Federal Reserve governor Christopher Waller told a conference on Sunday that stablecoins expand the reach of US policy while the Bank of England’s Megan Greene expects their popularity will soon fade. US Federal Reserve governor Christopher Waller said Sunday that the growing use of dollar-backed stablecoins could bolster the global influence of US monetary policy. Waller told participants at the 32nd Dubrovnik Economics Conference that countries that increasingly rely on stablecoins backed by the US dollar may effectively import US monetary conditions, Bloomberg News reported Sunday. “I've always just looked at stablecoins as a payment instrument; there's nothing evil about it, nothing dangerous about it,” Waller said. “They are just bringing competition into the payments world,” Reuters reported. Read more
Strategy could be set to announce it has resumed buying Bitcoin after pausing in recent weeks as the biggest crypto looks poised to close out the month down more than 3.5%. Strategy chairman Michael Saylor on Sunday signaled the Bitcoin treasury company would be announcing fresh purchases of the cryptocurrency in the coming days. The social media post comes just days ahead of a proxy vote that depends in large part on retailer shareholders to enable semi-monthly dividend payouts on the company’s STRC perpetual preferred stock. “Working Better” was Saylor's tweet late Sunday morning to accompany a bubble chart tracking Strategy’s Bitcoin (BTC) purchases over the past nearly six years. That chart, from Iceland-registered StrategyTracker.com, has been consistently posted by Saylor in the days ahead of news of a purchase by the biggest publicly traded Bitcoin holder. Read more
In the wake of CFTC approval of perpetual futures contracts tied to the spot price of Bitcoin, Kraken expects to offer those to US institutional clients within "the next month." Kraken said late Friday that it expects to launch CFTC-regulated perpetual futures contracts in the US in the next 30 days, hours after the US Commodity Futures Trading Commission approved the instruments. The exchange said when it gains approval, the contracts will be listed on Bitnomial Exchange, a CFTC-regulated exchange recently acquired by Kraken's parent company, Payward. Payward said on April 17 that it was acquiring crypto derivatives platform Bitnomial for as much as $550 million, aimed at providing Kraken Pro customers with access to Bitnomial's perpetual futures offering. Read more
Bitcoin faced ending May lower by around 3%, with the possibility of US PMI data giving BTC price action a boost next week. Bitcoin (BTC) circled $73,500 on Sunday as bulls stared down 3% BTC price losses for May. Key points: Read more
Bitcoin’s bounce from a key holder cost-basis level has improved the case for further upside, with historical data pointing to $101,000 as a potential best-case target. Bitcoin (BTC) is rebounding from a key on-chain support zone, putting the $78,000 level back in focus for bulls. Key takeaways: Bitcoin rebounded roughly 2.5% over the weekend to reach $74,000 on Sunday, with the recovery beginning near $72,500. Read more