White House To Host Crypto And Banking Executives For Talks

The White House will convene executives from the banking and crypto sectors on Monday, February 2 to discuss a path forward for stalled U.S. crypto legislation, according to Reuters reporting.

Hosted by the administration’s crypto council, the summit is expected to include leaders from major trade associations and focus on contentious provisions — particularly how proposed law would treat interest and other rewards that crypto firms pay on customer holdings of dollar-pegged stablecoins.

The meeting shows the Trump administration’s eagerness to broker a compromise and advance the legislation after negotiations floundered amid competing priorities and industry… Read more on BitcoinMagazine

Crypto’s Next Cycle Belongs To Banks, Not Token Narrative

Flashy protocols or smart token mechanics won’t lead the next cycle in crypto. Instead, it will be led by companies that did the “boring” work of obtaining licenses, building compliance systems, and securing distribution through banks and regulated channels. At the same time, the markets were focused on speculation.

Everyone can already see that reality in the number of deals being made, the growth of stablecoins, and the steady entry of traditional banks into the crypto space.

Although the cryptocurrency industry was once referred to as the “Wild West” due to a lack of clear-cut regulation, as well as its perceived disregard for existing rules, this viewpoint is now a competitive…

Read more on Benzinga

Coinbase Backs Trump Accounts, Explores Bitcoin For Kids

Coinbase announced plans to participate in President Donald Trump’s newly launched Trump Accounts program — and is exploring delivering its matching contribution in Bitcoin rather than traditional financial assets. 

In a social media post today, Coinbase CEO Brian Armstrong indicated the company intends to support the initiative within Coinbase and with its employees. Armstrong wants to match the federal government’s $1,000 seed money for eligible children and wants to do it in Bitcoin. 

“Starting to invest early is more important than ever. Trump Accounts  is a great move to kick-start financial security + literacy for children,” Armstrong posted. “We’re proud…

Read more on BitcoinMagazine

Why Bitcoin, Ethereum Sentiment Is So Cautious Even As Gold, Silver Surge

Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are entering Q1 on cautious sentiment after months of range-bound trading.

Bitcoin Sentiment Shifts

In its Charting Crypto Q1 report, Glassnode in collaboration with Coinbase (NASDAQ:COIN) Institutional, stated that Bitcoin continues to trade in a low-conviction sentiment regime.

Net Unrealized Profit/Loss (NUPL) shifted from Belief to Anxiety during October’s liquidation event, a transition that historically aligns with consolidation phases where investors stay engaged but hesitant.

Structurally, this backdrop leaves room for upside if volatility continues to compress or macro conditions remain supportive.

The October liquidation also flushed…

Read more on Benzinga

Fidelity Launches FIDD Stablecoin To Challenge Circle’s USDC, Tether’s USDT – Circle Internet Group (NYSE:CRCL)

Fidelity Investments is launching the Fidelity Digital Dollar (FIDD) stablecoin in early February to compete in the $308 billion stablecoin market dominated by Circle’s (NYSE:CRCL) USDC (CRYPTO: USDC) and Tether’s USDT (CRYPTO: USDT).

FIDD: How It Works

The stablecoin will be issued by Fidelity Digital Assets, a federally chartered national trust bank that received approval from the Office of the Comptroller of the Currency in December.

FIDD is pegged 1-to-1 to the U.S. dollar and backed by cash and short-term U.S. Treasuries.

For every FIDD token in circulation, Fidelity holds $1 in reserves—just like how Circle and Tether back their stablecoins.

The reserves comply with the GENIUS…

Read more on Benzinga

Gold Rallies To $5,300, Memory Stocks Go Wild: Markets Today – Automatic Data Processing (NASDAQ:ADP)

Wall Street posted modest gains on Wednesday, while gold extended its relentless rally, shattering records above $5,300 an ounce ahead of the Federal Open Market Committee meeting.

The yellow metal is now up more than 22% this month, putting it on track for its strongest monthly performance since January 1980. Meanwhile, silver rose nearly 3% to $114 per ounce, eyeing its best-performing month ever after surging 59% year-to-date.

U.S. equities opened higher but lost momentum as the session wore on. The S&P 500 briefly touched a fresh all-time high near 7,000 before slipping about 30 points in midday New York trading. The Nasdaq 100 outperformed, rising 0.4% to break above 26,000 and move…

Read more on Benzinga

Strive ($ASST) Pays Off Semler Debt, Buys $29M In Bitcoin

Strive, Inc. announced today that it has closed an upsized and oversubscribed follow-on offering of its Variable Rate Series A Perpetual Preferred Stock, raising $225 million amid strong institutional demand and accelerating the retirement of legacy debt from its Semler Scientific acquisition.

The Dallas-based firm said it sold 1.32 million shares of the preferred stock — known as SATA — at $90 per share, after demand exceeded $600 million. The offering was initially targeted at $150 million before being increased alongside a series of privately negotiated note exchanges.

As part of the transaction, Strive retired $110 million of the $120 million in debt assumed from Semler…

Read more on BitcoinMagazine

Cathie Wood Expects More Bitcoin Consolidation, But Not For Much Longer

ARK Invest CEO Cathie Wood reiterated her bullish outlook on Bitcoin (CRYPTO: BTC), while outlining the key innovation themes shaping her investment strategy.

Bitcoin: The Liquid Asset Redefining Markets

In a recent Fox Business interview, Wood said markets are entering a “Great Acceleration,” driven by how early the AI cycle still is.

She noted that not all companies will benefit, particularly traditional software firms slow to adapt.

ARK focuses on five converging innovation platforms: artificial intelligence, robotics, energy storage, blockchain, and multiomic sequencing.

According to Wood, long-term winners will be those aligned with these disruptive technologies.

Wood’s Bitcoin Price… Read more on Benzinga

Bitcoin Price Jumps Above $90,000 Ahead Of Fed Meeting, Senate Vote

The Bitcoin price surged early Wednesday, reclaiming the $90,000 level as traders digested fresh macro signals and growing momentum around U.S. crypto regulation.

The move followed a sharp reversal from weekend lows near $86,000, with the bitcoin price climbing to highs of $90,361 into the day, according to Bitcoin Magazine Pro data. 

All this is happening as the market braced for the Federal Reserve’s first rate decision of the year later today, with futures pricing in an almost certain hold on rates Wednesday. 

With unemployment at 4.4%, traders are focused less on inflation and more on whether Chair Jerome Powell signals concern about labor market softness. 

If…

Read more on BitcoinMagazine