Bank of England Governor Andrew Bailey said stablecoins could thrive in a system that separates money from credit, reducing the UK’s reliance on commercial banks. Bank of England (BoE) Governor Andrew Bailey suggested that stablecoins could reduce the United Kingdom’s reliance on commercial banks, signaling a potential shift in the central bank’s stance toward digital assets. In a Wednesday article in the Financial Times, Bailey said that the current financial system combines money and credit creation through fractional reserve banking, in which banks hold a portion of deposits while lending out the rest. Fractional reserve banking is a system in which banks hold only a fraction of customer deposits in reserve and lend out the rest, thereby creating new money through credit expansion. “Most of the assets backing commercial bank money are not risk-free: they are loans to individuals and to companies,” Bailey wrote in the FT. “The system does not have to be organised like this.“ Read more
The US Senate Finance Committee is holding a hearing on Wednesday on crypto asset taxation, following the IRS’s release of relief guidance on the Biden-era CAMT tax. The US Senate Finance Committee will hold a hearing Wednesday on cryptocurrency taxation, a day after the Treasury Department and Internal Revenue Service (IRS) issued interim guidance easing corporate crypto tax rules. The Treasury and IRS on Tuesday issued interim guidance aimed at easing compliance under the Corporate Alternative Minimum Tax (CAMT), including for companies operating in the digital assets sector. Signed into law under former President Joe Biden as part of the Inflation Reduction Act of 2022, CAMT imposes a 15% minimum tax on the financial statement income of large corporations. Read more
ETH price could rally to new all-time highs above $10,000, fueled by renewed institutional demand through Ethereum ETFs and treasury companies. Key takeaways: An ETH price bull flag is in play on the weekly chart, targeting $10,000. Ether ETFs recorded inflows for two straight days totaling $674 million. Read more
The first US government shutdown since 2018 may signal the next crypto market bottom, despite concerns over mixed equity market reactions, analysts told Cointelegraph. The United States government entered its first shutdown in six years on Wednesday, a political standoff that coincided with a rise in Bitcoin and gold as investors sought safe-haven assets. The US government is experiencing its first shutdown since the 35-day closure in December 2018, stemming from deep partisan divisions that have made Congress unable to pass a key funding bill needed for the 2026 fiscal year. The main dispute stems from a temporary funding measure, known as a continuing resolution. The Republicans advanced the CR without additional policy changes requested by Democratic Party members, led by Senator Chuck Schumer, who demanded a permanent extension of Affordable Care Act tax credits, which they said would prevent millions from losing healthcare coverage. Read more
Former trader Josh Mandell claims quantum computers are draining old Bitcoin wallets. Experts disagree — here’s what the technology can (and can’t) do. Bitcoin was built on the principle that once funds are secured by a private key, only the holder can access them. But what if that assumption no longer holds? In what was reportedly a now-deleted post on X, former Wall Street trader Josh Mandell alleged that quantum computers are being used to siphon Bitcoin (BTC) from long-dormant wallets — especially those of owners presumed inactive or deceased. Read more
Despite bot dominance, transfers under $250 hit record highs in Q3, putting 2025 on track to become the most active year ever for retail usage of stablecoins. Stablecoin transfers surged to a record $15.6 trillion in the third quarter of 2025, with much of the activity linked to automated trading bots, according to new research from crypto exchange CEX.io. On Wednesday, CEX.io’s market research analyst Illya Otychenko dubbed the third quarter of 2025 the “most active period” for stablecoins. During the quarter, the value of stablecoin transfers reached $15.6 trillion, its strongest quarter yet. Otychenko told Cointelegraph that their calculations, using data from Visa/Allium and Artemis, showed that bot-driven transfers made up roughly 71% of the total Q3 stablecoin transfer volume. Read more
Once exclusive to the elite, alternative assets like art and wine are now accessible to all, as blockchains enable fractional ownership and global trading. Opinion by: Sam Mudie, CEO of Savea Alternative assets were once solely the domain of the elite. For centuries, fine wine, high art and luxury watches were only accessible to the most exclusive circles of society. Read more