Regulatory & Market Developments
US Regulatory Push Intensifies
SEC Chair Gary Gensler has once again urged Congress to advance the CLARITY Act, signaling a continued push for clearer regulatory frameworks around digital assets. This move highlights the growing pressure on US lawmakers to establish formal rules for the crypto industry.
Potential Expansion of Iran Sanctions
Sources indicate that sanctions against Iran may soon extend beyond traditional sectors to include digital assets, alongside aviation and shipping. This development underscores how geopolitical tensions are increasingly influencing the crypto financial landscape.
Corporate & Market Moves
Kraken Parent Company Delays IPO Plans
Payward, the parent company of crypto exchange Kraken, has internally postponed its initial public offering timeline. The company now targets Q2 2027 at the earliest for a potential listing, reflecting a cautious approach toward public markets amid current conditions.
New Ruling on Derivatives Market
A Michigan court has issued a preliminary injunction requiring prediction market platform Kalshi to continue blocking state residents from trading its sports event contracts. The ruling highlights ongoing regulatory scrutiny over novel financial derivatives in various US jurisdictions.
Macro & Asset Perspectives
Goldman Sachs Raises Gold Forecast
Goldman Sachs analysts have lifted their gold price target to $4,900 per ounce by year-end. They note that hedging activity in derivatives markets could act as an “amplifier,” potentially driving prices even higher amid macroeconomic uncertainty and inflation concerns.
Ethereum Price Outlook
BitMEX co-founder Arthur Hayes predicts Ethereum could reach $10,000 this year. He argues that potential expansion of the Federal Reserve’s balance sheet may inject fresh liquidity into crypto markets, with ETH positioned as a primary beneficiary.
FX Markets on Intervention Alert
Ahead of the Bank of Japan’s policy decision, currency traders are on high alert for possible intervention to support the yen. The upcoming “silver week”—a period of typically thin liquidity due to US holidays—is seen as a potential window for action by Japanese authorities.