S&PGR SAYS MATURING CRYPTO MARKETS CREATE NEW CYBER RISKS

Wholesale reference prices for Kweichow Moutai continued to decline, according to data. The 2026 vintage boxed bottles fell 30 yuan to 1,690 yuan per bottle, while loose bottles dropped 50 yuan to 1,580 yuan. The 2025 vintage also weakened, with boxed bottles down 20 yuan to 1,720 yuan and loose bottles down 30 yuan to 1,620 yuan.

Market & Price Movements - Bitcoin flirts with $66K as geopolitical tensions, macro uncertainty keep market range-bound Regulation & Policy - Fed's Barr invokes 'long and painful history' while encouraging strong stablecoin oversight - TD Cowen 'increasingly pessimistic' on crypto bill, sees one-in-three odds of passage this year - Dubai's VARA imposes margin, governance, and disclosure rules on crypto trading and derivatives Institutional & Financial Developments - New Hampshire authority to issue $100 million bitcoin-backed bond with speculative-grade rating from Moody's - Benchmark initiates coverage on Securitize, calls it a 'picks and shovels' play for tokenization - Bitfarms stock rises 5% after posting $284 million net loss in AI transition year Corporate & Industry Moves - Ripple partners with former Western Union unit to 'enhance' cross-border payments - Tether parts ways with ex-HSBC gold traders amid KPMG audit - South Korea's KB Card taps Avalanche for 'hybrid' stablecoin credit card Technology & Ecosystem - Chainalysis introduces 'blockchain intelligence agents' trained on millions of investigations Crypto Flows & Holdings - Bhutan government moves another $25 million in bitcoin as weekly transfers top 1,000 BTC: Arkham Industry Outlook - 'Unstable velocity': Standard Chartered says stablecoin usage rising faster than expected as new use cases emerge