This week brought significant events in the crypto world, including support for crypto bills from the former president and increased regulatory activities globally.
Trump Supports Crypto Legislation
Former U.S. President Donald Trump gained Republican support for three key crypto bills, including the GENIUS Act, the Anti-CBDC Surveillance Act, and the CLARITY Act. These bills faced delays due to concerns over CBDCs, but Trump's involvement rekindled momentum ahead of a critical vote.
Other Major Events
Additionally, several noteworthy incidents emerged throughout the week: * **BigONE reported a $27 million security breach**, promising to recover the assets. * **Intellistake Technologies Corp secured exclusive rights to deploy advanced staking protocols**. * **Mary-Catherine Lader**, President of Uniswap Labs, has stepped down. * **Arcadia Finance fell victim to a $2.5 million exploit**. * **Peter Schiff described Bitcoin’s rise as a speculative "pyramid."
Global Initiatives and Market Trends
Global initiatives and market trends included: * **Bank of America is preparing to launch a dollar-backed stablecoin**, prioritizing client demand and regulatory clarity. * **Thailand’s SEC launched a nationwide crypto sandbox** for tourists, aiming to boost digital asset adoption. * **Kazakhstan plans to include cryptocurrencies in its sovereign wealth fund**, joining a global trend towards regulatory recognition. * **Top cryptocurrencies of the week included:** HOPR (+48.1%), Assemble AI (+256.3%), and Graphite Protocol (+109.8%), while losers were highlighted by Banana For Scale (-61.6%) and Imagen Network (-24.1%).
This week showcases active dynamics in the realm of cryptocurrencies and their regulation, featuring both political support and market challenges. Continued attention to this rapidly evolving space is recommended.
