Bitcoin Surges on Pizza Day Amidst Political Turmoil
On Bitcoin Pizza Day, Bitcoin has reached a new all-time high, surpassing the remarkable $110,000 mark, marking a significant milestone in the crypto world. This surge coincides with congressional Democrats raising concerns over a dinner hosted by President Trump that caters to wealthy supporters of the Official Trump meme coin. Critics view this gathering as a means to reward financial backers and are calling for stricter legislation to limit the involvement of government officials in cryptocurrency markets.
Key political figures, including Senators Elizabeth Warren and Chris Murphy, are championing new bills, such as the Stop TRUMP Act introduced by Rep. Maxine Waters, aimed at curtailing these entanglements. Additionally, the Senate has advanced the GENIUS Act, a bill focusing on stablecoin regulations, expertly crafted by Sen. Bill Hagerty.
In an exciting development for the stablecoin sector, Circle has launched a new payment network, enhancing the options available in the digital currency landscape. Furthermore, Bitcoin mining firm MARA has formed a partnership with investment adviser Two Prime to generate yield on its BTC holdings, showcasing a growing trend among public companies leveraging Bitcoin for financial strategy.
The crypto community has other significant updates, including the conviction of SafeMoon’s CEO for fraud, trading of the Official Trump crypto on a banned exchange, and Kraken's initiative to introduce tokenized stock trades outside the U.S. In addition, the Texas House has passed a bill to establish a strategic Bitcoin reserve, fortifying Texas's status as an emerging crypto hub.
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