US-based investment bank Jefferies, in its report prepared for large institutional investors, likened the development stage of the cryptocurrency market to the internet era in 1996. The bank argued that the sector still has ample room for growth. Analysts say an excessive focus on Bitcoin prices could overlook the disruptive potential of blockchain technology across
One of the most controversial features of President Donald Trump’s second term is his relentless criticism of Federal Reserve (Fed) Chair Jerome Powell for maintaining elevated interest rates – a stance Trump argues is unnecessarily costly to the American economy. But this is more than just rhetoric. Trump is aggressively attempting to undermine the Fed’s
Stablecoin adoption is gaining momentum among corporates and financial institutions driven by regulatory clarity and cost-savings in global money transfers, according to a survey by EY-Parthenon. Conducted with 350 executives in June after the Senate passed the GENIUS Act, the survey found that 13% of firms already use stablecoins, mainly for cross-border payments. Among those
YZi Labs, the family office founded by Binance co-founder Changpeng “CZ” Zhao and Yi He, which was rebranded from Binance Labs, has expanded its position in Ethena Labs, the protocol behind USDe, which has become the third-largest U.S. dollar-denominated crypto asset with more than $13 billion in circulation. The investment comes as Ethena enters a
Long-end Treasury yields went up this week, even though the Fed cut interest rates. That move surprised the bond market. The 10-year Treasury yield, which had dipped below 4%, jumped to 4.145%. The 30-year yield, the one that matters for mortgages, rose to 4.76%, after hitting a weekly low of 4.604%. The Fed lowered its
BitMEX co-founder Arthur Hayes argued that cryptocurrency markets will enter bullish mode again after the US Treasury Department increased the General Account (NGA) balance to $850 billion. Hayes, in a statement Friday, stated that the opening balance of the TGA has surpassed $807 billion, adding, “The TGA is almost complete, the target is $850 billion.
Sergey Nazarov recently stated that the U.S. Securities and Exchange Commission is shifting its stance on the crypto market. He views tokenization as the bridge between crypto and real-economy growth, but there’s still work to do in turning that potential into reality. Joe Biden was the 46th president of the United States of America. Under
Strategy’s stock dropped 4% over the past month, even as Bitcoin rose 3%, raising fresh questions about Michael Saylor’s multi-billion-dollar crypto play. Since 2020, the company has been buying bitcoin using a mix of borrowed money and new shares. That pivot pushed the software firm into the spotlight as a bitcoin-heavy operation. The stock had
The 25 basis point interest rate cut recently implemented by the FED has had a great impact on global markets, while also bringing with it concerns, particularly regarding cryptocurrency markets. Bloomberg Intelligence Senior Macro Strategist Mike McGlone argued on the “Milk Road Macro” podcast that markets are living in a “fantasy world” and that investors
The Federal Reserve finally trimmed rates—and bitcoin basically yawned, according to Coinshares’ Head of Research James Butterfill, who says traders want proof this is a real pivot, not a polite tap on the brakes. Butterfill: Rate Cut Hype Fades; Bitcoin Waits for Real Pivot Signal Bitcoin (BTC) has treaded water for three months while volatility