US Court Blocks Trump’s General Tariffs
The US Court of International Trade has permanently voided President Donald Trump’s sweeping tariffs on imports, finding them unconstitutional. The court stated that Congress alone has the authority to regulate trade and that Trump exceeded this authority by using the IEEPA law. After the decision, the White House objected to the decision and appealed.
The decision was made as a result of lawsuits filed by many small businesses and 12 states. The court declared that Trump’s strategy of extracting concessions from trade partners by imposing tariffs ranging from 10% to 54% on imports had no legal basis. While this decision could greatly weaken the Trump administration’s negotiating power, it was welcomed positively in financial markets and the dollar strengthened.
Trump Brothers Predict Bitcoin Could Exceed $170,000 in 2026
Don Jr. and Eric Trump said at the Bitcoin 2025 conference in Las Vegas that Bitcoin could exceed $170,000 by the end of 2026. Eric joked that demand for BTC had outpaced supply and that Bitcoin would “reach the moon.” BTC, which is currently trading around $107,000, reached an all-time high of $112,000 last week. The brothers also announced that they have invested heavily in crypto and are active in projects such as World Liberty Financial and American Bitcoin.
Eric Trump stated that they turned to crypto investments with the inspiration of Michael Saylor, and emphasized that the traditional financial system has been “weaponized” and that trust in the banking system has been shaken. He also stated that many private offices and royal families around the world have begun to create Bitcoin treasuries. On the other hand, Democrats are investigating allegations of corruption and conflict of interest related to the Trump family’s crypto assets.
State-Backed Bitcoin Reserve to Be Established in Pakistan
Pakistan has officially announced a plan to establish a state-owned strategic Bitcoin reserve. Bilal Bin Saqib, CEO of the Pakistan Crypto Council and Prime Minister Shehbaz Sharif’s new blockchain advisor, said at the Bitcoin 2025 conference in Las Vegas that this reserve is not designed for speculation purposes, but as a long-term digital strategy. Bin Saqib, who emphasized that Bitcoins will not be sold, did not provide details about the amount of the reserve.
In addition, Pakistan plans to mine Bitcoin with 2,000 megawatts of energy and build artificial intelligence data centers. The country will also explore blockchain-based government efficiency projects and the tokenization of illiquid assets such as real estate. Saying that they were inspired by the US’s national Bitcoin reserve step, Bin Saqib emphasized that Pakistan was closely following global developments in crypto adoption.
JD Vance Says Bitcoin Will Be a Strategic Asset for the US
Speaking at the Bitcoin 2025 conference held in Las Vegas, US Vice President JD Vance emphasized that Bitcoin will be a strategically important asset for the US in the next decade. Stating that they continue the crypto-friendly approach of the Trump administration, Vance said that they are working to remove the regulatory barriers left by the previous administration.
Vance stated that creating clear and growth-supporting legal frameworks for stablecoins and introducing transparent regulations for digital assets are his primary goals. He also stated that they parted ways with anti-crypto regulators, citing the dismissal of former SEC Chairman Gary Gensler as an example. According to Vance, cryptocurrencies should be seen as a hedge against bad economic policies and political discrimination.
SEC Postpones Bitwise 10 Crypto Index ETF Decision
The U.S. Securities and Exchange Commission (SEC) has postponed its decision on Bitwise’s application for a 10 Crypto Index ETF, which includes major assets such as Bitcoin, Ethereum, XRP, Solana, and Cardano, to July 31, 2025. The proposed rule change for the application to be traded on the NYSE Arca exchange was submitted in November 2024 and then opened to public comment. The SEC had previously decided to postpone it twice during this process.
Bitwise 10 Crypto Index Fund (BITW) aims to offer a diversified portfolio by investing in the top 10 major crypto assets selected by criteria such as market capitalization and trading volume. The fund currently stands at $1.4 billion, with 78% of its holdings in Bitcoin. The SEC’s postponement of Grayscale’s spot Cardano and Avalanche ETF applications suggests that the expected cautious stance on crypto ETFs continues. However, analysts predict that approvals could come in the second half of 2025.
GameStop Strengthens Treasury Reserves by Purchasing 4,710 Bitcoin
According to a document filed with the U.S. Securities and Exchange Commission (SEC), GameStop announced that it purchased 4,710 Bitcoin on May 28. At a market price of approximately $109,080 per Bitcoin, the total value of this purchase is approximately $513 million. The company decided to adopt Bitcoin as a treasury reserve asset in March and issued $1.5 billion in convertible bonds for this purpose in April. GameStop joins more than 210 public companies holding Bitcoin on their balance sheets with this move. The company’s shares rose 3% in U.S. premarket trading following the announcement.
Bergen County to Move $240 Billion in Deed Records to Avalanche
Bergen County, a wealthy New Jersey county, has decided to move 370,000 deed records to the Avalanche blockchain network. These records represent approximately $240 billion in real estate. Under the five-year agreement with Balcony, the deeds will be converted into a digital, immutable ledger, making transactions faster and more secure.
The move is a strong example of the “tokenization” trend, which is the digitization of physical assets such as real estate on the blockchain. According to officials, the system will reduce transaction times by 90% while providing municipalities with additional revenue and transparency. The Avalanche network was previously used by the California DMV to digitize vehicle registrations.
eToro Adds 12 New Crypto Assets in the US Following Nasdaq IPO
The newly-listed trading platform eToro has expanded its crypto asset portfolio in the US. The platform has listed 12 new tokens, including Dogecoin, XRP, Shiba Inu, and Cardano, bringing the total number of cryptos available to US users to 15. The move is seen as part of eToro’s strategy to gain a broader presence in the US market.
eToro has raised $310 million by going public on Nasdaq under the ticker symbol ETOR. The share price is trading above the $52 set at the IPO, reflecting investor confidence. This development makes eToro the first major crypto trading platform to go public in the US, while putting the company in more direct competition with rivals like Coinbase and Robinhood.
TON Slumps After XAI Partnership Deal Not Signed
The price of the TON token skyrocketed after Telegram founder Pavel Durov announced that xAI’s artificial intelligence Grok would be integrated into Telegram. However, Elon Musk denied the speculation, stating that no such deal has yet been signed. Following this announcement, the TON price dropped from $3.60 to $3.28.
Durov confirmed Musk’s statement, stating that only an agreement in principle had been reached and that no formal signatures had been made. The potential deal would include offering Telegram 50% of xAI subscription revenues and $300 million in cash and stock. However, the fact that the agreement has not been formalized has disappointed investors.
Trump Administration Lifts Crypto Ban in 401(k) Retirement Plans
The Trump administration has officially withdrawn the 2022 guidance introduced during the Biden era that discouraged crypto investments in 401(k) retirement plans. The Labor Department stated that it will now take a “neutral stance” on the use of crypto assets in retirement funds and that investment decisions should be made by plan administrators.
Secretary Lori Chavez-DeRemer criticized the “excessive intervention” of the previous administration and stated that the new approach defends market freedom. The move comes as the Trump administration has dropped lawsuits filed against exchanges like Coinbase and Kraken as part of its crypto-friendly policies, and the SEC has set up a crypto-focused task force.
BlackRock to Pledge 10% Partnership in Circle IPO
BlackRock plans to take about 10% of the shares to be offered in the IPO of stablecoin issuer Circle. According to Bloomberg, Circle and shareholders, including CEO Jeremy Allaire, are aiming for a total of $624 million. The IPO reportedly outpaced supply, with pricing set for June 4. BlackRock is an investor tied to the company through its Circle Reserve Fund, which currently manages 90% of USDC reserves.
Circle’s U.S.-based IPO speaks to both its regulatory-friendly nature and the growing institutional interest. USDC is the second largest stablecoin with a market cap of $61.3 billion and has already reached $10 trillion in transfer volume in 2024. Circle’s cash and government bond-backed reserve structure is also in line with the stablecoin bill being discussed in the US Congress. This development aims to move Circle to a transparency-focused, regulated growth model.
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BITCOIN(BTC)
BTCUSDT has retreated to around the 108,000 support with the sell-off from the 111,861 level. This level coincides with the middle zone of the recent uptrend and is a strong short-term support. If this level is broken downwards, the 107,319 and 105,778 levels may come to the agenda respectively. In case of an upward reaction, 111.861 can be tested again. The price is currently consolidating in a narrow range and may be preparing for the next breakout that will determine the direction.
ETHEREUM(ETH)
ETHUSDT, after a long-standing horizontal consolidation in the 2.450 – 2.725 band, made a strong attack towards the upper limit of the band. The price is currently testing the resistance around 2.725. Daily closings above this level may pave the way for an increase towards 2.857. However, as it remains below the resistance, the lower level of the band, 2.450 and below 2.097, may come to the fore again. A clear breakout is required for the bullish structure to be confirmed.
RIPPLE(XRP)
XRPUSDT rose to 2.28 levels again with the reaction it received from the 2.2330 support. However, for this rise to be permanent, the 2.3630 resistance must be overcome. Otherwise, the price may retreat towards the 2.2330 and 2.1139 supports again. The 2.4834 and 2.6445 levels above are the resistance areas to be followed in the broader time frame. In the short term, compression and directional uncertainty are striking.
AVALANCHE(AVAX)
AVAXUSDT rose to 23.62 levels with the strong reaction it received from the 22.09 support. However, the price is still under the influence of the horizontal resistance in the 23.50 – 24.00 band. This region should be followed carefully as it has worked as both support and resistance in the past. The 25.96 region is the main resistance and the bullish structure can only be strengthened by breaking this level. In possible selling pressures, the 22.09 and 21.03 levels can be monitored as support, respectively. For now, there is a horizontal and cautious appearance.
SOLANA(SOL)
SOLUSDT price has entered a horizontal consolidation process between the $ 168.00 – $ 176.27 band in recent days. While the 176.27 level works as a significant resistance, the 166.26 region below stands out as the critical support. Although the price rises to the middle band again with the reaction it received from the 168.00 support, its upward momentum may remain limited unless it exceeds 176.27. If this level is exceeded, 184.94 stands out as the first target. Otherwise, if the price drops below 166.26, a gradual pullback to 144.87 may occur. The general structure exhibits a weak appearance below the resistance.
