Stablecoins, or cryptocurrencies pegged to a stable asset like gold or the U.S. dollar, have ballooned into a $227 billion market. While federal regulation has been slow to materialize, that may soon change. On Thursday, the Senate Banking Committee will mark up the bipartisan GENIUS Act (Guiding and Establishing National Innovation for U.S. Stablecoins Act), which aims to establish a regulatory framework for stablecoins. Meanwhile, The US Securities and Exchange Commission may be preparing to end its enforcement action against Ripple Labs after more than four years. #siamstr #nostr #Siamstr

President Donald Trump’s chaotic actions with respect to trade and American geopolitical interests vis-à-vis Russia, Ukraine and Europe have unleashed a new round of chatter over the perennial question – what does this mean for the future of the dollar’s global reserve currency and financing role? #siamstr #nostr

Equity market sentiment showed signs of optimism on Thursday, with S&P 500 and Nasdaq futures rising in premarket trading. The uptick comes after Nvidia's earnings report on Wednesday. Bitcoin has experienced a tumultuous week, putting the largest digital asset by market capitalization in correction territory. #siamstr #nostr

Bitcoin has dropped below $84,000, erasing the post-election rally as traders hedge against further declines. The S&P 500 lost $500 billion in one hour due to Trump’s trade war with the EU. Meanwhile, the House on Tuesday narrowly passed a Republican budget resolution that calls for $4.5 trillion in tax cuts and a $2 trillion reduction in federal spending over a decade, clearing the way for major elements of President Trump’s domestic agenda #siamstr #nostr

Crypto market sentiment has fallen into “extreme fear” as Bitcoin slumped to as low as $86,887, its lowest since mid-November. Broadly, the crypto market has dropped by over 10% over the last day, with some leading coins like Solana, Ripple’s XRP, and Dogecoin nursing much larger losses during the same span. #nostr #siamstr #Siamstr

The US state of Wyoming is “rapidly advancing” towards the launch of its own stablecoin before mid-2025, the executive director of the team behind the initiative has said. Apollo is executive director of the Wyoming Stable Token Commission, which was established in March 2023 through the Wyoming Stable Token Act. #siamstr #nostr

The makeover of the U.S. Securities and Exchange Commission appears to be well underway following news that the agency plans to dismiss its years-long case against Coinbase. #siamstr #nostr

Federal Reserve Chair Jerome Powell has made a major statement that could reshape the relationship between traditional banks and the cryptocurrency sector. While acknowledging crypto’s volatility and speculative nature, he stated that the Fed does not intend to prevent banks from serving legal crypto customers as long as they understand and manage the associated risks. #siamstr #nostr #Siamstr

The hearing, which took place on Feb. 6, focused on the so-called "Operation Chokepoint 2.0," an initiative by the U.S. government that was meant to target the cryptocurrency sector. Paul Grewal, Chief Investment Officer at Coinbase testified at the U.S. House Committee on Financial Services #siamstr #nostr #Siamstr

The market is on high alert as Federal Reserve Chair Jerome Powell’s upcoming statements take center stage. Unlike last year’s crash, this time, the real market impact will unfold after the meeting, even though no rate changes are expected. While the Fed is expected to keep rates steady, Powell's comments on deportation, the debt ceiling, and inflation will impact market sentiment. #siamstr #nostr #Siamstr