The bill created a $10 billion limit for non-depository trust institutions to be able to issue payment stablecoins. Once the issuer exceeds that amount, it must be “a depository institution that has been authorized as a national payment stablecoin issuer,” the bill’s text said. At present, the largest U.S.-based stablecoin issuer, Circle (with $33 billion … Read more
Mostly thanks to boosted demand from the spot ETFs, bitcoin by mid-March had risen nearly 70% for 2024 to a new record above $73,000. The rally has stalled since, with the price now more than 15% below that all-time high. The reasons for the pullback are up for debate, but for the last month, sellers … Read more
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Congress has for years struggled to get any new laws passed for cryptocurrencies, providing greater clarity sought by both critics and proponents of digital assets. Stablecoin legislation may, nonetheless, be the lowest-hanging fruit given that stablecoins strongly resemble other regulated products like money-market funds, and there’s a strong incentive to create guardrails since they own … Read more
“Many banks, endowments, and pension funds worldwide are only now beginning their due diligence processes before considering strategic allocations to BTC through newly launched ETFs,” Kerbage continued. “As these large financial institutions make decisions over the coming months, it is likely that inflows will increase once again, potentially reaching new milestones for what has been … Read more
The biggest difference between the 2020 halving and the 2024 halving is skyrocketing institutional demand. Prior to the previous halving, institutions were on the sidelines. The market was dominated by retail investors. Since then, the market dynamic has drastically shifted. As one example, MicroStrategy didn’t make its first BTC purchase until August 2020. As of … Read more
We may not need to reuse OpenStack directly, but we need to build something similarly usable (and similarly reliable, which is the difficult part). We will have to blend our home-grown incentive structures with Web2 and cloud hyperscaler monitoring, compliance and security technologies in order to succeed. We need to design hybrid centralized/decentralized SLAs (service … Read more
Bitcoin miners who have not optimized their existing infrastructure, built their own high-performing data center team, developed their own software stack, and managed their power contracts effectively will face a difficult period after the halving. They will be highly vulnerable to larger players who have the infrastructure to dramatically improve their operations. As a result, … Read more
“It’s, of course, true that our our trading volumes took a significant hit following the SEC’s case and in our transition to a crypto only exchange,” Binance.US COO Chris Blodgett said, adding that, “the last two quarters have seen very strong rebounds in volume, revenue and user engagement across the platform, due in part to … Read more
“Our growing concern is that risk assets (stocks and crypto) are teetering on the edge of a significant price correction. The primary trigger is the unexpected and persistent inflation. With the bond market now projecting less than three cuts and 10-year Treasury Yields surpassing 4.50%, we may have arrived at a crucial tipping point for … Read more