The Blockchain Association, Crypto Council for Innovation and fintech allies urged the CFPB to finalize an open banking rule ensuring consumers, not banks, control their data. A coalition of fintech, crypto and retail industry trade groups is urging the US Consumer Financial Protection Bureau (CFPB) to adopt a robust open banking rule that safeguards consumers’ control over their financial data. The letter shared with Cointelegraph was signed by leading crypto advocacy groups — including the Blockchain Association and the Crypto Council for Innovation — alongside fintech and industry organizations such as the Financial Technology Association, American Fintech Council and others representing retailers and small businesses. The letter responds to the CFPB’s review of the Personal Financial Data Rights Rule under Section 1033 of the Dodd-Frank Act, which will define how consumers share their financial data with third-party services. Read more
Bitcoin price dropped 2.5% on Tuesday in an attempt to fill the latest weekend CME futures gap, while traders warned that $100,000 could fail as support. Key points: Bitcoin attempts to fill the latest weekend Bitcoin futures gap after giving up its rebound. Overall BTC price weakness comes amid low volume, traders warn. Read more
BitMine chairman Tom Lee said he expects Ethereum to enter a supercycle, making the current price an attractive risk vs reward purchase. BitMine chairman Tom Lee has confirmed the company went on an Ether buying spree after the crypto market saw one of its most significant deleveraging events earlier this month. “Open interest for ETH sits at the same levels as seen on June 30th of this year, ETH was $2,500, given the expected Supercycle for Ethereum, this price dislocation represents an attractive risk/reward,” he said in a statement on Monday. BitMine bought up another $250 million Ether (ETH) on Monday from crypto exchanges Bitgo and Kraken, according to blockchain analytics platform Arkham Intelligence. Read more
The main goal of VCs is to "suck as much value as possible” from Ethereum, but they remain necessary bridges for global capital entering the crypto industry, according to Lubin. Ethereum co-founder and Consensys founder Joseph Lubin highlighted the importance of venture capital (VC) funding for the development of the world's largest smart contract network, despite growing industry concerns over the influence of investment funds on Ethereum. The main goal of VCs like Paradigm is to "suck as much value as possible from the Ethereum and broader ecosystem," while their secondary goals include "progressing the systems towards rigorous decentralization," wrote Lubin in a Monday X post, adding that there is “no reason for concern.” Lubin's comments come shortly after the departure of two key Ethereum researchers, which caused renewed concerns over the potential influence of centralized funds over Ethereum’s development. Read more
Available to Premium X users, the new marketplace could see rare usernames sell for up to seven figures. Social media platform X is rolling out a new Handles Marketplace that allows users to bid on inactive usernames, a move that could reshape how digital identity and online branding are valued. Currently in beta, the marketplace lets users join a waitlist for upcoming handle drop events, request handles through their Premium subscriptions and browse eligible inactive accounts. The company described it as a “solution to redistribute handles that are no longer in use,” available only to paying subscribers. According to TechCrunch, rare handles could sell for anywhere from $2,500 to over $1 million, depending on their popularity, character length and cultural relevance. Premium+ subscribers can submit free requests for “priority” handles, while others may purchase “rare” handles directly. Read more