Trump, crypto and GENIUS
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The crypto sector's market value hit $4 trillion on Friday, according to CoinGecko, marking a milestone that reflects its shift from a nascent asset class to a central part of the global investment landscape.
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President Donald Trump is signing the GENIUS Act, which will regulate stablecoin cryptocurrencies, whose values are pegged to the U.S. dollar, at around 2:30 p.m. Friday. TRUMP STRIKES DEAL WITH GOP HOLDOUTS ON GENIUS ACT DURING ‘CRYPTO WEEK’ Trump needed to convince about a dozen Republicans to vote for the bill after they stalled it
Anita Ramaswamy, columnist at The Information, joins Marketplace’s Meghan McCarty Carino for “Tech Bytes: Week in Review.”
Over 1 in 5 top Trump appointees reported investments in crypto and other digital assets, far more than previous administrations, a Post analysis found.
One of the bills, known as the Genius Act, would set up oversight of stablecoins, a popular crypto asset typically pegged to a government currency such as the U.S. dollar. That peg keeps their price steady, making them attractive to traders looking for a store of value while they buy and sell more volatile cryptocurrencies.
A day after President Donald Trump claimed a deal was reached with GOP holdouts, the House was yet again locked in a standstill over moving forward on a trio of crypto bills -- breaking a record for the longest House vote in recent history.