#CryptoStocks

Federal Reserve Chair Jerome Powell recently described Bitcoin as a speculative asset, akin to digital gold, not a dollar competitor, emphasizing its volatility and limited payment use.

He supports stablecoin regulation but dismissed Fed Bitcoin ownership. Meanwhile, cryptocurrency stocks like Coinbase and Circle surged after the U.S. Senate passed the GENIUS Act, establishing a regulatory framework for stablecoins, boosting market confidence. Bitcoin trades at ~$109.6K, up 0.11%, while Ethereum rises 4.27% to $2,795. The total crypto market cap is $3.38 trillion, with stablecoins hitting $251.7 billion, reflecting growing institutional adoption.