US Asks Negotiating Partners for Their “Best Offers”
The US has asked trading partners to submit their best offers by Wednesday, five weeks before President Trump’s “Liberation Day” tariffs are set to expire. The draft letter from the US Trade Representative asks for tariff and quota proposals for industrial and agricultural products, plans to eliminate non-tariff barriers, and commitments in areas such as digital trade and economic security. The US plans to set a mutual “baseline” for these proposals within days.
The initiative is part of the Trump administration’s aggressive tariff policies aimed at reducing trade deficits and protecting American industry. But the strategy has been thrown into legal limbo by a court ruling. The International Trade Court ruled that the president overstepped his legal authority in some of the tariffs, but an appeal has been launched. Despite this, the US emphasizes that it is determined to continue the tariffs with different legal powers and wants to accelerate the negotiations.
Ethereum Foundation Restructures, Reduces Core Team
The Ethereum Foundation (EF) announced that it will restructure its protocol development team and focus on three priority goals under the name “Protocol”: L1 scaling, expanding blobspace for rollups, and improving user experience. In this context, the team was reduced and some personnel parted ways.
While the new structure focuses on the goal of spreading Ethereum’s technology on a global scale, important developers such as Tim Beiko, Alex Stokes, and Barnabé Monnot were assigned to certain areas. With the leadership changes initiated by Vitalik Buterin in January and the governance structure reforms that came into effect in April, EF is transforming into a leaner and more strategic organizational structure.
Consensys Invests $425 Million in Ethereum in SharpLink
MetaMask developer Consensys has supported SharpLink, which aims to create the largest Ethereum treasury in the public market, with a $425 million private investment round. With the financing, SharpLink will also participate in protocol activities such as staking and DeFi by making ETH the main reserve asset.
Following the transaction, Consensys CEO and Ethereum co-founder Joseph Lubin joined SharpLink’s board of directors as chairman. The Nasdaq-listed firm joins the ranks of public companies adopting a crypto treasury strategy with this move, while DeFi Development Corp. and Upexi are making similar moves based on Solana.
Strategy Plans $250 Million Stock Sale to Purchase Bitcoin
Michael Saylor’s Strategy is planning to launch a new preferred stock offering called STRD on Nasdaq in order to raise $250 million for Bitcoin purchases and operating expenses. STRD, which will be sold for $100 per share, will offer a 10% annual dividend yield.
The company, which previously completed similar stock offerings called STRK and STRF this year, continues to expand its Bitcoin reserves. Strategy, which purchased 705 BTC last week, now has a total of 580,955 BTC. However, the company warns that any potential sharp declines in the price of Bitcoin could put pressure on its financial liabilities.
Strategy Continues to Buy Bitcoin
Strategy, led by Michael Saylor, has purchased an additional 705 BTC for the eighth week in a row, bringing its total holdings to 580,955 BTC. The purchase cost the company about $75 million, at an average price of $106,495. BTC is currently trading at $104,000, and Strategy has more than $20 billion in unrealized profits.
Bitcoin’s adoption as a balance sheet asset is spreading in the institutional space. More than 70 companies have followed Strategy’s lead, including Tether-backed Twenty One, Trump Media and GameStop. However, some of the companies’ stock prices have fallen following news of the BTC purchases. Saylor, on the other hand, describes these developments as “short-term fluctuations” and emphasizes that they will continue to purchase Bitcoin with determination.
Sberbank Launches Bitcoin-Linked Bond Move
Russia’s largest bank, Sberbank, has introduced a new structured bond product that tracks changes in the Bitcoin price and the dollar/ruble exchange rate. These bonds are offered to qualified investors over-the-counter (OTC) and all transactions are conducted in rubles, through the country’s legal infrastructure.
Investors will be able to profit from BTC price movements and currency fluctuations without opening a crypto wallet or accessing foreign exchanges. Sberbank also plans to launch a Bitcoin futures product that will be listed on the Moscow Exchange on June 4. The move comes on the heels of the Russian Central Bank allowing crypto-related financial products for qualified investors.
SEC Seeks Feedback on ‘In-Kind’ Transactions for WisdomTree Bitcoin Fund
The U.S. Securities and Exchange Commission (SEC) has solicited public feedback on a rule change to allow in-kind creation and redemption transactions for the WisdomTree Bitcoin ETF.
The move follows earlier moratoriums on similar requests by major funds such as BlackRock and VanEck for spot Bitcoin and Ethereum ETFs. The SEC announced that it has launched a 21-day consultation period to further evaluate the regulatory and legal aspects of such transactions.
“In-kind” transactions allow investors to buy and sell fund shares directly with Bitcoin instead of cash.
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BITCOIN (BTC)
Bitcoin is stuck sideways between the $ 101,315 and $ 107,319 levels. After receiving a reaction from the $ 105,778 level with the decline at the end of May, it has approached this level again. If the 107,319 resistance is overcome, upward momentum up to $ 111,861 may gain strength. However, selling pressure is seen coming again from the level of 105,372. The level of 101,315 stands out as the critical support below; if this level is broken, there may be a pullback towards the $94,915 level.
ETHEREUM(ETH)
Ethereum has been exhibiting a horizontal squeeze view in the $ 2,460 – $ 2,750 range for the last few weeks. Currently, there is a price close to the midpoint of this region. If this consolidation breaks upwards, above $ 2,800 can be targeted, while in case of a downward break, a pullback towards the 2,097 support is possible. Therefore, the break of this horizontal band should be followed for direction determination.
RIPPLE(XRP)
XRP reacted from the demand zone in the $ 2.11 – $ 2.15 range and recovered to the level of 2.197. As long as the 2.233 resistance is not broken, upward movements may remain weak. However, if this zone is broken upwards, the 2.363 and 2.483 levels can be targeted. Falling below the 2.1139 level again may accelerate the decline.
AVALANCHE(AVAX)
Avalanche rose to the $21.48 resistance after a strong reaction from the $20.25 level. However, this level is critical as it is both a horizontal resistance and a previous breakout zone. Breaking this zone could trigger a new upward wave for AVAX. Otherwise, the price is likely to test the 20.25 support again.
SOLANA(SOL)
Solana rose to the $159 level with strong purchases from the $148-144 band. If the rise continues, the 166.26 resistance can be followed as the first target. Above this level, the 176.27 and 184.94 levels are in the resistance position, respectively. If it falls below $ 148, selling pressure may increase.
