NEWS DIGEST πΒ
1. Bitcoin Falls Below $75K Amid Market Turbulence
Bitcoinβs price has dropped below $75,000, leading a significant sell-off in the cryptocurrency market. Major tokens like XRP and Solana have experienced declines of over 20%. This downturn is attributed to macroeconomic uncertainties and recent tariff measures introduced by President Trump, prompting investors to seek safer assets.
Β 2. Federal Reserve Governor Highlights Benefits of Stablecoins
Federal Reserve Governor Christopher Waller has expressed strong support for stablecoins, emphasizing their potential to enhance the U.S. payments system by introducing competition, efficiency, and speed. He advocates for private sector-led innovation in this area and remains skeptical about the need for a Federal Reserve-issued digital dollar.
Β 3. Circle Reveals Revenue Growth in IPO Filing
Circle Internet Group, the issuer of the USDC stablecoin, has filed for an initial public offering (IPO) on the New York Stock Exchange. The company reported a revenue of $1.68 billion in the past year, up from $1.45 billion the previous year. This marks Circleβs second attempt at going public after a previously terminated $9 billion merger.
Β 4. Gemini and SEC Seek Resolution Over βEarnβ Program Lawsuit
Gemini Trust, led by Tyler and Cameron Winklevoss, and the U.S. Securities and Exchange Commission (SEC) are seeking to resolve a lawsuit concerning the Gemini Earn program. Both parties have requested a 60-day halt on all deadlines related to the case to explore a potential resolution. The lawsuit alleges that Gemini and Genesis Global Capital failed to register the cryptocurrency asset lending program aimed at retail investors.
