Trump’s Tariffs Will Be Permanent
The 90-day pause on global import tariffs imposed by US President Donald Trump, which range from 11% to more than 100%, ends at the beginning of July. Commerce Secretary Howard Lutnick announced that Trump does not plan to extend the pause and that the tariffs will be permanent. Sixty countries, including China, the EU and South Africa, are on the list of “worst violators” and could face higher tariffs.
The Trump administration has stated that there is no progress in trade negotiations with China and claimed that China is deliberately holding up products in the global supply chain. Meanwhile, tariffs on steel and aluminum imports have been increased from 25% to 50%. Trump’s trade policies are straining relations with allies and deepening the trade war with China.
SEC Skeptical of Ethereum, Solana Staking ETFs
The staking-focused Ethereum and Solana ETFs proposed by REX Shares and Osprey Funds have received warnings from the SEC about their legal compliance. The SEC said there were serious questions about whether the funds met the definition of an “investment company,” and that the concerns had not been resolved despite the products’ registration statements being effective.
The SEC said the funds’ structure, which involves providing returns through staking, relied on legal loopholes and raised concerns about investor protection. REX, which said it would address these concerns before launching the funds, faces two separate regulatory hurdles for Solana in terms of both spot ETF approval and staking model, while Ethereum spot ETFs are still being traded.
SharpLink Gaming Plans $1 Billion Ethereum Purchase
US-based sports betting platform SharpLink Gaming has filed with the SEC for a $1 billion stock sale in order to support its newly established Ethereum treasury strategy. The company plans to use the majority of the proceeds to purchase ETH, while aiming to allocate the rest for working capital and marketing activities. This move was announced after Ethereum co-founder Joseph Lubin was appointed as chairman of the board, and the company’s stock price increased by 400% in one day.
SharpLink, described by the community as the “Michael Saylor of Ethereum,” also outlined the potential risks associated with purchasing Ether in its SEC filing. These risks include the possibility that central bank digital currencies (CBDCs) could reduce demand for ETH and the risk of Ether being classified as a “security.” The development comes amid growing expectations that Ethereum and Solana staking ETFs could soon be approved in the U.S.
Metaplanet’s Bitcoin holdings reach 8,888 BTC
Japan-based Metaplanet has purchased an additional 1,088 BTC, bringing its total Bitcoin holdings to 8,888 BTC (about $930 million). The company’s year-end target is to reach 10,000 BTC. The latest purchase was made for 16.885 billion yen ($117.5 million), with an average payment of 15.5 million yen ($108,051) per Bitcoin.
Metaplanet, which began adding Bitcoin to its corporate treasury in 2024, has become Asia’s largest and one of the world’s top 10 publicly traded BTC holders. CEO Simon Gerovich said they drew inspiration from MicroStrategy founder Michael Saylor in their strategy. The company’s Tokyo stocks have gained 2,000% in the past year.
Meta Shareholders Overwhelmingly Reject Bitcoin Treasury Offer
Meta Platforms shareholders have almost unanimously rejected a proposal that would have the company convert some of its $72 billion cash reserves into Bitcoin. In the general meeting held on May 30, 4.98 billion shares voted “no” and only 3.92 million shares voted “yes” — meaning less than 0.1% support.
The proposal was presented by Ethan Peck, who claimed that Bitcoin could provide protection against inflation. However, shareholders, especially in large-scale companies, were reluctant to deviate from traditional cash management approaches. Similar efforts at Microsoft and Amazon have also failed before.
While Meta’s coffers remain the same, the vote suggests that institutional Bitcoin advocates will continue to pressure major companies to change their digital asset policies.
Sui Community Approves $162 Million Refund Plan for Cetus Attack Victims
Validators on the Sui network approved a proposal by 90.9% to freeze $162 million of the $220 million stolen from decentralized exchange Cetus on May 22, compensating users. Those assets will be moved to a multi-signature wallet and returned to users according to a plan Cetus determines.
Following the vote, Cetus announced that it aims to make a full recovery and restart the protocol within a week. A compensation agreement is also being developed to compensate for the losses and will undergo an audit process. The move has also sparked debate in the crypto community over the ability of validators to freeze on-chain funds.
UK PM Candidate Says He Will Introduce Bitcoin Reserves and Lower Taxes
Speaking at the Bitcoin 2025 conference in Las Vegas, Reform Party leader Nigel Farage promised major reforms to crypto if elected prime minister. Farage promised to reduce crypto profit taxes from 24% to 10%, force the Bank of England to establish a Bitcoin reserve, and ban “debanking” practices for crypto users.
Describing the difficulties he faced in opening an account with his own banks, Farage described Bitcoin as “the ultimate freedom.” The Reform Party is also now accepting donations in BTC, ETH, SOL, and USDC. Farage has portrayed his party’s crypto-friendly stance as a freedom-based move.
Brazil’s Méliuz Launches Share Sale to Buy Bitcoin
Brazil-based fintech firm Méliuz has launched a share sale worth 450 million reais (about $78.6 million) to fund Bitcoin purchases. The company, which currently holds 320.25 BTC (about $33.5 million) worth of Bitcoin, describes itself as Brazil’s first “Bitcoin treasury company.”
Méliuz, which follows a model similar to MicroStrategy, aims to increase the amount of Bitcoin per share with this strategy. However, the move caused the stock price to drop more than 8%. Although the company’s shares are up 217% since the beginning of the year, investors are pricing in potential dilution. The new shares are set to be priced on June 12, with trading scheduled to begin on June 16.
IMF Questions Pakistan’s Electricity Allocation for Bitcoin Mining
The IMF has challenged the Pakistani government’s decision to allocate 2,000 megawatts of electricity for Bitcoin mining and AI data centers. The move could complicate ongoing financial support talks with the IMF as the country grapples with an energy crisis and economic hardship. The fund has specifically asked for clarification on the legal framework for crypto mining and the impact of such large-scale electricity allocation on the public.
Pakistan’s move is part of its drive to integrate digital assets into the economy. Along with the newly established Pakistan Digital Asset Authority, the government plans to create a national Bitcoin wallet and strategic Bitcoin reserve. However, the IMF has serious concerns about the plan’s pressure on energy supply and its economic sustainability.
Elon Musk brings Bitcoin-style encryption to XChat
Elon Musk has announced XChat, a new messaging system for the X platform. The system, developed in the Rust language, uses Bitcoin-like end-to-end encryption. XChat offers privacy-focused features such as disappearing messages, sending of all file types, and voice/video calling without requiring a phone number.
X has announced that it has stopped development on its previous encrypted DM system and that XChat will completely replace it. The system, which will initially be available to a limited number of users, will soon be widely used. Musk also stated that the digital wallet service X Money, developed in collaboration with Visa, will be available soon.
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BITCOIN(BTC)
BTCUSDT gave a signal of weakness by breaking the rising trend line in the decline that started at 111.861. The price is currently at 104.731 and close to the 105.778 resistance. If it is maintained above this level, the 107.319 resistance may come to the agenda again. However, falling below the 101.315 support may cause a correction movement up to the 94.915 level. The short-term direction search will take shape between these two levels.
ETHEREUM(ETH)
The pullback that started from the 2,850 USDT level on the ETHUSDT chart has carried the price to the horizontal support band at the 2,490 level. This area is also the lower band of the wide resistance/balance area shown in blue. The price is trying to hold on here, but buyers seem to be weak. If the 2,490 level is broken, the 2,097.70 level should be followed as an important demand area. For a positive view above, the 2.700 level must be exceeded.
RIPPLE(XRP)
XRPUSDT has retreated to the support area between 2.1139 – 2.17 after the decline that started at 2.48. This area previously worked as a demand area where strong purchases came after the breakout. Currently, the price is trying to hold above 2.17 with the reaction from this area. If the 2.2330 level is exceeded, the 2.36 resistance can be tested again. However, if it drops below 2.1139, the decline may deepen.
AVALANCHE(AVAX)
AVAXUSDT declined to the 20.25 support with the selling pressure from the 21.48 level. It currently continues its horizontal movement from the 20.58 level. While the 20.25 level works as a short-term support, 21.48 above is an important resistance. The price is stuck in this range and a breakout should be waited for direction determination. Persistence below 20.25 may cause declines to 19.50 and below. In the upward break, the 22.70 level can be targeted first.
SOLANA(SOL)
SOLUSDT parity is trying to form a base in the 155.35 area after the downtrend it started at the level of 184.94. The level of 166.26 was the previous support and is now watched as resistance. The fact that the price is rejected here indicates that the downward momentum is still continuing. If this level breaks upwards again, the level of 176.27 can be targeted. Below, the 148 – 144 USDT range stands out as the liquidity area and this band is a strong demand area. In the short term, unless this region is lost, the reactions may continue.
