The global cryptocurrency market cap now stands at $2.69T, down by 1.17% over the last day, according to CoinMarketCap data.
Bitcoin (BTC) has been trading between $80,725 and $82,850 over the past 24 hours. As of 09:30 AM (UTC) today, BTC is trading at $81,029, down by 0.89%.
Most major cryptocurrencies by market cap are trading mixed. Market outperformers include DOGS, D, and NIL, up by 67%, 51%, and 28%, respectively.
Policy Momentum Builds as the White House Pushes Clarity, 21Shares Expands, and Germany Eyes Tougher Crypto Taxes
The White House is targeting July 4 for passage of the Clarity Act, marking one of the clearest signs yet that U.S. digital asset policy is moving toward a defined legislative timetable. In Europe, Germany is considering ending its one-year crypto capital gains tax exemption, a shift that would tighten the treatment of long-term holders and bring digital assets closer to traditional financial rules.
At the same time, crypto investment access is continuing to broaden. 21Shares has listed its Strategy Yield ETN on the London Stock Exchange, giving UK investors a new yield-linked route into Strategy's bitcoin exposure and reinforcing the push to package crypto-linked products within regulated market infrastructure.
TrustedVolumes Suffers $6.7 Million Attack, Confirms Breach on X
Key Takeaways:
Smart contract access control flaw
$6.7M spread across three addresses
Bug bounty negotiation signaled
Summary:
TrustedVolumes, a market maker operating on the 1inch protocol, suffered a $6.7 million exploit after an attacker abused a publicly accessible function to register as an AllowedOrderSigner and drain pre-authorized funds. CertiK Alert identified the vulnerability and advised affected users to revoke contract authorizations immediately. The stolen funds were distributed across three wallets — two holding approximately $3 million each and a third containing roughly $700,000. TrustedVolumes has since confirmed the breach on X and indicated openness to discussing a bug bounty arrangement and negotiated resolution with the attacker.
Aave Completes Liquidation of Kelp DAO Attacker's rsETH Position
Key Takeaways:
Attacker's rsETH position liquidated
Collateral routed to Recovery Guardian multisig
Oracle temporarily manipulated via governance vote
Summary:
Aave has completed the liquidation of the remaining rsETH collateral held by the Kelp DAO attacker, marking a near-final step in the community's response to a $292 million exploit. The recovered collateral will be transferred to a multi-signature address controlled by DeFi United's "Recovery Guardian" initiative, which is working to restore rsETH's asset backing and compensate affected users. To execute the liquidation, Aave's governance voted to temporarily adjust the rsETH oracle price, allowing the protocol to incur losses on the attacker's fraudulent position — a measure Aave says will be fully reversed upon completion. The action reflects a coordinated, governance-driven approach to on-chain loss recovery that may set a precedent for future DeFi exploit responses.
21Shares Lists Strategy Yield ETN on London Stock Exchange
Key Takeaways:
11.50% monthly cash yield product
Tracks Strategy's 818,334 BTC reserve
BTC sale risk flags from Saylor
Summary:
21Shares has listed its Strategy Yield ETN (STRC) on the London Stock Exchange, giving UK investors their first exchange-traded exposure to Strategy Inc.'s Variable Rate Series A Perpetual Preferred Stock, which offers an 11.50% annual yield paid monthly in cash. The product tracks Strategy's bitcoin reserve policy, with the firm currently holding 818,334 BTC — representing 3.88% of total supply. 21Shares, which holds over 40% of the UK crypto ETN market share with £7.3 million in average daily volumes, continues to expand its institutional product suite. The listing carries a notable caveat: Chairman Michael Saylor indicated in Q1 that Strategy may sell BTC to meet STRC dividend obligations, introducing potential supply-side risk for bitcoin markets.
VanEck's Matthew Sigel Predicts Bitcoin Could Hit $1 Million in Five Years
Key Takeaways:
~12x price appreciation from $81,221 projected
Demographic-driven adoption cited as key driver
Central bank BTC reserve purchase signals macro trend
Summary:
VanEck Head of Digital Assets Research Matthew Sigel told CNBC that Bitcoin could reach $1 million within five years, representing roughly a 12-fold increase from its current price of approximately $81,221. Sigel attributed the bullish outlook to generational demographic trends, noting that younger investors are increasingly allocating to Bitcoin — drawing a parallel to how video games evolved from a niche youth hobby into a mainstream cross-generational activity. The forecast aligns with similar $1 million calls recently made by Bitwise CIO Matt Hougan and Eric Trump, suggesting growing convergence among institutional and high-profile voices. Sigel also flagged the first central bank Bitcoin reserve purchase as a structural macro milestone, while acknowledging that significant volatility remains part of the trajectory.
White House Targets July 4 for Clarity Act Passage
Key Takeaways:
July 4 Congressional passage targeted
Stablecoin yield compromise reached
Conflict-of-interest clause near resolution
Summary:
The White House is pushing for Congressional passage of the Digital Asset Market Clarity Act by July 4, with Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, framing the deadline as "a tremendous birthday present for America." The proposed legislative timeline calls for a Senate Banking Committee markup in May, four weeks of Senate floor debate in June, and a final House vote before Independence Day. A key sticking point — the stablecoin yield provision — has been resolved, with a compromise that bans bank-deposit-equivalent yield while allowing spending-based rewards. Negotiations on a conflict-of-interest clause are also nearing conclusion, contingent on language that avoids singling out any individual official.
Germany Considers New Tax Rules for Bitcoin and Crypto Assets
Key Takeaways:
One-year holding tax exemption under review
Crypto tax treatment to mirror stock assets
Constitutional equal protection concerns raised
Summary:
German Finance Minister Lars Klingbeil has announced plans to overhaul the country's crypto tax framework, with the proposed changes potentially eliminating the existing policy that exempts Bitcoin and other crypto assets from capital gains tax after a one-year holding period. The reform would bring cryptocurrency taxation in line with how stock assets are treated, marking a significant shift for long-term holders in one of Europe's largest crypto markets. The proposal has drawn criticism from legal scholars who argue that singling out Bitcoin for stricter tax treatment could violate equal protection principles under Germany's constitution. The move mirrors a similar policy change already enacted in Austria, suggesting a broader European trend toward tightening crypto tax regimes.
Market movers:
ETH: $2,329.65 (-3.26%)
BNB: $648.93 (+0.43%)
XRP: $1.4133 (-2.39%)
SOL: $89.48 (+0.29%)
TRX: $0.3467 (+0.90%)
DOGE: $0.11165 (-4.06%)
WBTC: $80,767.81 (-1.265%)
U: $0.9999 (-0.01%)
XAUT: $4,720.50 (+0.74%)
ADA: $0.2671 (-1.77%)