Republican lawmakers propose bill to prohibit members of Congress and their families from betting on predictive markets

BitMine Chairman Tom Lee stated in an interview with CNBC that investors have overreacted to the Federal Reserve meeting. Federal Reserve Chairman Kevin Walsh plans to monitor data in a modern way, and the overall stance of this meeting is quite dovish. Fundstrat believes that market conditions will change later this year, but the current stock market environment remains favorable. Tom Lee mentioned the success of SpaceX's IPO and pointed out that the Federal Reserve's policy framework restructuring, SpaceX stock unlocking, potential liquidity diversion from Anthropic and OpenAI IPOs, disturbance in the Strait of Hormuz, and depletion of speculative funds are the challenges facing the future.

According to Reuters, Italian crypto fintech company Conio, supported by Poster Italiane and Banca Generali, has obtained a Crypto Asset Service Provider (CASP) license under the EU MiCAR framework in Italy. The authorization was granted by Consob and the central bank of Italy after review, allowing Conio to provide services such as digital asset custody, transfer, and allocation. The MiCAR transition period will end on June 30, 2026, after which unlicensed companies will be unable to provide encryption services in Italy and the European Union.

Bitwise analysis suggests that Bitcoin's valuation is at a historical low and discounted compared to AI stocks, but it is under pressure in the short term due to the hawkish policies of the Federal Reserve and market liquidity competition. CryptoQuant data shows that the inflow of new funds into the Bitcoin network has slowed down, and the average of market value growth indicators has decreased. SpaceX, Anthropic, and OpenAI have a potential financing demand of $200 billion, intensifying liquidity competition. The Federal Reserve maintains the 3.5% to 3.75% interest rate unchanged, and some officials expect a rate hike within the year. The price of Bitcoin has fallen below $64000, and Jelle stated that $64000 is a key level. If this level is held, the price may rebound to $70000 in the coming weeks. AI interpretation: The Federal Reserve's decision to keep interest rates unchanged and signal a rate hike has directly tightened the liquidity environment in global financial markets. The high interest rate policy continues to push up the cost of capital, forcing risky assets to face pressure for valuation reshaping. This hawkish stance weakens the safe haven nature of cryptocurrencies, leading to an accelerated flow of market funds towards the high return AI technology sector. The current monetary policy environment has completely suppressed expectations of short-term liquidity easing, and the pressure on Bitcoin prices is a direct feedback from the market on tightening policies.

[Hester Peirce: Self-Custody and Financial Privacy Should Be the Foundation of Digital Asset Regulation] SEC Commissioner Hester Peirce stated that clearer regulatory frameworks should be adopted for new financial products such as tokenized securities, perpetual contracts, and prediction markets. She emphasized that self-custody and financial privacy should be fundamental rights in future regulatory systems.

The THORChain network has entered the final stage of recovery and is currently verifying the integrity of node keyshares through the KeyVerify protocol. Once verified, the Churn operation will be performed to transfer funds to the new vault. THORChain stated that the Churn time will take several hours to several days, and upon completion, Secured and Trade assets, LP operations will be reactivated and trading will be resumed.