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Bitcoin (BTC) temporarily relinquished the $112,000 level. BTC is trading at $111,933.01, down 0.12% from the previous day, on the Binance Tether (USDT) market as of 04:57 on the 29th.
On the 28th (local time), economic news channel Walter Bloomberg reported that decentralized prediction platform Kalshi is expanding to the Solana (SOL) chain.
On the 28th (local time), breaking economic news channel Walter Bloomberg reported that the market capitalization of stablecoins surpassed US$280 billion, marking a record high.
On the 28th (local time), according to Cointelegraph, a media outlet specializing in virtual assets (cryptocurrencies), crypto asset manager Bitwise said that Bitcoin (BTC) is expected to reach $1.3 million by 2035. Bitwise forecast an annual average return of 28.3%. It also presented scenario-based projections, analyzing that in a bull market Bitcoin could reach up to $2.97 million by 2035, while in a bear market it could fall to $88,005. Bitcoin is trading at $112,528.16, up 0.52% from the previous day on the Binance Tether (USDT) market as of 04:12 on the 29th.
On the 28th (local time), according to Crypto Briefing, a crypto asset (cryptocurrency) specialist media outlet, the U.S. Securities and Exchange Commission (SEC) extended the review deadline for staking services related to the Ethereum (ETH) spot exchange-traded fund (ETF) applied for by Grayscale. The SEC reportedly said that additional review was necessary. As a result of this decision, the final approval decision will be delayed beyond the original expectation.
On the 28th (local time), according to Eleanor Terrett, host of Crypto in America, the U.S. Commodity Futures Trading Commission (CFTC) is expected to soon issue guidance clarifying registration rules for foreign virtual asset (cryptocurrency) exchanges. The guidance is reported to include ways that exchanges outside the United States can legally offer trading services to U.S. investors. The industry expects this measure to reduce uncertainty for foreign exchanges and contribute to investor protection and regulatory consistency within the United States.
According to crypto asset (cryptocurrency) specialist media CoinDesk on the 28th (local time), the Bitcoin (BTC)-based cross-chain protocol 'Portal to Bitcoin' has secured $50 million in investment. The round was led by Paloma Investment, and the funds raised will be used to develop Portal's adapter, BitScaler. BitScaler is designed to scale native Bitcoin without wrapped tokens, centralized custodial bridges, or insecure message-passing processes. Portal to Bitcoin said that, based on this investment, it will "accelerate trust-minimized scaling of Bitcoin." As of 01:59 on the 29th, Bitcoin was trading at $112,416.86 on the Binance Tether (USDT) market, up 0.26% from the previous day.
On the 28th (local time), crypto asset (cryptocurrency) media outlet Bitcoin News reported, "More Bitcoin (BTC) holders are making profits than at any time in history." According to the outlet, the number of Bitcoin wallets currently in profit exceeds 55 million, the largest on record. Also, the average holding period for Bitcoin was estimated at about 4.4 years. As of 01:59 on the 29th, Bitcoin is trading at $112,416.86 on the Binance Tether (USDT) market, up 0.26% from the previous day.
According to Fortune on the 28th (local time), stablecoin infrastructure startup Mo raised $40 million in a Series B round. This round was co-led by Polychain and Ribbit Capital, and existing investors Pantera Capital and Bain Capital Crypto also participated. Mo is developing infrastructure that allows stablecoin issuers to easily distribute assets across chains or exchange tokens into other forms through the network without building separate software.
The three major U.S. stock indices are showing mixed results. The Nasdaq Composite is trading at 21,654.78 points as of 00:42 on the 29th, up 0.30% from the previous day. The Dow Jones index is down 0.11% at 45,517.05 points, and the S&P 500 index is up 0.04% at 6,483.72 points.
Bitcoin (BTC) temporarily recovered the $112,000 level. As of 05:36 on the 28th, BTC is trading at $112,139.02 on the Binance Tether (USDT) market, up 0.74% from the previous day.
The three major U.S. stock indices closed higher. On the 28th, the NASDAQ Composite Index finished at 21,590.14 points, up 0.21% from the previous day. The Dow Jones Index closed at 45,565.05 points, gaining 0.32%, and the S&P 500 Index ended at 6,485.32 points, up 0.30%.
According to Blockworks, a crypto-focused media outlet, on the 27th (local time), 112 industry organizations in the United States—including blockchain projects, companies, and research institutions—jointly signed an open letter to Congress requesting legal protection for software developers and non-custodial service providers. This letter was led by the DeFi Education Fund and was delivered to Senators Tim Scott and Elizabeth Warren of the Senate Banking Committee, as well as Senators John Boozman and Amy Klobuchar of the Senate Agriculture Committee. These two committees oversee the U.S. Securities and Exchange Commission (SEC) and the U.S. Commodity Futures Trading Commission (CFTC), and are thus expected to play a critical role in shaping the final market structure legislation. The letter cited materials from Electric Capital. The referenced materials show that the proportion of open-source developers in the U.S. continues to decline, which the industry interprets as a result of regulatory uncertainty. Industry experts note that this letter goes beyond a simple legislative petition. They assess that the direction of the market structure bill could be directly linked to maintaining the developer ecosystem in the U.S. and securing global competitiveness.
According to virtual asset (cryptocurrency) focused US media outlet Bitcoin Magazine on the 27th (local time), US Treasury Secretary Scott Bessent stated that there are 11 candidates being considered to succeed Jerome Powell as Chair of the Federal Reserve (Fed), and that all of them possess strong qualifications.
On the 27th (local time), according to the virtual asset (cryptocurrency) media outlet Blockworks, staking protocol Symbiotic has launched a new reward feature that allows native tokens to be distributed directly to stakers and node operators. This feature has been activated on 8 partner chains, and has been designed to enhance efficiency compared to the existing reward model, allowing participants to earn more direct rewards. Symbiotic aims to strengthen incentives for staking participants and expand its ecosystem by enhancing collaboration with partner chains.
On the 27th (local time), cryptocurrency-focused media outlet Blockworks reported that former employees of the prediction market Polymarket have founded a new prediction market platform called The Clearing Company. The Clearing Company raised $15 million in seed funding led by Union Square Ventures, with participation from Hone Ventures, Variant, Coinbase Ventures, and Compound.
On the 27th (local time), the on-chain analysis platform CryptoQuant stated via X (formerly Twitter) that "the growth of stablecoins is slowing down." According to CryptoQuant, the amount of new issuance, which stood between $4 billion and $8 billion at the end of 2024, has recently decreased to $1.1 billion. They added, "Due to slowing liquidity supply, the upward momentum of Bitcoin (BTC) is also being restricted."
According to cryptocurrency-focused media outlet CoinDesk on the 27th (local time), Aave Labs, the developer of the decentralized lending protocol Aave, has launched Horizon, a platform exclusively for institutional clients. This platform is designed to enable stablecoin loans with tokenized real-world assets (RWA) as collateral. Horizon is built on an Aave V3 instance and is characterized by offering 24-hour lending services. Institutional clients can borrow major stablecoins such as USDC and Ripple USD (RLUSD) using tokenized securities as collateral.
Bitcoin (BTC) temporarily gave up the $112,000 level. As of 01:29 on the 28th, BTC is trading at $111,692.21 on the Binance Tether (USDT) market, up 1.84% from the previous day.
According to Bloomberg on the 27th (local time), Circle, the issuer of the dollar-based stablecoin USDC, and Paxos, the issuer of PayPal USD (PYUSD), are piloting a verification system for corporate stablecoin issuers. The two companies have partnered with the fintech startup Bluprynt to do so, and the system leverages Bluprynt's technology to provide functions for tracking and verifying stablecoin issuers.
According to The Block, a crypto-focused media outlet, on the 27th (local time), the US Commodity Futures Trading Commission (CFTC) plans to introduce Nasdaq's market surveillance system into the virtual asset market. Regarding the reason for this adoption, the CFTC explained, "This system can analyze unfair trading patterns such as price manipulation and precisely detect situations where trading volume and volatility change sharply," adding, "It is also capable of real-time analysis of order book data."
The three major United States stock market indices are showing an upward trend. As of 00:13 on the 28th, the Nasdaq Composite is trading at 21,572.21 points, up 0.13% from the previous day. The Dow Jones index is up 0.29% at 45,548.82 points, and the S&P 500 index is also recording an increase of 0.20% at 6,478.53 points.
According to Bloomberg on the 26th (local time), Kristin Johnson, the only Democratic member of the U.S. Commodity Futures Trading Commission (CFTC), is scheduled to resign on September 3. With her departure, the CFTC will move to a single-leadership structure under Acting Chair Caroline Pham. In her resignation statement, Commissioner Johnson stressed, "The CFTC needs to receive more support to fulfill its expanded roles, such as regulating digital assets."
According to The Wall Street Journal (WSJ) on the 26th (local time), U.S. President Donald Trump has shortlisted Stephen Miran, Chairman of the White House Council of Economic Advisers, and David Malpass, former President of the World Bank, as candidates to succeed recently dismissed Fed Board member Lisa Cook. Stephen Miran, in particular, drew attention last year when he released a global trade system restructuring guide, advocating the improvement of the U.S. trade deficit through aggressive policy measures such as tariffs.
The three major U.S. stock indices closed higher. On the 27th, the Nasdaq Composite Index rose 0.44% from the previous day to 21,544.27 points. The Dow Jones Index finished up 0.30% at 45,418.07 points, while the S&P 500 Index closed up 0.40% at 6,465.38 points.
Bitcoin (BTC) briefly recovered the $111,000 level. As of 04:22 on the 27th, BTC is trading at $111,061.36 on the Binance Tether (USDT) market, down 0.82% from the previous day.
On the 26th (local time), according to the crypto-focused media outlet The Block, Geoffrey Kendrick, Head of Digital Asset Research at Standard Chartered, assessed that "the prices of Ethereum (ETH) and companies holding Ethereum are significantly undervalued." He explained, "Since last June, digital asset finance companies have acquired about 2.6% of the total circulation of Ethereum, while in the same period, spot Exchange Traded Funds (ETFs) have additionally absorbed 2.3%." He continued, "In less than three months, a total of 4.9% of the entire supply has been absorbed by the market," adding, "In the process, Ethereum recorded its all-time high of $4,956 on August 24." Kendrick set Ethereum's year-end target price at $7,500, and the 2028 target at $25,000. He also forecast Bitcoin (BTC) at $200,000 by year-end and $500,000 in 2028. As of 04:16 on the 27th, Ethereum was trading at $4,548.47 on the Binance Tether (USDT) market, down 0.15% from the previous day.
On the 26th (local time), according to economic breaking news channel Walter Bloomberg, Donald Trump, former U.S. President, said, "We will soon have a majority at the Fed." This remark is interpreted as indicating that Trump's side will soon expand its influence over decision-making at the Fed.
According to Walter Bloomberg, an economic news channel, on the 26th (local time), Howard Lutnick, the U.S. Secretary of Commerce, announced, "The Department of Commerce plans to record key economic statistics such as GDP on the blockchain."
On the 26th (local time), cryptocurrency-focused media outlet Cointelegraph reported, citing CoinGlass data, that XRP's futures open interest has decreased from $11 billion to $7.7 billion over the past month, a decline of about 30%. The media outlet explained, "A decrease in open interest usually signals reduced speculative demand and a slowdown in profit-taking by leveraged investors," adding, "In January, when XRP's open interest plunged from $8 billion to $3 billion, its price fell by more than 50%." It further analyzed, "If technical indicators show open interest continuing to decline, a strong buying force could enter in the $2.33–2.65 range for XRP." As of 03:12 on the 27th, on the Binance Tether (USDT) market, XRP is trading at $2.9381, down 0.86% from the previous day.