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The next U.S. administration will be "constructive" on crypto regardless of which party wins, Coinbase CEO Brian Armstrong said late on Thursday, underscoring the industry's growing political influence ahead of the November election. The highly volatile crypto sector is seen as a risky fringe industry and has drawn intense scrutiny from the U.S. Securities and Exchange Commission, which has accused it of flouting securities laws. The largest U.S. crypto exchange is fighting the SEC in court after the regulator sued Coinbase last year alleging it failed to register as an exchange.

Bitcoin layer-2 scaling networks—particularly “rollups”—have been the talk of the town in crypto developer circles as a new means to keep Bitcoin payments cheap, fast, and decentralized. But despite their vaunted promise, data and analysis from Galaxy Research suggest the vast majority of Bitcoin rollups will be unsustainable. “Rollups on Bitcoin that post data to the base layer will face a significant problem: the cost to post data,” wrote Galaxy analyst Gabe Parker in a report published Friday...

Recent declines in the price of Bitcoin could merely be the beginning of a more dramatic fall, a crypto research firm has predicted, attributing this potential downturn to a looming economic storm and a decoupling of the cryptocurrency from the broader stock market. The analysis, authored by Markus Thielen of 10x Research, noted that there were some recent positive signs when it came to the resilience of the crypto market, from institutional interest in spot Bitcoin ETFs to the price of BTC with...

On the campaign trail, former United States President Donald Trump says crypto holders should be concerned about the Orwellian implications of a digital dollar. But behind the scenes, the Federal Reserve is not moving forward on developing a central bank digital currency (CBDC), according to Fed Chair Jerome Powell. “In terms of a CBDC, there's really nothing new going on,” Powell said during Wednesday’s Federal Open Markets Committee meeting. “There's not much going on at all.” The creation of...

It didn't take long for things to go pear-shaped. Bitcoin was closing in on its all-time high again on Monday after briefly touching $70,000 per coin on America's biggest crypto exchange, Coinbase. But by Friday, it had dipped so, so low: Bitcoin has over the week dropped by more than 9% to $61,358—dipping as low as $60,704—according to CoinGecko. The reason was in part down to a weak jobs report that sparked fears that the U.S. economy could be sliding into a recession, causing a Wall Street se...

A bizarre aerial phenomenon captured on video over Curitiba, Brazil is the latest to capture the attention of “ufologists,” people who track sightings of unidentified flying objects as evidence of alien visitors. A pair of videos uploaded to YouTube shows a triangular object hovering in the sky above the southern Brazilian city from different angles. The first, shot by Zona Desconhecida, has garnered over 31,000 views since it was uploaded on July 21. As the camera zooms in, the object appears t...

Major U.S. stock indexes are suffering 2.5%-3.5% declines on Friday.

Likely also hitting prices was the movement of nearly $2 billion of BTC and ETH in wallets linked with Genesis Trading.

The move will take effect on Wednesday and will be open to clients with a net worth of at least $1.5 million.