The best news in the cryptocurrency world today:
Market Updates
- Bitcoin Surges: Bitcoin's price has jumped 6.2% in the last 24 hours, reclaiming the $94,000 level and reaching its highest point since April 2. This surge is attributed to increased institutional investment and a growing "safe haven" narrative.
- Ethereum Gains: Ethereum's price is up 10% today, driven by waning tariff-induced fear and a boost in derivatives trading.
- XRP Rally: XRP has surged to $2.22 with a 7% daily gain, and analysts are predicting a potential breakout attempt towards $2.7.
Regulatory Developments
- SEC Drops Fraud Suit: The SEC has decided not to file an amended complaint against Hex founder Richard Heart for its fraud lawsuit, sparking celebrations in the crypto community.
- US Stablecoin Plans Spark EU Regulatory Dispute: The US endorsement of cryptocurrencies and promotion of dollar-based stablecoins has sparked tensions between the European Commission and the European Central Bank ¹.
Investment and Adoption
- Spot Bitcoin ETFs See Record Inflows: Spot bitcoin ETFs have seen $936 million in inflows, with analysts attributing this to growing institutional capital and a strengthening "safe haven" narrative.
- PayPal to Offer 3.7% Yield on Stablecoin Balances: PayPal will offer a 3.7% yield on PYUSD stablecoin balances, with monthly rewards paid in the stablecoin.
- Riot Platforms Secures $100M Bitcoin-Backed Loan: Riot Platforms has secured a $100 million Bitcoin-backed loan from Coinbase, with the company holding 19,223 BTC valued at nearly $1.8 billion.