Trump Unveils 0% Crypto Capital Gains Tax Plan
President Trump announced a proposal to implement a 0% capital gains tax on all cryptocurrency investments, aiming to eliminate federal taxes on profits from crypto holdings. This initiative would significantly alter current U.S. tax frameworks, which tax capital gains based on holding periods and income brackets.
Following the announcement, $BTC price increased by 3.14% over 24 hours, reaching $77,107.00. Bullish sentiment for $BTC registered at 75.2%, slightly above its typical baseline range of 65-75%. The $BTC Long/Short ratio indicated a strong bullish bias among traders, with 77% of positions leaning long.
Hormuz Strait Reopens, Fueling Global Market and Crypto Gains
Iran has officially reopened the Strait of Hormuz. This development followed reports of Iran removing marine mines from the Strait with U.S. assistance, actions confirmed by President Trump amidst signs of a potential U.S.-Iran deal.
The reopening of the Strait of Hormuz spurred gains across commodity and cryptocurrency markets. Gold rose 1.28% and Silver climbed 4.3%. In crypto, $BTC increased by 1.37% and $ETH gained 1.9%, reclaiming the $2400 level. Notably, approximately $760 million in oil shorts were placed 20 minutes prior to President Trump's announcement regarding the Strait's opening. Reports indicated that Iran conveyed to mediators that the reopening of Hormuz remained limited.
Schwab Launches Spot $BTC, $ETH Trading Services
Financial services giant Charles Schwab has officially launched spot trading services for $BTC and $ETH, offering direct cryptocurrency trading capabilities to its extensive client base. Leveraging its $11.8 trillion in client assets, these new services integrate spot crypto exposure within a regulated financial framework, significantly enhancing mainstream accessibility for BTC and ETH.
Bitcoin Holder Loses $243M in Targeted Social Engineering Attack
A Bitcoin holder recently fell victim to a targeted social engineering attack, leading to the theft of 4,100 $BTC, valued at approximately $243 million.
The attack involved perpetrators impersonating security personnel from a cryptocurrency exchange. Through deceptive communications, attackers manipulated the holder into divulging critical security information.
In the immediate aftermath, $BTC mindshare registered a 4.8% increase.
Ethereum Foundation Uncovers North Korean Web3 Operatives
The Ethereum Foundation announced the discovery of North Korean crypto operatives actively embedded within various Web3 projects. This discovery reinforces the persistent threat posed by state-sponsored entities, which have a documented history of involvement in crypto-related illicit activities.
The Foundation described these activities as a direct challenge to the decentralized web. Research notes, however, lacked specific details such as operative names, compromised Web3 projects, or timelines. No immediate market reactions were observed.