Ripple deepens partnership with Mercy Corps Ventures to promote RLUSD adoption

Chip distribution data shows that in the past six months, 50% of BTC's traded chips have been concentrated in the range of $65138.49- $76578.12, with the most concentrated price (POC) at $67045.10. The current BTC price is running in the middle of this range and above the POC price, which means that the POC price has shifted from the cost line to the psychological support line. As long as the price does not fall below POC, the short-term bullish pattern will be maintained. If the volume falls below POC, the bullish advantage will be invalidated. PRO "Chip Distribution" supports switching to more cycles to view the evolution trend of POC, helping to determine whether the support is firm. The data is for reference only.

According to Infobae, the Attorney General's Office of Buenos Aires Province in Argentina coordinated multiple judicial departments and police to launch a joint operation called Fake Coins against cryptocurrency fraud cases. The police conducted 90 simultaneous searches nationwide, arrested 24 suspects, seized a total of 8 million USDT (worth over 8 million US dollars), 6 million pesos in cash, and a large number of electronic devices. The investigation shows that criminal gangs induced investments through social media and fake apps, resulting in losses of up to 3 billion pesos. Among them, the San Siro judicial department seized most of the encrypted assets in an investigation against a Chinese criminal gang that stole information and laundered money through malicious software. Some of the funds were converted into USDT through Binance P2P.

Santiment analysis indicates that the ratio of positive to negative comments on Ethereum has shifted from FOMO in late April to the current FUD. Harvard University clears its position after buying $87 million Ethereum ETF; Ethereum Foundation researcher resigns; David Hoffman announced his withdrawal from the Ethereum project. Despite the sluggish market sentiment, the number of Ethereum non empty wallets has reached 192.92 million, more than three times the approximately 59 million of Bitcoin.

[Multiple Crypto Treasury Companies Shift to Digital Credit Financing Model] According to the Financial Times, due to the weakening prices of cryptocurrencies like Bitcoin, several crypto treasury companies, whose core business revolves around holding crypto assets, have shifted to a 'Digital Credit' financing model following declines in their stock prices. Strategy has promoted this model by offering investors high-yield perpetual preferred shares, using the raised funds to purchase Bitcoin. Since its launch approximately 10 months ago, it has attracted around $10.5 billion in capital inflows. Companies such as Strive Asset Management, The Smarter Web Company, and Capital B plan to follow suit. However, as the dividends on preferred shares rely on continuous financing support, some analysts have expressed concerns about its sustainability. Meanwhile, the popularity of the crypto reserve concept has waned, with the stock prices of several companies experiencing significant declines. Some enterprises have sold off crypto assets and returned to their core businesses.

According to Viet Nam News, the Vietnamese Ministry of Finance has proposed revising the Small and Medium sized Enterprise Support Law to allow small and medium-sized enterprises to use digital assets, virtual assets, intellectual property, and other assets as collateral for bank loans, in order to broaden their financing channels. The draft is publicly soliciting opinions and intends to expand the scope of acceptable collateral assets, including future assets, property rights, and other legal assets. According to reports, small and medium-sized enterprises and individual businesses account for over 98% of the total number of Vietnamese enterprises, but their loan balances only account for 20% of the country's bank credit.