Author: Kryptonews

Memecoiners plonked a giant golden statue of President Donald Trump holding a Bitcoin outside the US Capitol as part of a Pump.fun livestream stunt on Wednesday, as an ode to the crypto-supporting president. The statue was placed just opposite Union Square in Washington, DC, on the National Mall that leads up to Capitol Hill, which is also roughly a mile from the White House. A website for the stunt said it was a tribute to Trump’s “unwavering commitment to advancing the future of finance through Bitcoin and decentralized technologies.”The statue’s unveiling coincided with the Federal Reserve cutting interest rates for the first…

The Federal Reserve cut interest rates by 25 basis points for the first time since December on Wednesday, signaling concerns about a weakening labor market. The Federal Open Market Committee voted to lower its target range to 4% to 4.25%, in line with investor expectations. After the move, Fed Chair Jerome Powell said in a news conference that the unemployment rate remains low but job gains have slowed, “and downside risks to employment have risen at the same time, inflation has risen recently and remains somewhat elevated.” A Growing Divide at The Fed The decision was nearly unanimous, with only…

The native token for the decentralized crypto derivatives exchange Hyperliquid hit a new peak price level on Thursday as altcoins outperformed on Fed rate cuts.Hyperliquid (HYPE) hit an all-time high of $59.29 during early trading on Thursday following a daily gain of around 8%. The asset, which has a market capitalization of just under $16 billion, has surged almost 40% over the past month, massively outperforming the top three cryptocurrencies by market capitalization: Bitcoin (BTC), Ether (ETH) and XRP (XRP). Hyperliquid is a decentralized exchange for perpetual futures, derivative contracts without an expiry date, allowing speculators to take leveraged positions on crypto…

Coinbase CEO Brian Armstrong says that critical legislation to advance crypto in the US has “a good chance of getting done” after witnessing strong bipartisan support for the crypto market structure bill this week. The Digital Asset Market Clarity Act seeks to clarify the roles of the Securities and Exchange Commission, the Commodity Futures Trading Commission and other financial agencies that regulate the crypto market, especially non-stablecoins such as tokenized stocks.After meeting with lawmakers over the last few days, Coinbase CEO Brian Armstrong said: “This is how we ensure the crypto industry can be built here in America, driving innovation and…

Key Takeaways BDACS has launched KRW1, the first Korean won-backed stablecoin on the Avalanche blockchain. KRW1 is fully backed by Korean won reserves held at Woori Bank. Share this article South Korea’s BDACS launched KRW1, the first Korean won-backed stablecoin on the Avalanche blockchain. The digital asset is fully collateralized with Korean won held at Woori Bank.The launch follows successful proof of concept validation, marking one of the first stablecoins pegged to South Korea’s national currency to operate on a major blockchain network. Share this article

MoneyGram’s digital payments app is set to launch in Colombia, offering locals a way to save in US dollar stablecoins as the Colombian peso continues to weaken.MoneyGram’s crypto service is powered by the Stellar network and leverages Crossmint for self-custody, enabling users to store the USDC (USDC) stablecoin and transfer it overseas nearly instantly. In a statement on Wednesday, MoneyGram said Colombia is the “ideal launch market” as Colombian families receive more than 22 times the money they send abroad.“For millions of people around the world, sending money across borders is a lifeline: supporting loved ones back home, covering essentials like…

Editor’s Note: This story originally appeared in On Balance, the ARTnews newsletter about the art market and beyond. Sign up here to receive it every Wednesday. Happy Wednesday! A round-up of who’s moving and shaking in the art trade this week: Marian Goodman Gallery Takes on Edith Dekyndt: Dekyndt has a multidisciplinary practice that explores time, light, and space through minimalist video, sculpture, installation, and performance. The gallery will debut her work at Art Basel Paris in October. Salon 94 to Represent Raven Halfmoon: Known for monumental clay and stoneware figures that fuse traditional coil-building with bold glazes and inscribed text, Halfmoon (Caddo Nation) has work in the…

Ethereum co-founder Vitalik Buterin has finally addressed some concerns over the lengthening Ethereum staking exit queue, which has now grown to 45 days. His response came after Galaxy Digital’s head of DeFi, Michael Marcantonio, called the exit queue length “troubling” on X and compared it to Solana, which only requires two days to unstake. He has since deleted the posts. “Unclear how a network that takes 45 days to return assets can serve as a suitable candidate to power the next era of global capital markets.”Deleted post from Galaxy Digital’s DeFi head. Source: Etc.However, Buterin seemingly took a more ideological stance on…

Key Takeaways:American Bitcoin (ABTC) surged nearly 85% on its Nasdaq debut, briefly reaching a $5B valuation.The Trump family, alongside Hut 8 Mining, controls 98% of the newly merged crypto-mining entity.Eric Trump called Bitcoin “modern-day gold,” predicting it could reach $1 million per coin.American Bitcoin, a fast-rising crypto mining firm with strong political and institutional backing, has officially entered Wall Street. After merging with Gryphon Digital Mining, the company made its Nasdaq debut under the ticker ABTC, instantly drawing global attention to both its stock performance and its bold vision for Bitcoin’s future.Read More: Trump-Backed Crypto Firm Eyes Asia for Bold…

Cardano founder Charles Hoskinson has reported tremendous progress in Washington after attending a high-level CLARITY Act roundtable meeting this week. The session was one of the starkest attempts yet to get lawmakers and the crypto industry in the same room to hammer out explicit, bipartisan rules for digital assets in the United States. Hoskinson congratulated Ripple’s representatives, XRP supporters, and venture capital firm Andreessen Horowitz (a16z) for their contributions in policy negotiations. He noted that Cardano was in full force at the conference and stressed that these conversations were productive and cooperative. Hoskinson said the meeting was fruitful, adding that…