Headlines

U.S. House of Representatives Aims to Advance Cryptocurrency Tax Legislation Covering Stablecoins, Staking, and Mining

The U.S. House Committee on Ways and Means will hold a cryptocurrency tax hearing, with seven draft bills already leaked, aiming to provide clearer rules on stablecoins, staking, mining, and tax exemptions for small transactions. Proposed measures include exempting capital gains taxes on stablecoin transactions below $200 and crypto earnings below $300, while explicitly stating that digital asset lending does not constitute a taxable event. (The Block)

Iran’s Strait Passage Fees Have Significantly Declined

According to the UK’s Lloyd’s List, some vessels passing through the Strait of Hormuz must now pay tens of thousands of dollars for Iranian passage permits, with fees drastically reduced from initial wartime levels of $1–2 million per vessel. Currently, dry bulk carriers face maximum fees of $120,000, while tankers are capped at $160,000, with specific rates varying by vessel type, cargo, and shipowner nationality. (Xinhua)

Glassnode Co-Founder: Bitcoin’s Bottom Zone Already Visible, High-Probability Bottom Likely Between $46K–$54K

Glassnode co-founder Rafael notes that Bitcoin’s current price of around $62,000 has declined nearly 50% from its all-time high, placing it within historical valuation clusters where previous bottoms have occurred. He estimates the high-probability bottom range to be between $46,000 and $54,000, with the $35,000–$40,000 zone below this considered a rare "sell-off tail." Notably, this correction has been approximately 50%, significantly less than prior cycles’ 77–85%, making a higher-range bottom more likely.

Industry News

U.S. Central Command Denies Destruction of Fifth Fleet Headquarters, Claims Interception of Iranian Missiles and Drones

The U.S. Central Command stated there are no reports of American personnel injuries and dismissed Iran’s claim of destroying the Fifth Fleet headquarters in Bahrain as false. The command also announced successful interception of missiles and drones launched by Iran. (Jinshi)

South Korea’s Finance Minister Chairs Emergency Meeting, Warns of Strict Crackdown on Foreign Exchange Market Speculation

South Korea’s finance minister chaired an emergency market assessment meeting, emphasizing that the government will not tolerate herd behavior in the foreign exchange market. Regulatory authorities will launch targeted reviews, impose strict penalties on speculative activities targeting the Korean won, and investigate any illicit foreign exchange transactions by importers and exporters. (Jinshi)

Insiders: U.S. Government Considering Equity Stake in AI Companies

Three informed sources revealed that senior U.S. government officials have initiated preliminary discussions with major AI firms regarding potential government equity participation. OpenAI CEO Altman has regularly discussed this concept with government officials since Trump’s second term began, positioning it as a mechanism to distribute AI economic benefits to the public. The focus remains on enterprises “voluntarily transferring shares to the government,” though specific details remain undetermined. (CCTV News)

State Council: Strictly Prohibits Private Equity Funds from Engaging in Unauthorized Lending, “Debt-Like Equity” Activities

The State Council General Office issued guidance addressing inadequate supervision and institutional shortcomings in the private equity fund industry, explicitly prohibiting unauthorized lending and “debt-like equity” practices by private funds. It calls for revisions to the Securities Investment Fund Law and aims to comprehensively establish a regulatory framework for private equity funds centered on administrative oversight with supplementary self-regulation.

Project News

ZEC Surpasses 430 USDT, Rises 22.31% in 24 Hours

OKX market data shows ZEC has broken above 430 USDT, currently trading at 431.7 USDT, up 22.31% over the past 24 hours.

Dragonfly Partner: Zcash Vulnerability Incident Overinterpreted by Market; Most Holders Unaffected

Dragonfly managing partner Haseeb stated that the market has significantly misinterpreted the Zcash vulnerability incident. He clarified that even if attackers exploit the flaw, they can only forge ZEC within the privacy pool. Any such tokens entering mainstream exchanges must first be transferred to transparent addresses, where any abnormal transfers exceeding the maximum supply would be detected and blocked. Thus, the vast majority of holders of transparent ZEC remain unaffected. He confirmed that Dragonfly continues to hold ZEC.

Voices

Trump: No Immediate Plan to Withdraw U.S. Troops from the Middle East

Trump stated that despite Iran’s severely weakened defensive and offensive capabilities, and fragile ceasefires frequently violated, there is currently no plan to withdraw U.S. troops from the Middle East. He noted Iran retains only about 21%–22% of its pre-war missile inventory, and emphasized that maintaining military presence “costs little” while enabling leverage in negotiations with Iran. (Jinshi)

Trump: No Justification for Fed to Raise Interest Rates

Trump stated there is no justification for the Federal Reserve to raise interest rates. (Jinshi)

Trader Eugene: Temporarily Exiting Crypto Market, Sees No Attractive Opportunities

Renowned trader Eugene announced his exit from cryptocurrency trading, redirecting focus to the stock market, which he views as offering greater potential. He expressed caution toward Strategy (MSTR), suggesting recent Bitcoin sell-offs may merely mark the beginning of deeper issues. He believes it’s premature to re-enter before Bitcoin decouples from MSTR, and currently holds off on bottom-fishing, maintaining a wait-and-see stance on short-term market bottoms.