Responding to a report about crypto ATM fraud in Wyoming, Senator Cynthia Lummis said the chamber’s market structure bill could address specific risks. With members of the US Senate Banking Committee expected to vote on legislation to address digital asset market structure by the end of the month, one of the bill’s proponents has suggested that the chamber’s version could address fraud through cryptocurrency ATMs. In a Monday X post, Wyoming Senator Cynthia Lummis said one of the issues she and New York Senator Kirsten Gillibrand “hope to address in market structure” was instances of fraud involving Bitcoin (BTC) ATMs. She cited a report in which the Cheyenne police department “identified 50 instances of fraud” predominantly affecting seniors through crypto ATMs, totaling “more than $645,000.” Read more
Fed Chair Jerome Powell warned of labor market weakness after Fed’s first rate cut in nine months, as futures markets bet on more easing ahead. Federal Reserve Chair Jerome Powell on Tuesday reiterated the central bank’s delicate balancing act, stressing that policymakers are trying to navigate between their price stability and employment mandates following last week’s interest rate cut. “Recent data show that the pace of economic growth has moderated,” Powell said in prepared remarks at the Greater Providence Chamber of Commerce’s economic outlook luncheon in Rhode Island, adding: He added that clearer trade policy means tariffs will likely trigger only a “one-time pass-through” effect on inflation. That may be interpreted as a slight shift from earlier warnings that tariffs could fuel more sustained cost pressures in the second half of the year. Read more
Data support the view that Bitcoin trades at a discount, and traders are buying the dip, but charts still warn of a potential sell-off to $106,000. Key takeaways: Buying among retail and whale-sized traders helped slow down the BTC price sell-off, but bears still have a good chance of exploiting long liquidations to $106,000. Spot and perpetual futures volumes lack aggression, preventing a lasting trend reversal, and sellers continue to sell into price rebounds. Read more
According to the lawsuit, Justin Sun’s crypto holdings included about 60 billion Tron, 17,000 Bitcoin, 224,000 Ether and 700 million Tether as of February. A US judge has set Tron founder and CEO Justin Sun’s lawsuit against Bloomberg back a peg after denying a temporary restraining order and injunction over publishing information about his cryptocurrency holdings. In a Monday filing in the US District Court for the District of Delaware, Judge Colm Connolly sided with Bloomberg in Sun’s lawsuit over “disclosed amounts of specific cryptocurrency he owns.” According to the filings, the holdings included about 60 billion Tron (TRX), 17,000 Bitcoin (BTC), 224,000 Ether (ETH) and 700 million Tether (USDt). The publication had reached out to Sun’s team in February to gather information about the Tron founder’s wealth for its Billionaires Index. Read more
In an interview with Cointelegraph Bitwise CIO Matt Hougan outlines why Bitcoin could climb to over $1 million by 2035, pointing to Wall Street’s growing embrace of crypto. How high can Bitcoin really go? For Matt Hougan, chief investment officer at Bitwise, the answer might surprise even the most optimistic crypto bulls. In an in-depth conversation with Cointelegraph, Hougan laid out his long-term forecast for Bitcoin: $1.3 million per coin by 2035. Far from a wild guess, this projection is based on a detailed institutional report that models Bitcoin’s role as a store of value, its competition with gold, and the growing wave of institutional adoption. Hougan argues that three factors are converging to reshape Bitcoin’s trajectory: ballooning government debt, a regulatory climate that has turned from hostile to favorable, and the arrival of Bitcoin exchange-traded funds (ETFs), which make it easier than ever for Wall Street to invest. Read more