Progress toward ending the US government shutdown remains elusive despite increased cross-party discussions, with Senate Majority Leader John Thune acknowledging more conversations are occurring but noting no concrete outcomes have emerged. The Senate’s adjournment without voting on the House-passed continuing resolution leaves the political impasse firmly in place, creating mounting challenges for federal operations and economic stability as the Federal Reserve navigates uncertainty during the funding lapse.
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0 in Finance and 0 in Crypto last weekTrump to Allow Crypto, Gold in $9T Retirement Market
President Donald Trump is reportedly preparing an executive order to open the $9 trillion retirement market to alternative investments like cryptocurrencies, gold, and private equity. The order, expected this week, will direct regulatory agencies to adjust rules for 401(k) plans, traditionally limited to stocks and bonds. This shift could allow millions of Americans to allocate retirement savings into digital assets and other alternatives. Trump’s administration has already reversed Biden-era policies discouraging crypto in retirement accounts, and recent House-passed crypto bills further signal his support. However, concerns remain about higher fees and reduced transparency, especially with private equity firms like Blackstone and BlackRock eyeing the market. The move marks a significant step in mainstreaming crypto but raises questions about investor risks.
about Trump to Allow Crypto, Gold in $9T Retirement MarketWarren Warns Weak Crypto Laws Risk Economy, Market Stability
Senator Elizabeth Warren has strongly criticized current crypto legislation, arguing that bills like the Clarity Act and Stablecoin bill lack sufficient safeguards and could enable criminal activity, terrorism financing, and economic instability. She warned that allowing NYSE-listed companies to transition to blockchain and evade SEC oversight could destabilize markets and strip investor protections. Warren also expressed concerns about political interference in financial oversight, particularly regarding Trump’s threats to replace Fed Chair Jerome Powell, which she argues could undermine global confidence in the U.S. financial system. The senator emphasized the urgent need for stricter crypto regulation and independent financial oversight to protect both the economy and investors.
about Warren Warns Weak Crypto Laws Risk Economy, Market StabilityHouse Reconsiders Crypto Package with GENIUS, CLARITY Acts
On July 16, the House passed a motion to reconsider a bundled crypto package comprising the GENIUS Act, CLARITY Act, and Anti-CBDC Surveillance Act in a narrow 215-211 vote. While the procedural approval doesn’t send the package directly to the President, it allows House and Senate leaders to advance the measures individually or as part of another legislative vehicle. The move follows a setback on July 15 when House members rejected a rule combining the crypto bills with the annual defense appropriation, despite former President Trump’s endorsement. Libertarian-leaning lawmakers, including Rep. Chip Roy, pushed for standalone debates, emphasizing opposition to a U.S. CBDC. Analysts, including Galaxy Digital’s Alex Thorn, anticipate further legislative steps to convert the package into enactable law.
about House Reconsiders Crypto Package with GENIUS, CLARITY ActsCantor Fitzgerald SPAC Nears $4B Bitcoin Deal with Blockstream
Cantor Fitzgerald’s SPAC affiliate, Cantor Equity Partners 1, is nearing a deal to acquire more than $3 billion in Bitcoin from Blockstream Capital, founded by Adam Back. The transaction, which could surpass $4 billion, involves issuing new shares to Back in exchange for up to 30,000 BTC. The SPAC also aims to raise an additional $800 million for further Bitcoin purchases, with the entity set to be renamed BSTR Holdings post-deal. This mirrors Cantor’s earlier $3.6 billion Bitcoin venture with SoftBank and Tether. If completed, the combined SPACs could amass nearly $10 billion in Bitcoin this year, solidifying Cantor’s role as a major institutional buyer. The deal aligns with a broader trend of corporations and SPACs using equity or convertible bonds to acquire Bitcoin, amid a favorable regulatory backdrop under President Trump’s administration. The transaction requires shareholder and SEC approval, with an announcement expected during ‘Crypto Week.’
about Cantor Fitzgerald SPAC Nears $4B Bitcoin Deal with BlockstreamBitcoin Rebounds as $4.5T Senate Bill Passes
Bitcoin briefly dipped to $106,344 before rebounding above $107,800 after the Senate passed a $4.5 trillion bill with Vice President J.D. Vance casting the tie-breaking vote. The package, featuring tax reductions and spending cuts, lacked crypto-specific language despite last-minute attempts to include digital asset tax benefits. Altcoins like Solana dropped up to 6%, while crypto-linked stocks such as MicroStrategy and Coinbase rallied. Traders now await House approval and upcoming Fed signals that could impact crypto markets further.
about Bitcoin Rebounds as $4.5T Senate Bill PassesUS Stocks Rise Cautiously as Bitcoin Hits Record High
The US stock market saw a tentative rise at the open, with Dow, S&P 500, and Nasdaq futures edging up as investors monitored Trump’s proposed tax bill, which could significantly increase the national deficit. Bitcoin reached a new all-time high above $111,000, fueled by institutional interest. Meanwhile, Moody’s credit rating downgrade and upcoming economic data, including PMI reports and jobless claims, contributed to market volatility. Political uncertainty and crypto momentum are shaping a turbulent trading session.
about US Stocks Rise Cautiously as Bitcoin Hits Record HighBitcoin Hits $111K ATH as Meme Coins Surge
Bitcoin surged to a new all-time high of $111,544, fueling a broader crypto rally. Meme coins outperformed, with Moonpig (MOONPIG) spiking 130% and Trump token (TRUMP) jumping 22%. One trader turned a $4,350 investment into over $180,000 on MOONPIG. Other notable gainers included Dogecoin (DOGE) and AI-related tokens like AI Companions (AIC). The meme coin sector’s market cap rose to $80.2 billion, reflecting growing speculative interest. Meanwhile, Solana-based Nobody Sausage (NOBODY) surged 1,012% in two weeks, driven by social media hype.
about Bitcoin Hits $111K ATH as Meme Coins Surge