NEWS: Update on the news from the past 24 hours!
🇺🇸 Elon Musk is reportedly pausing plans to launch a new pro-Bitcoin party called "America Party," instead focusing on his companies according to WSJ.
🚨 Retail traders have become extremely pessimistic after Bitcoin dropped below $113k.
🔥 SoFi Technologies is partnering with Lightspark to integrate Bitcoin Lightning and Global Currency Address, becoming the first bank in the U.S. to use the Lightning Network for money transfers.
🇧🇷 Brazil will hold a public hearing on the draft national Bitcoin reserve.
🇨🇳 China is considering allowing stablecoins backed by the yuan.
🔥 Minister Bessent predicts the stablecoin market will reach $2 trillion and become a major buyer of U.S. Treasury bonds.
⚡️ The Bitcoin Fear & Greed Index has dropped to 44, signaling "fear," down from 56 yesterday and 73 a week ago.
🔥 The ETH/BTC ratio has reached a 2025 high of over 0.037 as Ethereum spot ETFs attracted $9.4 billion in inflows and Treasury bonds now hold over 2% of the ETH supply.
🔥 Goldman Sachs says the stablecoin market has the potential to grow into the trillions.
🚨 Demand for Bitcoin has sharply declined, with inflows dropping to just 59 thousand BTC and ETFs at a four-month low.
🇺🇸 The Fed minutes reveal that a majority of FOMC officials view inflation as a greater risk than concerns about the labor market at the July meeting.
⚡️ $57.6 million in USDC assets related to the Libra meme coin scandal have been released from a freeze by a federal judge in Manhattan.
🇺🇸 The Winklevoss twins (owners of Gemini) donated 188 BTC worth $21 million to a PAC supporting Trump ahead of the U.S. midterm elections to back President Trump's cryptocurrency agenda.
🚨 Senator Cynthia Lummis stated, "We will have a cryptocurrency market structure bill on the president's desk by the end of the year."
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