Fed Beige Book: U.S. Economy Slows as Tariff Concerns Grow 📉

The Federal Reserve’s Beige Book reports a slowdown in U.S. economic activity over the past six weeks, with weaker hiring and rising concerns over tariff-related price hikes. Inflation was described as moderate, but many businesses expect faster cost increases ahead. The term “tariffs” appeared 122 times, up from 107 in April.

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A solo miner successfully mined a Bitcoin block, earning 3.151 $ BTC worth over $330,000 ⛏

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Upbit 24-hour trading volume ranking: BTC, XRP, and POKT ranked in the top three

According to CoinGecko data, in the past 24 hours, Upbit's trading volume reached US$1.496 billion, of which the BTC/KRW trading pair ranked first in the Korean won trading market with a trading volume share of 8.81%. The other top five are: XRP, POKT, ETH, and SOPH.

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JPMorgan will begin accepting select crypto-related assets as loan collateral for trading and wealth management clients, starting with BlackRock’s iShares Bitcoin Trust. The bank will also count crypto holdings toward clients’ liquid assets when evaluating net worth.

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Bluebird Mining Ventures announced plans to convert future gold mining revenues into Bitcoin and adopt BTC as a treasury reserve asset, becoming the first UK-listed mining firm to combine physical and digital gold in its strategy.

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More than 340,000 ETH (around $900m) are currently waiting in Ethereum's validator activation queue—the highest level since early 2024.

The surge in interest follows two key developments:
⚫The Pectra upgrade raised the staking limit per validator from 32 to 2048 ETH, making it more attractive for institutions
⚫New SEC guidance confirmed that staking does not constitute a securities offering, easing regulatory concerns

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Sui has partnered with Dubai’s Virtual Assets Regulatory Authority (VARA) to support startups, nurture local talent, and drive growth in the region’s crypto ecosystem, marking a strategic step in Sui’s global expansion.

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🗞 June 5, 2025 cryptocurrency news highlights

【Cryptocurrency】
Bluebird Mining Ventures announced plans to convert future gold mining revenues into Bitcoin and adopt BTC as a treasury reserve asset, becoming the first UK-listed mining firm to combine physical and digital gold in its strategy.

【Economy】
Sui has partnered with Dubai’s Virtual Assets Regulatory Authority (VARA) to support startups, nurture local talent, and drive growth in the region’s crypto ecosystem, marking a strategic step in Sui’s global expansion.

【Indicators】
More than 340,000 ETH (around $900m) are currently waiting in Ethereum's validator activation queue—the highest level since early 2024.

【More】
Fed Beige Book: U.S. Economy Slows as Tariff Concerns Grow 📉

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President Trump's Truth Social files S-1 form for their Bitcoin ETF 👀

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Bitcoin is flying off exchanges 💸

67,250 BTC withdrawn in the past week!

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Musk Drops Bombshell: Trump Appears in Epstein's Files💣

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Tesla's sell-off widens to 15%☄️

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Elon Musk Endorses "Trump Should Be Impeached" Tweet🤕

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Former senior Trump adviser calls for expulsion of Musk!👨‍⚖️

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Trump-Musk Fallout: Tesla Loses $150 Billion in Market Value — A Windfall for Vance?🔥

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Musk Has Offended Both Parties — Just to End the U.S. Fiscal Deficit

The Kobeissi Letter notes that Elon Musk has now upset both Republicans and Democrats, staying consistent in his goal to end America’s deficit spending. His stance reflects a broader mission to rise above politics and tackle the U.S. debt crisis. The Kobeissi Letter urges, “We must set aside politics to end the American debt crisis.”

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Pump•fun Urges Elon Musk to Join the Memecoin Battle with Trump 🆚

Pump•fun posted on X, addressing Elon Musk amid his apparent fallout with Donald Trump. The platform suggested Musk embrace the crypto spotlight by launching his own token, highlighting Trump’s recent memecoin initiative. Calling it a rare moment of support for “PVP” (player vs. player), Pump•fun framed it as a once-in-a-lifetime chance for Musk to make crypto history.

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WLFI Advisor Responds to "Shorting TRUMP": WLFI is not affiliated with TRUMP, and it is natural to hedge during uncertain times

WLFI advisor Ogle (@ cryptogle) responded to the "short TRUMP" on social media, saying: "How do people still not understand that the TRUMP meme coin project is different from the WLFI project? Anyway, in uncertain times, you have to hedge."

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Institutional Bitcoin ETF holdings fell by 23% in Q1 2025 to $21.2bn, marking the first quarterly decline since U.S. spot ETFs launched.

The drop is mainly attributed to Bitcoin’s price depreciation, though some investors actively reduced positions, while corporate treasuries continued accumulating BTC.

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The UK’s Financial Conduct Authority will lift its ban on crypto exchange-traded notes (cETNs) for retail investors, allowing them to be traded on FCA-recognized investment exchanges.

The move aims to boost the UK’s competitiveness in the digital asset sector while maintaining consumer protections under existing promotion rules.

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