Crypto News

Image generated by CariGold Welcome to "Crypto Week." With Two Cryptocurrency-Focused Bills in the House This Week, Is The Industry Officially Mainstream? Key Points Bitcoin (CRYPTO: BTC) broke the $120,000 barrier on Monday, July 14, as what's been dubbed "Crypto Week" kicked off in Washington D.C. Ethereum (CRYPTO: ETH) pushed above $3,000 for the first time since February. And crypto's total market cap reached a new high of over $3.8 trillion. What's driving the increase? In part, it was optimism about regulatory change. The House had planned to discuss three crypto bills between July 14 and 18. The GENIUS Act, designed to regulate stablecoins, the Digital Asset Market Clarity Act (Clarity Act), which sets clear definitions of...

Image generated by CariGold The Node: Stablecoin Supremacy The governor of the Bank of England, Andrew Bailey, wrote a letter to the G20 stating that the Financial Stability Board (FSB), which Bailey heads, is assessing the role of stablecoins in payments and settlements as a top priority. To the point: an analyst at Standard Chartered says that, once stablecoins hit the $750 billion mark, they may begin to influence the structure of U.S. Treasury markets. Their market cap is currently at roughly $258 billion according to DefiLlama. We also have Deribit making it possible for USDC holders to earn 4% yield, and a crypto startup called Dakota raising $12.5 million to make it easier for businesses to move funds from U.S. dollars to...

Image generated by CariGold Asia Morning Briefing: BTC Pulls Back as Market Isn't 'Invincible' Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas. As East Asia begins its business day, bitcoin is down 1.8%, trading above $117,800, as traders take some profit after BTC pushed through multiple all-time highs. While there's a belief from some market participants that the rally is just beginning, with calls for BTC to hit 160k, 200k, and further, OKX's Chief Commercial Officer, Lennex Lai warns that risk is building...

Image generated by CariGold Time to Buy Interactive Brokers (IBKR) Stock as Q2 Earnings Approach Favorable quarterly reports from most of the large domestic banks are drawing attention to the financial sector, and Interactive Brokers IBKR is worthy of consideration ahead of its Q2 results on Thursday, July 17. Soaring nearly +100% in the last year, Interactive Brokers stock is up +35% year to date and looks poised for higher highs after hitting a 52-week peak of $60 a share in today’s trading session. The automated global electronic broker is seeing supercharged trading volumes following an unprecedented rebound among the U.S. stock exchanges. Enhancing its product offerings, Interactive Brokers has recently launched IBKR...

Image generated by CariGold Red Light Holland Corp. (CSE: TRIP), an Ontario-based psychedelics company, announced on July 15 that it has adopted a Bitcoin balance sheet strategy. The company is engaged in the production, growth, and sale of functional mushrooms and mushroom home grow kits in North America and Europe, in addition to psilocybin truffles in the legal, recreational market within the Netherlands. Scott Melker is the host of The Street Roundtable and The Wolf of All Streets podcasts, joined Red Light Holland as its senior advisor and crypto czar on July 14. Journey from debanking to Bitcoin The psychedelics company said its decision to embrace Bitcoin is informed by its past experiences of having faced challenges with...

Image generated by CariGold Why the Genius Act could be a big boost for cryptocurrencies So-called stablecoins could be a step closer to becoming a mainstream form of payment in the U.S. as the House of Representatives considers a bill regulating the digital currency. The Genius Act, which passed in the Senate last month with broad bipartisan support, would create rules of the road for the $250 billion market for stablecoin, a type of cryptocurrency. The bill is also part of a broader push by Republican lawmakers and President Trump to support the cryptocurrency industry and ease regulations around the emerging sector. House Republicans on Friday announced that Monday would be the start of "Crypto Week," when they planned to move...

Image generated by CariGold Autodesk (ADSK) Falls More Steeply Than Broader Market: What Investors Need to Know In the latest close session, Autodesk (ADSK) was down 1.9% at $288.96. The stock trailed the S&P 500, which registered a daily loss of 0.4%. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq gained 0.18%. Prior to today's trading, shares of the design software company had lost 1.59%, lagging the Computer and Technology sector's gain of 6.34% and the S&P 500's gain of 4.97%. Earnings and Revenue Projections Analysts and investors alike will be keeping a close eye on the performance of Autodesk in its upcoming earnings disclosure. The company's upcoming EPS is projected at $2.44, signifying a 13.49% increase...

Image generated by CariGold California Taps Ripple, Coinbase and Moonpay to Advance Government Efficiency California Governor Gavin Newsom launched a task force on July 15 to advance government efficiency. Called the California Breakthrough Project, the initiative aims to make California government more efficient, engaged, and effective. The project includes representatives from cryptocurrency firms such as Ripple, Coinbase (Nasdaq: COIN), and MoonPay. The group first met at the Ripple headquarters on June 6, as Chris Larsen, the company's executive chair, is part of the task force. Among the main goals of the project are fostering collaboration between state leaders and tech experts, identifying and addressing systemic government...

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Image generated by CariGold JPMorgan's Dimon and Citigroup's Fraser consider stablecoins in Wall Street crypto pivot JPMorgan Chase (JPM) CEO Jamie Dimon and Citigroup (C) CEO Jane Fraser both said Tuesday they are going to get involved in stablecoins, the latest evidence of how Wall Street is pivoting to embrace digital assets as federal lawmakers debate new legislation favorable to the crypto industry. "We are looking at the issuance of a Citi stablecoin," Fraser told analysts Tuesday. “We really welcome the administration’s willingness to allow banks to participate in the digital asset space more easily,” Fraser added. The effort to push crypto legislation through Congress hit a roadblock Tuesday as 13 Republicans voting with...

Image generated by CariGold Crypto bills hit procedural snag in Congress WASHINGTON (Reuters) - The fate of long-awaited cryptocurrency legislation in Congress was cast into doubt Tuesday, as a procedural vote to consider the measures was shot down by lawmakers. House Republicans had billed this week as "Crypto week," and were keen to advance numerous pieces of legislation aimed at providing clarity to the digital asset industry and long-sought legitimacy to the sector. But those efforts hit an early snag Tuesday, when several conservative Republicans joined with Democrats in blocking a procedural vote to allow consideration of three crypto bills as part of a dispute over how the measures should be packaged and considered. House...

Image generated by CariGold As the June inflation data dropped on July 15, the crypto market lost any hope of the Federal Reserve cutting interest rates soon. The Consumer Price Index (CPI) rose 0.3% month-over-month in June, higher than May’s 0.1% rate. Most crypto stocks went into a state of panic and began to retreat from the previous day's close. However, Coinbase (Nasdaq: COIN), the lone crypto warrior on the S&P 500, didn't get rattled by the latest inflation data and hit an all-time high of $400.88. This isn't surprising given the fact that the stock hit its previous record high of $398.50 only the last day on the back of the broader crypto market rally. The company now has a market cap of more than $101 billion. At the time...

Image generated by CariGold Jamie Dimon Says JPMorgan Plans to Get More Involved in Stablecoins JPMorgan Chase (JPM) CEO Jamie Dimon said the bank is planning to get more involved with stablecoins—crypto assets with a value pegged to another currency or financial asset such as the U.S. dollar. “We’re going to be involved in both JPMorgan deposit coin and stablecoins to understand it, to be good at it,” Dimon said during the bank’s second-quarter earnings call, according to a transcript from AlphaSense. The deposit coin Dimon referred to is JPMD, a stablecoin-like token currently available only to the bank’s clients. “I don't know why you'd want a stablecoin as opposed to just payment,” Dimon said, but added that fintech companies...

Image generated by CariGold Shaking out your couch cushions for spare change used to be the move when you wanted to scrounge up some quick cash, but if you are sitting on top of a solid coin collection, you could be harboring more money than you think. Find Out: 10 Most Valuable American Dimes in Circulation Learn More: 8 Common Mistakes Retirees Make With Their Social Security Checks So, when it comes to getting the most value for your rare coins, what is the best course of action? If you search online forums from fellow coin enthusiasts, the most consistent consensus from experts is this single advice: If you have well-received local coin stores or auctions, get in there and introduce yourself and your coin (or coins). Not only...

Image generated by CariGold This Company Holds More ETH Than The Ethereum Foundation SharpLink Gaming overtook the Ethereum Foundation to become the largest corporate holder of ether. The Nasdaq-listed firm, chaired by Joseph Lubin, now holds 280,706 ETH. This article has been published in coindesk.com via Yahoo News. https://finance.yahoo.com/video/company-holds-more-eth-ethereum-184851825.html

Image generated by CariGold Trump says House's next vote will make America 'undisputed' leader President Donald Trump wished everyone a "Happy Crypto Week" on Truth Social on July 15. Trump said the House will soon vote on the GENIUS Act to make America the "undisputed, number one" leader in crypto assets. The Guaranteed and Enforceable Neutral Intermediaries for U.S. Stablecoins (GENIUS) Act has already passed in the Senate in mid-June. In his latest post, Trump asked all Republicans to vote yes on the bill in the House today. A stablecoin is a type of cryptocurrency that attempts to keep its value stable, in contrast to usually volatile crypto assets like Bitcoin. It is pegged to a traditionally stable asset, such as the U.S...

Image generated by CariGold Citigroup considers issuing its own stablecoin, CEO says NEW YORK (Reuters) - Citigroup 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...

Image generated by CariGold Market Makers May Be Favorably Mispricing MARA Holdings Options: Here’s How We Know With cryptocurrencies swinging higher after a period of extended consolidation, traders who missed the boat may consider crypto-mining specialist MARA Holdings (MARA). As a digital asset technology firm, MARA stock represents an indirect play on blockchain-derived coins and tokens. Still, this could have its advantages, given that cryptos are susceptible to distinct challenges, such as exchange hacks. What makes MARA stock particularly intriguing at this hour is that it has been the subject of unusual options activity. Oftentimes, major investors use derivatives to quietly build a position. Also, the nature of options —...

Image generated by CariGold Crypto Legislation To Bring Regulatory Clarity: Steil Rep. Bryan Steil (R) Wisconsin explains legislation expected for crypto and expects all bills will pass the house. He also discusses regulation and conflict of interest in an interview with Sonali Basak and Tim Stenovec on "Bloomberg Crypto." This article has been published in Bloomberg.com via Yahoo News. https://finance.yahoo.com/video/crypto-legislation-bring-regulatory-clarity-172452901.html

Image generated by CariGold Non-fungible tokens (NFTs), while trendy for a time as speculative investments, quickly oversaturated their market and — coupled with overall declines in the cryptocurrency market — have markedly decreased in value. Indeed, many NFTs are now worthless or near-worthless, leaving their investors empty-handed. That said, NFTs can still serve a rather surprising utility for clever investors. Per Forte Innovations, NFT investors can actually turn around their worthless NFTs and use them to cut their tax bills. This process is known as tax-loss harvesting. Through tax-loss harvesting, an investor identifies any investments in their portfolio that have dropped in value (in this case, NFTs). The investor then...