Here is what happened yesterday in the crypto market:
eToro Stock Surges on First Day of Trading After $4.2B IPO
Shares of eToro climbed nearly 29% in their Nasdaq debut after going public at a roughly $4.2 billion valuation. The company raised about $310 million from investors. Read more
Trump’s Crypto Involvement Complicates Stablecoin Legislation
U.S. President Donald Trump’s crypto ventures, including the TRUMP memecoin, have complicated bipartisan efforts to pass stablecoin legislation, according to Rep. French Hill. Top House Democrats are also requesting Treasury info on Trump’s crypto deals, citing bribery risks. Read more
Standard Chartered Provides Banking Services for FalconX
Standard Chartered is now providing banking services for institutional prime broker FalconX, offering currency pairs to enhance cross-border settlement for the crypto broker. Read more
CFTC Commissioner Mersinger to Become Blockchain Association CEO
Summer Mersinger, a Republican commissioner at the Commodity Futures Trading Commission (CFTC), will take over as the CEO of the Blockchain Association. Read more
Bitcoin May Be Headed Towards a 2021-Like Double Top, $500k Would Seal Crypto as an Asset
Bitcoin’s long-term potential remains largely untapped, according to Pantera Capital CEO Dan Morehead. SkyBridge Capital CEO Anthony Scaramucci stated that if Bitcoin reaches $500,000, it will solidify its status as a mainstream asset class. Read more and Read more