Crypto markets posted mixed performance, with Bitcoin at $84,148, down 2.16%, and Ether at $2,654, down 3.26%, amid quarterly options positioning. Total crypto market capitalization stood at $2.91 trillion, while 24-hour trading volume reached $111.09 billion. LayerZero's ZRO rose 16.86% after Anchorage Digital selected it as an interoperability partner for bank-issued stablecoins, and Pudgy Penguins' PENGU gained 9.03% following a Visa and KAST co-branded card launch. Lighter's LIT also reached a record high as institutional liquidity entered its decentralized exchange. Macro conditions remained important: Brazil cut rates for a fifth time, Indonesia held rates steady, the U.S. dollar index reached a two-month high, and oil prices fell on reported U.S.-Iran diplomatic progress. Regulatory developments included new U.S. trust bank charters, tighter warnings over event-contract manipulation, proposed changes to EU stablecoin liquidity rules and Brazil's coming ban on regulated eFX providers using stablecoins for cross-border settlements. Institutional activity included Galaxy Digital's purchase of $100 million of Sky Protocol's sUSDS, Strategy's acquisition of 950 BTC, continued inflows into U.S. spot Bitcoin ETFs and large ETH transfers by FTX/Alameda and Bitmine Immersion Technologies.