Senator Cynthia Lummis introduced the BITCOIN Act, a bill directing the US Treasury to buy up to 1 million Bitcoin over five years and hold it for at least 20 years. The plan aims to use Bitcoin's fixed supply and potential price growth to reduce the US national debt, which currently ranges from $36 trillion to $39.2 trillion. Lummis suggests this reserve could cut the debt by one-third to one-half, or potentially eliminate it, depending on Bitcoin's future value. The proposal has gained political traction alongside related digital asset legislation and reflects a broader move by some countries to hold Bitcoin at the sovereign level. Risks include market concentration and price impact if the reserve is liquidated, but the long holding period is intended to mitigate these concerns.
Grayscale Investments has filed with the SEC to rename its Grayscale Litecoin Trust as the Grayscale Litecoin Trust ETF, aiming to list it on NYSE Arca. This move would allow the trust to operate as a proper ETF with creation and redemption mechanism...
Ethereum experienced sharp price swings after briefly rising above $2,600 then falling near $2,400. Wintermute transferred 61,847 ETH worth $160.3 million to Binance and Coinbase, raising concerns about potential selling. However, exchange supply of ...
A Coinbase engineer created an open-source project called Stonkfly that connects a simulated fruit fly brain to a Bitcoin trading system. Instead of using direct price data, the system interprets Bitcoin candlestick charts visually and rewards profit...
Bitcoin, Ethereum, and XRP are under pressure due to rising expectations of a Federal Reserve interest rate hike at the September 15-16 meeting, with an 86.5% chance of a 25 basis point increase. This would be the Fed's first rate hike in three years...
Chainlink's price has surged about 35% over the past month, driven by renewed institutional interest and upcoming U.S. policy events. LINK traded near $11 on September 12, with technical support at $11 suggesting potential for a breakout above $12. E...
