Bitcoin's price has declined by 2.8% as the CoinDesk 20 index falls, prompting advisors to reconsider their due diligence in the evolving landscape of stablecoins and regulations.
Bitcoin has dropped below $62,000 following strong U.S. job growth data, while Zcash faces a significant crash due to a critical bug. The Fed's potential rate hikes loom as market dynamics shift.
Bitcoin and ether ETFs have halted a record streak of outflows, with spot bitcoin ETFs seeing a modest inflow of $3.05 million after a significant redemption period, while ether ETFs ended their 17-day outflow streak with a $19.30 million inflow led by BlackRock's ETHA.
JPMorgan, Bank of America, and Citi are collaborating to develop a shared tokenized deposit network by 2027, aiming to mitigate the impact of stablecoins on traditional banking deposits.
The Crypto Clarity Act is under scrutiny for its provisions regarding bad actors as the Senate moves forward, with the Blockchain Association advocating for its benefits to law enforcement. Key negotiations between Democrats and Republicans continue as the bill faces a tight deadline.
Reza Bundy, CEO of Atlas Capital and partner of Nouriel Roubini, forecasts a potential 70% drop in bitcoin over the next six months, but expects it to rebound to a range of $150,000 to $500,000 in the long run.
During a congressional hearing, OCC chief Jonathan Gould stated that the only political pressure influencing the decision on World Liberty Financial's bank charter application comes from Democrats, not President Trump. This statement was made in response to questions about the appropriateness of a Trump appointee's involvement in the process.
As the landscape of digital currencies evolves, advisors must reassess crucial due diligence questions regarding cash management, regulatory assumptions, and AI's role in crypto transactions.
Arthur Hayes exits his position in Hyperliquid's HYPE token, causing a 10% drop despite his earlier $150 price target. The move has drawn criticism from traders, citing macroeconomic factors as the reason behind the profit-taking.
The U.S. jobless claims saw an unexpected rise ahead of the upcoming employment report, which could impact interest rate trends. Economists forecast a modest job addition in May, while the unemployment rate is anticipated to remain stable.
Michael Saylor argues that the recent decline in bitcoin is due to a capital shift towards AI investments, countering bearish claims that the cryptocurrency is fundamentally flawed.
Major losses continue for BTC, ETH, SOL, and XRP ETFs, with a staggering $4.4 billion in outflows over the past 13 days, while Hyperliquid's HYPE ETFs remain a rare bright spot amid the downturn.
Apyx's apxUSD stablecoin briefly dipped to 93 cents amid bitcoin's decline, with the protocol asserting that such volatility is an expected feature rather than a bug.
Polymarket has ruled No for May and Yes for June after a vote by UMA token holders regarding Strategy's recent bitcoin sale, leading to a significant dispute among bettors.