US Treasury yields hit a 19-year high on Thursday, pressuring risk assets as Bitcoin held near $84,000 and ONDO became top performer among altcoins. Bitcoin (BTC) had a volatile Thursday during US hours as the yield on the 10-year US Treasury note climbed to its highest level in nearly two decades. After briefly falling below $83,000, BTC struggled to reclaim $84,500. Ondo Finance (ONDO), meanwhile, was among the top-performing altcoins. Key points: The US 10-year Treasury yield rose more than 4 basis points to 5.18% on Thursday, its highest level since July 2007, according to TradingView data. The 30-year yield hit 5.46%, reclaiming 2004 highs. Read more
Bitcoin traded near $83,200 as Fed hike odds reached about 75% and Treasury prepared a $6 billion buyback of long-dated bonds. Key points Bitcoin fell below $84,000 during Asian trading hours on Thursday, slipping to $83,200 after the US 10-year Treasury yield climbed to its highest level since 2007. The 10-year yield closed Wednesday at 5.11%, up from 4.96% Tuesday, and reached 5.13% intraday. CME attributed the bond selloff partly to stronger US business data and rising oil prices. Read more
US President Donald Trump previously tapped David Sacks as his AI and crypto czar before Sacks stepped down from the role earlier this year after reaching his service limit as a special government employee. US Treasury Secretary Scott Bessent is reportedly being considered as US President Donald Trump’s next artificial intelligence czar, days after Trump announced plans for an “AI Force” amid mounting concerns about the technology’s risks. Bessent is a frontrunner for the position, three sources familiar with the matter told Semafor. Other candidates include the White House Office of Science and Technology Policy Director Michael Kratsios and Office of Personnel Management Director Scott Kupor, a former managing partner of venture capital firm Andreessen Horowitz and National Cyber Director Sean Cairncross. However, White House spokesperson Kush Desai told Semafor that “any reporting about personnel decisions that have not been officially announced by the administration should be regarded as baseless speculat...
A Bank of England policy maker said digital dollars could expand access to the US currency while turning stablecoin issuers into bigger buyers of government debt. Carolyn Wilkins, a member of the Bank of England’s Financial Policy Committee, says the rise of stablecoins could reinforce the US dollar’s global dominance and increase demand for US Treasurys, underscoring how the growing market for digital dollars could have consequences well beyond crypto. In a Tuesday speech at Queen’s University Belfast, Wilkins said dollar-denominated stablecoins could strengthen the greenback by making cross-border settlement easier, expanding access to dollar-linked assets outside the US and increasing demand for Treasurys held as reserves. The largest stablecoin issuers are already significant buyers of US government debt. Tether’s USDt (USDT) and Circle’s USDC (USDC) held nearly $150 billion in Treasury bills at the end of 2025 and bought roughly $33 billion during the year, according to data cited by Wilkins. Read more