US Treasury Secretary Scott Bessent says banks and crypto may begin to offer similar products, and pledged to prevent deposit flight concerns that are stalling a key crypto bill. US Treasury Secretary Scott Bessent has told Congress that traditional and crypto banking products and services may be more intertwined in the future. Appearing before the…
Read more
Crypto market sentiment has slumped to its lowest level in over three and a half years amid Bitcoin falling by double-digit percentage points to a low of around $60,000. The Crypto Fear & Greed Index fell to a score of 9 out of 100 on Friday, indicating “extreme fear” in the market and hitting its…
Read more
The Coinbase Premium Gap, a metric used to estimate demand for Bitcoin from institutional investors relative to retail investors, has fallen to its lowest level in over a year — signaling a potential sell-off by professional investors, according to an analyst. The Coinbase Premium is the price difference between Coinbase’s BTC/USD pair and Binance’s BTC/USDT…
Read more
Some crypto companies have proposed giving community banks a bigger stablecoin role as Senate negotiations stall over the contentious market structure bill. Crypto companies are reportedly floating concessions relating to stablecoin yields in an attempt to unfreeze the delayed crypto market structure bill. The legislation passed the House but has stalled in the Senate as…
Read more
Spot crypto trading volumes on major exchanges have fallen from around $2 trillion in October to $1 trillion at the end of January, indicating “clear disengagement from investors” and weaker demand, according to analysts. Bitcoin (BTC) is currently down 37.5% from its October peak amid a liquidity drought and a major bout of risk aversion,…
Read more
Bitcoin is trading below the average cost basis of US spot Bitcoin ETFs after they recorded their second and third-biggest outflow weeks last month, according to Galaxy’s head of research, Alex Thorn. The total assets under management for US Bitcoin ETF products are approximately $113 billion, according to Coinglass, and they collectively hold around 1.28…
Read more
Bitcoin has fallen to a nine-month low of $81,000, causing billions in liquidations over the past day as escalating tensions in the Middle East and US President Donald Trump’s fresh threats of tariffs caused traders to sell off. Bitcoin (BTC) fell to a low of $81,058 on Coinbase in early trading on Friday, its lowest…
Read more
The United States Securities and Exchange Commission has released new guidance on tokenized securities, breaking the assets into two categories as it provides more clarity for companies entering the space. The SEC’s statement on tokenized securities, released on Wednesday, defines the assets as issuer-sponsored or third-party sponsored tokenized securities. “Tokenized securities generally fall into two…
Read more
High Bitcoin options volumes indicate there is still significant interest and capital present in crypto derivatives markets, according to derivatives exchange Deribit, but risk is now being carefully managed, which could explain Bitcoin’s recent price movements. Bitcoin trading near $90,000 right now “looks a lot clearer when you view it through positioning rather than just…
Read more
Bitcoin could break out of its “sideways funk” if the United States central bank attempts to support a failing Japanese bond market by printing money, according to BitMEX founder Arthur Hayes. Hayes proposed a theory on Wednesday about how the Federal Reserve “could be printing money to manipulate the yen and JGB [Japanese government bond]…
Read more