#WriteToEarnUpgrade The US Federal Reserve has withdrawn a 2023 guidance that limited how Fed-supervised banks, including uninsured ones, engaged with crypto, as US regulators continue to pivot positively toward digital assets.
#BTCVSGOLD The 2023 guidance required uninsured banks to follow the same rules as federally insured institutions, based on the principle that similar activities pose similar risks and should be subject to identical regulation.
This prevented uninsured banks from engaging in activities that weren’t permitted for national banks, like crypto services, which automatically disqualified Fed membership because the institution’s primary activities weren’t allowed.
Fed says financial system has evolved since 2023 The Fed said a key reason for withdrawing the guidance was that it was outdated and “the financial system and the Board’s understanding of innovative products and services have evolved.”
“As a result, the 2023 policy statement is no longer appropriate and has been withdrawn,” it said.
Caitlin Long, the CEO of the crypto‑focused Custodia Bank, applauded the move in an X post on Wednesday, explaining the 2023 guidance was why her institution’s application for a master account was previously denied.
World Liberty proposes using 5% of treasury to boost its stablecoin The Trump-linked firm is considering using $120 million from its treasury to boost USD1 stablecoin adoption and challenge larger rivals.
Ad Brian Quarmby Brian Quarmby 16 minutes ago World Liberty proposes using 5% of treasury to boost its stablecoin The Trump-linked firm is considering using $120 million from its treasury to boost USD1 stablecoin adoption and challenge larger rivals.
Listen 2:35 World Liberty proposes using 5% of treasury to boost its stablecoin News COINTELEGRAPH IN YOUR SOCIAL FEED Subscribe on Follow our Trump family-backed World Liberty Financial has proposed using 5% of the project’s WLFI token treasury to grow the supply of its stablecoin USD1.
The proposal was posted to the World Liberty Financial governance forum on Wednesday, with the team highlighting the importance of increasing USD1 supply to keep up with “an increasingly competitive stablecoin landscape.”
The proposal outlines that the additional supply would help spread “USD1 use cases across select high-profile CeFi & DeFi partnerships,” with increased adoption helping to create more “value capture” opportunities in the WLFI ecosystem.
“As USD1 grows, more users, platforms, institutions, and chains integrate with World Liberty Financial infrastructure. This increases the scale and influence of the network governed by WLFI holders,” the team said.
“More USD1 in circulation leads to more demand for WLFI-governed services, integrations, liquidity incentives, and ecosystem programs,” it added.
World Liberty Financial’s WLFI token started trading on exchanges in September. Leading up to the launch, the project indicated that 19.96 billion of the total WLFI supply would be allocated to the treasury. At current prices, that total sum is worth almost $2.4 billion, with a 5% unlock equating to around $120 million.
Bitcoin price at ‘critical’ point as whale moves $348M BTC to exchanges A whale moved 4,000 Bitcoin to Binance, sparking fresh fears of a deeper BTC price drop if the $81,500 support level is lost.
Bitcoin risks plunging into a bear market if it breaks below the True Market Mean at $81,500.
Two wallets linked to Matrixport transferred 4,000 Bitcoin to Binance, fueling fears of a fresh sell-off.
Bitcoin price must hold $81,500 Bitcoin has dropped toward and found support near its True Market Mean (TMM), currently at $81,500, according to onchain data provider CryptoQuant.
The True Market Mean, or the Active-Investor Price, represents the cost basis of all non-dormant coins, excluding miners.
“This level has acted like a psychological line in the sand,” CryptoQuant analyst MorenoDV_ said in a Quicktake analysis on Wednesday.
Related: Bitcoin institutional buys flip new supply for the first time in 6 weeks
When BTC trades above it, investors are generally comfortable, but when this support is lost, the “same level often flips into resistance, as people who bought near the average cost use rallies to exit,” the analyst said, adding:
“Failure to hold the $81.5K level will likely result in a sharp break below, followed by a search for support in the coming months.”
Bitcoin: True Market Mean. Source: CryptoQuant The chart above shows that the BTC/USD pair traded above this level from Jan. 22 to May 5, 2022. When BTC dropped below this level on May 6, the price lost a further 61%, bottoming at $15,500 in November of that year.
Tether leads $8M funding for Lightning startup focused on stablecoins Speed, which leverages the Bitcoin Lightning Network to facilitate USDT transfers, has secured $8 million from Tether and Ego Death Capital.
“Speed’s architecture demonstrates how Lightning and stablecoins can operate together to move money at high scale with low fees, strong compliance, and global reach,” Tether said in a statement on Tuesday.
“Speed’s execution and adoption signal that Bitcoin-rooted networks are ready for mainstream commerce,” Tether’s CEO Paolo Ardoino added.
The Bitcoin ecosystem-focused Ego Death Capital also contributed to Speed’s $8 million investment round.
Speed serves over 1.2 million consumers, creators, platforms, and enterprise merchants using its Speed Wallet and Speed Merchant products, processing more than $1.5 billion in annual payment volume.