In a stunning reversal, President Donald Trump who once called Bitcoin a “scam” has delivered one of his most direct endorsements of cryptocurrency yet. He is now calling the traditional financial system “broken” and arguing that digital assets offer a “solution.” This dramatic change of heart coincides with a flurry of pro-crypto policy actions and
Federal prosecutors in New York are pursuing fraud charges against the former CEO of a crypto-powered casino, claiming the 39-year-old gambled away investors’ cash. The U.S. Justice Department recently charged former Zero Edge CEO Richard Kim with securities and wire fraud for allegedly diverting $3.8 million worth of seed round funding to himself for personal
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
As tokenized real-world assets surpass $25 billion in value, a new accelerator backed by Galaxy, OKX, and Anchorage aims to prepare startups for institutional scale. Summary As tokenized RWAs top $25.5 billion, a new accelerator backed by Galaxy, OKX, and others is launching to support early-stage startups building for institutional scale. Called Ascend, the program
Wall Street was upbeat at Wednesday’s open as stocks climbed to extend their winning streak, with the S&P 500 hovering at record highs and top altcoins leading the latest crypto rally. Summary Stocks rose on Wednesday to extend gains, with S&P 500 and Nasdaq edging higher after hitting record highs. Wall Street is bullish on
Former Dallas Fed President and Goldman Sachs Vice Chairman Robert Kaplan said the Fed is likely to cut interest rates in September. Kaplan stated that weak employment data and slowing demand supported this decision. Kaplan argued that while the current unemployment rate appears strong on the surface, the labor market is actually weaker. “Employment growth
Donald Trump’s dismissal two weeks ago Bureau of Labor Statistics Commissioner Erika McEntarfer and nomination of EJ Antoni as her replacement is generating plenty of “inside baseball” chatter among the political class. But did the president — as uncouth and ham-handed as his methods are — stumble upon a truth that was hiding in plain
Shares of crypto exchange Bullish (BLSH) soared to $102 in initial trades on Wednesday, their first day of action on the New York Stock Exchange. The company priced its initial public offering (IPO) at $37 per share, above the expected $32 to $33 range. That price valued the Cayman Island-based crypto exchange at a total