CoinDesk Podcast Network U.S.-China Tariff Talks Set for Weekend Triggers $97K BTC | COINDESK DAILY
May 7, 2025
A potential U.S.-China trade deal is causing excitement, pushing Bitcoin's price towards $97,000. As optimism grows, the Nasdaq and S&P 500 are also seeing gains. Ethereum's Pectra upgrade is making waves in the crypto world, while New Hampshire takes a pioneering step with its new crypto reserve law. These developments are reshaping the landscape of cryptocurrency investment!
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Trade Talks Boost Crypto & Stocks
- Optimism about a potential U.S.-China trade deal sent Bitcoin close to $97,000 and boosted major U.S. stock indexes.
- U.S. Treasury Secretary Scott Besant plans talks in Switzerland, marking a hopeful shift on tariffs.
Ethereum's Stake Increase Upgrade
- Ethereum's Pectra upgrade increases max validator stake from 32 ETH to 2048 ETH to improve efficiency.
- Larger stakes reduce validators needed and operational costs, potentially boosting decentralization.
NH Leads U.S. Crypto Reserve Effort
- New Hampshire became the first U.S. state to authorize a strategic crypto reserve, allowing up to 5% of public funds in digital assets.
- The law aims to embrace innovation and diversify against inflation, starting primarily with Bitcoin.