Major cryptocurrencies moved higher after President Trump signaled a retreat from proposed EU tariff measures, while liquidations across crypto markets topped $1 billion. The rebound came alongside fresh regulatory, corporate, and protocol developments, including BitGo’s planned IPO, Senate movement on the Clarity Act, and new stablecoin licensing rules in Hong Kong.
Major cryptocurrencies moved higher after President Trump signaled a retreat from proposed EU tariff measures, while liquidations across crypto markets topped $1 billion. The rebound came alongside fresh regulatory, corporate, and protocol developments, including BitGo’s planned IPO, Senate movement on the Clarity Act, and new stablecoin licensing rules in Hong Kong.
Crypto markets turned broadly green after President Trump pivoted on proposed EU tariffs, with Bitcoin rising 2% to $89,900. Ethereum gained 2% to $2,995, Solana added 2% to $130, and XRP climbed 3% to $1.94, while CC, SKY, and SAND led top movers with gains of 15%, 11%, and 10%, respectively.
Crypto markets turned broadly green after President Trump pivoted on proposed EU tariffs, with Bitcoin rising 2% to $89,900. Ethereum gained 2% to $2,995, Solana added 2% to $130, and XRP climbed 3% to $1.94, while CC, SKY, and SAND led top movers with gains of 15%, 11%, and 10%, respectively.
The rebound followed a sharp move in Bitcoin and came after crypto markets saw more than $1 billion in liquidations. For readers, the move underscores how macro policy signals can quickly affect digital asset prices, particularly when leverage is high and traders are positioned for volatility.
Several policy and regulatory developments also shaped the market backdrop. The Senate Agriculture Committee confirmed that its version of the Clarity Act will move forward to markup next week despite a lack of bipartisan support, while President Trump said he hopes to sign a crypto market structure bill soon, even as disagreements remain over regulatory scope. In Hong Kong, regulators moved toward issuing stablecoin licenses under a framework with strict compliance, reserve, and operational requirements.
On the company side, BitGo announced an IPO at $18 per share, valuing the crypto custody firm at about $2 billion. Mortgage lender Newrez also explored counting Bitcoin and Ethereum toward mortgage qualification, using discounted valuations to reflect crypto volatility.
The broader crypto ecosystem saw additional developments across infrastructure, legal treatment, and adoption. Vitalik Buterin proposed native distributed validator technology staking to strengthen Ethereum security and decentralization, Russian courts ruled that cryptocurrencies qualify as property under law, Saga’s EVM blockchain halted after a $7 million hack with stolen funds bridged to Ethereum, and Steak ’n Shake introduced a Bitcoin bonus program for hourly employees.
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