Macro Data onchain & Kanye's Token Crash: The Daily Updates

The following article is adapted from The Block’s newsletter, The Daily, released every weekday afternoon. Happy Thursday! Analysts suggest bitcoin is teetering on a "knife-edge" amid expectations of key macroeconomic events, despite solid long-term fundamentals. In today's newsletter, the U.S. government begins to release essential macroeconomic data on public blockchains, Kanye West's YZY token crash has left 50,000 wallets in the red, Solana’s recent upgrade proposal is heading into voting, and much more. Additionally, Federal Reserve Governor Lisa Cook is suing President Trump amid rising tensions within the central bank. Let’s dive in. P.S. Don’t forget to check out The Funding for a biweekly overview of crypto VC trends. It’s informative and, like The Daily, it’s free to subscribe! **US Govt Posts Macroeconomic Data on Blockchains** The U.S. government has started publishing crucial macroeconomic data, including GDP and PCE figures, on public blockchains for the first time, following hints from Commerce Secretary Howard Lutnick earlier this week. **Kanye West's YZY Token Crash Leaves Many Wallets in Loss** Over 50,000 wallets, representing nearly 74% of traders, incurred losses from Kanye West’s Yeezy Money token, with total losses exceeding $74.8 million after YZY's post-launch price drop, as reported by Bubblemaps. **JPMorgan Declares Bitcoin Price ‘Too Low,’ Predicts $126K Upsurge by Year-End** Analysts from JPMorgan have asserted that bitcoin’s current value is “too low” relative to gold, citing significantly reduced volatility, and foresee its “fair value” reaching $126,000 by year-end. **Solana Seeks 150-Millisecond Finality with Alpenglow Upgrade Voting** The proposed Alpenglow upgrade for Solana has entered the voting phase, targeting a shift from the existing consensus mechanism to a quicker and more robust architecture. **Polymarket Bets on Bitcoin Remaining Below $100,000 by 2026** Most bettors on Polymarket anticipate bitcoin will not exceed $100,000 by year-end, although this probability has reduced from 72% to 61% earlier this week. **In the Next 24 Hours** Stay updated with The Block’s daily digest covering the pivotal events within the digital asset ecosystem. **Disclaimer:** This article was produced with support from OpenAI’s ChatGPT and has been reviewed by our editorial team. **Disclaimer:** The Block is an independent media platform providing news, research, and data. Since November 2023, Foresight Ventures has been a majority investor in The Block, which also! invests in various companies in the crypto space. Crypto exchange Bitget serves as an anchor LP for Foresight Ventures. The Block operates independently to deliver objective and timely updates regarding the crypto sector. Here are our current financial disclosures. © 2025 The Block. All rights reserved. This article is for informational purposes and does not constitute legal, tax, investment, or financial advice.