Latest news with #cryptoassets
Yahoo
a day ago
- Business
- Yahoo
Metafide CEO: Stablecoin Law "Great Thing for Market"
The total market value of cryptoassets surged past $4 trillion for the first time, driven by a rally in altcoins and momentum from a sweeping US legislative push to regulate the sector. The options market shows traders are increasing bets for even higher prices in the weeks ahead. Metafide Co-Founder and CEO Francis Speiser tells Bloomberg Businessweek Daily he believes the Stablecoin legislation signed into law today by Presidential Donald Trump will help the industry grow by adding additional transparency to the industry. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
a day ago
- Business
- Bloomberg
Metafide CEO: Stablecoin Law "Great Thing for Market"
The total market value of cryptoassets surged past $4 trillion for the first time, driven by a rally in altcoins and momentum from a sweeping US legislative push to regulate the sector. The options market shows traders are increasing bets for even higher prices in the weeks ahead. Metafide Co-Founder and CEO Francis Speiser tells Bloomberg Businessweek Daily he believes the Stablecoin legislation signed into law today by Presidential Donald Trump will help the industry grow by adding additional transparency to the industry. (Source: Bloomberg)
Yahoo
2 days ago
- Business
- Yahoo
Crypto Market Value Tops $4 Trillion as Stablecoin Bill Passes
(Bloomberg) -- The total market value of cryptoassets surged past $4 trillion for the first time, driven by a rally in altcoins and momentum from a sweeping US legislative push to regulate the sector. The Dutch Intersection Is Coming to Save Your Life Advocates Fear US Agents Are Using 'Wellness Checks' on Children as a Prelude to Arrests LA Homelessness Drops for Second Year Manhattan, Chicago Murder Rates Drop in 2025, Officials Say Mumbai Facelift Is Inspired by 200-Year-Old New York Blueprint The milestone followed the passage of the first-ever federal legislation for stablecoins, a key accomplishment during what lawmakers have dubbed 'Crypto Week.' The bill, backed by Republicans and championed by President Donald Trump, introduces federal or state oversight of dollar-linked stablecoin, aiming to legitimize a $265 billion market that Citigroup Inc. analysts project could grow to $3.7 trillion by 2030. Altcoins — a catch-all term for tokens besides Bitcoin — led the latest leg of the rally, with Ether jumping 22% over the past five days. Bitcoin, the industry's benchmark asset, hit a record $123,205 earlier this week. Uniswap surged as much as 24% on Friday, while Solana gained 6.5% at one point. Thursday also saw the House pass a broader crypto market structure bill, which now awaits Senate consideration. Investors have continued to flood into US-listed crypto ETFs. Bitcoin funds have attracted $5.5 billion in inflows so far in July, while Ether ETFs brought in $2.9 billion. (Updates prices.) What the Tough Job Market for New College Grads Says About the Economy How Starbucks' CEO Plans to Tame the Rush-Hour Free-for-All Godzilla Conquered Japan. Now Its Owner Plots a Global Takeover Why Access to Running Water Is a Luxury in Wealthy US Cities Forget DOGE. Musk Is Suddenly All In on AI ©2025 Bloomberg L.P.
Bloomberg
2 days ago
- Business
- Bloomberg
Crypto Market Cap Tops $4 Trillion as US Stablecoin Bill Passes
The total market capitalization of cryptoassets surged past $4 trillion for the first time, driven by a rally in altcoins and momentum from a sweeping US legislative push to regulate the sector. The milestone followed the passage of the first-ever federal legislation for stablecoins, a key accomplishment during what lawmakers have dubbed 'Crypto Week.' The bill, backed by Republicans and championed by President Donald Trump, introduces federal or state oversight of dollar-linked stablecoin, aiming to legitimize a $265 billion market that Citigroup Inc. analysts project could grow to $3.7 trillion by 2030.
Reuters
4 days ago
- Business
- Reuters
Citigroup considers issuing its own stablecoin, CEO says
NEW YORK, July 15 (Reuters) - Citigroup (C.N), opens new tab may issue its own stablecoin in an effort to facilitate digital payments, the bank's CEO, Jane Fraser, told analysts on a post-earnings conference call on Tuesday. "We are looking at the issuance of a Citi stablecoin, but probably most importantly is the tokenized deposit space, where we're very active," she said. "This is a good opportunity for us." The third largest U.S. lender is also exploring reserve management for stablecoins and providing custody solutions for crypto assets, Fraser said. Citigroup's shares briefly touched their highest level since the 2008 financial crisis after the bank reported second-quarter results that beat Wall Street estimates and said it plans to buy back at least $4 billion in stock.
