latest crypto news updates:
- *Kyrgyzstan Launches National Stablecoin*: Kyrgyzstan has launched a national stablecoin and a central bank digital currency in partnership with cryptocurrency exchange Binance. The stablecoin, A5A7, is backed by the Russian rouble and aims to facilitate cross-border transactions .
- *Ferrari Enters Crypto Market*: Ferrari is planning to launch a digital token for its ultra-exclusive Hyperclub members, allowing them to bid on a Ferrari 499P racing model. This move marks Ferrari's entry into the crypto market, targeting tech-savvy buyers.
- *Bitcoin and Ethereum Price Movements*: Bitcoin is currently trading at $115,470, with a 3.28% increase, while Ethereum is trading at $4,189.75, with a 5.91% increase.
- *Regulatory Updates*: The US President has nominated Michael Selig as the Commodity Futures Trading Commission's (CFTC) chair, which could impact the crypto industry. India has blocked WazirX from using user XRP to cover hack losses, highlighting increased regulatory scrutiny .
- *Market Trends*: The crypto market is experiencing a bounce, with some assets seeing significant gains. Zcash, for example, has jumped over 30% in a day, with predictions of reaching $10,000. XRP is also seeing a surge, with predictions of reaching $2.80 or even $3 .
