Latest news with #cryptocurrency
Yahoo
2 hours ago
- Business
- Yahoo
New housing directive could quietly change who qualifies for loans
New housing directive could quietly change who qualifies for loans originally appeared on TheStreet. President Donald Trump has vowed to turn the U.S. into the "crypto capital of the world." He has pursued an aggressive pro-crypto policy during his second term, such as signing executive orders to establish a strategic Bitcoin reserve and pursuing crypto regulatory bills. Now, the Trump administration has taken another step in the direction of crypto adoption. On June 25, William Pulte, director of the Federal Housing Finance Agency (FHFA), issued an order that directs the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FMCC) — popularly called Fannie Mae and Freddie Mac — to consider cryptocurrency as an asset as part of mortgage requests. Join the discussion with Scott Melker on. Fannie Mae and Freddie Mac are government-backed enterprises that purchase mortgages on the secondary market, issue them as mortgage-backed securities (MBSs), and guarantee payments to investors. While the enterprises don't issue mortgages, they issue guidelines around them. Pulte's directive asks these enterprises to formulate proposals to consider crypto assets for reserves in single-family mortgage loan risk assessments. Unlike earlier, the newly proposed process doesn't require the conversion of virtual assets into U.S. dollar as the loan closes. The latest move by the federal housing regulator is reflective of the broader shift toward institutional recognition of crypto as legitimate assets in the U.S. Nonetheless, the order is careful enough to caution Fannie Mae and Freddie Mac against considering cryptocurrencies not stored on U.S.-regulated, centralized trading exchanges. Join the discussion with CryptoWendyO on. Michael Saylor, the billionaire entrepreneur who leads the world's largest public Bitcoin treasury company MicroStrategy (Nasdaq: MSTR), congratulated Pulte on the move. One X user, however, was disappointed with the FHFA's decision to prefer assets held on centralized crypto exchanges over those held in self-custody. New housing directive could quietly change who qualifies for loans first appeared on TheStreet on Jun 26, 2025 This story was originally reported by TheStreet on Jun 26, 2025, where it first appeared. 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
Yahoo
4 hours ago
- Business
- Yahoo
While Most Redditors Panic-Sell Bitcoin Below $100K, These Investors Are Buying the Blood
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The cryptocurrency market is experiencing its most dramatic selloff in months, with Bitcoin plummeting below the psychologically critical $100,000 level and Ethereum bleeding from $2,700 to $2,100 in just one week. But behind the panic selling and social media despair, a fascinating divide is emerging between seasoned investors and newcomers—one that could determine who survives this downturn. For crypto investors accustomed to market volatility driven by regulatory news or institutional adoption, this geopolitical trigger represents something different: a reminder that digital assets, despite their decentralized nature, remain deeply connected to global risk sentiment. Don't Miss: Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account. 'The spike in oil prices will hurt the world,' noted one investor, capturing the broader economic implications that extend far beyond crypto portfolios. What's most revealing isn't the price action itself, but how different types of investors are responding. The cryptocurrency community is essentially splitting into two camps, each with dramatically different strategies. The Panic Sellers are experiencing what one investor called being 'beyond exhausted' and 'sad and tired as a crypto investor.' Comments like 'I am never going to financially recover from this' and admissions of being 'down 55%' reveal the emotional toll of this downturn. Many are questioning fundamental assumptions about crypto cycles, with one noting: 'The biggest mistake I made was thinking that Bitcoin runs up first and then alt season happens like in 2021.' The Opportunistic Buyers, however, are taking a completely different approach. 'Buy when there's blood on the streets,' advised one, while another declared: 'F*ck those who are scared, I'm buying more.' These investors are thanking panic sellers for providing 'retail exit liquidity' and planning to 'DCA down' during the chaos. Trending: New to crypto? Get up to $400 in rewards for successfully completing short educational courses and making your first qualifying trade on Coinbase. Perhaps nowhere is the divide more apparent than in attitudes toward alternative cryptocurrencies. The 'altcoin bloodbath' has been particularly brutal, with one investor observing: 'Total 3 Alts chart is literally going straight down parabolic. Guess this is the alt season they've been talking about. Just the wrong way.' This has led to a notable shift in strategy among experienced investors. 'Gave up on Alts years ago. Stack sats and enjoy the ride,' commented one Bitcoin maximalist, while another admitted selling 'most of these sh*tty alts' before the crash. The harsh reality? Many altcoins that seemed promising during the bull run are now revealing their lack of fundamental value during this stress test. Despite the doom and gloom dominating social media, a closer look at investor behavior reveals three key strategies emerging among those who've survived previous crypto winters: 1. Flight to Bitcoin Quality: Experienced investors are consolidating positions in Bitcoin rather than diversifying across numerous altcoins. The philosophy is simple: if you're going to weather a crypto winter, do it with the most established digital asset. 2. Dollar-Cost Averaging Into Chaos: Rather than trying to time the bottom, methodical investors are using systematic buying during the decline. As one put it: 'DCA down today and Monday.' 3. Emotional Detachment: The most successful crypto investors have learned to separate their emotions from their investment decisions. While newcomers express despair, veterans are making calculated moves based on long-term conviction rather than short-term isn't crypto's first rodeo with geopolitical chaos. Digital assets have weathered the COVID pandemic, Russia's invasion of Ukraine, banking sector stress, and multiple regulatory crackdowns. Each time, the same pattern emerges: panic selling creates opportunities for patient capital. What's different this time is the scale of institutional involvement. Unlike previous crypto winters, major corporations, ETFs, and sovereign wealth funds now hold significant Bitcoin positions. This institutional backing provides a different foundation than purely retail-driven markets of the past. Scenario 1: Extended Winter – If geopolitical tensions escalate further, crypto could face months of suppressed prices as risk assets broadly decline. Bitcoin could test lower support levels, potentially reaching the $80,000-$90,000 range that some analysts are predicting. Scenario 2: Quick Recovery – Should tensions de-escalate quickly, crypto's oversold condition could lead to a sharp rebound, similar to previous geopolitical scares that proved temporary. Scenario 3: Selective Survival – The most likely outcome may be a market that separates winners from losers more definitively, with Bitcoin and a handful of altcoins with real utility surviving while weaker projects fade away. This crypto crash is serving as a brutal but necessary stress test. It's separating investors who understand the long-term potential of digital assets from those who were simply riding momentum. For those with strong stomachs and long-term conviction, this period may represent the kind of opportunity that creates 'generational wealth'—though only for investors who can withstand the emotional and financial pressure of watching their portfolios decline in the short term. The key question isn't whether Bitcoin will recover from below $100,000—history suggests it will. The question is whether individual investors have the patience, risk tolerance, and strategic thinking to benefit when it does. As one investor philosophically noted: 'If you're a man, you don't cry about it, you take life, the ups and downs; if you're a real man you never go down, you just stay up!' The crypto market is delivering its harshest lesson yet. Those who learn from it may find themselves significantly wealthier on the other side. Read Next: Peter Thiel turned $1,700 into $5 billion—now accredited investors are eyeing this software company with similar breakout potential. Learn how you can invest with $1,000 at just $0.30/share. This article While Most Redditors Panic-Sell Bitcoin Below $100K, These Investors Are Buying the Blood originally appeared on
Associated Press
4 hours ago
- Business
- Associated Press
Cook Travel Becomes Trailblazer, Accepting Bitcoin for Tours and Airline Tickets
This groundbreaking move positions Cook Travel as the only major travel agency to embrace cryptocurrency for travel services NEW YORK, NY, UNITED STATES, June 28, 2025 / / -- Cook Travel will now accept Bitcoin and other cryptocurrencies for premium tours and airline tickets. This groundbreaking move positions Cook Travel as the only major travel agency to embrace cryptocurrency for travel services, offering clients a modern way to book travel experiences. As a spinoff from the renowned Thomas Cook and a former American Express Representative Excellence Award winner, Cook Travel has specialized in discount First and business-class travel since 1983. New York Times: ' (Cook Travel)… are both reputable consolidators.' Wall Street Journal: 'Established discount travel agencies like Cook Travel… save clients money by passing along volume discounts and finding novel routing options.' Consumer Reports: 'recently offered a nonstop business-class fare for over 40 percent off.' Over the last five decades, the agency has remained steadfastly committed to providing customers with exceptional concierge service at discounted rates, leveraging savings from consolidator fares and tour packages offered by most major airlines. This unique approach allows Cook Travel to provide significant savings on luxurious travel options, including tours, cruises, and Business Class airline tickets. 'We are thrilled to be at the forefront of the travel industry by accepting Bitcoin,' said Molly O'Brian, spokesperson. 'This is not just about staying current with payment trends; it's about providing our clients with flexible and secure payment options that cater to evolving preferences.' 'Beyond flexible, cutting-edge payment options, we've noticed our First and Business class customers increasingly want to deal with a human being. Not with an AI bot or a complicated, spammy booking engine,' O'Brien observes. In an era where person-to-person service is disappearing, Cook distinguishes itself by assigning every customer an individual luxury travel specialist at no cost. Clients can expect a concierge experience without the hassle of dealing with pesky long wait times and irritating elevator music. The days of hour-long holds are over when dealing with Cook Travel, which also proudly boasts no hidden booking fees. With its commitment to customer satisfaction and innovation, Cook Travel continues to offer luxury for less for discerning clients. 'Our clients are really smart,' O'Brien gushes. 'They keep us on our toes, they're hungry for deals, and now, by accepting Bitcoin and other cybercurrencies, our agency is not only enhancing its service offerings but also setting a new standard in the travel industry.' About Cook Travel Founded in 1983, Cook Travel specializes in discounted First and Business Class travel. As a spinoff from Thomas Cook, the agency has established itself as a leader in luxury travel services, ensuring each client receives personalized attention from dedicated travel consultants. Cook Travel offers a wide range of travel options, including tours, cruises, and airline tickets, all at competitive prices. To learn more, Cook Travel call 800-435-8776 or visit [email protected]. In Europe email [email protected]. **Media Contact:** Blake Cordoves 917 514 6958 [email protected] ### END ### Blake cordoves Cook Travel +1 800-435-8776 email us here Legal Disclaimer: EIN Presswire provides this news content 'as is' without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
Yahoo
5 hours ago
- Business
- Yahoo
Jim Cramer has a six-word response to upcoming bull market
Jim Cramer has a six-word response to upcoming bull market originally appeared on TheStreet. CNBC's Jim Cramer is well-known for his hot takes on the markets, which often draw sharp reactions from Crypto Twitter. It was no different this time, as he predicted $100 trillion coming into the market in an X post on June 27. Cramer warned traders, "Ignore this money at your own peril!" An X user asked Grok for more details on the post, to which the AI chatbot said Cramer's claim likely refers to $100 trillion worth of crypto market cap, with Bitcoin and Ethereum being main contributors. "This could mean market value, not new capital, as $100 trillion is close to global GDP ($115 trillion), making such an influx unlikely," Grok clarified. Join the discussion with CryptosRUs The CNBC host isn't the only analyst who is so bullish on crypto. Global Macro Investor's (GMI) head of macro research, Julien Bittel, recently shared what he called 'The Everything Code' on X, according to which the crypto market cap will hit $100 trillion over the next 7-10 years. The world is in the middle of a global race in which institutions, sovereigns, and individuals are accumulating as much Bitcoin as they can, Bitter underlined and added that the phenomenon will be the "driving force behind mass crypto adoption." He continued: "If we're right, this will be the single greatest wealth-creation opportunity of our lifetimes." To put things into perspective, the total crypto market cap stood at $3.26 trillion at the time of writing. The highest that the crypto market cap ever reached was $3.7 trillion around mid-December 2024. To meet the astronomical target of $100 trillion, the crypto market cap needs to grow more than 27 times. Jim Cramer has a six-word response to upcoming bull market first appeared on TheStreet on Jun 27, 2025 This story was originally reported by TheStreet on Jun 27, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
5 hours ago
- Business
- Yahoo
Anchorage to Phase Out USDC, Agora USD Citing Risks, Stirring Fierce Backlash
Anchorage Digital, a crypto custodian and federally chartered bank, said it will start phasing out and direct institutional clients to convert USDC USDC and other stablecoins into rival token Global Dollar (USDG) in a sweeping move that drew criticism from industry players. The firm released a "Stablecoin Safety Matrix" that ranks stablecoins based on regulatory oversight and reserve asset management on Tuesday. Circle-issued USDC, which is the second-largest stablecoin with a $61 billion supply and is popular among institutions, was deemed no longer suitable under Anchorage's security framework. Two other, smaller tokens, Agora USD (AUSD) and Usual USD (USD0), were also slated for removal. Stablecoins are cryptocurrencies with their prices tied to an external asset, predominantly to the U.S. dollar. "Following our Stablecoin Safety Matrix, USDC, AUSD, and USD0 no longer satisfy Anchorage Digital's internal criteria for long-term resilience," Rachel Anderika, head of global operations at Anchorage, said in a statement justifying the decision. 'Specifically, we identified elevated concentration risks associated with their issuer structures — something we believe institutions should carefully evaluate." "Anchorage Digital is focused on supporting stablecoins that demonstrate strong transparency, independence, security, and alignment with future regulatory expectations," she added. The move came at a time when competition in the stablecoin market is heating up with global banks, payments firms and crypto companies jockeying for position in the rapidly-growing sector. The U.S. Senate recently passed the GENIUS Act that aims to enact clear rules for the asset class and issuers, which could open the gates for broader adoption. On Friday, White House crypto czar David Sacks suggested that the bill may become law as soon as next month, pending passage in the House of Representatives. Reports by Citi and Standard Chartered reports projected the asset class to grow from the current $250 billion to trillions through the next few years. Circle (CRCL), the company behind the USDC token, recently went public and skyrocketed in valuation. Anchorage gave USDC a score of 2 out of 5 for regulatory oversight and reserve management. The report said there was "no substantive prudential oversight" and that Circle had a large — about 15% — amount of its reserves held in cash at banks. Notably, USDC depegged temporarily in March 2023 when partner bank Silicon Valley Bank went under. Tether's USDT, the world's largest stablecoin, had a higher rating with Anchorage pointing to it being regulated in El Salvador. S&P Ratings rated USDC "strong," its second-best rating in its stablecoin stability assessment. Bluechip, a crypto-native stablecoin rating firm, gave USDC a B+ rating in its economic safety rating. Anchorage's decision met with fierce pushback. Nick Van Eck, whose firm Agora issues AUSD, accused Anchorage of misrepresenting facts about his stablecoin and failing to disclose its commercial interest in Global Dollar. USDG is issued by Paxos and is backed by a consortium of firms that share the income from the reserve assets backing the token. Anchorage is a founding partner in that consortium. "If Anchorage had just delisted USDC and AUSD to prioritize the stablecoins that they have an economic interest in, I would understand it as a business decision," he said in an X post. "But attempting to delegitimize AUSD and USDC for 'security concerns,' while knowingly publishing false information, is unserious and bizarre." "Never seen such an obvious hit piece be so poorly executed," said Viktor Bunin, protocol specialist at digital asset exchange Coinbase. Coinbase jointly launched USDC with Circle in 2018, and shared revenue from the reserve assets backing the token. Jan Van Eck, father of Nick Van Eck and CEO of asset manager Van Eck, which manages AUSD's backing assets, also questioned the risk assessment. "If you need a laugh, check out this 'safety' matrix before Anchorage pulls it down. According to the matrix, Circle's USDC (world's second largest stablecoin) and AUSD (backed 100% by treasuries) have reserve issues," he posted on X. "Oh, and by the way, AUSD's reserve manager is regulated by umpteen different regulators." Circle, in a statement sent to CoinDesk, defended the firm's "long-standing compliance record" and "strong reputation as an industry leader." "We comply with the prevailing U.S. regulatory standards that apply to leading fintech and payments firms, and we were the first stablecoin issuer to achieve full compliance with the European Union's landmark crypto law," a Circle spokesperson said. "USDC is 100% backed by fiat-denominated reserves and has robust primary liquidity through a well-developed network of banks, representing what we view as the highest levels of transparency, safety, and operational resiliency in our industry." Support came for Circle and Agora outside of the two stablecoins' camp. "For the record, BitGo is not dropping USDC support," said Chen Fang, chief revenue officer at crypto custodian BitGo. "Agora and Circle are long-standing partners of ours, and our customers count on safe, transparent rails for USD settlement," said Joshua Lim, co-head of markets at crypto prime broker FalconX, adding that his company "is ready to support clients using AUSD and USDC." 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
