Business – Page 6 – PK Press Club

Bitcoin Tops $72,000 as ETFs Pull $155M, Extending Entry Streak by Two Weeks

Bitcoin remained offered Thursday amid signs of continued demand for spot exchange-traded funds (ETFs). The leading cryptocurrency traded near $72,500 on Thursday, according to CoinDesk market data. U.S.-listed cash ETFs generated another $155 million in net inflows on Wednesday, extending a recent streak of institutional buying that helped lift prices after weeks of sluggish activity. […]

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SKY jumps nearly 10% after governance vote slows new token creation while buybacks tighten supply

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SKY, the native token of DeFi platform Sky (formerly Maker), soared nearly 10% after the protocol executed a governance proposal that slowed the speed with which new tokens are created through staking rewards, expanded its lending system around the stablecoin USDS, and maintained a large buyback program that removes tokens from the market. The governance

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Kraken becomes first crypto company to secure access to Fed main account

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Kraken has obtained a Federal Reserve “master account,” giving its banking arm direct access to the Fed’s major payment systems and making it the first crypto company to operate on the same rails as traditional financial institutions. The company said its unit, Kraken Financial, had received approval for a “master account” from the Federal Reserve,

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Morgan Stanley presents the custody structure of the Bitcoin ETF project

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Morgan Stanley (MS) has filed a prospectus with the Securities and Exchange Commission (SEC) describing the structure of the Morgan Stanley Bitcoin Trust project, revealing that the fund plans to use Coinbase Custody (COIN) and Bank of New York Mellon (BNY) to protect its bitcoin holdings, according to a Form S-1 submission. The two institutions

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Crypto firm Tether (USDT) invests $50 million in sleep tech startup Eight Sleep

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Tether, the crypto company behind the most popular USDT stablecoin USDT$1.0001has invested $50 million in sleep technology startup Eight Sleep at a valuation of $1.5 billion, according to a Wednesday press release and data from Crunchbase. With this funding, Eight Sleep plans to develop new AI health capabilities using Tether’s QVAC architecture, a computing framework

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Former Binance communications head joins stablecoin specialist KAST

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Stablecoin company KAST has hired Brad Jaffe as director of communications, the company announced Wednesday. Jaffe previously led global communications at cryptocurrency exchange Binance for more than three years. Jaffe managed strategic communications at Binance during a period at the exchange that was marked by tumultuous regulatory challenges amid rapid growth. At KAST, he will

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Sui’s native USDsui stablecoin goes live with the promise of Treasury yield returning to the ecosystem

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The Sui Dollar (USDsui), the stablecoin of the Sui blockchain, went live on Wednesday with the promise that revenue from assets supporting the token can be injected back into the ecosystem from which it originated. The yield of USDsui-backed bonds and liquid assets can be used to redeem and withdraw ISU$0.9503 tokens in circulation or

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The cryptocurrency crowd is so convinced that this rally is a fake that it could trigger a short squeeze.

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Bitcoin surpassed $73,000 this week, returning to a key psychological level that had capped the market for weeks. Yet this breakout sparked an unusual reaction in crypto markets: widespread skepticism. Many traders warn that the move could become a classic bull trap – a brief breakout that attracts late buyers before reversing to the downside.

The cryptocurrency crowd is so convinced that this rally is a fake that it could trigger a short squeeze. Read More »

Ray Dalio Thinks Bitcoin Is Not Gold, and That’s Exactly Why Bulls Are Buying

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Crypto experts push back after billionaire hedge fund manager Ray Dalio renews skepticism of bitcoin BTC$72,880.21arguing that the largest and oldest cryptocurrency lacks the qualities that make gold a reliable store of value. Speaking on the All-In podcast, the Bridgewater Associates founder said bitcoin should not be compared to gold because it lacks central bank

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World Liberty co-founder Eric Trump calls banks ‘un-American’ over stablecoin fight

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Eric Trump, one of US President Donald Trump’s sons and co-founder of crypto firm World Liberty Financial, lashed out at the banking industry on Tuesday for its opposition to allowing a stable coin yield in crypto market structure legislation. “Big banks (think JPMorgan Chase, Bank of America, Wells Fargo, etc.) are putting additional pressure to

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