Bitcoin revisited $123,200 after its latest record highs while market analysis raised concerns about surging open interest over the past week. Key points: Bitcoin takes stock of its latest gains after reaching fresh all-time highs above $126,000. $124,000 emerges as the essential battleground for Bitcoin bulls. Read more
BNY Mellon is exploring tokenized deposits to move part of its $2.5 trillion daily payment flow onto blockchain rails and modernize cross-border settlements. BNY, the largest custodian bank in the world, is exploring tokenized deposits to enable clients to transfer funds instantly, 24/7, while easing constraints of its legacy systems. Carl Slabicki, executive platform owner for Treasury Services at BNY, told Bloomberg that the project is part of an effort to upgrade real-time and cross-border payments, aiming to move a portion of its $2.5 trillion daily payment flow onto blockchain rails. Tokenized deposits can help “banks overcome legacy technology constraints, making it easier to move deposits and payments across their own ecosystems – and eventually, across the broader market as standards mature,” Slabicki said. Read more
Time2Build will pay developers to add Bitcoin Lightning Network features to existing open-source apps, rewarding only code accepted by project maintainers. Industry initiative Time2Build is paying developers to integrate the Breez Bitcoin Lightning Network software development kit (SDK) into existing open-source projects, aiming to drive lasting adoption rather than short-term experimentation. According to a Tuesday announcement shared with Cointelegraph, the initiative is not a hackathon or a developer bounty. Instead, it pays developers for contributing to existing open-source projects and adding Bitcoin (BTC) features to them. Only code accepted by project maintainers is rewarded, ensuring that Lightning Network features actually reach users. A representative told Cointelegraph that “eligible open-source projects must have a FOSS [free and open source] license, an active community and a real-world user base.” Read more
Amid growing demand for safe-haven assets due to a US government shutdown, stimulus checks may bring an “additional liquidity catalyst,” market analysts told Cointelegraph. United States President Donald Trump has floated the idea of using import tariff revenue for another stimulus package, signaling a potential tailwind for crypto markets, alongside the ongoing government shutdown. Trump said he is considering giving Americans up to $2,000 in stimulus checks funded by revenue generated from import tariffs, according to an interview on the One America News Network published on Thursday. While the revenue from tariffs is just “starting to kick in,” they will ultimately generate “over a trillion dollars a year,” said Trump during the interview, adding that another part of the revenue will be used to pay the nation’s $37 trillion federal debt. Read more