FameEX Morning Crypto News Recap | May 16, 2025
2025-05-16 07:39:31EU and US Fast-Track Trade Talks as Trump Slashes Tariffs to 10%
On May 15, Polish Deputy Minister Baranowski announced that EU-U.S. trade talks are accelerating. Trump will cut tariffs on European manufacturers to 10% for 90 days to aid negotiations. Baranowski sees the U.S. move as a positive sign of easing tensions and faster progress.
Senate GENIUS Act Amendment Bars Tech Giants from Launching Stablecoins
A new U.S. Senate amendment to the GENIUS Act bars non-financial firms like Meta, Amazon, and Google from issuing stablecoins unless they meet strict standards. It also prohibits false claims of FDIC insurance or U.S. government backing, aiming to protect consumers and enhance regulatory clarity in the digital currency sector.
Google Search Interest in Bitcoin Falls to Six-Month Low as Retail Demand Wanes
Bitcoin’s Google search volume hits six-month low, signaling waning retail interest despite the cryptocurrency’s recent price increase.
Ethereum Jumps Over 50% in One Week, Exceeds Most Investors’ Cost Basis
As of May 15, Ethereum (ETH) has surged over 50% in a week, pushing its price above the average cost basis of most holders. Wallet data reveals that holders of 100–1,000 ETH have an average entry of $2,225, 1,000–10,000 ETH at $2,196, and 10,000–100,000 ETH at $1,994. Large holders with over 100,000 ETH have a significantly lower average cost basis of $1,222.
Crypto Market Funding Rates Signal Bearish Momentum
On May 15, Coinglass data revealed that funding rates across major CEXs and DEXs shifted from neutral to bearish. Funding rates help align contract and asset prices, reflecting market sentiment. A rate below 0.005% signals bearishness, while rates above 0.01% indicate bullish sentiment. These rates are exchanged between traders, not charged by platforms.
JPMorgan CEO Warns of Looming Economic Downturn
On May 15, CNN reported that JPMorgan CEO Jamie Dimon, at the bank’s annual meeting in Paris, told Bloomberg he wouldn’t rule out a U.S. recession. Although JPMorgan economists recently cut recession odds below 50%, Dimon remains cautious. He rarely meets Trump but stays in contact with government officials.
Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.