FameEX Morning Crypto News Recap | May 16, 2025
2025-05-16 07:40:50EU, US Expedite Trade Talks as Trump Cuts Tariffs to 10%
On May 15, Polish Deputy Minister Baranowski said EU-U.S. trade talks are gaining momentum. To support the negotiations, Trump will temporarily reduce tariffs on European manufacturers to 10% for 90 days. Baranowski viewed this as a positive signal, indicating eased tensions and accelerated discussions between both sides.
Senate Amendment to GENIUS Act Prohibits Big Tech from Issuing Stablecoins
A U.S. Senate amendment to the GENIUS Act bans non-financial firms such as Meta, Amazon, and Google from issuing stablecoins without meeting strict standards. It also forbids misleading claims of FDIC insurance or government backing to protect consumers and improve regulatory transparency in the digital asset industry.
Bitcoin Google Searches Drop to Six-Month Low as Retail Interest Fades
Bitcoin’s Google search volume drops to a six-month low, reflecting declining retail interest despite its recent price rise.
Ethereum Rallies 50% in a Week, Overtakes Cost Basis for Most Wallets
By May 15, Ethereum (ETH) had jumped over 50% in a week, surpassing most holders’ average cost basis. Wallet data shows average entry points of $2,225 for 100–1,000 ETH, $2,196 for 1,000–10,000 ETH, and $1,994 for 10,000–100,000 ETH. Large holders with over 100,000 ETH averaged a much lower cost basis of $1,222.
Negative Trend Emerges in Crypto Funding Rates
On May 15, Coinglass data indicated that funding rates on major CEXs and DEXs shifted from neutral to bearish. Funding rates align contract and asset prices through payments between long and short traders. Rates above 0.01% suggest bullish sentiment, while rates below 0.005% reflect bearish trends. Platforms don’t charge this fee directly.
JPMorgan's Dimon Issues Alert Over Recession Concerns
On May 15, CNN reported JPMorgan CEO Jamie Dimon said he wouldn't rule out a U.S. recession, despite the bank lowering odds below 50%. Speaking in Paris, Dimon expressed caution. While he rarely meets Trump, he maintains communication with other government officials, according to his Bloomberg interview.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.