See the note people are looking towards gold and crypto in high demand as they are intertwined somehow because they are both "liquid assets" the article claims.
The original cryptocurrency surged past $111,000 for the first time. |
| BITCOIN'S HOT STREAK CONTINUES |
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Bitcoin surged past $111,000 for the first time on Thursday, surpassing its previous January record before slightly retreating. Smaller tokens also rose in a broad rally, with second-ranked ether up about 7.3% at one point.
The cryptocurrency has been steadily climbing this month, benefiting both from broader market liquidity pushing investors toward risk assets and ongoing concerns about U.S. tariffs and deficits, fueling demand for alternatives like gold and crypto. Cumulative inflows into exchange-traded funds tracking bitcoin exceeded $40 billion last week, with just two days of outflows in May, according to data from SoSoValue.
Corporate investments are also driving the asset higher. The amount of bitcoin held by public and private companies has surpassed $110 billion, equivalent to roughly 5% of the current circulating supply, according to Bitcoin Treasuries.
JPMorgan CEO Jamie Dimon remains skeptical, although he's not preventing clients from accessing bitcoin. "I am not a fan of it. We are going to allow you to buy it. And we're not going to custody it. What we're going to do is put it on statements for clients," Dimon said at the bank's investor day on Monday. "So, you know, I don't think we should smoke, but I defend your right to smoke. I defend your right to buy bitcoin, go at it." |
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| WALL STREET'S STABLECOIN PLANS |
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Leading U.S. banks, including JPMorgan, Bank of America, CitiGroup, and Wells Fargo, are considering launching a joint stablecoin, the Wall Street Journal reported Thursday.
Discussions have so far involved firms co-owned by these banks, including Early Warning Services, which operates the Zelle peer-to-peer payment system, and The Clearing House, the real-time payment network. One potential consortium model, according to the report, would make the stablecoin accessible to other banks as well.
The discussions remain preliminary and are contingent on regulatory developments. |
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| CURRENT PRICE OF TOP 5 COINS (7-Day % Change) |
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| Coin | Price | Percent Change | | Bitcoin (BTC) | | $109,044 | | | Ether (ETH) | | $2,560 | | | Tether (USDT) | | $1.00 | | | XRP (XRP) | | $2.35 | | | BNB (BNB) | | $675 | | |
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| STABLECOIN LEGISLATION GAINS MOMENTUM |
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Meanwhile, the Senate advanced its stablecoin bill, the GENIUS Act, on Monday, securing bipartisan support just two weeks after unified Democratic opposition blocked it.
The legislation mandates that stablecoin issuers back their tokens with safe, liquid assets like U.S. Treasury bills. Negotiations led to several key amendments, notably new restrictions for tech giants such as Meta and Alphabet should they seek to issue their own stablecoins.
Lawmakers now need to vote on these amendments. Despite bipartisan momentum, some Democrats remain wary of President Trump's personal involvement in crypto. The Trump family's World Liberty Financial recently launched its own stablecoin, and on Thursday, the president hosted a gala dinner for the largest holders of his meme coin.
Also: The Man Behind Bitcoin Pizza Day Spent More Bitcoin Than You Think |
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| Trump's Crypto Dinner Cost Over $1 Million Per Seat On Average | | | |
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| Circle Pursues IPO—But Talks With Coinbase And Ripple Could Mean A Sale, Sources Say | | | |
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| Metaplanet Achieves Record-Breaking Quarter Through Bitcoin Treasury Strategy | | | |
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