Some Republicans’ initial plans to have crypto market structure out of committee by November have been sidetracked by the government shutdown. The shutdown of the US government entered its 38th day on Friday, with the Senate set to vote on a funding bill that could temporarily restore operations. According to the US Senate’s calendar of business on Friday, the chamber will consider a House of Representatives continuing resolution to fund the government. It’s unclear whether the bill will cross the 60-vote threshold needed to pass in the Senate after numerous failed attempts in the previous weeks. Amid the shutdown, Republican and Democratic lawmakers have reportedly continued discussions on the digital asset market structure bill. The legislation, passed as the CLARITY Act in the House in July and referred to as the Responsible Financial Innovation Act in the Senate, is expected to provide a comprehensive regulatory framework for cryptocurrencies in the US. Read more
Tempo leads an investment round in startup Commonware to advance blockchain infrastructure for real-world payments. Crypto infrastructure startup Commonware has raised $25 million in a funding round led by Tempo, a payments-focused blockchain network, underscoring a renewed effort to scale blockchain-based payment systems. The deal, first reported by Fortune on Friday, is notable because Tempo was launched in September by fintech giant Stripe and crypto venture firm Paradigm. Commonware said other investors participated in the round but declined to name them. Commonware develops open-source software that allows other companies to build and deploy their own blockchains, supporting the growing ecosystem of payment-oriented Web3 infrastructure. Read more
As AI-powered trading tools gain traction across crypto markets, industry insiders say most traders misunderstand how these models actually work and where their real risks lie. AI-powered trading bots are rapidly gaining attention across crypto markets, sparking both excitement and unease among traders hoping to automate their strategies. But industry experts say most people still misunderstand what these bots can and cannot do and why specialized trading AIs behave very differently from general-purpose tools like ChatGPT. This week’s episode of Byte-Sized Insight dives into the rise of AI trading tools, the hype behind them and the risks investors should consider before trusting automated systems with their capital. Brett Singer, sales and research lead at Glassnode, and Nodari Kolmakhidze, chief financial officer and partner of Cindicator — which built Stoic.AI — are two professionals working directly at the helm of the data, algorithms and traders shaping the next generation of AI-driven strategies. Read m...
Bitcoin sought a higher low while risking a breakdown of $100,000 support, as analysis said a BTC price rebound could come without much fuel. Key points: Bitcoin liquidity games continue as pressure mounts on $100,000 support. Signs of price forming a higher low combine with RSI strength slowly increasing. Read more
Privacy coins are on a tear this week, with Zcash flipping Monero for the largest privacy coin. Privacy tokens are taking center stage this week, bucking the slump that has affected the broader cryptocurrency market. Notable commentators in the cryptocurrency space have been predicting a spike in privacy coin prices for months. Their projections now appear to be coming true. Some have wondered whether there hasn’t been a coordinated effort to pump privacy coin prices. Zcash Foundation’s executive director, Alex Bornstein, has told Cointelegraph that Zcash’s recent success is due to broader concerns about governments infringing on users’ right to privacy. Read more
Ether's price drop to $3,000 was likely a buy-the-dip opportunity with ETH set to recover, based on several key market metrics. Key takeaways: Ether’s profitability metrics drop to levels that have historically marked local bottoms. Ethereum fees up 83% weekly, signalling strong onchain demand. Read more
The government is reportedly considering converting part of its sovereign wealth and gold holdings into digital assets, signaling the rise of crypto as a state-level asset class. Kazakhstan’s government is reportedly considering converting a portion of the country’s National Fund assets, as well as part of its gold and foreign exchange reserves, to fund a cryptocurrency reserve. According to The Times of Central Asia, Berik Sholpankulov, deputy chairman of Kazakhstan’s National Bank, announced the initiative during a recent parliamentary session. A Bloomberg Law report Friday suggested the government aims to allocate between $500 million and $1 billion to the effort. “I think by year end, January next year, we will have it up and running,” Sholpankulov said, according to Bloomberg. Sholpankulov said the creation of a state-managed crypto asset fund is under discussion among government officials. “We are considering the possibility of using part of the National Fund’s assets and gold and foreign exchange reser...