Smaller tokens lead as bitcoin, sol rally in 'first real bounce of the selloff'

Mike Selig, Chairman of the Commodity Futures Trading Commission (CFTC), stated that Illinois' implementation of sin tax legislation on blockchain technology poses a threat to Chicago's position as a financial market center. The bill imposes a tax on the transfer of encrypted assets that do not generate economic benefits. Mike Selig called it a slowing legislation and criticized the bill for transforming residents' property rights from inherent rights to permissioned privileges. Mike Selig added that replacing the policy choice of driving economic growth with a tax on cryptocurrency wallets may be seen by history as a turning point or recession signal for Chicago's financial development.

The bank said Strategy's bitcoin sales policy adds avoidable market uncertainty and should be replaced with equity issuance to build cash reserves.

Jersey stated that the non farm payroll report poses a risk to the Fed's dual mission, and the view of Fed Chairman Kevin Walsh downplaying the employment mission differs from most members of the committee. Unless inflation remains above 3% and is expected to remain above that level, the Fed will maintain the current policy rate unchanged.

Anchorage Digital integrates Lido liquidity staking into institutional platforms, allowing customers to use wstETH in a digital asset custody environment and connect to Lido dApps for casting and destroying wstETH.

Ilia Polosukhin, co-founder of NEAR Protocol, responded to the proposal to destroy NEAR Foundation tokens in a post, stating that the destruction method is inefficient, and is preparing a new proposal to achieve NEAR fixed supply.