Latest news with #StablecoinBill
Bloomberg
2 days ago
- Business
- Bloomberg
Major Win for the Crypto Market
Crypto-linked stocks get a boost after Congress passes the Stablecoin Bill. Bo Hines, the President's Council of Advisers for Digital Assets Executive Director joined Bloomberg Open Interest. He says this regulatory win will pave the way for the US to become the crypto capital of the world. (Source: Bloomberg)
Bloomberg
3 days ago
- Business
- Bloomberg
Bloomberg Surveillance TV: July 18th, 2025
- Christopher Waller, Member-Board of Governors at the Federal Reserve - Paul Atkins, Chairman of the SEC - Peter Oppenheimer, Chief Global Equity Strategist at Goldman Sachs - Sonal Desai, CIO: Fixed Income at Franklin Templeton Christopher Waller, Member-Board of Governors at the Federal Reserve, joins for a discussion on Fed rate cuts and Fed independence. Paul Atkins, Chairman of the SEC, discusses regulation and the recent Stablecoin bill. Peter Oppenheimer, Chief Global Equity Strategist at Goldman Sachs, talks about the outlook for global and US equities amid an uncertain inflation and policy path. Sonal Desai, CIO: Fixed Income at Franklin Templeton, discusses warnings signals from the bond market.
Bloomberg
3 days ago
- Business
- Bloomberg
Crypto Industry Gets Big Win With Stablecoin Bill
"Balance of Power: Late Edition" focuses on the intersection of politics and global business. On today's show, Joseph Lavorgna, Counselor to Treasury Secretary Scott Bessent, shares his thoughts on the House passing the Stablecoin Bill. Port of Los Angeles Executive Director, Gene Seroka, discusses what he is learning from the behavior of importers as the Trump tariff deadline is only a few weeks away. Rep. Debbie Dingell (D) Michigan voices her concerns over the Rescissions package and states its passing will create some 'serious harm.' (Source: Bloomberg)
Bloomberg
3 days ago
- Business
- Bloomberg
'Incredible Innovation:' Lavorgna on Stablecoin Passing
Joseph Lavorgna, Counselor to Treasury Secretary Scott Bessent, shares his thoughts on the House passing the Stablecoin Bill and whether or not traditional financial institutions should worry about competition from cryptocurrency. He also discusses the Federal Reserve, President Trump, and where interest rates should be. Lavorgna speaks with Kailey Leinz and Tyler Kendall on the late edition of Bloomberg's 'Balance of Power.' (Source: Bloomberg)
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Business Standard
22-05-2025
- Business
- Business Standard
Record galore! Bitcoin holds above $110k mark; what's next for BTC?
Bitcoin at record high: After nearly four months of sideways consolidation, Bitcoin (BTC) has shattered its previous all-time high, soaring to a record $111,861.22 on Thursday, May 22, 2025. The flagship cryptocurrency eclipsed its earlier peak of $109,114.88 set on January 20 this year, reflecting a strong bullish resurgence. Market analysts attribute the rally to a confluence of macroeconomic tailwinds, including easing geopolitical tensions, an improved regulatory environment, and sustained institutional interest. The breakout, analysts said, underscores a broader shift in investor sentiment, with Bitcoin increasingly being viewed as a credible asset in both retail and institutional portfolios. The bellwether currency was quoted trading at around $111,329.12, up by 3.62 per cent at 11:11 AM on Thursday, May 22. The world's most popular cryptocurrency had a 24-hour trading volume of $90.97 billion. Bitcoin's market capitalisation stood at $2.21 trillion, the highest among all cryptocurrencies. Bitcoin has fluctuated between $106,127.23 and $111,861.22 levels in the last 24 hours, according to data from CoinMarketCap. Analsysts weigh in 'Bitcoin officially entered uncharted territory, breaking past its previous all-time high and is currently trading above $110,000,' said Ashish Singhal, Co-founder of CoinSwitch. 'This isn't just a milestone for the market—it is a reflection of how the global perception of digital assets is fundamentally evolving.' Over the past few days, Bitcoin has shown remarkable strength, holding steady around the $98k–$100k range - boosting confidence among both retail and institutional investors. "This rally is driven by more than just market momentum—it is backed by consistent inflows into spot Bitcoin ETFs, improving macroeconomic clarity, regulatory support such as recent introduction of Genius Act and a growing recognition of Bitcoin's credibility, even at the sovereign level. We're seeing this play out real-time as several US states move to integrate Bitcoin into their policy frameworks,' said Singhal. The approval of the Stablecoin Bill and easing trade restrictions, Edul Patel, Co-founder and CEO of Mudrex, said, have also significantly improved investor sentiment, helping Bitcoin hit a new ATH just four months after the previous ATH in January. "Institutional demand remains strong, with spot ETFs seeing $2.2 billion in inflows over the past 10 sessions. Furthermore, CryptoQuant data shows a steady return of retail investors, with smaller wallets re-entering the market, bringing fresh liquidity and signalling broader market confidence," said Patel. Echoing similar views, Shivam Thakral, CEO of BuyUcoin, digital asset exchange, said that the price momentum of Bitcoin is mainly driven by regulatory development in the US and record institutional inflows into regulated ETF products. On the fundamental side, BTC ETF inflows remain strong and institutional demand continues to rise in expectation of a favorable regulation later this year. In May alone, over $3.6 billion flowed into US Bitcoin-tracking ETFs, marking the largest monthly inflow since January. "Concerns over rising US debt and treasury yields have positioned Bitcoin as a hedge against economic turbulence, contributing to its price appreciation," said Thakral. Bitcoin eyes $115,000 Pankaj Balani, CEO and Co-founder of Delta Exchange, believes that the breakout above the key resistance levels of $104,000 and $108,000 now establishes them as solid support zones. The push beyond the ATH, Balani said, was strong and with good volume activity. "As the momentum continues, we can see the BTC price move through the key resistance zone between $112,000 and $115,000. Traders are going to be monitoring consolidation and support retests to assess the strength of the upward move here," said Balani. Altcoins rally as Ethereum holds strong above $2,600 The bullish sentiment extended towards the other altcoins too, as Ethereum (ETH), the second-largest cryptocurrency by market capitalisation, was holding above the $2600 mark. Last seen, it was quoted trading at $2,636.09, up 1.39 per cent, with a trading volume of $35.48 billion. It has fluctuated in the range of $2,454.54 - $2,646.16 in the last 24 hours, with a market cap that stood at $317.54 billion. Among other popular altcoins, Cardano (ADA) was trading higher by 4 per cent, followed by Binance Coin (BNB) at 3.32 per cent, and Solana (SOL) traded higher by 3.4 per cent. Meanwhile, Ripple (XRP) was trading lower by 1.38 per cent, down 0.11 per cent.
