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The crypto industry has not collapsed, and the current downturn was triggered by external factors, making it difficult to call this a true "crypto winter," according to a report from Asian Web3 research and consulting firm Tiger Research. In its report, titled "2026 Is It Crypto Winter Now? Market Changes After Regulation," the firm explained that the past three crypto winters all followed a pattern of a major incident leading to a collapse in trust and a subsequent talent exodus. While similar patterns like the Oct. 10 liquidation event are being observed, the key difference is that the trigger was not internal to the industry. The report added that as regulatory clarity improves, the conditions for the next bull run are becoming clear. These include the emergence of a new killer use case from unregulated sectors and a shift in the macroeconomic environment to favor risk assets. Tiger Research concluded that while a "crypto season" where all assets rise is unlikely to return, the next bull run will come, though it will not benefit everyone.

Cryptocurrency lending protocol Aave (AAVE) is officially shutting down Avara, its integrated brand for Web3 projects, according to The Block. The move is part of a plan to divest intellectual property (IP) unrelated to lending and refocus its core efforts on its lending protocol.

South Korea is expected to release guidelines for corporate investment in virtual assets as early as next month, Chosun Biz reported. Financial authorities are concerned that large-scale corporate crypto investments could threaten financial soundness and are considering a plan to limit such investments to between 5% and 10% of a company's own capital. The guidelines are set to include rules on the types of virtual assets corporations can invest in, requirements for using custody services to store assets before and after trading, and measures to prevent corporate money laundering. However, trading is expected to be difficult for listed companies in which the government holds a stake, as well as for financial firms such as banks and insurance companies. The final investment cap for corporations is still under discussion.

An address believed to belong to Singapore's DBS Bank deposited 3 million USDC to Galaxy Digital about an hour ago, The Data Nerd reported. The move is thought to be for the purpose of purchasing ETH.

The Democratic Party of Korea's Digital Asset Task Force (TF) is in the final stages of drafting its second-phase legislation, a basic act on digital assets, Digital Asset reported exclusively. The TF reportedly plans to consolidate five related bills from its member lawmakers and submit the unified proposal to the party's policy committee this week. Following coordination with the government, Policy Committee Chairwoman Han Jeong-ae is expected to sponsor the bill. However, the legislative process may face hurdles. South Korea's Financial Services Commission is pushing to limit the stake of major shareholders in digital asset exchanges to between 15% and 20%, a level similar to that for Alternative Trading Systems (ATS). In contrast, TF members and industry representatives are reportedly hesitant or opposed to this measure.

CoinMarketCap's Altcoin Season Index is currently at 29, down one point from yesterday. The index is calculated by comparing the price performance of the top 100 coins by market capitalization, excluding stablecoins and wrapped tokens, against Bitcoin. An 'altcoin season' is declared when 75% of these coins outperform Bitcoin over the preceding 90 days, while the opposite is considered a 'Bitcoin season.' A reading closer to 100 suggests conditions are favorable for an altcoin season.

Onchain Lens reported that Trend Research deposited an additional 15,000 ETH, worth $33.08 million, to Binance approximately six hours ago. To date, the firm has sold a total of 153,588 ETH ($350 million) and subsequently repaid its loans.

The Fear & Greed Index from crypto data provider Alternative fell three points from yesterday to 14, remaining in the extreme fear category. The index indicates extreme market fear as it approaches zero and extreme optimism as it approaches 100. It is calculated based on volatility (25%), market volume (25%), social media mentions (15%), surveys (15%), Bitcoin dominance (10%), and Google search trends (10%).

Aave DAO has announced a plan to streamline its Aave V3 multi-chain operations. The first phase includes discontinuing operations on its zkSync, Metis, and Soneium versions and establishing a minimum annual revenue guarantee of $2 million as a requirement for future Aave V3 deployments.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

President Trump signed a bill to end the partial U.S. government shutdown, Walter Bloomberg reported.

The period from May to July may be an opportune time to accumulate Bitcoin, according to a Cointelegraph analysis. The report notes that while rising government bond yields typically increase corporate interest burdens and widen credit spreads, these spreads are currently remaining low. This suggests that investors may be underestimating the risk of corporate defaults. Historically, during the 2018, 2020, and 2022 cycles, Bitcoin's true bottom occurred three to six months after credit spreads began to widen significantly. The outlet explained that rising U.S. Treasury yields are likely to pressure the credit market, potentially pushing spreads to between 1.5% and 2% by April.

Michael Burry, the investor famed for "The Big Short," has warned that the risk extends beyond a simple Bitcoin price drop to a potential chain reaction of bankruptcies among companies with large BTC holdings, which could trigger a systemic crisis in the broader financial market. According to Walter Bloomberg, Burry noted that Bitcoin has lost its function as digital gold and could drive its corporate holders into bankruptcy, causing ripple effects throughout the market.

Strategy is currently facing an unrealized loss of $750 million on its Bitcoin holdings, according to Unfolded. The current value of the company's Bitcoin portfolio stands at $53.5 billion.

Nasdaq-listed insurance brokerage firm Tian Ruixiang Holdings (TIRX) has announced a plan to purchase $1.1 billion worth of Bitcoin in exchange for company shares. According to Cointelegraph, the company has entered into a strategic agreement with an anonymous investor to acquire 15,000 BTC. The deal also includes a strategic partnership focused on businesses related to artificial intelligence (AI) and cryptocurrency. The investor was described only as a global digital asset investor with experience across the crypto and technology markets. Details such as the timing of the transaction, asset custody methods, and payment arrangements have not been disclosed.

The Canadian Investment Regulatory Organization (CIRO) has announced a new digital asset custody framework to strengthen regulations on how crypto assets are stored. According to CoinDesk, CIRO is introducing new rules with stricter standards for trading platforms to respond more quickly to issues that have endangered investors in the past, including hacking, fraud, and corporate bankruptcies. The agency cited the 2019 collapse of Canadian crypto exchange QuadrigaCX as a key example.

The three major U.S. stock indices closed lower today. - S&P 500: -0.84% - Nasdaq: -1.43% - Dow Jones: -0.34%

Sandy Kaul, head of innovation at global asset manager Franklin Templeton, said at the Ondo Summit that digital wallets will store all of people's assets in the future. She predicted that "wallet-native" investment, where most financial assets are stored and managed in tokenized digital wallets, will become key. Kaul emphasized that the next step in asset management is not just digitalization but a method optimized for wallets. Executives from Franklin Templeton, Fidelity, State Street, and WisdomTree who gathered at the summit warned that while tokenization itself is past the theoretical stage, the biggest future obstacles will be trust, education, and practical utility.

Whale Alert reported that 200,000,000 USDT has been transferred from an unknown wallet to Binance. The transaction is valued at about $200 million.

Whale Alert reported that 809,517,322 USDT has been transferred from OKX to an unknown wallet. The transaction is valued at about $809 million.

Whale Alert reported that 809,517,322 USDT has been transferred from an unknown wallet to OKX. The transaction is valued at about $810 million.

Patrick Witt, U.S. President's Council of Advisors for Digital Assets, said he will not tolerate anti-corruption provisions within the crypto market structure bill (CLARITY Act) that target President Donald Trump. In an interview with CoinDesk, Witt described the bill's initial ethics-related provisions as completely absurd. He stated that there is a red line and that targeting the president personally or his family will never be tolerated. Witt emphasized that he expects the Democratic Party to present a more reasonable proposal to reach an agreement. Democrats have been demanding restrictions on the use of cryptocurrencies by senior government officials.

The U.S. Treasury Department is investigating cryptocurrency exchanges for allegedly helping Iran evade sanctions, TRM Labs reported. According to CoinDesk, Ari Redbord, head of global policy at TRM Labs, said the Treasury is shifting its investigative focus from individual wallets to cryptocurrency infrastructure. He explained that the issue is not merely that sanctioned individuals use crypto, but that this sanctions evasion activity appears to be concentrated within exchange systems. One case identified by TRM Labs involves Zedcex, an exchange that seems to operate on infrastructure controlled by Iran's elite Islamic Revolutionary Guard Corps (IRGC). Zedcex is reported to have processed approximately $1 billion in funds linked to the IRGC. This amount constituted about 56% of the exchange's total trading volume, with the proportion peaking at 87% in 2024.