Trump signs cryptocurrency law
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A new study calls into question the wisdom of diversifying across many crypto assets. Bitcoin by itself has historically performed better than anything else.
The president is set to sign an executive order that would open up 401ks to investments beyond just traditional stocks and bonds.
The crypto sector's market value hit $4 trillion on Friday, according to CoinGecko, marking a milestone that reflects its shift from a nascent asset class to a central part of the global investment landscape.
Galaxy is expanding aggressively to meet surging demand and remain competitive as more investors flood into the cryptocurrency sector, the company’s global head of asset management said.
The stablecoin bill, known as the Genius Act, and the crypto market structure bill, known as the Clarity Act, both received notable bipartisan support. Democratic lawmakers joined with Republicans to pass the stablecoin bill 308-122.
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Crypto-focused stocks rose on Friday, after ether hit a six-month high on the passage of a stablecoin bill by the U.S. House of Representatives.
A legislative win in Congress, and the promise of more to come, has helped lift the prospects and the wealth of the cryptocurrency industry.
Per the Post, Trump has the biggest stake in crypto, worth at least $51 million. His partner on the ticket, JD Vance, also got his beak wet. He reported holding between $250,001 and $500,000 in Bitcoin in his 2024 financial disclosure.