Macro Risk-Off: Asia stocks slipped as markets priced more aggressive Fed action; oil bounced after the US waived Iran sanctions and reopened the Strait of Hormuz, keeping crypto near $64K but with traders split on whether the bounce can stick. Corporate Bitcoin Treasury Race: Strategy added 520 BTC for about $35M and boosted cash reserves by $300M to $1.4B, while JPMorgan warned mining economics are worsening with ~20% of miners unprofitable—raising sensitivity to price swings. Institutional Flows Cooled: Crypto institutional flows turned negative, with analysts citing about $8B in net outflows over 30 days across spot BTC ETFs, stablecoins, and Strategy. Regulation Watch: The US Senate passed a housing bill that bans the Fed from creating a CBDC until 2030, while the CFTC sought public input on 24/7 energy futures and perpetual contracts. Ethereum Build-Out: Former EF researchers launched Ethlabs with backing from Joe Lubin, Bitmine, and SharpLink to accelerate Ethereum’s institutional readiness; separately, Synthetix proposed retiring sUSD and compensating holders with SNX. On-Chain/Infra Moves: Baillie Gifford launched a tokenized yield fund on Ethereum and Solana via BNY, and Injective’s Vulcan upgrade cut oracle gas costs by 90%. Security & Crime: FBI/US reporting kept the Nancy Guthrie ransom-note saga in focus, while Japan arrested a Prince Group figure tied to a $15B “pig butchering” scam.