Treasury Secretary Scott Bessent leant on stablecoin adoption and dollar-denominated trade metrics to defend the strength of the U.S. economy, seeking to counter anxiety over surging government debt yields and shifting international payment rails. Bessent pushed back against a recent report by the New York Times which outlined structural risks in the country’s financial position. […]

Strategy MSTR$166.11 made its first bitcoin purchase since late August, acquiring 950 BTC for $75.7 million last week at an average price of $79,670 per coin. The purchase was funded through the USD reserve, according to a Monday morning regulatory filing. Strategy used $174 million of USD cash to fund repurchases of STRC and $75.7 […]

The concern extends to banks. Van der Chijs believes AI could expose vulnerabilities in legacy banking software, threatening confidence in institutions that depend on interconnected systems. Within crypto, he sees exchanges and other businesses built around bitcoin as more vulnerable than the underlying network. His concerns have not displaced an expansive view of AI’s economic […]

If that’s not enough, the Dollar Index, which measures the dollar against a basket of major currencies, has topped 100, hitting its highest level in over a month. Sustained dollar strength can tighten financial conditions and weigh on risk assets, including bitcoin. Further, the Bank of Japan lifted its benchmark borrowing cost to a 31-year […]

Following the initial March 2022 hike, bitcoin rallied roughly 18% over the following 12 days before subsequently falling around 50%. That raises the possibility that another relief rally could give way to a prolonged bear market. However, one comparable cycle offers limited evidence, and bitcoin’s decline in 2022 coincided with losses across equities, bonds and […]

The U.S. Federal Reserve tightened monetary policy for the first time in more than three years on Wednesday. In a nearly-universally anticipated move, the central bank lifted its benchmark fed funds rate range by 25 basis points to 3.75%-4%. The vote to hike rates was unanimous, and the “dots” signal an expectation for one more […]

Digital asset financial services firm Two Prime unveiled a bitcoin BTC$75,573.78 lending vault on Pareto, targeting annual yields of 1.5% to 2% by lending to institutional borrowers. The Axiom WBTC Yield Vault accepts wrapped bitcoin (WBTC), a token representing bitcoin that can be used on other blockchain networks. The vault requires a minimum deposit of […]

Bitcoin’s Coinbase COIN$173.07·Market Closed premium has fallen to its lowest level in four weeks, suggesting weakening U.S. demand as investors confront a setback for crypto legislation and the prospect of tighter monetary policy. The premium measures the difference between bitcoin’s dollar price on Coinbase and its USDT price on Binance. CryptoQuant’s Coinbase Premium Index tracks […]

Stack BTC (STAK), the U.K. bitcoin BTC$75,541.95 treasury company backed by Nigel Farage, has proposed acquiring precious metals dealer Direct Bullion for up to 12 million pounds ($16 million), using operating cash flow to support bitcoin accumulation. The non-binding deal includes 3 million pounds in cash, approximately 4 million pounds in shares at completion and […]

Bitcoin treasury firm Strategy (MSTR) raised $333.7 million last week through the sale of 3.46 million shares of common stock, according to a Monday filing. The company did not buy or sell any bitcoin during the week ended Aug. 16, leaving its bitcoin reserve unchanged at 840,447 BTC. The holdings were acquired for $63.36 billion […]