Bitcoin fell 1.5% from local highs amid a reversal in US stocks as markets moved from bullish US inflation cues to retail profit-taking. Bitcoin (BTC) cooled off with US stocks on Thursday as tech selling tempered gains from low inflation. Key points: Read more
A former CFTC commissioner urged lawmakers not to “kill all the hard work that we put in the rest of the bill” by making ethics a make-or-break issue on crypto market structure. Summer Mersinger, the CEO of the Blockchain Association and a former commissioner at the US Commodity Futures Trading Commission (CFTC), anticipated a vote on a cryptocurrency market structure bill as soon as next week with the window closing for lawmakers before August state work periods. Speaking at the Injective Summit in Washington, DC, on Thursday, Mersinger said that US lawmakers working to advance the Digital Asset Market Clarity (CLARITY) Act in Congress had a “few little nits that they’re still working out” but were “very close on the main part of the language” around the bill. According to the Blockchain Association CEO, a vote in the Senate could come as early as next week, provided lawmakers reached an agreement on ethics. “Ethics is the big elephant in the room,” said Mersinger on the crypto bill. “That’s what we hear fr...
Eligible E*TRADE retail clients can now buy, sell and hold Bitcoin, Ether and Solana through a partnership with crypto infrastructure provider Zero Hash. Morgan Stanley’s E*TRADE platform has launched spot cryptocurrency trading, allowing eligible clients to buy, sell and hold Bitcoin, Ether and Solana through a partnership with crypto infrastructure provider Zero Hash. Clients can view their crypto holdings alongside stocks and other traditional investments on the E*TRADE platform, while transfer functionality for moving digital assets on and off the platform is expected later this year. The self-directed channel served 8.6 million households and held about $1.56 trillion in client assets as of March 31, according to Morgan Stanley’s latest financial supplement. Read more
Tradable will bring up to $1 billion in private credit assets to Stellar, extending the blockchain’s push into institutional finance and tokenized real-world assets. Tokenization platform Tradable plans to bring up to $1 billion in private credit assets onto the Stellar blockchain, expanding institutional access to tokenized real-world assets (RWAs) as demand for onchain private markets continues to grow. Tradable said Thursday that $500 million in notional value is expected to be available when the initiative launches, and it will increase the amount to $1 billion over time. The company will use Stellar’s network to support institutional functions, including compliance, investor onboarding and asset lifecycle management. The timing of the initiative’s launch was not disclosed. Read more