Cryptocurrency Live News & Updates : Banking Groups Call for Changes to Stablecoin Bill
A coalition of 52 banking organizations has urged the Senate to amend the GENIUS Act, particularly opposing provisions that favor state-chartered uninsured depository institutions and calling for a ban on yield offerings by stablecoin companies.
Banking Groups Call for Changes to Stablecoin Bill
A coalition of 52 banking organizations has urged the Senate to amend the GENIUS Act, particularly opposing provisions that favor state-chartered uninsured depository institutions and calling for a ban on yield offerings by stablecoin companies.
Powell to Discuss Economic Outlook at Jackson Hole
Federal Reserve Chair Jerome Powell will speak on the economic outlook and Fed policy at the Jackson Hole meeting on August 22, amid rising expectations for a potential rate cut next month.
SEC Postpones Solana ETF Decision to October
The SEC has delayed its decision on the Bitwise and 21Shares Solana ETF proposals, now due by October 16, to allow for a comprehensive review of the proposed rule changes.
BNB Hits 840 USDT with 0.89% 24-Hour Dip
As of August 14, 2025, BNB has reached 840.20 USDT, experiencing a slight 0.89% decrease over the past 24 hours.
Citigroup Considers Stablecoin Custody Services
Citigroup is exploring stablecoin custody and related services, aiming to support cryptocurrency investment products and facilitate stablecoin transfers for clients.
BNB Falls Below 830 USDT with 1.67% Drop
As of August 14, 2025, BNB is trading at 829.12 USDT, reflecting a 1.67% decline over the past 24 hours, according to Binance Market Data.
Ethereum (ETH) Falls Below 4,500 USDT
As of August 14, 2025, Ethereum has dipped below 4,500 USDT, currently trading at 4,495.5 USDT, reflecting a 5.59% decline over the past 24 hours.
US Spot Ether ETFs Attract $729M Inflows
US spot Ether ETFs recorded $729 million in inflows, just behind Monday's record of $1.02 billion, as ETH approaches its all-time high of $4,878.
BNB Market Cap Exceeds $120 Billion
BNB's market capitalization has surpassed $120 billion, positioning it ahead of ConocoPhillips and ranking it 181st globally in asset market value.
Scott Bessent Indicates Potential for Government Bitcoin Acquisitions
Treasury Secretary Scott Bessent has shifted his stance, expressing the government's commitment to exploring budget-neutral methods for increasing its Bitcoin holdings, despite earlier statements suggesting no new purchases would occur.
Bitcoin (BTC) Falls Below 118,000 USDT
As of August 14, 2025, Bitcoin has dipped below 118,000 USDT, currently trading at 117,934.42 USDT, reflecting a 3.96% decline over the past 24 hours.
Wall Street and Advocates Push for GENIUS Act Revisions
U.S. banking groups and consumer advocates are urging lawmakers to amend the GENIUS Act, particularly to eliminate provisions that could favor certain depository institutions and allow stablecoin affiliates to offer yields.
Binance Launches $50,000 Pakistan Crypto Competition
Binance announces the 'Pakistan Crypto Clash,' a trading competition where participants can win a share of $50,000 in USDT vouchers. The event is open to verified users and features team competitions led by prominent crypto figures.
U.S. Sanctions Crypto Network Linked to Garantex
The U.S. Treasury imposed sanctions on entities associated with the ruble-backed stablecoin A7A5 and the now-defunct exchange Garantex, which facilitated over $100 million in illicit transactions.
Bitcoin Realized Price Surpasses 200WMA — Bull Market Signal
Bitcoin's realized price has exceeded its 200-week moving average for the first time since June 2022, indicating a potential new bull market phase.
Justin Sun Files Lawsuit Against Bloomberg
Justin Sun has initiated legal action against Bloomberg, claiming the publication of his wallet addresses could expose him to hacking and kidnapping risks.
Intel's Shares Rise Amid U.S. Investment Talks
Intel's stock surged by 6%, boosting its market value to $103 billion, following reports of potential U.S. government investment in the company, although President Trump has yet to comment on the discussions.
Citigroup Explores Crypto Custody and Payment Solutions
Citigroup is planning to expand its services into crypto custody and stablecoin payments, aiming to capitalize on the growing crypto market as regulatory conditions improve.
Fed Chair Candidate Calls for Easing Amid Inflation
David Zervos, a potential Federal Reserve Chair, urges officials to implement easing measures despite rising inflation, advocating for a reduction in the federal funds rate to support job growth.
Why Bitcoin Treasury Stocks Lag Behind BTC
Despite Bitcoin hitting a record high of $124,457, corporate treasury stocks are significantly underperforming, raising questions about their promised advantages over Bitcoin.
Yen Strengthens Against Bitcoin and Dollar Amid Rate Hike Speculation
U.S. Treasury Secretary Scott Bessent predicts a Bank of Japan interest rate hike, leading to a stronger yen against both the dollar and Bitcoin, with BTC/JPY dropping 1.7%.
Sapien Launches Token to Incentivize AI Training
Sapien, a decentralized AI training protocol, is set to launch its SAPIEN token on August 20 to reward human contributions in AI training.
Fundstrat: Ethereum May Be Top Macro Trade Ahead
Fundstrat's Thomas Lee predicts Ethereum could be the leading macro trade for the next 10-15 years, with price targets of $12,000-$15,000 by 2025, driven by institutional demand and blockchain adoption.
Ethereum PoS Network Experiences High Validator Activity
The Ethereum Proof of Stake network is seeing significant validator queue activity, with around 700,900 ETH in the exit queue and a withdrawal delay of over 12 days. Meanwhile, new staking demand has pushed the entry queue to 223,338 ETH.
Cardano Price Forecast: Analyst Sees $1.50 Potential
Cardano has broken out of a bullish pattern, with an analyst predicting a rise to $1.50 amid growing Grayscale ETF excitement.
Skale Crypto Faces Potential 40% Drop Soon
Skale (SKL) token surged 170% this week after the launch of It Remains on its network, but analysts warn it may soon decline by 40% due to market sentiment shifts, fading hype, and overbought conditions.
Coolpad Group Initiates Property Asset Tokenization
Coolpad Group has unveiled a strategic four-phase plan to explore the tokenization of property assets, starting with feasibility studies set for completion by Q4 2025.
Raydium Surges to $4.10 Amid Volume Spike
Raydium's native token, RAY, has surged to $4.10, driven by a significant increase in trading volume and ongoing programmatic buybacks.
Putin Hints at New Arms Deal with U.S.
Russian President Vladimir Putin has suggested that the U.S. is open to negotiating a mutually acceptable arms agreement, potentially improving global peace dynamics.
Master Ventures Swaps $2.4 Million WBTC for ETH
Master Ventures has converted $2.4 million in Wrapped Bitcoin (WBTC) into approximately 517.97 million Ethereum (ETH) in just six hours, according to data from Nansen.
Barkin Addresses U.S. Unemployment Rate Stability
Federal Reserve's Thomas Barkin stated that a 4.2% unemployment rate is stable and not alarming, despite slowing job growth and hiring restraint by companies.
Bitcoin Supply Remains Profitable Amid Market Changes
Glassnode's analysis indicates that 99% of Bitcoin's supply is currently profitable, maintaining a strong position even during July's market pullback.
ICP Climbs to $6.08 Before Sudden Drop
ICP experienced a surge from $5.84 to $6.08 but faced a sharp reversal amid security concerns following a breach at Odin.fun, raising questions about its authentication system.
KAIO Connects Traditional Finance with DeFi via Hedera
KAIO has integrated BlackRock, Brevan Howard, and Laser Digital's funds onto the Hedera network, bridging institutional investing with DeFi and enabling blockchain access to traditional investment strategies.
Bitcoin (BTC) Hits 119,000 USDT with Minor Dip
As of August 14, 2025, Bitcoin has reached 119,198.83 USDT, experiencing a slight decrease of 1.02% in the last 24 hours, according to Binance Market Data.
Polygon's POL Token Drops 6% Amid Inflation Concerns
Polygon's POL token fell 6% to $0.24 after breaking crucial support levels, driven by rising U.S. wholesale inflation that unsettled risk assets.
Bitcoin (BTC) Falls Below 118,000 USDT
As of August 14, 2025, Bitcoin's price has dipped below 118,000 USDT, currently trading at 117,777.007813 USDT, reflecting a 2.29% decline over the past 24 hours.
Market Shows Signs of Stability After Correction
Chris Burniske, a partner at Placeholder VC, highlights that the cryptocurrency market is gradually stabilizing after experiencing a minor correction.
ARKK Sees $5.518 Billion in Weekly Inflows
ARKK has experienced remarkable fund inflows of $5.518 billion in just one week, according to Bloomberg ETF analyst Eric Balchunas. Year-to-date, ARKK has attracted $4.683 billion with a return rate of 37.24%, outperforming other funds like VOO and QQQ.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
2 hours ago
- Mint
Jerome Powell will make his last stand at Jackson Hole
Federal Reserve Chair Jerome Powell will take the stage next Friday at the Fed's annual Jackson Hole Economic Symposium to deliver what may be the defining speech of his career. The speech won't be lengthy—last year's version clocked in at just over 15 minutes—but with his term as chair ending next May and the Fed's performance under attack by the Trump administration, Powell may see Jackson Hole as his last or, at least, his best chance to cement his legacy and make the case for the central bank's independence. The annual symposium, hosted by the Federal Reserve Bank of Kansas City, attracts the world's most influential central bankers, who will meet on Aug. 21-23 at the Jackson Lake Lodge in Wyoming's Grand Teton National Park. This year's conference, titled 'Labor Markets in Transition," will focus on structural forces such as demographics, productivity, and immigration that are reshaping the U.S. job market and the broader economy. The theme also speaks to the central challenge of Powell's term: how to navigate structural changes in the economy while fulfilling the Fed's dual mandate of price stability and maximum employment. Steering monetary policy in the face of political hostility has become a parallel challenge this year. President Donald Trump, whose second term began on Jan. 20, has berated Powell for the Fed's failure to cut interest rates, calling him a 'stubborn MORON" and 'Too Late." Trump has also accused Powell of mismanaging the $2.5 billion renovation of the Fed's Marriner S. Eccles building in Washington, D.C., and suggested firing the Fed chair before his term ends. The White House is already vetting potential replacements, focusing on candidates willing to cut rates quickly and, in some cases, restructure the Fed. Powell's reluctance until now to lower the federal-funds rate from a current target range of 4.25%-4.50% stems chiefly from concerns that Trump's tariff policy may worsen inflation, which ran at an annual rate of 2.7% in July, as measured by the consumer price index. Political interference in central-bank affairs has precedent. Pressure from the Nixon administration in the 1970s helped push then–Fed Chair Arthur Burns to keep interest rates low despite rising inflation, a decision that contributed to double-digit price growth. Burns' successor, Paul Volcker, was forced to raise rates to nearly 20% to break inflation, sparking a deep recession. More recently, Turkey's president repeatedly ousted central-bank governors who raised interest rates, sending inflation above 80% and eroding the Turkish lira's value against the dollar. The lira has fallen by 82% in the past five years. Once a central bank is seen as an extension of the ruling party, its ability to control prices can quickly collapse. Powell joined the Fed Board of Governors in 2012, and was nominated as chair by Trump in 2017. He assumed the role in February 2018, and was later reappointed by President Joe Biden to a term that began in May 2022. This will be Powell's 13th year attending Jackson Hole, and it may be his last. Although his term as chair runs until May 2026, few expect him to stay on as a Fed governor until that term ends in January 2028. Powell's tenure as chair has been defined by shocks, in particular the eruption of the Covid-19 pandemic in the U.S. in early 2020, which triggered the fastest and deepest economic contraction since World War II. The Fed was forced to take extraordinary policy actions, including emergency rate cuts and unprecedented bond buying, to prop up the economy and infuse liquidity into the financial system. When inflation surged in 2021—as a result of these actions, critics say—Powell's initial assessment that it would be 'transitory" proved wrong. Inflation eventually hit a high of 9.1% in June 2022, damaging the Fed's credibility and necessitating one of the most aggressive tightening campaigns in Fed history. Fed officials hiked rates 11 times, starting in March 2022, lifting the federal-funds rate from near zero to more than 5%. The effort was largely successful. The Fed's preferred inflation gauge, the core personal consumption expenditures, or PCE, price index, has fallen to 2.8% annually without triggering the recession that many economists feared, although inflation remains stubbornly above the central bank's 2% annual target. Unemployment, meanwhile, has ranged from 4.1% to 4.3% in recent months. By the Fed's own standards, this qualifies as a version of the elusive soft landing. The path forward looks more challenging, however, and less certain. Wage growth has slowed from a 6% annual rate in 2022 to about 3.9%. U.S. employers added just 73,000 jobs in July, and payroll totals for May and June were revised downward by more than a quarter-million. Inflation readings have moved higher this summer, and tariffs are beginning to push up some import prices. Core CPI, which excludes food and energy, rose by 0.3% in July, the largest increase since January, while the annual rate of inflation hit 3.1%. The producer price index, a measure of wholesale inflation, jumped 0.9% last month, the largest monthly increase in more than three years, the Bureau of Labor Statistics reported on Thursday. The data indicated that tariffs could be causing businesses to raise the prices they charge one another, which probably will lead to higher consumer prices over time. 'You have to think of this as still quite early days" for tariff-related inflation, Powell said in July. Reciprocal tariffs on U.S. imports, which the White House has imposed in stages this year, are 'likely to generate a rise in inflation, a slowdown in economic growth, and an increase in unemployment," Powell has said. Trump and his advisors notably disagree. In Powell's view, tariffs complicate every decision the Fed might make from here. Cut rates too aggressively and risk fueling inflation. Hold rates steady at current levels and risk further erosion in job growth and higher unemployment. All of this should make for a 'live," or undecided meeting when the Federal Open Market Committee, the Fed's policy arm, convenes again on Sept. 16-17. The fed-funds futures market currently puts more than 92% odds on a quarter-percentage-point rate cut in September, which would be the first reduction this year, although two Fed governors dissented from the FOMC's decision in July to leave rates unchanged, arguing the Fed should have cut rates at that meeting to prevent further deterioration of the labor market. Treasury Secretary Scott Bessent suggested on Wednesday that the Fed might consider cutting rates by half a percentage point in September, given recent job-market data. At the same time, some prominent investment analysts and economists aren't convinced of the need for a September rate cut. Given the latest inflation reports, 'we see risk of the Fed potentially cutting fewer times than market expectations," wrote Chris Senyek, chief investment strategist at Wolfe Research, in a note on Aug. 14. Jackson Hole, he added, may be seen 'as a chance for Fed Chair Powell to take a hawkish stance on interest-rate policy." Every five years the Fed undertakes a review of its monetary-policy framework. As part of this year's review, officials are contemplating a potential change in how the Fed evaluates employment. William English, a former senior Fed official and current professor at the Yale School of Management, expects the central bank to return to describing 'deviations" from maximum employment, rather than 'shortfalls," a small semantic change that matters. It implies that both an overheated and a cooling labor market are problems to be addressed, giving the Fed equal justification to raise rates when the job market is too hot or cut them when it cools. Powell won't preview the Fed's September interest-rate decision at Jackson Hole. But his speech, titled 'Economic Outlook and Framework Review," can still send important signals about how the Fed will assess the economy, account for tariffs, and communicate in the future. Powell will spend much of his Aug. 22 speech, which begins at 10 a.m. Eastern Time, addressing that framework review, which the 19 members of the FOMC will vote on at some point later this summer. Past reviews have led to lasting changes such as formal inflation targeting, changed forward guidance, and altered labor-market goals. This year's review could establish principles for how to deal with supply shocks, and re-evaluate the balance between the two sides of the Fed's dual mandate. Any adjustments to the framework could enshrine policy changes that last beyond Powell's tenure. That is one way to protect the Fed's ability to act on its mandate without having to argue for its independence. Trump's public pressure campaign has made monetary policy a national political story. That is just fine with Fed critics, who disdain Powell's 'data dependent" approach to setting rates, the Fed's asset-buying binge, and what they consider the institutional bloat of recent years. But the attention also carries risks, in particular the risk that any policy decision will be seen as politically motivated. If the Fed loses credibility, its rate moves may become less effective and the dollar may suffer. Fed officials declined to comment. To be sure, the Fed's independence has never been absolute. The central bank exists at the pleasure of Congress, and ultimately depends on public support. The Fed operates within the political system, not outside it. Powell seems to understand what's at stake. 'My sense is that he sees his legacy as preserving the independence of the Fed," says Joe Brusuelas, chief economist at RSM US. That legacy won't be sealed at Jackson Hole, but the conference will showcase how Powell balances three separate and increasingly intertwined roles: managing an economy in transition, navigating political hostility, and refining a decision-making framework strong enough to withstand interference by any politician or party. If he can show that the Fed will continue to judge the economy on its merits, explain its reasoning clearly, and preserve the tools it needs to do its job, he may achieve more in the long run than timing rate changes perfectly. Jackson Hole sits at an elevation of 6,200 feet, where the thin air sharpens some minds and makes others lightheaded. This coming week, it will test more than altitude tolerance. It will measure whether the U.S. central bank can still breathe on its own. English, for one, is unsure. 'People may look back wistfully at the Powell Fed as a central bank that was independent, hard-thinking, and trying to do the right thing," he says. As in the mountains, everything depends on your view. Write to Nicole Goodkind at
Time of India
8 hours ago
- Time of India
Cryptocurrency Live News & Updates : XLM Price Approaches Breakout as Key Metrics Surge
16 Aug 2025 | 11:35:13 PM IST Stellar Lumens (XLM) is nearing a breakout, trading at $0.43, nearly doubling since July, driven by record network activity and an upcoming protocol upgrade. Stellar Lumens (XLM) is experiencing significant momentum, with its price nearly doubling since July, currently at $0.43. This surge is attributed to record network activity and an anticipated protocol upgrade. Meanwhile, Bitcoin (BTC) has pulled back from its recent all-time high of $124,420 to $117,760, as market expectations for Federal Reserve interest rate cuts have diminished, raising concerns about stagflation. Prominent investor Huang Licheng, known as 'Machi Big Brother,' faces $5.1 million in unrealized losses, underscoring the volatility in the crypto market. Conversely, Bitcoin's recent surge has been fueled by institutional buying and supportive U.S. policies, with predictions suggesting it could reach $150,000 by 2025. In the Ethereum space, ETFs saw a $59 million outflow as ETH retreated from near all-time highs, indicating profit-taking behavior among investors. The interplay of these developments highlights the dynamic nature of the cryptocurrency market, where investor sentiment and macroeconomic factors significantly influence price movements. Show more
Economic Times
11 hours ago
- Economic Times
US stock market prediction: Will Nasdaq, S&P 500, Dow Jones slip or rise on Monday? Check lucrative stocks
US stock Market Synopsis Nasdaq, S&P 500 are on a winning run but there is a big development related to US Fed interest rate cut. US Stock Market indexes -- Dow Jones, S&P 500, and Nasdaq -- will look to maintain its positive run at the Wall Street. However, investors will keep close eyes on the Federal Reserve and Fed Chair Jerome Powell to check whether there will be interest rate cut or not. U.S. stocks edged back from their record levels on Friday in a quiet finish to another winning week. The S&P 500 slipped 0.3 per cent from the all-time high it set the day before, as it closed its fourth winning week in the last five. The Dow Jones Industrial Average flirted with its own record, which was set in December, before ending just below the mark with a rise of 34 points, or 0.1 per cent. The Nasdaq composite dipped 0.4 per cent, though it's still near its record set on Wednesday. ADVERTISEMENT The U.S. stock market reached all-time highs this past week as expectations built that the Federal Reserve will deliver a cut to interest rates at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, but they also risk worsening inflation. Companies likely to benefit most from lower borrowing costs have been among the big winners in recent Wall Street trading, said Andrew Slimmon, head of Applied Equity Advisors at Morgan Stanley Asset Management. Shares of leading homebuilders such as PulteGroup, Lennar, and D.R. Horton are up between 4.2 per cent and 8.8 per cent in the last week, as of midday Friday, thanks largely to the recent drop in mortgage lending gains trounced the 1 per cent rally in the Standard & Poor's 500 index over the last week. The group has outpaced the broader market more dramatically over the last month, with gains of 15 per cent to 22 per cent compared to 3.3 per cent for the S&P 500. But their future gains hinge on mortgage rates continuing to fall, something that a recent uptick in 10-year Treasury bond yields puts into question. ADVERTISEMENT Q1. What are US Stock Market indexes?A1. US Stock Market indexes are Dow Jones, S&P 500, and Nasdaq. ADVERTISEMENT Q2. Which stocks have gone up?A2. Shares of leading homebuilders such as PulteGroup, Lennar, and D.R. Horton are up between 4.2 per cent and 8.8 per cent in the last week, as of midday Friday, thanks largely to the recent drop in mortgage lending rates. (You can now subscribe to our Economic Times WhatsApp channel) US stock market outookNasdaqDow JonesUS stock market prediction (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates. NEXT STORY
