Crypto news

The stalled CLARITY Act isn’t just a crypto issue; it’s caught in a broader political struggle. Republican disagreements on issues like surveillance laws, the budget, and foreign policy are taking up all the attention in Congress that this important crypto bill needs to pass in the next few weeks. While these other debates aren’t directly about cryptocurrency, they will ultimately decide whether or not the crypto legislation moves forward.

As an analyst tracking cryptocurrency movements, I noticed a significant transaction on Wednesday. Tether, the company behind the USDT stablecoin, transferred 951 Bitcoin – roughly $70.47 million worth – from the Bitfinex exchange to its own Bitcoin reserve. This indicates they’re bolstering their reserves with Bitcoin.

On Wednesday, Legal & General Asset Management jubilantly announced the grand entrance of its liquidity funds into the blockchain ballpark, flaunting more than £50 billion (approximately $68 million, if you’re keeping score) through an innovative distribution channel conjured by Calastone.

So, here’s the scoop: Tether, the wily wizard behind the world’s biggest stablecoin, USDT, just couldn’t resist adding yet another $70 million worth of bitcoin to its ever-growing stash. It’s all part of a cunning strategy tied to its stablecoin escapades.

In a country where the coffee is strong and the spreadsheets even sturdier, a staff paper from Danmarks Nationalbank confirms that only a sliver-4%-of Danish citizens own crypto assets, and most of those wallets contain less than DKK 10,000. Don’t panic, the universe has not decided to collapse into a spreadsheet-shaped crater just yet.

Ted Pillows-still can’t get over that name-hits Twitter (or is it X? Who cares?) to declare Solana treasury companies are basically “Solana memecoins.” Down 80% to 90%? Yeah, that’s not a dip, that’s a nosedive into the Mariana Trench. And he’s like, “Oh, but it could go lower!” Thanks, Ted. Real helpful.

We’ve shared a new proposal on the forum for the community to discuss. We think this proposal is a strong step towards building a healthy and sustainable system for the future of our project, and sets a great example for how things should be done in the decentralized finance (DeFi) space.

Here’s a breakdown of what the proposal covers:

According to the ever-so-serious crypto analyst, Michaël van de Poppe (a name that sounds like it belongs to a Dutch explorer, not a financial guru), the war is sending the markets into a spin. He declares, with all the gravitas of a man who’s just discovered fire, that if this conflict persists, our beloved cryptocurrencies shall be left in the dust. However, he then proceeds to inform us that the U.S. economy is as weak as a kitten with a cold, and the Fed must resort to printing money like confetti at a carnival. How delightful for these “risk assets,” as he so quaintly puts it.

A leading core Bitcoin developer said he would rather see the estimated 5.6 million bitcoin he believes to be lost frozen by the network than risk them falling into the hands of future quantum hackers.

The question now isn’t *if* Bitcoin has bounced back to a key support level, but whether this recovery is strong enough to suggest it will reach $90,000. We need to see if it’s a genuine upward trend backed by real market data and overall economic conditions, or just a temporary price increase that won’t last.