Bitcoin approached the $81,000 level as investors awaited the Federal Reserve's upcoming policy decision. Major cryptocurrencies broadly outperformed bitcoin during the session. Zcash, in particular, rose about 8%. The gains came alongside a continued rally in technology stocks.
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Crypto exchange Coinbase has disclosed that an incident at analytics provider Amplitude exposed certain customer contact information. The company stressed that its own internal systems were not breached in the episode. Coinbase maintained that customer funds remain secure despite the third-party exposure. The incident underscores the risks that vendor relationships can pose to customer data at financial platforms.
U.S. Treasury Secretary Scott Bessent spoke at Ripple's conference about the role of digital assets in America's financial standing. He suggested that actions by the SEC and CFTC could partly compensate for the stalled Clarity Act. Bessent also said regulators should work to curb the debanking of crypto firms. The remarks frame crypto as a potential tool for preserving the dollar's global position.
Robinhood reported that its crypto revenue dropped 55% compared with the previous year, reflecting a 38% decline in crypto trading volume. Despite the drop, the figure exceeded analysts' forecasts. The company said its broader blockchain-related business showed growing momentum. The results highlight how weaker trading activity hit the brokerage's crypto earnings even as other segments gained ground.
The U.S. Commodity Futures Trading Commission has filed a lawsuit against the state of Utah. The federal agency aims to preserve Kalshi's ability to offer its prediction market products to residents there. The CFTC has taken more than a dozen legal actions to defend what its leadership considers its exclusive authority over prediction markets. The dispute centers on whether federal regulators or individual states hold the power to govern these markets.
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