Market report for traders
🔮 BTC, ETH, and Altcoins
Over the last 7 days, Bitcoin ends at AU$129,427 moving -2.1% at the time of writing. Meanwhile, Ethereum ends at AU$3,0010.01 moving -2.4% week-on-week. On the Altcoin side, Solana -2.2%, Dogecoin -1.1%, and XRP +2.1% change.
🗞 What’s happening in the news?
💵Brazil’s Bold Move on Bitcoin Salaries
Brazilians could soon receive up to 50% of their salary in cryptocurrencies under Bill 957/2025, introduced by Federal Deputy Luiz Philippe de Orleans e Bragança. The bill “reinforces the principle of autonomy of will, allowing workers and employers greater freedom,” he explained. Employers must still pay at least half in Brazilian reals, except for foreigners. The proposed change was inspired by Japan, Portugal, and other crypto-friendly nations. Experts say that if passed, it could accelerate the mainstream adoption of cryptocurrencies and transform Brazil’s labour market.
📉Sacks’ Massive AU$312M Crypto Sell-Off to Clear Conflicts Prior to Federal Role
The White House memorandum revealed that Sacks and his firm, Craft Ventures, divested around AU$312 million in digital assets to “take significant steps” preventing conflicts of interest. About AU$132.8 million was directly linked to Sacks personally. Bitcoin has fallen since the inauguration, prompting heightened scrutiny over the exact timing of Sacks’ sales. “Despite your public statements via X, it remains unclear exactly when you divested,” said Senator Elizabeth Warren. Sacks stresses that transparency is essential for building stable, fair regulations.
🌏Ripple Scores Dubai Licence, Expanding Crypto Payments Reach
“We are entering an unprecedented period of growth for the crypto industry,” said Ripple CEO Brad Garlinghouse after becoming the first blockchain-powered payments provider licensed by the DFSA. Ripple sees the UAE’s early embrace of crypto as a springboard for broader stablecoin use, with their RLUSD stablecoin currently sitting at a market capitalization of around AU$209 million. Demand from the Middle East is rising, accounting for around 20% of Ripple’s customers. This licence adds to its 60-plus regulatory approvals worldwide, reinforcing its ambition for fast, affordable cross-border payments.
📖 What we’ve been reading
Michael Saylor’s Strategy makes smallest Bitcoin purchase on record
Despite BTC’s price falling below $80,000 last week, Strategy’s latest BTC buy was the smallest ever announced by the firm.
Bank of Korea to take ‘cautious approach’ to Bitcoin reserve
South Korea’s central bank says it has yet to discuss or review a potential Bitcoin reserve, despite recent calls from some lawmakers and crypto lobbyists for the country to do so.
Not every AI agent needs its own cryptocurrency: CZ
AI agents need to focus on utility over cryptocurrency issuance, as their cumulative market capitalisation is down 61% from the peak $70.4 billion.
*Disclaimer: The information provided is for educational purposes and does not constitute financial product advice. You should obtain independent advice from an Australian financial services licensee before making any financial decisions.*
