Category: crypto

Last year, crypto enthusiasts celebrated Trump’s potential return to the White House, but now face reality as the Senate Banking Committee delayed discussion on a stablecoin bill, causing outrage among digital asset firms. The bill may ban stablecoin yield, leading to a market downturn and concerns about regulation readiness.

State Street Corp., a traditional finance stalwart, is expanding into digital assets with a platform for tokenized deposits, stablecoins, and crypto-backed funds for institutional clients. Partnering with Galaxy Digital, the Boston-based custodian aims to offer regulated access to digital assets in response to increasing interest from large financial institutions.

Democratic lawmakers criticized the SEC for dropping enforcement of U.S. securities laws against major cryptocurrency firms under Trump’s administration. They raised concerns about political influence, particularly on cases involving companies that donated to Trump. Lawmakers singled out Justin Sun’s case and urged the SEC to clarify its decision-making process.

Binance’s spot share dropped to 25% in December, its lowest since January 2021, while derivatives dominance halved to about 35%, indicating a long-term shift. Offshore exchanges like Bybit and on-chain platforms like Hyperliquid are gaining traction, prompting Binance to make management changes and obtain licenses to compete.

DeFi protocols are moving away from Discord due to security concerns related to scams, phishing, and breaches. Morpho is transitioning to a ticketed support system, while DefiLlama and others are favoring live chat and email tickets. Discord’s vulnerability to scams was highlighted by a Zendesk breach that exposed sensitive user data.

ARK’s Q4 report showed that Coinbase was the biggest detractor due to a drop in spot volumes and liquidation events. Winners included AMD, Shopify, and Rocket Lab. Coinbase is pivoting to become an “everything exchange” with new offerings. Goldman Sachs upgraded Coinbase to a Buy rating, citing growth potential.

Gold and silver have reached all-time highs as investors shift away from sovereign debt. Bitwise research suggests a potential delayed Bitcoin rally in the next 4-7 months. Gold is seen as a leading indicator for Bitcoin, with institutional capital moving from gold to Bitcoin after risk appetite stabilizes. Traders are anticipating high-strike BTC calls and…

Trump says he has no current plan to fire Federal Reserve Chair Jerome Powell, but leaves the door open based on a Justice Department investigation and rising inflation. Trump signals that the investigation could impact Powell’s position. Powell has accused the administration of using the investigation to influence interest rate policy.

The Senate Banking Committee postponed a cryptocurrency market structure bill markup after Coinbase withdrew support. Wall Street banks opposed stablecoin yield provisions, Democrats clashed with the White House over ethics rules, and partisan splits complicated the process. The Agriculture Committee will now consider a parallel bill. Talks continue with stakeholders.

Wyoming introduces the Frontier Stable Token on Solana, with Franklin Templeton managing reserves and Fiduciary Trust as custodian. Interest on reserves will fund state school programs. The token offers fast settlement, low fees, and transparency under state regulation. It can bridge to major EVM chains through LayerZero. Available on Kraken.