David Sacks calls CFTC, SEC picks a crypto regulation ‘dream team’
US President Donald Trump’s AI and crypto czar, David Sacks, has signaled that the White House may have all the pieces in place for digital asset regulation following the confirmation of Michael Selig to chair the Commodity Futures Trading Commission.
In a Monday X post, David Sacks said the US was at a “critical juncture” for crypto regulation, and that Selig and Securities and Exchange Commission Chair Paul Atkins made up a “dream team to define clear regulatory guidelines.” Sacks’ comments were in response to Selig saying that the US Congress was preparing to complete work on a crypto market structure bill.
“We are at a unique moment as a wide range of novel technologies, products, and platforms are emerging, retail participation in the commodity markets is at an all-time high, and Congress is poised to send digital asset market structure legislation that will cement the US as the Crypto Capital of the World to the president’s desk,” said Selig on X.
Coinbase CEO says reopening GENIUS Act is ‘red line,’ slams bank lobbying
Coinbase CEO Brian Armstrong said any attempt to reopen the GENIUS Act would cross a “red line,” accusing banks of using political pressure to block competition from stablecoins and fintech platforms.
In a Sunday post on X, Armstrong said he was “impressed” banks could lobby Congress so openly without backlash, adding that Coinbase would continue pushing back on efforts to revise the law. “We won’t let anyone reopen GENIUS,” he wrote.
“My prediction is the banks will actually flip and be lobbying FOR the ability to pay interest and yield on stablecoins in a few years, once they realize how big the opportunity is for them. So it’s 100% wasted effort on their part (in addition to being unethical),” Armstrong added.
The GENIUS Act, passed after months of negotiations, bars stablecoin issuers from paying interest directly but allows platforms and third parties to offer rewards.
Bitcoin ‘never crossed’ $100K if adjusted for inflation, says Alex Thorn
Bitcoin came just shy of hitting a milestone six figures when inflation is factored in, despite the cryptocurrency hitting an all-time peak of above $126,000 in October, says Galaxy head of research Alex Thorn.
“If you adjust the price of Bitcoin for inflation using 2020 dollars, BTC never crossed $100,000,” Thorn said on Tuesday. “It actually topped at $99,848 in 2020 dollar terms, if you can believe it.”
Thorn said his adjusted price high for Bitcoin accounted for the Consumer Price Index (CPI) decline in purchasing power incrementally across every inflation print from 2020 to today.
CPI measures inflation via the prices of a basket of goods and services and is calculated by the US Bureau of Labor Statistics to track changes in spending habits.
Extended crypto ETF outflows shows institutions disengaging: Glassnode
Bitcoin and Ether exchange-traded funds have seen a prolonged streak of outflows, indicating that institutional investors have disengaged with crypto, said the analytics platform Glassnode.
Since early November, the 30-day simple moving average of net flows into US spot Bitcoin and Ether ETFs has turned negative, Glassnode said on Tuesday.
“This persistence suggests a phase of muted participation and partial disengagement from institutional allocators, reinforcing the broader liquidity contraction across the crypto market,” it added.
Flows into crypto ETFs usually lag the spot markets for the tokens, which have been trending down since mid-October.
The ETFs are also considered a bellwether for institutional sentiment, which has been a market driver for most of this year but seemingly turned bearish as the wider market has contracted.
Brazil’s live orchestra to turn Bitcoin price moves into music
An experimental orchestral project in Brazil aims to convert Bitcoin price data into live music, after receiving approval to raise funds through one of the country’s tax-incentive programs for cultural initiatives.
According to Brazil’s Federal Register, the authorization allows the project to seek up to 1.09 million reais ($197,000) from private companies and individual donors for an instrumental concert that uses financial data to generate music, drawing on concepts from art, mathematics, economics and physics.
The publication does not specify whether any blockchain or onchain infrastructure will be used in the performance. The performance will take place at the country’s federal capital, Brasília.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $87,458, Ether (ETH) at $2,922 and XRP at $1.84. The total market cap is at $2.96 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are MYX Finance (MYX) at 16.85%, ZCash…
cointelegraph.com