FTX Creditors to Receive $1.6B Payout Beginning September 30
The FTX Recovery Trust, which manages the assets of the collapsed crypto exchange, revealed plans for a fresh round of repayments totaling around $1.6 billion. This marks the third scheduled distribution since reimbursements began earlier this year. According to the announcement made Friday, payments will commence on September 30, with creditors expected to see the […]
Michigan Advances Strategic Crypto Reserve Legislation
Michigan is moving forward with its proposal to create a state-level cryptocurrency reserve. On Thursday, House Bill 4087 progressed to a second reading and was directed to the Committee on Government Operations. The measure, which updates the Michigan Management and Budget Act, outlines how the state could establish a “strategic crypto reserve.” While the text […]
XRP and Dogecoin ETFs Break Records With $54.7M in Opening-Day Trades
Two newly launched spot exchange-traded funds (ETFs) tied to XRP and Dogecoin made an explosive entrance into U.S. markets on Thursday, racking up a combined $54.7 million in trading activity within their first day. The REX-Osprey XRP ETF (XRPR), listed on the Cboe exchange, dominated the debut with $37.7 million in volume, according to Bloomberg’s […]
PayPal Expands PYUSD Stablecoin Across Tron, Avalanche, and More Networks
PayPal is significantly widening the reach of its PayPal USD stablecoin (PYUSD), rolling it out to eight additional blockchains. Seven of these come through a collaboration with LayerZero’s Stargate Hydra bridge. As part of the expansion, a permissionless version called PYUSD0 will be launched. According to LayerZero, PYUSD0 will remain fully interchangeable with PYUSD and […]
Is Solana Setting Up Like BNB? Price Action Hints at New Highs
Solana (SOL) could be on the verge of a breakout, with chart patterns suggesting a 20% upside in the short term. Market watchers have noticed that Solana’s trajectory over the past year closely mirrors that of Binance Coin (BNB), which recently blasted to new record levels. According to data highlighted this week, both assets have […]
SEC Greenlights First Multi-Asset Crypto ETP in the US, Led by Grayscale
The U.S. Securities and Exchange Commission (SEC) has given the go-ahead for the country’s first cryptocurrency exchange-traded product (ETP) that includes multiple digital assets. The approval allows Grayscale’s Digital Large Cap Fund (GLDC) to begin trading, offering investors exposure to a basket of leading cryptocurrencies. The fund will track five major tokens: Bitcoin (BTC), Ether […]
Crypto fans unveil giant golden Trump Bitcoin statue near U.S. Capitol
A group of memecoin enthusiasts made headlines in Washington, D.C., on Wednesday after installing a towering golden statue of President Donald Trump holding a Bitcoin outside the U.S. Capitol. The display, part of a Pump.fun livestream campaign, was intended as a tribute to the crypto-friendly president. The 12-foot (3.6-meter) structure was placed near Union Square […]
Fed Cuts Rates by 25bps as Bitcoin Hovers Above $115K
Bitcoin is attempting to stabilize above the $115,000 mark after the U.S. Federal Reserve delivered a quarter-point interest rate cut, setting the federal funds rate between 4.0% and 4.25%. The immediate reaction across crypto markets has been subdued, with investors digesting the central bank’s more cautious outlook. BTC briefly dipped under $115,000 before recovering, with […]
US Lawmakers Hold Talks with Crypto Leaders on Bitcoin Reserve and Market Structure Legislation
This week, members of Congress sat down with executives from the cryptocurrency sector to discuss two major policy initiatives: the creation of a strategic Bitcoin reserve and new frameworks for digital asset market structure. On Tuesday, Alaska Representative Nick Begich and Ohio Senator Bernie Moreno joined a roundtable meeting with prominent figures in the industry, […]
Binance in Talks With DOJ Over Potential End to Compliance Monitor
Binance is reportedly negotiating with the U.S. Department of Justice (DOJ) to ease conditions from its 2023 settlement, specifically the requirement for oversight by an independent compliance monitor. If successful, this could significantly reduce the regulatory pressure the exchange has faced over the past two years. Citing sources close to the matter, Bloomberg reported that […]