ARK Invest snapped up $21 million worth of Bullish and $16 million of Robinhood shares, extending its buying streak despite a sector-wide sell-off. Cathie Wood’s ARK Invest doubled down on crypto-linked equities, scooping up shares of Bullish and Robinhood amid a broad sector sell-off. According to Tuesday’s trade notifications, ARK Invest’s flagship ARK Innovation ETF (ARKK) purchased 356,346 shares of Bullish, valued at about $21.2 million, and 150,908 shares of Robinhood Markets, worth $16.2 million. Last week, ARK Invest went big on Bullish, acquiring 2.53 million shares, worth $172 million, across three ETFs after the crypto exchange’s debut on the New York Stock Exchange. Read more
Federal Reserve vice chair for supervision, Michelle Bowman, says the central bank should roll back its restrictions that ban staff from buying crypto. The Federal Reserve’s top regulatory official says staff from the US central bank should be allowed to invest a small amount in crypto to help them understand the technology. Fed vice chair for supervision Michelle Bowman said at a blockchain event in Wyoming on Tuesday that the regulator should consider allowing its staff “to hold de minimus amounts of crypto or other types of digital assets so they can achieve a working understanding of the underlying functionality.” “We will soon be establishing a framework for supervising issuers of these assets,” she added. Read more
Bitcoin’s drop below $113,000 reflects investors’ worries about the US economy, stock markets and crypto, but the volatility does not end BTC’s long-term bullish trend. Key takeaways: Bitcoin’s options market signals extreme fear, but historical patterns show potential for significant rebounds. Global economic pressures from US trade tariffs negatively affected traders’ sentiment. Read more
SoFi Technologies will leverage the Bitcoin network under a partnership with Lightspark to better compete in the $740 billion global remittance market. Digital bank SoFi Technologies is set to become the first US bank to leverage the Bitcoin network and Universal Money Address — allowing Americans, Mexicans, and others to send money through the Lightning Network. SoFi partnered with Bitcoin (BTC) payments infrastructure Lightspark to launch its blockchain-powered international money transfer service, which will go live later this year, starting in Mexico, SoFi said in an announcement on Tuesday. “For many SoFi members who regularly send money to loved ones internationally, the ability to quickly transfer money at low cost isn’t just a convenience, it’s a meaningful improvement to their everyday financial lives,” SoFi CEO Anthony Noto said on X. Read more