🇬🇧 The UK Treasury is preparing new legislation to regulate crypto in the same way as traditional financial products, with rules expected to come by 2027. Crypto firms will be brought into the regulatory perimeter and overseen by the Financial Conduct Authority. $BTC $ETH

Valuation pressure on Bitcoin treasury companies is mounting, with about 40% of the top 100 firms now trading below the net asset value of their Bitcoin holdings. Macro analyst Alex Kruger likened the model to the pre-collapse premium of Grayscale Bitcoin Trust in 2020, calling