Category: Bitcoin News

The shutdown of the US government entered its 38th day on Friday, with the Senate set to vote on a funding bill that could temporarily restore operations. According to the US Senate’s calendar of business on Friday, the chamber will consider a House of Representatives continuing resolution to fund the government. It’s unclear whether the bill will cross the 60-vote threshold needed to pass in the Senate after numerous failed attempts in the previous weeks. Amid the shutdown, Republican and Democratic lawmakers have reportedly continued discussions on the digital asset…

Japan’s financial regulator, the Financial Services Agency (FSA), endorsed a project by the country’s largest financial institutions to jointly issue yen-backed stablecoins. In a Friday statement, the FSA announced the launch of its “Payment Innovation Project” as a response to progress in “the use of blockchain technology to enhance payments.” The initiative involves Mizuho Bank, Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, Mitsubishi Corporation and its financial arm and Progmat, MUFG’s stablecoin issuance platform. The announcement follows recent reports that those companies plan to modernize corporate settlements and reduce transaction…

Bitcoin’s price may decline by almost 50% if its current downward trend over the past month continues, says a traditional finance analyst. However, onchain analytics firm Glassnode suggested that Bitcoin’s (BTC) current downtrend may not be as severe as some market participants believe. Bloomberg analyst Mike McGlone said in an X post on Thursday that Bitcoin hitting $100,000 could be “a Speed Bump Toward $56,000.” “My look at the chart shows how normal it’s been for the first-born crypto to revert to its 48-month moving average, now around $56,000, after…

Key takeaways: Over 21,000 new XRP wallets were created in 48 hours, the fastest growth in eight months. Record decentralized exchange transactions coincided with XRP’s price weakness, hinting at non-organic activity. Whale wallet outflows have stabilized after $650 million in selling, suggesting a potential bottom formation for XRP. XRP (XRP) closed Tuesday’s daily candle at $2.20, its lowest level since July 4, before rebounding by 16% to $2.40 from the monthly lows of $2.06 on Thursday. Despite the relief rally, the altcoin continued to struggle to regain bullish dominance, as…

Coinbase executives are urging US lawmakers to view stablecoin and market structure bills as interconnected pieces of a broader crypto regulatory framework, as Congress continues to deliberate over industry rules. Speaking to Cointelegraph at the Blockchain Futurist Conference on Thursday, Coinbase Chief Business Officer Shan Aggarwal weighed in on how a market structure bill could affect US markets. According to Aggarwal, both the market structure currently being considered in the US Senate — called CLARITY when it passed the House of Representatives — and the GENIUS stablecoin bill passed in…

The US Federal Reserve’s decision to ease monetary policy is inflating an economic bubble that could drive up the prices of hard assets, but also marks the final phase of a 75-year economic cycle, according to former hedge fund manager Ray Dalio. Typically, the Federal Reserve eases interest rates when economic activity is stagnating or declining, asset prices are falling, unemployment is high and credit dries up, as seen during the Great Depression of the 1930s or the 2008 financial crisis, Dalio wrote in an article posted to X on…