depreciation

According to Jinshi, U.S. Treasury Secretary Yellen stated that the level of the yen exchange rate could trigger other issues, including depreciation.

According to Jinshi reports, Japanese Finance Minister Katsuyuki Kitagawa will announce on Monday that Tokyo and Washington have taken joint action to curb the depreciation of the yen.The joint intervention by the US and Japan regarding the yen is still ongoing.

According to Jinshi, during the U.S. trading session on Thursday, the exchange rate of the yen against the dollar surged sharply, reaching as high as 157.8 yen per dollar. Market insiders revealed that the Japanese government and the Bank of Japan implemented a currency intervention by buying yen and selling dollars, while U.S. monetary authorities also conducted a "currency check" as a preliminary stage of intervention. This indicates that Japan and the U.S. have jointly taken action to curb the depreciation of the yen.

According to Jinshi reports, Samsung Electronics stated that the depreciation of the Korean won had a positive impact of 3.1 trillion won in the second quarter.

According to CoinDesk, as the U.S. government debt continues to rise, investors are refocusing on scarce assets like Bitcoin and gold, viewing them as tools to hedge against the declining purchasing power of the dollar. Data from the U.S. Treasury shows that as of last Friday, the federal debt has reached a record $39.7 trillion. Market participants point out that U.S. government debt is currently increasing by about $7 billion per day, and in terms of market value, this incremental scale has surpassed most crypto assets.The founder of LondonCryptoClub stated that the rapid growth of U.S. debt is driving the so-called "currency devaluation trade," where investors buy limited-supply assets like gold and Bitcoin to mitigate the long-term devaluation risk of fiat currency. The institution believes that in a "fiscal-dominated" environment, Federal Reserve policy may be influenced by government financing needs, requiring interest rates to remain low while continuously providing liquidity to assist with debt refinancing.Apollo's chief economist Torsten Slok previously warned that the ratio of U.S. debt to GDP has exceeded 120%, leaving limited fiscal stimulus space during future economic recessions. At the same time, the Federal Reserve may find it difficult to cut interest rates significantly as it did in the past, since rate cuts could exacerbate inflation and lower government bond yields, affecting government financing. Currently, Bitcoin prices are maintaining above $65,000, supported by easing tensions between the U.S. and Iran and a drop in oil prices, leading to a rebound in market risk appetite.Meanwhile, Ethereum has recently outperformed Bitcoin, with the ETH/BTC exchange rate breaking through the 100-day and 200-day moving averages, leading the market to believe that altcoin trends may be warming up. However, analysts point out that since its inception in 2010, Bitcoin's price movements have more closely resembled those of tech stocks rather than traditional safe-haven assets, and its safe-haven properties remain controversial.

Digital asset infrastructure company BitGo Holdings (NYSE: BTGO) recently released its first quarterly report since going public. In the first quarter of 2026, the company reported total revenue of $3.77 billion, a year-on-year increase of 112.6%, mainly driven by the expansion of its digital asset business and growth in stablecoin-as-a-service revenue.However, GAAP net loss widened from $25.7 million in the same period last year to $60.7 million, due to a non-cash market value adjustment of approximately $53.7 million on Bitcoin holdings and increased equity incentive expenses related to the IPO. Adjusted EBITDA recorded a loss of $1.7 million, compared to a profit of $3.9 million in the same period last year.During the quarter, BitGo launched its derivatives business in January, generating approximately $3 billion in nominal trading volume. Since derivatives revenue is recognized on a net basis while spot trading is recognized on a gross basis, revenue decreased by 38.7% quarter-on-quarter. The number of customers increased by 42% year-on-year to 5,569. As of the end of the quarter, the company held 2,449 Bitcoins and $186.6 million in cash.

According to CoinDesk, amidst the impact of the Middle East conflict on global stock markets and commodities, Bitcoin has risen against the trend, reaching a one-month high and helping to revitalize the overall cryptocurrency market. After falling nearly 50% from its historical high in October last year, Bitcoin had once been in the oversold territory.Following the outbreak of this round of key conflicts, traditional assets have significantly declined, while BTC's relatively strong performance has reinforced its temporary "safe-haven narrative." Market analysis suggests that this round of increase is mainly driven by three factors:The return of the "fiat currency depreciation" logic, as the intensifying Middle East conflict exacerbates global fiscal pressures, which may lead to expectations of more easing and deficit expansion, strengthening the "fiat currency depreciation" narrative, prompting some funds to be reallocated to digital assets.There may be expectations for a de-escalation in the Middle East situation. Although there has been no response from the U.S., this news has strengthened market expectations that "the conflict may not spiral out of control for a long time," supporting the recovery of risk asset sentiment.The CLARITY Act is close to being passed, aiming to clarify the legal status of stablecoins, which is beneficial for the cryptocurrency market.

Bitcoin mining company Abundant Mines CEO Beau Turner disclosed that as the U.S. tax law restores full "Bonus Depreciation" policy in mid-2025, eligible Bitcoin mining equipment can now achieve a 100% tax deduction in the year of purchase.Turner pointed out that under the current tax framework, if investors directly hold mining hardware, they can immediately deduct the entire equipment cost as an expense, significantly reducing taxable income for the year. He stated that this has become "one of the most powerful tax strategies in the crypto industry." Reports indicate that as tax season approaches, changes in relevant tax policies are prompting the market to refocus on the asset allocation and tax planning value of Bitcoin mining.

According to Jinshi News, the Federal Reserve's meeting minutes show that at the January meeting, Roberto Perli, the manager responsible for the Federal Reserve's financial market operations, pointed out that the trading department of the New York Fed conducted a "currency check" on the USD/JPY exchange rate, after which the dollar significantly depreciated. After the release of the meeting minutes, the USD/JPY briefly plummeted over 40 points, reaching a low of 154.33.

According to Jinshi reports, the CICC research report states that in the short term, Walsh's nomination has limited impact on the interest rate cut path, but it may lead to a revision of expectations for dollar liquidity, and the pressure for dollar depreciation may temporarily ease.In the medium term, Walsh's claims face constraints from within the Federal Reserve, capital markets, and fiscal policies, and it is still difficult to conclude whether he will ultimately succeed. Investors should prepare in advance and be ready.

According to Jinshi reports, the dollar exchange rate fell during Thursday's Asian session, halting the rebound momentum from Wednesday. Concerns about a potential depreciation of the dollar have resurfaced, outweighing the influence of U.S. Treasury Secretary Yellen's reaffirmation of a strong dollar policy. Damien Loh, Chief Investment Officer of hedge fund Ensemble Capital, stated that Yellen employed "strategic ambiguity" when discussing the dollar, attempting to ease market expectations of a comprehensive weak dollar policy.

According to Jinshi reports, the European Central Bank's meeting minutes indicate that due to the possibility of the U.S. monetary policy stance being more accommodative than expected, there is a risk of depreciation for the dollar.

According to Cointelegraph, Telegram's revenue in the first half of 2025 reached $870 million, a 65% increase year-on-year, with approximately $300 million coming from "exclusive agreements" related to Toncoin. However, due to Toncoin's value plummeting by 69% this year, the company was forced to write down the value of its cryptocurrency holdings, resulting in a net loss of over $220 million. Additionally, Telegram's $500 million bonds in Russia have been frozen due to Western sanctions. Despite the challenges, Telegram still plans to achieve its annual revenue target of $2 billion and is considering an IPO after progress in CEO Durov's investigation in France. The company has sold approximately $450 million of Toncoin, accounting for about 10% of its market value.

According to Jinshi News, Morgan Stanley stated that investors should seek protection against dollar depreciation early rather than delaying. As investors reassess the neutral level of the Federal Reserve's fund rate and increase hedging, the dollar may face downside risks.

ChainCatcher news, according to Cointelegraph, BlackRock CEO Larry Fink stated that investors are turning to gold and cryptocurrencies due to concerns that their assets may depreciate amid increasing attention to global financial stability.Fink said at the Future Investment Initiative (FII) conference in Saudi Arabia, "Holding crypto assets or gold is a fear-based asset." He added, "You hold these assets because you are afraid of asset depreciation."

According to ChainCatcher news, as reported by Jin10, Huatai Securities' research report indicates that the tariffs are expected to moderately push up core inflation in the U.S. in the third quarter, and there are differences in the market regarding the magnitude and duration of the inflation rise. The Federal Reserve is highly likely to restart the interest rate cut cycle in September. Although inflation is expected to rebound in the third quarter, it is anticipated to have limited constraints on the Fed's interest rate cuts in 2025. In the short term, the rebound in inflation will have a limited impact on U.S. Treasury yields, but after the implementation of the "Big and Beautiful" bill, U.S. Treasury yields will still face pressure. Huatai Securities maintains the view that the U.S. dollar will face depreciation pressure in the medium to long term.

ChainCatcher news, GameStop CEO explains why the company purchased over $505 million in Bitcoin, stating, "BTC can hedge against global currency devaluation."Previous report, according to the official announcement, GameStop announced the purchase of 4,710 BTC.

ChainCatcher message, due to the Trump administration's tariff policy potentially undermining America's economic exceptionalism and weakening the dollar, the demand for hedging against potential dollar depreciation has surged to a five-year high. Institutional data shows that the three-month risk reversal index measuring the dollar against 12 major currencies (i.e., the spread between call options and put options) has fallen to its lowest level since the peak of the global pandemic in March 2020.The indicator dropped below zero for the first time in five years last Friday, indicating that the demand for put options benefiting from a weaker dollar exceeds that for call options benefiting from a stronger dollar. "The market's aversion to holding dollars remains dominant," said Chris Weston, head of research at Melbourne's Pepperstone Group Ltd. "The questions people have about the dollar are not just a one-day issue, but rather a potential significant structural change."