Latest news with #CynthiaLummis
Bloomberg
a day ago
- Business
- Bloomberg
Stablecoin Market Cap Soars
"Bloomberg Crypto" covers the people, transactions, and technology shaping the world of decentralized finance. On the show today, (R) Wyoming Sen. Cynthia Lummis and Fireblocks Co-Founder and CEO Michael Shaulov. (Source: Bloomberg)
Yahoo
5 days ago
- Business
- Yahoo
Senator Cynthia Lummis' son-in-law is not a fan of Ripple
Senator Cynthia Lummis' son-in-law is not a fan of Ripple originally appeared on TheStreet. Brad Garlinghouse, the billionaire CEO of the blockchain and payments firm Ripple, recently decried Sen. Cynthia Lummis (R-WY) cancelling a meeting with him. As previously reported, Garlinghouse claimed on May 19 that Sen. Lummis — who chairs the Digital Assets Subcommittee — cancelled a meeting with him, which she won't reschedule. Even though President Donald Trump has included XRP among the cryptocurrencies that will make up the U.S. digital assets stockpile, Sen. Lummis is a Bitcoin maximalist. In fact, the BITCOIN Act introduced by Lummis aims to legislate Trump's executive order to establish a strategic Bitcoin reserve. However, it seems there is more to the senator reportedly cancelling the meeting than meets the eye. Sen. Lummis's son-in-law, Will Cole, is also a Bitcoin maximalist like her. Not only that, he frequently criticizes Ripple, underlined a popular crypto account on X called The user pointed out to Garlinghouse that Cole has been sharing Catholic Bitcoin CEO Pierre Rochard's posts criticizing Ripple for the company's alleged anti-Bitcoin and pro-CBDC stances. Garlinghouse responded to the post, saying it was "enlightening" to know that Cole is related to Sen. Lummis. "I really have to wonder if this was Sen. Lummis or someone on her staff making this decision," he added. Crypto lawyer Bill Morgan also shared screenshots of Cole's posts from 2021 and 2022 criticizing Ripple and XRP for its alleged centralized model. Bitcoin vs. XRP discourse isn't new. While the former is the largest cryptocurrency, the latter is the fourth-largest cryptocurrency. While Ripple is criticized for its centralized leadership, Bitcoin is criticized for its adverse environmental impact. In 2023, a Canadian artist Benjamin Von Wong teamed up with Greenpeace USA to create an art installation called the "Skull of Satoshi" to raise awareness about Bitcoin's energy usage. Guess who else turned up to support the initiative? Ripple co-founder Chris Larsen. Though the Bitcoin community embraced the installation soon enough, the Ripple CEO recently made an effort to bridge the gap between different crypto communities by donating the installation to the community. BTC, XRP, and other crypto communities have "more in common than we think," Garlinghouse said. There is a political overture to the Bitcoin vs. XRP discourse as well. Ripple has made significant political donations to Trump — including the firm's chief legal officer Stuart Alderoty personally donating $300,000 in XRP to Trump's 2024 presidential campaign and Ripple Labs donating $5 million in XRP to his inaugural committee. Ripple, which had been battling a years-long securities violations case with the Securities and Exchange Commission (SEC), saw the regulator attempting to settle with it following Trump's election victory. But the Democratic presidential candidate Kamala Harris's campaign also found support at Ripple. Co-founder Chris Larsen donated $10 million worth of XRP to Harris during the campaign. It is, however, not uncommon for companies to make donations to both parties during election campaigns. Since Trump's inauguration, XRP has declined 25% in value to trade at $2.20 at press time, as per Kraken. Though Bitcoin's value has declined 4% since Trump's inauguration, his coming to power has only led to the king coin's surge. BTC first hit its record high of $109,241 on Jan. 20, ahead of his inauguration ceremony. It then recently hit another record high of $111,970.17 on May 22. As per Kraken, it was trading at $104,759.32 at press time. Senator Cynthia Lummis' son-in-law is not a fan of Ripple first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Analyst warns of market complacency as Bitcoin, XRP trades flat for 7 days straight
Analyst warns of market complacency as Bitcoin, XRP trades flat for 7 days straight originally appeared on TheStreet. After a turbulent few months, the crypto market seems bored. Bitcoin is holding steady above $105,000, with a modest 2.5% weekly gain. Ethereum is flat around $2,592, while Solana and XRP are up around 8%. The numbers aren't bad—but the lack of direction is making some analysts uneasy. According to Singapore-based trading firm QCP Capital, this isn't just a lull—it's a warning sign. 'Volatility across most asset classes continues to drift lower,' QCP analysts said in a note seen by TheStreet Roundtable. 'Markets appear increasingly inured to negative developments, brushing off headlines that might once have sparked more significant reactions.' It's not like there's a shortage of news. Tariff shocks, rising debt, and central bank signals are all out there. But the market isn't flinching. Bond yields are retreating, too—U.S. 10-year and 30-year yields have dipped below 4.5% and 5%, and Japan's 30-year JGB is under 3%. Traders, for now, are unfazed. QCP says this stretch of calm has pushed us into a sort of 'Goldilocks zone,' where things feel just right—but maybe too right. 'It will take time for companies and consumers to adjust pricing and spending patterns,' they said, referring to the recent tariff policy. 'Only in Q3 are we likely to see these dynamics reflected in the numbers.' If that sounds like a setup for surprise volatility later this year, that's because it is. The Federal Reserve appears to be on the same page—downplaying short-term data unless the economy shows serious signs of stress. Upcoming U.S. Treasury auctions in June for 10, 20, and 30-year bonds will be key tests. Japan is also adjusting issuance of long-dated paper in response to tepid demand. Meanwhile, the crypto market is still waiting for policy clarity. Progress on digital assets under the Trump administration has been slow, but there are signs of momentum. Senator Cynthia Lummis recently made headlines in Las Vegas with bold remarks about stablecoin regulation and the idea of a national Bitcoin Strategic Reserve. 'The Conference may offer the jolt needed to revive White House engagement,' QCP wrote. And that might not be all. Trump Media is reportedly looking to raise $2.5 billion and join other corporates like Strategy and Metaplanet in building a Bitcoin reserve—a structural bid that could offer some support. For now, the market looks healthy on the surface. Trading volumes remain strong—Bitcoin alone saw over $43 billion in daily volume, and altcoins like DOGE and ADA are outperforming with weekly gains over 10%. But it's all happening in a strangely quiet environment. QCP's warning is that don't get too comfortable. The market may not react today—but that doesn't mean it won't tomorrow. Analyst warns of market complacency as Bitcoin, XRP trades flat for 7 days straight first appeared on TheStreet on May 30, 2025 This story was originally reported by TheStreet on May 30, 2025, where it first appeared. 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
Forbes
28-05-2025
- Business
- Forbes
Bitcoin Vegas: 10 Moments That Can't Be Missed In The Bull Run
Bitcoin Vegas 2025 (Photo by Jakub Porzycki/NurPhoto via Getty Images) Las Vegas is no stranger to bold bets—but at Bitcoin 2025, the stakes weren't just financial. This year's conference was the strongest signal yet that Bitcoin is crossing the chasm from a niche asset into a cornerstone of the global financial system. Held in the heat of the Nevada desert and the heat of Bitcoin's bull run, it attracted policymakers, builders, institutional investors, and an increasingly diverse wave of new adopters. The tone was clear: Bitcoin is here to build. Here are the 10 most compelling moments that defined today's events—and why they matter. One of the most inspiring gatherings of the entire conference wasn't held on the main stage—it was at the Women of Bitcoin Brunch, where over 500 women came together to celebrate Bitcoin's growing role in financial freedom and inclusion. Led by Natalie Brunell of Coin Stories and sponsored by Mara, the event featured open dialogue on how Bitcoin empowers women globally, especially in regions where traditional banking falls short. Among the special guests: Senator Cynthia Lummis, a fierce crypto advocate, who emphasized that Bitcoin represents not only financial opportunity—but generational transformation. Women of Bitcoin Vegas 2025 The event also launched a new scholarship initiative to support young women entering the Bitcoin space. The youngest attendee? Just 12 years old. The signal: Bitcoin's next generation is already here. In a major policy announcement, Senator Lummis revealed that the much-anticipated Strategic Bitcoin Reserve Act will soon be introduced on the Senate floor. The bill proposes that the U.S. Treasury acquire 1 million Bitcoin as part of a long-term national reserve strategy. Senator Lummis speaking at Bitcoin Vegas This move would mark a monumental shift in how sovereign entities treat Bitcoin—positioning the U.S. as not just a regulator of crypto, but a strategic holder. It's the clearest indication yet that Bitcoin is entering the halls of power in a real and irreversible way. Block, formerly Square, announced that its Point of Sale systems will soon support Bitcoin Lightning payments, making Bitcoin acceptance seamless for merchants. The rollout begins in late 2025 and is expected to reach all eligible sellers by 2026, pending regulatory approvals. This means millions of businesses could soon accept Bitcoin with low fees and near-instant settlement, simply by scanning a QR code. Block's integration will also abstract away backend complexity—converting and settling payments behind the scenes. For the end user, Bitcoin becomes as easy to use as Apple Pay. One of the more unconventional moments came from the exhibitor floor, where companies showcased how Bitcoin mining can now be done at home—and with surprising benefits - where you can earn bitcoin! This is very similar to the DePin devices that enable everyone to earn a passive income. MeinCoffee demoed a countertop miner that doubles as a coffee warmer, while Solo Mining Co. introduced wax melters that mine Bitcoin while creating a pleasant home scent. As Duncan Coombe put it, 'Why shouldn't mining smell like vanilla and yield sats?' Duncan Coombe showcasing a MeinCoffee This marks a trend toward consumer-friendly mining hardware, unlocking passive income for everyday users. Hot off a successful IPO in May, trading platform eToro brought major energy to the show floor. U.S. CEO Andrew McCormick emphasized the company's growing focus on digital assets and its ambition to bridge the gap between traditional retail investors and crypto markets. In speaking with Andrew McCormick, Head of eToro US, he told me, "As a platform dedicated to opening access to crypto and capital markets, eToro works to empower users to trade, share, learn and invest in a way that suits their unique needs. It's a honor to now be a part of their investment choices as a publicly traded company. Listing on Nasdaq is a milestone along our journey and we plan to continue to push boundaries to meet the evolving needs of the retail investor.' With new investment products and a larger war chest, eToro is positioning itself as a central on-ramp to Bitcoin for the next wave of investors. In a statement that mixed politics with policy, Donald Trump Jr. emphasized that 'the U.S. should be long on crypto,' announcing plans to build a $2.4 billion Bitcoin treasury. While polarizing, the move continues a trend of political voices embracing Bitcoin as a national asset class. The overlap between Bitcoin advocacy and campaign strategy is clearly growing, especially heading into an election cycle where digital assets are poised to be a talking point. David Sacks, a founding member of the 'PayPal Mafia' and influential investor, delivered a succinct but powerful endorsement: 'Bitcoin is the financial system of the future.' Coming from someone who helped architect modern digital payments, the statement underscores a generational shift away from fiat rails and toward decentralized value transfer. Lindey Magee launched a beautifully illustrated children's book, Bitcoin: A Treasure to Hodl, with artwork by Kenny Nnoli. Targeted at children as young as five, the book simplifies the story and technology behind Bitcoin. Lindey Magee launched a children's book, Bitcoin: A Treasure to Hodl, with artwork by Kenny Nnoli In a space where generational education is critical, this type of content is vital to helping families understand and engage with decentralized finance. In addition to Senator Lummis, elected officials from New Hampshire, Ohio, and West Virginia attended the conference—many for the first time. Senator Justice and others participated in discussions about Bitcoin's role in financial innovation, monetary policy, and the next era of infrastructure investment. The bipartisan presence of policymakers reflects a maturing dialogue between the crypto industry and Washington. Bitcoin isn't just for burgers anymore. Steak 'n Shake's CEO revealed that customers can now pay for burgers and full franchise fees using Bitcoin. Purchasing a burger with Bitcoin This signals a growing trend of deep integration between BTC and business models. For franchisees, it's a step toward fully on-chain business operations—from investment to revenue flow. In past years, Bitcoin conferences were dominated by speculation, maximalism, and memes. This year felt different. Starting with yesterday's soft kick-off, we've seen: More infrastructure. More policy. More diversity. More utility. Bitcoin Vegas 2025 was less about 'when Lambo' and more about 'when legislation.' Less about hodling in silence and more about building, educating, and scaling for the next billion users. Tomorrow I'll be diving into the next set of speakers and community events. Until then, let this conference be a reminder: Bitcoin isn't just alive—it's you enjoy this story about the first day of Bitcoin Vegas? Don't miss my next one: Use the blue follow button at the top of the article near my byline to follow more of my work.
Forbes
28-05-2025
- Business
- Forbes
Bitcoin Vegas: Ten Moments That Can't Be Missed In The Bull Run
Las Vegas is no stranger to bold bets—but at Bitcoin 2025, the stakes weren't just financial. This year's conference was the strongest signal yet that Bitcoin is crossing the chasm from a niche asset into a cornerstone of the global financial system. Held in the heat of the Nevada desert and the heat of Bitcoin's bull run, it attracted policymakers, builders, institutional investors, and an increasingly diverse wave of new adopters. The tone was clear: Bitcoin is here to build. Here are the 10 most compelling moments that defined today's events—and why they matter. One of the most inspiring gatherings of the entire conference wasn't held on the main stage—it was at the Women of Bitcoin Brunch, where over 500 women came together to celebrate Bitcoin's growing role in financial freedom and inclusion. Led by Natalie Brunell of Coin Stories and sponsored by Mara, the event featured open dialogue on how Bitcoin empowers women globally, especially in regions where traditional banking falls short. Among the special guests: Senator Cynthia Lummis, a fierce crypto advocate, who emphasized that Bitcoin represents not only financial opportunity—but generational transformation. Women of Bitcoin Vegas 2025 Sandy Carter The event also launched a new scholarship initiative to support young women entering the Bitcoin space. The youngest attendee? Just 12 years old. The signal: Bitcoin's next generation is already here. In a major policy announcement, Senator Lummis revealed that the much-anticipated Strategic Bitcoin Reserve Act will soon be introduced on the Senate floor. The bill proposes that the U.S. Treasury acquire 1 million Bitcoin as part of a long-term national reserve strategy. Senator Lummis speaking at Bitcoin Vegas Bitcoin Conference This move would mark a monumental shift in how sovereign entities treat Bitcoin—positioning the U.S. as not just a regulator of crypto, but a strategic holder. It's the clearest indication yet that Bitcoin is entering the halls of power in a real and irreversible way. Block, formerly Square, announced that its Point of Sale systems will soon support Bitcoin Lightning payments, making Bitcoin acceptance seamless for merchants. The rollout begins in late 2025 and is expected to reach all eligible sellers by 2026, pending regulatory approvals. This means millions of businesses could soon accept Bitcoin with low fees and near-instant settlement, simply by scanning a QR code. Block's integration will also abstract away backend complexity—converting and settling payments behind the scenes. For the end user, Bitcoin becomes as easy to use as Apple Pay. One of the more unconventional moments came from the exhibitor floor, where companies showcased how Bitcoin mining can now be done at home—and with surprising benefits - where you can earn bitcoin! This is very similar to the DePin devices that enable everyone to earn a passive income. MeinCoffee demoed a countertop miner that doubles as a coffee warmer, while Solo Mining Co. introduced wax melters that mine Bitcoin while creating a pleasant home scent. As Duncan Coombe put it, 'Why shouldn't mining smell like vanilla and yield sats?' Duncan Coombe showcasing a MeinCoffee Sandy Carter This marks a trend toward consumer-friendly mining hardware, unlocking passive income for everyday users. Hot off a successful IPO in May, trading platform eToro brought major energy to the show floor. U.S. CEO Andrew McCormick emphasized the company's growing focus on digital assets and its ambition to bridge the gap between traditional retail investors and crypto markets. In speaking with Andrew McCormick, Head of eToro US, he told me, "As a platform dedicated to opening access to crypto and capital markets, eToro works to empower users to trade, share, learn and invest in a way that suits their unique needs. It's a honor to now be a part of their investment choices as a publicly traded company. Listing on Nasdaq is a milestone along our journey and we plan to continue to push boundaries to meet the evolving needs of the retail investor.' With new investment products and a larger war chest, eToro is positioning itself as a central on-ramp to Bitcoin for the next wave of investors. In a statement that mixed politics with policy, Donald Trump Jr. emphasized that 'the U.S. should be long on crypto,' announcing plans to build a $2.4 billion Bitcoin treasury. While polarizing, the move continues a trend of political voices embracing Bitcoin as a national asset class. The overlap between Bitcoin advocacy and campaign strategy is clearly growing, especially heading into an election cycle where digital assets are poised to be a talking point. David Sacks, a founding member of the 'PayPal Mafia' and influential investor, delivered a succinct but powerful endorsement: 'Bitcoin is the financial system of the future.' Coming from someone who helped architect modern digital payments, the statement underscores a generational shift away from fiat rails and toward decentralized value transfer. Lindey Magee launched a beautifully illustrated children's book, Bitcoin: A Treasure to Hodl, with artwork by Kenny Nnoli. Targeted at children as young as five, the book simplifies the story and technology behind Bitcoin. In a space where generational education is critical, this type of content is vital to helping families understand and engage with decentralized finance. In addition to Senator Lummis, elected officials from New Hampshire, Ohio, and West Virginia attended the conference—many for the first time. Senator Justice and others participated in discussions about Bitcoin's role in financial innovation, monetary policy, and the next era of infrastructure investment. The bipartisan presence of policymakers reflects a maturing dialogue between the crypto industry and Washington. Bitcoin isn't just for burgers anymore. Steak 'n Shake's CEO revealed that customers can now pay for burgers and full franchise fees using Bitcoin. Purchasing a burger with Bitcoin Sandy Carter This signals a growing trend of deep integration between BTC and business models. For franchisees, it's a step toward fully on-chain business operations—from investment to revenue flow. In past years, Bitcoin conferences were dominated by speculation, maximalism, and memes. This year felt different. Starting with yesterday's soft kick-off, we've seen: More infrastructure. More policy. More diversity. More utility. Bitcoin Vegas 2025 was less about 'when Lambo' and more about 'when legislation.' Less about hodling in silence and more about building, educating, and scaling for the next billion users. Tomorrow I'll be diving into the next set of speakers and community events. Until then, let this conference be a reminder: Bitcoin isn't just alive—it's you enjoy this story about the first day of Bitcoin Vegas? Don't miss my next one: Use the blue follow button at the top of the article near my byline to follow more of my work.
