Amid fluctuations in the cryptocurrency market, Bitcoin’s price fell by 1% to $86,600, while Ethereum also declined by 1% to close at $2,910. In contrast, Binance Coin rose by 1% to $856, and Solana’s price remained stable. Among the notable gainers, MON surged by 24%, with SPX and IP increasing by 13% and 7%, respectively. On the policy and institutional front, Texas launched a Bitcoin reserve and invested $5 million in BlackRock’s IBIT ETF, marking the first use of its approved $10 million Bitcoin budget—an important step toward official state adoption of Bitcoin. Meanwhile, US Bank completed trials for issuing its stablecoin on the Stellar network, and MoonPay obtained a new trust charter in New York, enabling it to expand institutional custody and services alongside companies like Coinbase and Ripple. Additionally, PolyMarket received approval from the US Commodity Futures Trading Commission (CFTC) to resume operations in the United States, offering services to domestic users, brokers, and intermediaries. However, Nevada blocked Kalshi from offering markets on sports and elections after a judge reversed a previous decision. Klarna introduced its stablecoin KlarnaUSD, available on Tempo. Furthermore, the Department of Homeland Security is investigating Bitmain over national security concerns regarding remote access to its devices, highlighting security issues within the industry. These developments reflect rapidly evolving trends in the US cryptocurrency and blockchain sector.
Source: decrypt
