BTC breaks through the $97000 mark

At the close of the US stock market, the Dow Jones Industrial Average fell 0.5%, the Nasdaq rose 0.03%, and the S&P 500 index fell 0.27%.

Binance BNB/USDT is currently trading at $700.00, with a 24-hour increase of 11.33%. Please be aware of market fluctuations.

Circle's USDC, the second-largest stablecoin on the market, rose to a record market capitalization over $56 billion this week as stablecoin growth showed signs of reaccelerating.See all newslettersUSDC added $10.2 billion to its market cap over the past month, driven primarily by rising Solana-based DeFi trading volumes, Artemis data shows. That's more than double the $4.6 billion growth of Tether's USDT, the largest stablecoin in the market and Circle's biggest competitor, during the same period. USDT still dominates the stablecoin space with a $142 billion market cap.With the latest growth spurt, USDC surpassed its 2022 peak and fully recovered from the 2023 U.S. regional-banking crisis, which dealt a serious blow to the cryptocurrency. At the time, Circle held a part of stablecoin reserves in bank deposits at Silicon Valley Bank, which suffered a bank run and led to USDC temporarily losing its peg to the U.S. dollar. Many token holders fled to USDT, helping Tether to surpass its 2022 peak market capitalization as early as May 2023.Stablecoins are a special type of cryptocurrencies with prices anchored to an external asset, predominantly to the U.S. dollar. USDT and USDC are widely used for trading on crypto exchanges and serve as a key source of liquidity. Thus, their expanding supply is a key indicator of investor demand and overall health of crypto markets.After a period of tepid action in December and early January, USDT and USDC growth accelerated in the past weeks, data shows. Previous growth spurts, such as between late October and early December and October 2023 to April 2024, coincided with steep rallies in bitcoin (BTC) and altcoin prices.Accelerating stablecoin growth, while it's only one of the factors influencing crypto markets, offers a positive signal for the overall market health amid macro headwinds and consolidating prices.

Odaily Planet Daily News: CZ stated on X that they have now received the answer, and the way things work is really interesting. I will take about a day to carefully consider whether to respect his privacy or expose this dog for the sake of my career, as I usually do when making major decisions? Maybe I will interact with a few memes on the BNB chain. Odaily previously reported that CZ has announced its pet dog breed and responded to a netizen who asked about its name, how Meme operates and was created, and how to determine which one is official. In the end, netizens replied with comments such as "the first one is orthodox" and "there will be hundreds of memes, and the one most supported by the community will win". CZ also conducted multiple comments and interactions.

The U.S. Securities and Exchange Commission (SEC) likely doesn’t have jurisdiction over many of the memecoins flooding the crypto market, SEC Commissioner Hester Peirce said in a Tuesday interview with Bloomberg.See all newsletters“We always have to look at the facts and circumstances, but many of the memecoins that are out there probably do not have a home in the SEC under our current set of regulations,” Peirce said. “If that’s something Congress wants to address, they can do that. Maybe that’s something that the [Commodity Futures Trading Commission] wants to address. But many of those, I think, are probably not within our jurisdiction.”Memecoins, unlike cryptocurrencies like bitcoin and ether, have no inherent value. For years, many in the industry have pushed back on regulating them like securities, arguing that they’re more like digital beanie babies or baseball cards than investment contracts.Peirce’s hands-off stance is a marked shift away from the SEC’s approach to crypto regulation under former Chairman Gary Gensler, who frequently asserted that all crypto tokens aside from Bitcoin were securities. Just one day after Gensler stepped down, Acting Chair Mark Uyeda announced the formation of a new Crypto Task Force, spearheaded by Peirce, promising regulatory clarity for the crypto industry and signaling a shift away from the so-called “regulation by enforcement” practiced by Gensler.Last week, Peirce laid out a roadmap for the Crypto Task Force’s top priorities, including resolving the long-standing question of what makes a crypto asset a security vs. a commodity and creating a more viable path to registration by modifying the SEC’s existing paths. In the same statement, Peirce previewed her stance toward memecoins, writing:“If people want to buy a token or product that lacks a clear long-term value proposition, they should feel free but should not be surprised some day if the price drops. In this country, people generally have a right to make decisions for themselves, but the counterpart to that wonderful American liberty is the equally wonderful American expectation that people must decide for themselves, not look to Mama Government to tell them what to do or not to do, nor to bail them out when they do something that turns out badly.”SEC Commissioner Hester Peirce Lays Out 10 Priorities For New Crypto Task Force