Here is what happened yesterday in the crypto market:
Trump Allows Crypto in 401(k) Retirement Plans
U.S. President Donald Trump has signed an executive order permitting crypto investments within 401(k) retirement plans, potentially opening up significant capital flow into the digital asset space. This move could reshape how Americans invest their retirement savings, making cryptocurrencies more accessible to a broader retail audience. Read more
Bitcoin Surges Past $117K Amid Market Optimism
Following a brief dip, Bitcoin has rebounded above $117,000, regaining its July trading range. This surge comes as market sentiment turns increasingly bullish, with the Crypto Fear & Greed Index moving into “Greed” territory. The price movement indicates robust buying activity and a potential continuation of upward trends. Read more
Ripple Acquires Stablecoin Payments Firm Rail for $200M
Ripple has announced its acquisition of Rail, a stablecoin payments platform, for $200 million. This strategic move aims to boost Ripple’s stablecoin efforts, particularly related to its RLUSD. The deal is expected to finalize in the fourth quarter of this year, strengthening Ripple’s position in the stablecoin and payments landscape. Read more
SEC Concludes Long-Running Case Against Ripple
The U.S. Securities and Exchange Commission’s lawsuit against Ripple Labs, initiated in 2020, has officially concluded. Both parties informed the Second Circuit Court of Appeals of their voluntary dismissal, bringing an end to the highly scrutinized legal battle that heavily impacted XRP’s market performance. Read more
JPMorgan Notes Continued Disappointment in DeFi and Tokenization Growth
Despite overall market enthusiasm, JPMorgan’s Nikolaos Panigirtzoglou reports that the growth of decentralized finance (DeFi) and asset tokenization continues to underwhelm. The report highlights a stagnant recovery in these sectors, suggesting that widespread adoption and significant innovation are still lagging. Read more