which could have dangerous implications for the broader economy.Speaking during an ongoing case related to Bitcoin transactions, Justice Kant emphasized the following:Key Issues Raised by the Supreme Court:The government collects taxes from crypto income but fails to establish a legal regulatory framework.The uncontrolled growth of cryptocurrencies increases the risks of money laundering and tax evasion.A complete ban is not a viable solution, as it is technologically difficult to enforce and practically ineffective.The government previously stated it would publish a consultation paper, but this has yet to be released to the public.The current uncertainty creates a risky environment for both investors and companies in terms of sustainability.Government Signals Possible ReviewIn response to the Court’s criticism, India’s Additional Solicitor General—representing the government—hinted that the current policies could be reviewed. Responding with the words, “We will take instructions, sir,” the Solicitor General indicated that India’s crypto policy may be reconsidered.This dialogue suggests that the Indian government may soon be compelled to take more concrete steps on cryptocurrency regulation and may signal the introduction of a new regulatory framework to be presented to the public.
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20 May 2025
Cryptocurrency Move from the Central Bank of Russia: Restrictions Are Lifted
The Central Bank of Russia is preparing to ease restrictions on financial products tied to Bitcoin and other cryptocurrencies. This decision signals a significant policy shift in the country’s crypto regulations. Russia’s move toward a more flexible stance on cryptocurrencies is especially notable amid a period of intensified international sanctions.Crypto Exchange Exclusive to “Qualified” InvestorsA new plan, jointly developed by the Central Bank of Russia and the Ministry of Finance, envisions the establishment of a crypto exchange accessible only to high-net-worth individuals who meet certain criteria. This exchange will operate under an “Experimental Legal Regime” (ELR) and will only be available to investors who either:Have an annual income exceeding 50 million rubles (approximately $600,000), orPossess assets worth over 100 million rubles (around $1.2 million).This step indicates that the government aims to promote institutional-level crypto adoption without relinquishing control, rather than granting broad freedoms to retail investors.Selective Approach to StablecoinsThe new regulations may also impose restrictions on the trade of certain stablecoins, such as Tether (USDT). There is ongoing discussion about banning assets issued by entities based in “hostile countries”, especially those that carry a risk of being frozen or blocked. This demonstrates Russia’s intention to incorporate geopolitical risk assessments into its crypto regulations and its cautious stance toward products issued by U.S.-based companies.Crypto Expansion in International TradeRussia aims to utilize cryptocurrencies not just as investment tools but also as a way to bypass sanctions and to create alternative payment channels in international trade. This aligns with the country’s strategic goal of reducing its dependence on the dollar-based system. However, experts emphasize that this approach still raises serious concerns in terms of sustainability and regulatory transparency.
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20 May 2025
Ondo Finance Launches 24/7 Conversion Service with PYUSD
Ondo Finance has launched a 24/7 instant conversion service between PayPal’s stablecoin PYUSD and its own tokenized U.S. Treasury bond representative, OUSG. This development eliminates the time restrictions encountered in traditional financial transactions while providing easier access to digital assets.Instant and Seamless Transition Between OUSG and PYUSDThanks to the system announced by Ondo, investors will be able to create OUSG tokens using PYUSD at any time or convert their existing OUSG holdings into PYUSD. This conversion service, active 24 hours a day, 7 days a week, currently stands out as the largest stablecoin-to-Treasury fund bridge with a capacity of $25 million.Ondo Finance CEO Nathan Allman stated, “The ability to instantly convert OUSG into PYUSD provides our clients with a high-quality liquidity option.” He also added that they are pleased to expand their collaboration with PayPal in this area.Next-Gen Liquidity Infrastructure: Ondo NexusThis service is also part of Ondo’s new platform called Nexus. Nexus allows tokenized U.S. Treasury bonds to be redeemed by third parties using stablecoins. With the PYUSD integration, this system makes real-world assets more liquid and accessible in digital systems.OUSG currently attracts attention with a total value locked exceeding $525 million. Offering daily interest yield, OUSG is supported on Ethereum and Solana networks. The funds are directed to leading institutions such as BlackRock, Franklin Templeton, WisdomTree, and FundBridge Capital.A New Bridge Between Traditional Finance and CryptoThe 24/7 instant conversion between PYUSD and OUSG is not just a technical innovation; it also represents a new bridge between the digital and traditional financial worlds. The instant liquidity makes investor decisions faster and more efficient, while also enabling stablecoins to be used in new areas.
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16 May 2025
FTX will Pay $5 Billion to Creditors on May 30
The crypto exchange FTX has reached a significant milestone in its post-bankruptcy recovery process. The company announced that, as of May 30, 2025, it will make cash payments exceeding $5 billion to its creditors. This payment will be the second major distribution phase of the recovery process.Second Round of Repayments BeginsIn the process managed by the FTX Recovery Trust, users who have previously completed the required steps will receive their payments through their chosen distribution service providers, such as BitGo or Kraken. Distributions will begin on May 30 and are generally expected to be completed within 1–3 business days.FTX will prioritize requests of $50,000 and above in these payments. In the first round of payments made earlier, $800 million had been distributed for claims under $50,000. Now, an additional $400 million has been allocated for these users, and this distribution will take place later in the year.Market Impact ExpectedAll repayments will be made in cash. However, a significant portion of users who remained in crypto during FTX’s collapse are expected to convert this cash back into cryptocurrencies. Especially the bullish expectations for the second half of the year may trigger this shift.Analysts believe that such a large cash inflow into the market could have a buying pressure effect in the spot market. A large number of investors harmed by the FTX collapse may tend to recover their losses through crypto.Total Expected Repayment Could Reach $16 BillionAccording to estimates, FTX’s total bankruptcy estate is between $14.7 and $16.5 billion. The company predicts that 98% of eligible creditors will receive at least 118% of their original claims back in cash.On the other hand, users who do not verify their claims through official portals by June 1 face the risk of losing their right to this distribution. FTX has issued a warning to users in this regard.FTX Repayment Process – Quick NotesPayment date: May 30, 2025Total amount to be paid: $5 billionPriority groups: Claims of $50,000 and aboveDistribution providers: BitGo and KrakenDelivery time: 1–3 business daysCompliance process deadline: June 1, 2025
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15 May 2025
Daily Market Summary with JrKripto 14 May 2025
You can find today’s “Daily Market with JrKripto,” where we compiled the most important developments in global and local markets, below. Let’s analyze the general market conditions together and take a look at the latest evaluations.Bitcoin (BTC) is currently trading at $103,170. The strong upward trend that started from the $75,930 level gained momentum after surpassing the $101,059 and $104,000 resistance levels. However, with the price pulling back from the $104,629 level, a short-term correction movement is being observed. During this process, the $101,059 level stands out as the first significant support. If this level is maintained, the upward trend may gain momentum again, and if the $104,629 resistance is broken, the targets of $108,000 – $109,850 may come back into focus. Otherwise, the $96,115 and $94,570 levels will be followed as support levels in downward movements.Ethereum (ETH), on the other hand, is trading at the $2,600 level. With the effect of the upward movement that started from the $1,486 level, the $2,453 resistance was broken, and the price rose up to the $2,550 level. However, with some profit-taking at this point, the price has pulled back slightly. Currently, the $2,453 level is being tested as support. If it can remain above this level, the $2,595 and $2,981 resistance levels may once again become targets. However, if it drops below $2,453, the $2,095 and $1,790 levels should be followed as gradual support zones. Holding above $2,453 is critically important for the upward trend in ETH to continue.Crypto NewsTrump: I’m a big fan of crypto.SEC has accepted 21Shares’ spot DOGECOIN ETF application.SEC has postponed Grayscale’s Litecoin spot ETF application.Trump: What’s up with “Always Delayed Powell”? It’s not fair for an America that’s ready to bloom.Nvidia announced a “strategic partnership” with Humain to build artificial intelligence factories in Saudi Arabia.CryptocurrenciesTop Gainers:GRASS → increased by 32.5% to $2.14ETHFI → increased by 30.3% to $1.35TDCCP → increased by 30.1% to $0.41883782RAY → increased by 19.4% to $3.78SYRUP → increased by 17.3% to $0.30284282Top Losers:MOODENG → decreased by 10.9% to $0.27000123KAITO → decreased by 8.3% to $1.87PNUT → decreased by 4.5% to $0.41688071DEXE → decreased by 3.9% to $12.31MOG → decreased by 3.8% to $0.00000107Fear Index:Bitcoin: 71 (Greed)Ethereum: 58 (Greed)Dominance:Bitcoin: 62.07% ▼ 0.18%Ethereum: 9.72% ▼ 0.05%Daily Total Net ETF InflowsBTC ETFs: -$91.40 MillionETH ETFs: $13.50 MillionGlobal MarketsInflation data released in the U.S. in April came in below expectations, and with this development, the positive news from U.S. President Donald Trump’s investment talks with Gulf countries led to positive closings in the stock markets.According to the released CPI data, headline inflation came in at 0.2% monthly, below the expected 0.3%. Annual inflation also came in at 2.3%, below the market expectation of 2.4%. This marked the lowest level seen since February 2021. Core inflation, which excludes food and energy, remained in line with expectations at 2.8% annually, while it was 0.2% monthly, below the 0.3% forecast.The slowdown in service inflation continued, but the price increases in housing and rent items remained strong. Additionally, decreases were observed in food, used car, and clothing prices. On a monthly basis, energy prices rose by 0.7%, healthcare services by 0.5%, and housing costs by 0.3%. In some items, price increases due to tariffs were also observed.In addition to the inflation data, investments announced during U.S. President Donald Trump’s meeting with Saudi Crown Prince Mohammed bin Salman also supported the markets. Trump announced that a total investment of $600 billion is being worked on between the two countries. As part of this, a $142 billion arms deal was signed. Investment plans for data centers from tech giants like Nvidia, Amazon, and Google were also announced.With the impact of these developments, the Nasdaq Index rose by 1.61%, and the S&P 500 increased by 0.72%. However, the decline in shares of healthcare company United Health negatively affected the Dow Jones Index, which ended the day with a 0.64% loss.Today, markets will focus on the weekly crude oil inventory data. While Asian markets started the day on a positive note, European markets are expected to start the day flat.Most Valuable Companies and Stock PricesMicrosoft (MSFT) → $3.34T market cap, $449.14 per share, ▼ 0.03%Apple (AAPL) → $3.18T market cap, $212.93 per share, ▲ 1.02%NVIDIA (NVDA) → $3.17T market cap, $129.93 per share, ▲ 5.63%Amazon (AMZN) → $2.24T market cap, $211.37 per share, ▲ 1.31%Alphabet (GOOG) → $1.94T market cap, $160.89 per share, ▲ 0.82%Borsa IstanbulIn March, Turkey’s current account deficit came in at $4.1 billion, slightly above market expectations. The 12-month cumulative current account deficit remained steady at $12.6 billion, while excluding gold and energy, the current account surplus showed a limited increase of $0.3 billion compared to the previous month, reaching $51.6 billion. According to seasonally adjusted data, a limited improvement was observed in the general current account balance in March due to recovery in gold and energy balance. However, there was a monthly deterioration in the current account balance excluding gold and energy. This indicates that both upside and downside risks remain for year-end current account balance expectations.On Borsa Istanbul (BIST-100), after Monday’s strong rise, the index lost 0.5% on Tuesday due to profit-taking. Investors are focused on the expected Russia-Ukraine ceasefire talks in Istanbul on Thursday. The dollar-based value of BIST-100 is around the 250 level, about 15% below the March 2025 peak. Signs of recovery in inflation indicators and positive geopolitical developments could lay the groundwork for the index to move back toward its previous peaks. In this context, a flat performance is expected on BIST today.From a technical standpoint, the BIST100 index fell to the 9652 level at the start of the day yesterday, but closed the day at 9700 after buying interest. The 9475–9580 range is considered a key transition zone, and as long as it stays above this band, the upward expectation is thought to continue. If the index exceeds the 9740/9750 level, testing the 9895 resistance may come into play. In downward movements, the 9580–9475 band stands out as the first strong support region. If these levels are broken, the 9230, 9044, and 8870 levels will be followed as support. On the upside, the 9740/9750, 9895, and 9953 levels will be followed as resistance points.Most Valuable Companies on Borsa IstanbulQNB Finansbank (QNBTR) → ₺904.5 billion market cap, ₺279.50 per share, ▲ 3.52%Aselsan Electronic Industry (ASELS) → ₺623.81 billion market cap, ₺138.00 per share, ▲ 0.88%Garanti Bank (GARAN) → ₺460.74 billion market cap, ₺113.90 per share, ▲ 3.83%Turkish Airlines (THYAO) → ₺420.21 billion market cap, ₺300.75 per share, ▼ 1.23%ENKA Construction and Industry (ENKAI) → ₺404.47 billion market cap, ₺69.50 per share, ▲ 0.72%Precious Metals and Exchange RatesGold: ₺4,022Silver: ₺41.25Platinum: ₺1,242Dollar: ₺38.78Euro: ₺43.43Looking forward to meeting again tomorrow with the latest news!
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14 May 2025
Eric Adams“ "The Future of Crypto Will Be Written in New York”
At a press conference, New York City Mayor Eric Adams once again clearly stated his goal of making New York the "crypto capital of the world." This statement comes ahead of the New York City Crypto Summit, which will be held at Gracie Mansion on May 20, drawing renewed attention to the city's ambition to lead in digital assets.Financial Inclusion and Technological LeadershipAdams emphasized that New York has long been the financial capital of the world and expressed his intention to maintain this role in the future through blockchain and crypto technologies. Highlighting the potential of cryptocurrency technologies to provide financial inclusion for those without access to traditional banking systems, Adams also stressed the importance of considering the social impact of these technologies.Crypto Summit: Public and Private Sectors Come TogetherScheduled for May 20, the New York City Crypto Summit will bring together public officials and leading figures from the crypto ecosystem. With key participants such as Figure co-founder June Ou and Traction & Scale CEO Richie Hecker, the summit will serve as a platform for fostering public-private partnerships and innovative ideas.Emphasis on Balanced RegulationAdams pointed out that one of the most important issues facing the crypto industry is “balanced regulation.” Warning that overly harsh regulations could stifle innovation, he stated that policies should strike a balance between investor protection and innovation.Growing Crypto EcosystemRecalling that he received his first three paychecks in Bitcoin and Ethereum when he took office in 2022, Adams described this step as a symbol of the city's crypto vision. Today, New York has become a hub for leading crypto firms such as MoonPay, Coinbase, and Gemini.According to Adams, New York’s leadership in digital finance can only be achieved through a unified vision shared by the public and private sectors. The Crypto Summit will be one of the milestones supporting this vision with concrete steps.New York’s ambition to become the crypto capital is not merely symbolic, but the result of a strategy shaped collectively by the public, regulators, and the industry.
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13 May 2025
Coinbase Joins the S&P 500 Index: A Historic First in the Crypto Sector
Coinbase Global Inc. (NASDAQ: COIN), one of the leading cryptocurrency exchanges in the U.S., will officially join the S&P 500 index starting Monday, May 19, 2025.Coinbase will take the place of Discover Financial Services, which is being acquired by Capital One, thus earning the title of the first crypto-focused company to be included in this prestigious index.A Milestone in Crypto Finance HistoryCoinbase’s entry into the S&P 500 is being interpreted as a striking sign of legitimacy for the digital asset sector. CEO Brian Armstrong announced the development on social media platform X, saying:"Coinbase is now the first and only crypto company to join the S&P 500. These milestones show that crypto is here to stay."The S&P 500 is one of the world’s most widely followed stock indexes, tracking the performance of the 500 largest publicly traded companies in the U.S. To be included in this list, a company must be U.S.-based, have a minimum market capitalization of $15 billion, possess high liquidity, and report positive net income for the last four consecutive quarters. Coinbase has successfully met all of these criteria.Immediate Market ReactionCoinbase shares surged by as much as 11% following the announcement after the close of trading on Monday, May 12. The company reached a market capitalization of approximately $50.8 billion, drawing the attention of index funds and passive investment firms. Since ETFs and index funds that track the S&P 500 must automatically include these stocks in their portfolios, this creates an immediate demand for the shares.This move also reignited interest in the crypto industry among institutional investors. Coinbase’s inclusion in the index is seen as a signal that traditional financial circles no longer view crypto as a passing trend.Why Is This So Important?Increased Investment Demand: Index funds and ETFs will add COIN shares to their portfolios, potentially boosting demand and liquidity.Institutional Legitimacy: Crypto has taken another step toward becoming a mainstream investment vehicle.Signaling Effect: The inclusion of a player like Coinbase could open the door for other companies in the sector.Coinbase's inclusion in the S&P 500 marks a historic milestone not only for the company but for the entire cryptocurrency industry.
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13 May 2025
Daily Market Summary with JrKripto 11 May 2025
You can find today’s “Daily Market with JrKripto,” where we’ve compiled the most important developments in global and local markets, below. Let’s analyze the general market conditions together and take a look at the latest evaluations.Bitcoin (BTC) is currently trading at $104,300. Following a strong uptrend that started from the $75,930 level, BTC continued its rise by breaking through the $101,059 resistance and then the $104,000 level. If this upward move continues, the next potential targets are $108,000 and $109,850. However, in the event of short-term profit-taking, $101,059 should be monitored as the first support level. If BTC falls below this level, the $96,115 and $94,570 support zones could come into play. To maintain the strength of the trend, it is important for BTC to stay above $101,000.Ethereum (ETH), on the other hand, has risen to the $2,550 level. The strong rally that started from the $1,486 support has accelerated after surpassing the $2,453 resistance. If this uptrend continues, $2,595 and subsequently $2,981 could be the next resistance targets. In case of a potential correction, $2,453 has now become the first support level. If this level is breached, the $2,095 and $1,790 support levels may come back into focus. To sustain the positive outlook for ETH, holding above $2,453 is crucial.Crypto NewsTrump announced that he will sign an executive order to lower drug prices.China will reduce tariffs on U.S. goods from 125% to 10% for 90 days!The U.S. has reduced its tariffs on Chinese goods from 145% to 30%.Zelensky: I will wait for Putin in Turkey on Thursday.“I expect a full, permanent ceasefire starting tomorrow.”The White House stated that more trade deals might be announced this week.OpenAI is in talks with Microsoft for new funding and a potential future IPO.Top Gainers:MOODENG → Up 65.5% to $0.26478145PI → Up 56.8% to $1.54TOSHI → Up 36.8% to $0.00085043WIF → Up 36.5% to $1.22GOAT → Up 35.8% to $0.22228838Top Losers:SYRUP → Down 8.7% to $0.27339711DEXE → Down 5.5% to $13.23BORG → Down 5.0% to $0.24050204QGOLD → Down 3.2% to $3,221.53PAXG → Down 3.1% to $3,228.13Fear Index:Bitcoin: 70 (Greed)Ethereum: 60 (Greed)Dominance:Bitcoin: 62.93% ▼ 0.36%Ethereum: 9.22% ▼ 0.49%Daily Net ETF Inflows:BTC ETFs: $321.40 MillionETH ETFs: $17.60 MillionGlobal MarketsThis morning, global stock markets are trading positively amid optimism stemming from progress in U.S.-China trade negotiations and a ceasefire between Pakistan and India. Statements made after weekend talks between the U.S. and China indicate that the trade war, which has caused uncertainty in the markets since the beginning of the year, may be nearing resolution. U.S. President Donald Trump announced on social media that significant progress has been made between the two countries, which would benefit both sides. He also stated that drug prices would be reduced by between 30% and 80%.U.S. stock indices closed flat on the last trading day of the week (Friday), but futures are trading with strong buying interest this morning due to the positive tone of the talks. On the economic data front, the Consumer Price Index (CPI) for April, due on Tuesday, and the Producer Price Index (PPI), scheduled for Thursday, will be in focus. In corporate earnings, Cisco Systems on Wednesday and Walmart and Alibaba on Thursday will be watched closely. Geopolitically, the ceasefire between Pakistan and India has helped reduce regional risks. Asian markets have started the week positively, and European markets are also expected to open with strong gains. Overall, global markets are showing a positive trend this week thanks to growing trade optimism and easing geopolitical risks.Most Valuable Companies and Stock Prices:Microsoft (MSFT) → $3.26T market cap, $438.73 per share, up 0.13%Apple (AAPL) → $2.97T market cap, $198.53 per share, up 0.53%NVIDIA (NVDA) → $2.84T market cap, $116.65 per share, down 0.61%Amazon (AMZN) → $2.05T market cap, $193.06 per share, up 0.51%Alphabet (GOOG) → $1.86T market cap, $154.38 per share, down 0.88%Borsa IstanbulAccording to the Industrial Production Index (IPI) data released for March, seasonally and calendar-adjusted industrial production increased by 3.4% compared to the previous month. However, the unadjusted raw data showed a 2.7% year-on-year decline. The main reason for this decline is that March this year had 1.5 fewer working days compared to last year. Such calendar differences can lead to distortions in annual comparisons. In the calendar-adjusted annual data, industrial production increased by 2.5%, indicating notable monthly gains in some sectors, though this increase was not widespread across all sectors.Domestically, key data such as retail sales volume, turnover indices, and construction cost index will be announced today. Additionally, tomorrow, the Treasury will hold bond auctions indexed to TLREF (Turkish Lira Overnight Reference Rate) and CPI (Consumer Price Index), both with 4-year maturities. The current account balance, budget balance, and CBRT Market Participants Survey, which will be released this week, will also be closely monitored for insights into the economic outlook.The BIST-100 index ended last week with a 2.4% gain. As the new week begins, a positive outlook is forming, supported by diplomatic developments. In particular, the announcement of a meeting to be held in Istanbul on Thursday for Russia-Ukraine peace talks could positively impact Turkey's risk premium if the process proceeds well. On the economic front, Treasury and Finance Minister Mehmet Şimşek is expected to meet with domestic investors at an investment conference organized by Ak Yatırım following his contacts with international investors.From a technical perspective, the BIST-100 index received support at the 9232 level during Friday’s intraday pullback and closed at 9391. Technically, the 9044 level remains a strong support zone. If the recovery from this level continues, the next target could be the 9475–9580 resistance band. If this band is breached, the short-term positive outlook could strengthen further, possibly pushing the index toward the 9740–9895 range. On the downside, the 9044–8870 zone is a critical support area. A drop below this range could trigger a more pronounced decline toward 8725–8618 levels.In general, Borsa Istanbul is expected to start the week with a bullish tone in parallel with the positive global market sentiment. However, the course of economic data and diplomatic developments should be monitored closely.Most Valuable Companies on Borsa Istanbul:QNB Finansbank (QNBTR) → ₺883.56 Billion market cap, ₺269.25 per share, up 2.09%Aselsan Elektronik Sanayi (ASELS) → ₺680.35 Billion market cap, ₺141.2 per share, down 5.36%Türkiye Garanti Bankası (GARAN) → ₺425.04 Billion market cap, ₺104.4 per share, up 3.16%Turkish Airlines (THYAO) → ₺405.72 Billion market cap, ₺304.00 per share, up 3.40%ENKA İnşaat ve Sanayi (ENKAI) → ₺398.9 Billion market cap, ₺74.20 per share, up 9.04%Precious Metals and Exchange Rates:Gold: ₺4080Silver: ₺39.91Platinum: ₺1225USD: ₺38.74EUR: ₺43.55See you again tomorrow with the latest news!
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12 May 2025
Meta's New Crypto Plan: Tether and USDC Can Be Integrated into Payments
Meta is preparing to return to the crypto world after a three-year break. It is now reported that the company is in talks with various crypto infrastructure firms to launch stablecoin-supported payments on its platforms. This development is a significant signal for both the crypto market and global payment systems.Meta’s Strategic ComebackAccording to a report by Fortune, Meta is working on a model where popular stablecoins like Tether’s USDT and Circle’s USDC can be integrated as multiple tokens. This step specifically aims to make micro-payments to content creators through platforms like Instagram and WhatsApp faster, cheaper, and more efficient.The new payment initiative is being led by Ginger Baker, who has experience in the fintech and blockchain world. Meta currently describes the process as being in “learning mode,” but the scale of the steps being taken shows that this transformation is not superficial but rather a long-term strategic move.Stablecoin Race: Tech Giants on the FieldMeta is not alone in this field. Recently, many major finance and tech companies have entered the stablecoin space:On May 7, Visa invested in the stablecoin venture BVNK.Stripe launched stablecoin-based accounts in over 100 countries.World Liberty Financial (WLFI) launched the USD1 stablecoin pegged to the U.S. dollar in March. In just two months, it became the seventh-largest stablecoin by market value.U.S. Treasury Secretary Scott Bessent summarizes this trend clearly:“Stablecoins are a great opportunity to increase the dollar’s dominance in the digital world.”However, this growth is being affected by a lack of regulation. On May 8, Democratic senators blocked the Genius Stablecoin Act, delaying the regulation process.Why Is This So Important?The fact that a tech giant like Meta is working on stablecoin integration significantly strengthens the potential for daily use of cryptocurrencies. This is not just a change in payment methods; it also provides four critical contributions that could increase the use of stablecoins in everyday life:Low transaction costs: Bank fees are eliminated.Instant and cross-border transfers: Global content creators can receive payments instantly.Growth of in-platform economy: Revenue models in apps like Instagram and WhatsApp will be reshaped.Digital financial inclusion: Offers opportunities for users without traditional bank accounts.Digital Payments Cross a New ThresholdThe step Meta is about to take could be transformative not only for its own platforms but for the entire crypto ecosystem. Stablecoins are no longer just an “experiment”; they are preparing to become a mainstream tool in global payment systems.As regulations become clearer and tech companies take more steps in this area, the idea of “paying with crypto” will no longer be the future—it will be today’s reality.
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11 May 2025
What Does the Genius Stablecoin Law Mean?
A newly introduced bill in the United States has opened the door to a major transformation in the crypto world. Called the “Genius Stablecoin Act” (GENIUS Act), this bill particularly concerns stablecoin issuers like Tether (USDT). The law foresees that Tether, regardless of where it is headquartered, will now be subject to U.S. laws. This is a critical development not just for Tether but for the entire global stablecoin sector.Tether to Be Subject to U.S. RegulationsThe most notable clause in the new bill is the principle of “extraterritoriality,” which includes foreign companies within the jurisdiction of the United States. In other words, every stablecoin issuer that serves users in the U.S.—even if their headquarters are abroad—will now be required to comply with American regulations. Tether, which is based in El Salvador, will be directly affected by this regulation.Tether CEO Paolo Ardoino stated that they view this initiative positively and aim to maintain a constructive collaboration with U.S. regulators. However, the company will now have to comply with stricter reporting and transparency rules.What Does the GENIUS Act Bring?According to the bill, stablecoin-issuing companies will face the following regulations:1:1 Reserve Requirement: Every stablecoin must be fully backed by assets such as U.S. dollars or short-term Treasury bills.Licensing and Supervision: Projects over $10 billion will be federally licensed, while smaller ones will be licensed at the state level.AML/KYC Compliance: All issuers will be subject to anti-money laundering and know-your-customer rules.Regular Reporting: Monthly reserve reports and annual independent audits will be required.Although it is not yet certain whether the GENIUS Act will become law, the framework it proposes signals the beginning of a period where stricter rules will dominate the stablecoin market. As the U.S. continues its efforts to expand influence in this area, a new adaptation process may begin for giants like Tether. During this process, both investors and industry players will have to be more prepared for regulatory uncertainties.
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11 May 2025
U.S. Vice President J.D. Vance Will Speak at the Bitcoin 2025 Conference
U.S. Vice President J.D. Vance will take the stage at the Bitcoin 2025 Conference, which will be held in Las Vegas from May 27 to 29, 2025. This speech will be the first public address in which a U.S. vice president openly supports Bitcoin. This event, which holds significant symbolic importance for the crypto world, shows the growing influence of Bitcoin in politics.Historic Conference, Historic SpeechBitcoin 2025 is a massive event expected to attract more than 30,000 participants from around the world. Vance, who will be part of the conference's “Code + Country” sessions, will deliver his keynote speech on the morning of May 28 at 9:00 AM.This speech is considered a continuation of the Trump administration’s clear stance on crypto. Coming exactly one year after President Donald Trump’s speech at the 2024 Bitcoin conference, this move demonstrates the ongoing public support for Bitcoin from the White House.Vance's Approach to BitcoinDuring his tenure in the Senate, Vance displayed an open attitude toward crypto assets and drew attention with his views on financial sovereignty. He frequently cited incidents such as the freezing of bank accounts in Canada in 2022 as examples of the control risks posed by centralized systems. He also publicly criticized the SEC’s strict enforcement actions against crypto companies.According to federal financial disclosures, J.D. Vance’s personal Bitcoin holdings are reported to be between $250,000 and $500,000. This positions him not only as a political supporter but also as an active investor who believes in crypto assets.Broad Participation, Strong MessagesThe Bitcoin 2025 conference is not limited to Vance’s speech. The event will also feature appearances by Eric Trump, Donald Trump Jr., White House Artificial Intelligence and Crypto Advisor David Sacks, Strategy Board Chairman Michael Saylor, and Silk Road founder Ross Ulbricht.This broad participation reveals how the crypto world has become a growing force not only in technology but also in the fields of economy and politics.
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11 May 2025
Bitcoin's New Strategic Player: David Bailey's "Nakamoto" Initiative
As institutional moves within the Bitcoin ecosystem continue to increase day by day, a notable step has also come from U.S. President Donald Trump’s crypto advisor and BTC Inc. CEO David Bailey. Bailey has raised $300 million to establish a publicly traded Bitcoin investment company named “Nakamoto.” The company’s strategy is based on a model that places Bitcoin at the center of its balance sheet.Nakamoto: A New Generation Investment Firm Adopting Bitcoin as a Core AssetNakamoto takes its name from Bitcoin’s mysterious creator Satoshi Nakamoto and aims to build a Bitcoin-based capital structure by adopting the strategy model led by Michael Saylor. This structure, financed with $200 million in equity and $100 million in convertible debt, will allow the company to benefit from the appreciation of digital assets while diversifying traditional investment portfolios.First Targets: Brazil, Thailand, and South AfricaNakamoto aims for cross-border expansion. In the first phase, the company plans to invest in companies in Brazil, Thailand, and South Africa to expand its global presence. The goal is to accelerate Bitcoin adoption in these countries and secure a strategic position in their local economies.Public Offering in the SummerNakamoto announced it will go public through a reverse merger with an existing company listed on Nasdaq. This process is expected to be completed in the summer. The company also plans to establish an advisory board composed of well-known experts in finance and crypto.Institutional Bitcoin Adoption Is IncreasingThe Nakamoto move comes at a time when interest in Bitcoin at the institutional level continues to grow. David Bailey’s initiative, similar to Jack Mallers’ Twenty One Capital and Vivek Ramaswamy’s Strive Asset Management, highlights a Bitcoin-focused strategy at the institutional level.“Nakamoto” is not just a new Bitcoin company; it represents a new vision for institutional adoption of digital assets. This step, led by David Bailey, could signal the beginning of a new era in which investment models centered around Bitcoin become increasingly common.
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8 May 2025
Balanced Message from Powell: Is the Fed Preparing the Ground for June?
On the evening of May 7, 2025, the U.S. Federal Reserve (Fed) kept its policy rate steady at the 4.25–4.50% range. However, what markets were really curious about were the statements made by Fed Chair Jerome Powell following the meeting. Powell, in a cautious yet optimistic tone, signaled the beginning of a new era in monetary policy.Emphasis on "Data-Driven Flexibility" Instead of "Wait and See"Powell stated that the U.S. economy remains strong but noted that upward risks persist on both the inflation and unemployment fronts. He emphasized that despite the slowdown in inflation, concerns about its persistence continue. Nevertheless, he delivered a message of flexibility in monetary policy: he said the Fed will continue to evaluate its decisions in light of current data. This statement keeps the possibility of a rate cut at the June meeting alive.Laying the Groundwork for JuneA recent statement by Cleveland Fed President Beth Hammack, saying "May is too early, but June is seriously on the table," aligns with Powell's message. Market pricing has also taken shape in this direction. Interest rate futures indicate that a 25 basis point cut in June has gained significant probability.Dynamics Between the Trump Administration and the FedPowell, in response to President Trump's explicit calls for a rate cut, emphasized the Fed’s independence. By saying “We base our decisions on data and analysis,” he maintained a balanced stance against political pressure. Still, it appears that the Trump administration expects a rate cut to support growth as inflation declines. This political pressure is one of the factors increasing market expectations for June.Markets and Risk Assets Gain StrengthThere was no sharp correction in markets following the Fed’s decision to hold rates steady. On the contrary, with uncertainty diminishing and expectations of easing in the summer, risk appetite has increased. Gold tested the $3,300 level. A recovery trend was observed in Bitcoin and tech stocks. Especially the retreat in bond yields shows that investors are repositioning.Powell Cautious, Market HopefulPowell’s remarks suggest that the Fed may be creating room to maneuver for a rate cut in the summer. Even if May was a pause, a clear “preparation period” atmosphere has formed for the June meeting. If the downward trend in inflation continues and more signs of slowing growth emerge, summer 2025 could begin with a rate cut.Balances in the economy remain delicate, but the Fed’s clear messaging is being seen as a positive step for markets.
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8 May 2025
May Interest Rate Decision Is Being Announced: Eyes Are on Powell's Statement
U.S. Federal Reserve Expected to Hold Rates Steady on May 7, 2025, as Attention Turns to JuneThe U.S. Federal Reserve (Fed) is widely expected to keep its policy rate unchanged at its May 7 meeting. However, all eyes are now on June. Recent economic data, market pricing, and political pressures are increasing the likelihood of a rate cut as summer approaches.Hammack Sends a Clear SignalThe Fed has held interest rates steady in the 4.25%–4.50% range for the past two meetings. While inflation data suggests a mild cooling, signs of weakening economic growth are also emerging. Cleveland Fed President Beth Hammack said May is too early for a rate cut, but referred to June as a potential turning point.Powell to Speak: His Messages Will Be CrucialFed Chair Jerome Powell’s statements today will play a key role in shaping market sentiment. With his usual “data-dependent” language, Powell is expected to signal that a rate cut window could open in June. However, he may also adopt a selective tone without fully committing.Trump Sends a Clear Message to the Fed: “Cut Rates”U.S. President Donald Trump has made interest rate cuts a central focus of his economic policy. A statement from the White House emphasized, “Prices are falling, energy is getting cheaper, the Fed should cut rates now.” Having won the 2024 election, Trump aims to establish a growth model driven by employment and investment.What Are Markets Expecting?Markets had already priced in a pause at the May meeting. However, interest rate futures for June now reflect a strong probability of a 25 basis point cut. Assets like gold, Bitcoin, and the Nasdaq have already responded positively to this expectation.June Could Be a Turning PointThe June 17–18 meeting is shaping up to be a pivotal moment for 2025. With inflation momentum slowing and the labor market softening, the first signals of a rate cut could be delivered.If the Fed announces today that it is holding rates steady, it will come as no surprise. The real focus will be on Powell’s nuanced remarks. Any potential rate cut in June will be a key indicator of the direction of the U.S. economy and global market risk sentiment.
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7 May 2025