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The Indian court has ordered the ban of the Proton Mail service for refusing to provide user information. The ruling stems from accusations by a design company that some employees were subjected to abusive emails. Proton was previously hindered by a "false bomb threat" but continues to operate in India. This move reflects a global trend of taking action against user activities. Crypto asset exchanges face legal challenges in various countries, such as the U.S. imposing sanctions on Tornado Cash. India's regulation of the crypto industry is tightening, but the number of digital asset holders remains as high as 100 million.

The price of bitcoin is still considered undervalued by Fidelity analysis, and the use of the 'Bitcoin Ruler' indicator shows that its outlook is positive. JOLTS data showed that the U.S. labor market has cooled, which may strengthen interest rate cut expectations and boost risk assets such as bitcoin. Subscribe to bitcoin as a risk asset and a hybrid of gold, and pay attention to market developments and the actions of the Federal Reserve. It warns about the risks of bitcoin in the third quarter, but believes that its unique risk-reward ratio will outperform the altcoin.

Crypto executives have proposed that Michael Saylor adopt a more aggressive Bitcoin buying strategy, driving prices through corporate acquisitions and the cessation of over-the-counter trading. It is advisable to buy Bitcoin very casually to increase the price when there is insufficient liquidity. Fidelity Digital Assets said that the purchase of public companies has led to a decline in the supply of Bitcoin. It is advisable to purchase zombie companies and convert cash to Bitcoin. Bitcoin is below $100,000, challenging all-time highs. The trading price is $94,680. The vision is to boost the market and increase the company's market net asset value.

The decline in consumer confidence was mainly due to inflation fears caused by tariffs. The acceleration of imports by enterprises has exacerbated the trade deficit and pushed up inventories in the short term, but it cannot cover up weak consumption. Across-the-board tariffs could lead to higher inflation, creating challenges for the economy. Markets have shown concern that the Fed is facing a dilemma. Crypto assets may usher in safe-haven demand, but we need to be wary of the potential impact of policy adjustments on the market.

The Australian financial intelligence agency AUSTRAC is conducting a review of inactive crypto exchanges, concerned that these companies may be used for fraud. Ten companies have already had their registrations canceled, and AUSTRAC will publish a list of registered exchanges to help verify legitimate providers. Australia has not passed cryptocurrency regulations and is preparing to implement a new framework to regulate exchanges.

Bitcoin supply indicators show that profitability is nearing historical highs, suggesting that prices may reach $115,000. There are euphoric factors in the market, but the risk of a pullback exists. First-time buyers and momentum buyers are active, the support area is strong, and bullish sentiment remains. A breakout above $100,000 may pave the way for a new high of $110,000–$115,000.

Fraudsters impersonate Ledger and send letters to users requesting verification of their Private Key phrases to steal funds. Users must scan the QR code and enter the phrase after receiving the letter, or access may be restricted. Ledger reminds users to stay vigilant against Phishing. Fraudsters may exploit customer information from earlier data breaches. In 2020, Ledger suffered a Hacker attack that led to the leakage of customer information.

Short-term Bitcoin holders are re-entering the market, with hot capital rising over 90%, nearing $40 billion. The influx of new investors is driving market activity; the profitability of short-term holders has been restored. Although signs indicate early FOMO, a full bull run recovery has not yet occurred. Investors need to be cautious, as every decision carries risks.

Bitcoin mining company Phoenix Group has added 52 megawatts of mining capacity in Ethiopia, bringing its total global capacity to over 500 megawatts. The mining company values having abundant and low-cost energy and plans to commence operations in the second quarter of 2025. The new mining farm will be powered by renewable energy and is expected to become a new benchmark for sustainable mining in Africa. After being listed on the Abu Dhabi Securities Exchange, Phoenix Group's stock price rapidly rose, showcasing the strength of its large-scale mining projects.

Source: Cointelegraph
Original text: "Beijing Municipal Government Announces Blockchain Development Plan, Integrating Infrastructure"
The Beijing municipal government has announced a two-year local blockchain development and implementation plan.
According to the announcement on April 29, the plan was jointly formulated by the Beijing Municipal Science and Technology Commission, the Zhongguancun Management Committee, the Cyberspace Administration, the Government Service and Data Bureau, the Economic and Information Technology Bureau, and the Bureau of Commerce. The implementation is expected to begin this year and continue until 2027.
The "Beijing Blockchain Innovation Application Development Action Plan" regards blockchain as the "core technology architecture and important infrastructure for digitalization."
It is worth noting that the goals also include "promoting the release of digital factor value through blockchain technology". The announcement also claims that the city has made significant investments in this research area.
The plan involves the development of blockchain software aimed at achieving cryptography and confidentiality.

The compliance company Bitrace reports that in 2024, stablecoin transfers related to illegal activities reached $649 billion, accounting for 5.14% of the total volume. The dominant high-risk stablecoin trading is USDT based on TRON, with over 70% of the volume flowing on that network. The total amount of stablecoins processed by online gambling platforms reached $217.8 billion, with USDT again in a dominant position. The market share of USDC rose to 13.36%. In 2024, the revenue from crypto casinos exceeded $81 billion.

The UK government has proposed new regulations for Crypto Assets aimed at supporting innovation and combating fraud. The regulations cover cryptocurrencies such as Bitcoin and Ethereum, and require crypto exchanges to comply with relevant regulations to protect residents from high-risk companies and fraud. This regulation is inspired by the US-UK cross-border sandbox initiative, emphasizing a welcoming approach to business while closing the door on bad behavior. The final legislation on Crypto Assets will be presented after discussions with the industry.

The article points out multiple reasons supporting the prediction that Ethereum (ETH) price is likely to break through the $2000 mark, including the importance of maintaining above $1800, the recovery of institutional demand, and optimistic signs shown by data. Institutional demand continues to increase, and investor confidence in digital assets is strengthening. Ethereum is performing strongly in the DeFi sector, with the highest network value locked. Technical analysis shows that the ETH price is expected to recover to the $2100 level, and the RSI indicator indicates that the market is favorable for a pump. The vision points to $2500.

The issuer of the US dollar stablecoin, Circle, has received provisional approval from the Abu Dhabi regulatory authorities to expand into the Middle East market. In addition to regulatory progress, Circle is collaborating with Hub71 and plans to launch projects within a digital regulatory sandbox. The market capitalization of the USDC Token ranks second, with a current circulation of 62.03 billion USD. With the growing interest in stablecoins, Circle is actively entering new global markets and expanding its business with partnerships in the EU and Japan. The UAE aims to become a Web3 hub, attracting leading global digital asset companies through gradual regulation and strategic partnerships.

A16z Crypto led a $25 million seed round investment in Miden, a project focused on zk-SNARKs and highly scalable blockchain with an emphasis on confidentiality. Miden will execute applications on edge devices and launch its Mainnet in 2025. There are plans to airdrop Miden tokens to Polygon token holders. The founder believes that existing blockchains lack privacy and scalability, and Miden could act as a catalyst for adoption by large institutions. The founder of Inco pointed out that the lack of confidentiality limits institutional adoption and believes that privacy technology will unlock $1 trillion in capital.