New sectoral developments that may affect crypto prices today are:
Thailand on Crypto for Tourism: -linked credit card platforms for tourists. According to Deputy PM and Finance Minister Pichai Chunhavajira, the goal is to modernize financial systems and make the country crypto-friendly for international visitors. The initiative is currently under review by the Ministry of Finance and the Bank of Thailand.
Bitcoin’s Role as Generational Wealth Surpasses Luxury Watches: Bitcoin’s role as a mature asset class becomes clearer. Jake Plonskier of Watches.io remarked, “Crypto wealth introduced a whole new market that can afford watches. Now men under 30 can afford Pateks and APs.” However, while crypto surged, luxury watches fell 4%. Thus, showing that their once-tight correlation has finally broken.
USDC Issuer Files IPO: , the issuer of USDC, has filed for an IPO on the NYSE under the ticker ‘CRCL.’ The offering may raise nearly $250 million through the sale of 9.6 million shares, with additional stakeholder shares possibly bringing the total to $625 million. This move signals growing confidence in stablecoin-backed business models.
New Bitget Stablecoin BGUSD Gets Attention: BGUSD was introduced on May 27, it is redeemable for USDC at a 1:1 ratio, and can be purchased using USDC or tether ( USDT). A promotional 5% annual percentage yield (APY) will apply for the first 30 days. “With BGUSD, we are delivering a solution that bridges the best of both worlds: the transparency and innovation of crypto with the stability and yield opportunities traditionally found in real-world assets,” said Bitget CEO Gracy Chen.
