Everything web3, crypto, defi, degen
In brief U.S. Treasury Secretary Scott Bessent said Thursday that the U.S. government will not be buying additional Bitcoin to supplement reserves of the token acquired via law enforcement seizures. For months, White House officials had stoked the hopes of Bitcoiners by saying they wanted to acquire as much of the cryptocurrency “as possible.” But…
In brief Bitcoin surged to a record high above $124,000 as traders bet on a September U.S. rate cut, with odds exceeding 90%. Analysts cite strong order book dynamics, renewed buying pressure, and a favorable regulatory climate under the Trump administration as key drivers. Ethereum and XRP also advanced, though some warn markets may be…
Bitcoin hit another all-time high price mark on Wednesday as a increasingly favorable macro environment pushes traders to take more risk. And Ethereum might be following right behind.The leading cryptocurrency hit a new peak price of $122,882 on Wednesday afternoon, beating its previous July record of $122,838, CoinGecko data shows.Stocks also soared to close in on…
The momentum has shifted in the yearslong battle between top crypto companies and protocols and the U.S. Securities and Exchange Commission under the new Trump administration. The regulator, which now has a crypto-friendly chairman in Paul Atkins and a crypto task force led by longtime industry advocate Hester Peirce, is moving away from what Pierce and…
In brief XRP is a cryptocurrency developed to facilitate efficient cross-border transactions, particularly for financial institutions and payment providers. The XRP Ledger employs a unique consensus protocol called the Ripple Consensus Algorithm to validate transactions. A long-running legal dispute between Ripple Labs and the U.S. SEC over whether sales of XRP constituted a unregistered securities…
In brief Andreessen Horowitz and the DeFi Education Fund have requested the SEC create a safe harbor to shield dapp developers from being labeled broker-dealers. The recommendations would enable certain centralized entities retaining control over a crypto app to gain safe harbor if they have demonstrated “good faith to decentralize.” The proposal follows SEC chair…
In brief Treasury Secretary Scott Bessent urged the Fed to consider a 50bps cut in September after weak job revisions and soft inflation data. July inflation came in at 2.7% year-over-year, slightly above expectations but reinforcing hopes for looser policy. Crypto markets rallied, with Ethereum hitting multi-year highs as traders priced in deeper rate cuts.…
In brief Circle shares popped over 11% in pre-market trading Tuesday after a bullish Q2 earnings report. The report also included news that the company plans to launch its own blockchain, Arc, in the fall. However, Circle also posted a quarterly loss of $482 million, which the company said was incurred almost entirely by IPO-related…
In brief The Consumer Price Index rose 2.7% in the 12 months through July. Tuesday’s inflation reading was cooler-than-expected. September rate cut odds slightly fell after the release. The price of Bitcoin and other cryptocurrencies rose Tuesday after a widely watched inflation gauge showed that U.S. consumer prices rose less than expected in July.The Consumer Price…
In brief Jeff Bezos’ Blue Origin is accepting cryptocurrency payments for flights to space. Crypto holders can use Bitcoin, Ethereum, and Solana to snag their seat on the firm’s New Shepard spacecraft. Crypto payments are facilitated by global payments firm, Shift4. Amazon founder Jeff Bezos’ rocket and space exploration firm Blue Origin is now accepting…
