Latest news with #BradyDale
Yahoo
a day ago
- Business
- Yahoo
Crypto legislation just had a 'gigantic' week. Here's why.
Bitcoin (BTC=F) is holding above $100K despite market jitters tied to tensions in the Middle East. Axios crypto reporter Brady Dale joins Morning Brief host Brad Smith to break down the pivotal week in crypto legislation and what congressional stablecoin action could mean for bitcoin. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Bitcoin is still holding above the $100,000 level but losing some ground as stocks slump amid increasing Mideast tension. We're taking a look at crypto-related stocks as well, including Coinbase, also largely lower along with the broader market. So does this spell the end of the Rico rally for right now, or could impending legislation. And a crypto friendly administration proved to be a boost. I wanna bring in Brady Dale, Axio's crypto reporter here. Brady, good to have you back on the program with us. Just take us into your evaluation of what the mindset around riskier portions of the investment thesis, riskier assets like crypto, especially within the broader playing out of the Middle East tensions right now, how that is typical and what we should expect this time around. Yeah, I mean, I think probably what investors are looking at is does this war get a lot worse? And so I think that's why some people backed out. Now, keep in mind, the amount that, uh, Bitcoin is down right now is roughly 2% and, in the crypto markets, that could have just been like a very lackluster Tuesday. You know, I mean, the markets can easily move that much on nothing at all. So really this is kind of a smaller shift down than I would have. Expected for something that could end up being so much bigger than it has become so far. Yeah, certainly. It's also been a big week we know for cryptocurrency. You've got everyone from the president even opining in and weighing in. I saw our own Brian Sazi, executive editor, post a video where even at the most recent conference that was taking place here in New York, there is still within the conversation this willingness or want and desire. To make sure that the administration is positioning itself as continuously crypto friendly, how's that playing out? I mean this was a gigantic week in crypto legislation, um, you know, more in the Congress side, um, genius, the Genius Bill, which is about stablecoins, uh, got a cloture vote for a second time in the Senate, teamed up for a very likely final passage vote sometime I think we're looking at Tuesday right now, uh, and so that's been a big fight in the Senate and then over in the House, uh, two different committees, uh, the Ad committee and the House Financial Services Committee. Voted the Clarity Act to the floor, and that's an act that would just sort of decide how disclosures and regulations would work for cryptocurrency. And then on top of that, the final big regulator got a hearing in the in the Senate, Brian Quintends the CFTC. So it was a gigantic week in crypto legislation. If the stablecoin legislation is able to move forward, what what does that mean for, of course, the poster child of crypto in in Bitcoin? Uh, yeah, that is the big interesting question. You know, historically, thus far, when, uh, there has been more activity of really any kind in the cryptocurrency market, like, you know, your viewers might remember the ICO craze of 2017, which was really all about Ethereum, that drove a ton of, uh, value to Bitcoin regardless. So that's what we'd expect. But you know, it could be that these things are starting to decouple. You know, stablecoins are a financial utility. People can use them for a lot of reasons that have nothing to do with Bitcoin, so it could be that stablecoins explode and we see a modest bump to Bitcoin, but no direct gigantic gain. Or it could be that the explosion of stablecoins brings a lot more energy to Bitcoin. We just, we just don't know right now. I mean, we're entering into a very new world. Yeah, I imagine some of the prominent profiles that were promoting ICOs, and then got dinged by the SEC certainly remember that period very well. Barry, thanks so much for taking the time. Thank you.
Yahoo
2 days ago
- Business
- Yahoo
Crypto legislation just had a 'gigantic' week. Here's why.
Bitcoin (BTC=F) is holding above $100K despite market jitters tied to tensions in the Middle East. Axios crypto reporter Brady Dale joins Morning Brief host Brad Smith to break down the pivotal week in crypto legislation and what congressional stablecoin action could mean for bitcoin. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
2 days ago
- Business
- Yahoo
Crypto legislation just had a 'gigantic' week. Here's why.
Bitcoin (BTC=F) is holding above $100K despite market jitters tied to tensions in the Middle East. Axios crypto reporter Brady Dale joins Morning Brief host Brad Smith to break down the pivotal week in crypto legislation and what congressional stablecoin action could mean for bitcoin. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Bitcoin still holding above the $100,000 level but losing some ground as stocks slump amid increasing Mideast tension. We're taking a look at crypto related stocks as well, including Coinbase, also largely lower along with the broader market. So, does this spell the end of the risk on rally for right now or could impending legislation and a crypto-friendly administration prove to be a boost? I want to bring in Brady Dale, Axios's crypto reporter here. Brady, good to have you back on the program with us. Just take us into your evaluation of what the mindset around riskier portions of the investment thesis, riskier assets like crypto, especially within the broader playing out of the Middle East tensions right now. How that is typical and what we should expect this time around? Yeah, I mean, I think probably what investors are looking at is, does this war get a lot worse? And so, I think that's why some people backed out. Now, keep in mind the amount that Bitcoin is down right now is roughly 2%, and in the crypto markets, that could have just been like a very lackluster Tuesday. You know, I mean, the markets can easily move that much on nothing at all. So really, this is kind of a smaller shift down than I would have expected for something that could end up being so much bigger than it has become so far. Yeah, certainly. It's also been a big week, we know for cryptocurrency. You've got everyone from the president even opining in and weighing in. I saw our own Brian Sozzi, executive editor, post a video where even at the most recent conference that was taking place here in New York, um, there is still within the conversation this willingness or want and desire to make sure that the administration is positioning itself as continuously crypto-friendly. How's that playing out? I mean, this was a gigantic week in crypto legislation. Um, you know, more in the Congress side. Um, genius, uh, the genius bill, which is about stable coins, uh, got a closure vote for a second time in the Senate, teed it up for a very likely final passage vote sometime. I think we're looking at Tuesday right now. Uh, and so that's been a big fight in the Senate, and then over in the House, uh, two different committees, uh, the Ag Committee and the House Financial Services Committee voted the clarity act to the floor, and that's an act that would sort of decide how disclosures and regulations would work for cryptocurrency. And then on top of that, the final big regulator got a hearing in the, in the Senate, um, Brian Quinten's the CFTC. So it was a gigantic week in crypto legislation. If the stable coin legislation is able to move forward, what what does that mean for, of course, the poster child of crypto in in Bitcoin? Uh, yeah, that is the big interesting question. You know, historically thus far, when, uh, there has been more activity of really any kind in the cryptocurrency market, like, you know, your viewers might remember the ICO craze of 2017, which was really all about Ethereum. That drove a ton of, uh, value to Bitcoin regardless. So that's what we'd expect, but you know, it could be that these things are starting to decouple. You know, stable coins are a financial utility. People can use them for a lot of reasons that have nothing to do with Bitcoin. So it could be that stable coins explode and we see a modest bump to Bitcoin, but no direct gigantic gain, or it could be that the explosion of stable coins, uh, brings a lot more energy to Bitcoin. We just, we just don't know right now. I mean, we're entering into a very new world. Yeah, I imagine some of the prominent profiles that were promoting ICOs, uh, and then got dinged by the SEC, certainly remember that period very well. Brady, thanks so much for taking the time. Thank you.
Yahoo
28-05-2025
- Business
- Yahoo
How Trump's crypto push complicates stablecoin regulation
US President Trump's crypto ties may have helped legitimize the asset class to hesitant investors, but they also raise ethical concerns and slow down regulation, Axios crypto reporter Brady Dale tells Madison Mills and Brad Smith on Morning Brief. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Sign in to access your portfolio
Axios
19-05-2025
- Business
- Axios
Minnesota cities target crypto ATMs
Several Minnesota cities are considering crackdowns on cryptocurrency ATMs, saying they've become preferred tools for scammers. Why it matters: Fraud at crypto kiosks has skyrocketed in recent years. In more than 5,500 cases nationwide, victims lost over $189 million to schemes involving a crypto ATM in 2023, according to the FBI. City officials say regulations are necessary to spare police resources from the difficult task of solving these crimes: The digital transactions are hard to trace, and victims rarely get full refunds. State of play: Stillwater leaders banned the kiosks last month, and the St. Paul City Council met to discuss its own possible regulations last week. Forest Lake has enacted an ordinance that stops short of a ban, but requires all crypto ATMs to be registered — and would shut down any kiosk that fraudsters use more than once in six months. Plus: Officials in Hastings, Cottage Grove and Woodbury have also considered their own rules, according to news reports. How it works: Crypto kiosks allow users to buy online currencies like Bitcoin, Ethereum or Litecoin with cash. There are more than 200 crypto ATMs from companies like Bitcoin Depot, Coinflip and Athena in Twin Cities grocers, gas stations and liquor stores. Threat level: FBI data suggest seniors are at greatest risk. People over 60 lost nearly two-thirds of the money reported stolen at crypto ATMs in 2023. Case in point: One Maple Grove man's case is typical: A phone scammer convinced the senior to withdraw more than $22,000 in cash from his bank and send it to the scammer through a Bitcoin ATM, KARE11 reported last year. Friction point: A new state law sets transaction limits at kiosks for newly registered customers, but scammers easily avoid this obstacle by sending their victim a QR code that links their deposit to an existing account, state and local enforcement officials say. Between the lines: The crypto ATM era has probably passed, Axios Crypto 's Brady Dale says. The kiosks were once useful when the currencies were harder to buy. Now, most traders are using online marketplaces, which have lower transaction fees. Most kiosks only allow cash deposits and not withdrawals — "which makes these things absolutely useless," Stillwater Mayor Ted Kozlowski told a St. Paul council hearing last week. What they're saying: The kiosks' limited use case has led Stillwater Police Chief Brian Mueller to conclude they're "purely predatory." The other side: Kiosk company Athena Bitcoin "regularly works with law enforcement agencies and is genuinely committed to fighting financial crimes, especially those targeting the elderly population," attorney Robert Musiala told Stillwater officials in a letter, according to the Pioneer Press.
