$4 trillion crypto market hits milestone on stablecoin bill push
The milestone followed the passage of the first-ever federal legislation for stablecoins, a key accomplishment during what lawmakers have dubbed "
Crypto
Week."
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The bill, backed by Republicans and championed by President Donald Trump, introduces federal or state oversight of dollar-linked
stablecoin
, aiming to legitimise a $265 billion market that Citigroup Inc. analysts project could grow to $3.7 trillion by 2030.
Altcoins - a catch-all term for tokens besides Bitcoin - led the latest leg of the rally, with Ether jumping 22% over the past five days. Bitcoin, the industry's benchmark asset, hit a record $123,205 earlier this week. Uniswap surged as much as 24% on Friday, while Solana gained 6.5% at one point.
Thursday also saw the House pass a broader
crypto market
structure bill, which now awaits Senate consideration.
Live Events
Investors have continued to flood into US-listed crypto ETFs. Bitcoin funds have attracted $5.5 billion in inflows so far in July, while Ether ETFs brought in $2.9 billion.
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Hindustan Times
a minute ago
- Hindustan Times
Committed to fair, balanced deal, says India after Trump announces 25% tariffs
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'The government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, and MSMEs,' the ministry said, adding that it 'will take all steps necessary to secure our national interest, as has been the case with other trade agreements including the latest Comprehensive Economic and Trade Agreement with the UK.' Indian officials and experts pushed back against Trump's characterisation of excessive trade barriers, arguing that his focus on goods trade deficit ignores the broader economic relationship where the US earns tens of billions more annually from services, education, and defence deals, and cited New Delhi's recent free trade agreements with developed economies such as Australia and the UK to demonstrate India's willingness to open up its market with protections for its vulnerable populations . 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India.com
a minute ago
- India.com
Trump's 25% Tariff Bomb On India Explained: How It Impacts Trade, GDP, Oil And Defence Links
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