However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated. There is also speculation that the US Senate will pass stablecoin legislation this week. This comes after Senator Bill Hagerty announced that the Senate is ready to pass the GENIUS Act. “It’s not going away, it’s going to be part of a lot of portfolios, even if it’s just 2-3%,” said Wedbush Securities finance group managing director Dan Ives. “It’s still a risky asset, but the deregulatory environment has changed the way people view crypto as an investment.”
The passage of a U.S. stablecoin bill could be one of the most important regulatory developments in the history of crypto, the report said. The GENIUS Act — a bill to regulate stablecoins — cleared a key procedural vote in the Senate. With 15 Democrats voting for the bill to pass the cloture threshold this week, the proponents have the votes necessary to avoid a filibuster. Traders are rotating into major altcoins like XRP and Solana’s SOL as bitcoin https://ai-robert.com/ consolidates near its record highs. After feeling unfairly targeted by the Biden administration, the industry has quickly become a dominant political force, donating huge sums to help Trump and crypto-friendly lawmakers.
What Binance Open Interest Says About Bitcoin Moves
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- Citi predicts stablecoin supply to hit $1.6T-$3.7T by 2030, driving Bitcoin to $190K-$475K.
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Coinbase is facing backlash over its data breach, which new details show affected more than 69,000 users in total. Bitcoin Pizza Day marks the first real-world Bitcoin purchase, showing how 10,000 BTC for pizzas in 2010 is now worth over $1.1 billion. FIFA teams up with Avalanche to launch a new EVM blockchain, boosting speed and scalability for its digital collectibles platform. Fifteen years ago, Laszlo Hanyecz started Bitcoin Pizza Day by purchasing two pizzas with 10,000 BTC, a sum worth more than $1 billion today. Users of the KAS-wKAS bridge in the Chainge project have found their withdrawal transactions trapped as promises from the team are not met.
Bitcoin to USD Chart
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The market reaction also followed Moody’s decision to downgrade the US credit outlook last Friday. Surging bond yields triggered renewed selling pressure across US assets, with stocks, the dollar and Treasuries all falling on Wednesday. Latest crypto news today, analysis, and investment verdicts on Bitcoin, Dogecoin, Ripple, Diem, Ethereum, Monero, Litecoin, Dash, NEM and more cryptocurrencies.
A hard fork is a radical change to the protocol that makes previously invalid blocks/transactions valid, and therefore requires all users to upgrade. For example, if users A and B are disagreeing on whether an incoming transaction is valid, a hard fork could make the transaction valid to users A and B, but not to user C. Mining Bitcoins can be very profitable for miners, depending on the current hash rate and the price of Bitcoin.
“Proud to support President Trump’s pro-crypto vision.” Xia wrote in both English and Chinese on social media. “I’m excited to connect with everyone, talk crypto, and discuss the future of our industry,” Sun said. Republicans and Democrats had continued negotiating after the bill initially failed to advance, resulting in a new amendment draft over the weekend that garnered enough support among Democrats to move the package forward. This is the first real bull market where institutional participation is front and centre,” said Josh Gilbert, market analyst at eToro Australia.
FIFA To Build EVM Blockchain In Partnership With Avalanche
But that’s also served to tether the industry — sometimes uncomfortably — to a president who is using crypto as a platform to make money for his brand in unprecedented ways. “Many senators, myself included, have very real concerns about the Trump family’s use of crypto technologies to evade oversight, hide shady financial dealings, and personally profit at the expense of everyday Americans. We have a duty to shine a light on these abuses and stop Donald Trump from exploiting emerging technologies to enrich himself, dodge accountability, and weaken the safeguards that protect American consumers and the rule of law,” noted Warner. His sons are involved in crypto ventures that are reportedly exploring financial deals with major crypto companies as well as foreign-backed entities. Trump’s launch of his meme coin sparked controversy even within the crypto industry, which sees it as a distraction that could undermine the credibility of the industry.