Bitcoin volatility eased after BTC hit its highest level since mid-May, while gold joined the cryptocurrency in approaching three-month highs. Bitcoin (BTC) consolidated above $77,000 after Friday’s Wall Street open as gold joined the crypto rally to hit 14-week highs. Key points: Data from TradingView showed BTC/USD cooling after reaching its highest levels since May 15, still up nearly 6% on the day. Read more
The RISE program would use the Canton Network to combine and distribute state-administered benefits across three US states beginning in 2027. Digital Asset, the creator of the Canton Network, and former US House Speaker Paul Ryan’s American Idea Foundation plan to pilot a blockchain-based system for distributing state-administered benefits across three US states using the Canton Network. The RISE program is expected to launch in the first quarter of 2027 and would combine multiple benefits into monthly or twice-monthly payments, with spending rules applied to categories including food, child care and cash. According to Friday’s announcement, the system would automatically adjust benefit levels as household income changes and allow participating agencies to track payments, balances, spending and compliance data through Canton. Digital Asset said Canton would coordinate the rules, permissions and transactions used to distribute benefits while limiting access to sensitive information. Read more
Bitcoin’s rally above $79,000 lifted miners and treasury companies, with Canaan, Strive and Metaplanet posting double-digit gains as crypto stocks surged. Shares of Bitcoin miners and digital asset treasury companies surged toward the end of the week, tracking a broader rally across crypto markets after the US Treasury announced it would double certain long-dated bond buybacks — a move aimed at supporting liquidity in the Treasury market that also helped bolster risk appetite. Bitcoin (BTC) miner Canaan led crypto-related stocks on Friday, rising more than 25%. MARA Holdings edged higher after gaining nearly 16% during Thursday’s session. Strive, which holds more than 20,000 Bitcoin (BTC) on its balance sheet, jumped more than 16% on Friday. Japan-listed Metaplanet, which recently expanded its Bitcoin treasury strategy by acquiring Nasdaq-listed Super League Enterprise, also gained more than 16%. Read more
Bitcoin rallied as Treasury bond buybacks fueled the “not-QE” trade, while Metaplanet expanded to the US and Cypherpunk made a $33 million Zcash mining bet. Bitcoin and the broader digital asset market got a taste of “not-QE” this week — and liked it. The price of Bitcoin (BTC) jumped more than 23% toward $79,000 and Ether’s price crossed $2,400 after the US Treasury moved to double certain long-dated bond buybacks, adding fuel to an increasingly important question for digital asset markets. If Washington keeps finding new ways to support liquidity without technically embarking on quantitative easing, could Bitcoin and other risk assets become some of the biggest beneficiaries? That question is already shaping business decisions across crypto. Standard Chartered sees Bitcoin heading toward $100,000, Metaplanet is taking its Bitcoin treasury strategy to the US and Cypherpunk Technologies is making a $33 million bet on Zcash mining. Read more