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Bitcoin dips again amid broad crypto market pullback: The price of bitcoin dipped below $84,000 on Thursday morning, pushing the top cryptocurrency down more than 4% year-to-date. The move came after Microsoft’s soft earnings report sparked a broader tech pullback, with the NASDAQ leading losses on the day. The crypto selloff forced roughly $650 million in liquidations among leveraged long crypto positions.
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This week, Tether launched USAT, a USD-backed token issued through Anchorage Digital Bank: The stablecoin was built to comply with the GENIUS Act under OCC supervision, with Cantor Fitzgerald serving as reserve custodian and primary dealer. At launch, USAT will be available on a number of trading and payments platforms to enable immediate onramps for institutional and retail.
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In a widely expected move, Federal Reserve chair Jerome Powell on Wednesday announced the committee would pause rate cuts this month: The decision comes after the central bank committee lowered rates three separate times since September amid concerns over a softening labor market.
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Ripple announced the launch of Ripple Treasury, a corporate treasury platform that embeds GTreasury into Ripple’s blockchain stack: The product promises no longer than five-second cross-border settlement using RLUSD and aims to centralize liquidity management.
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VanEck debuted VAVX, the first US spot Avalanche ETF, on Nasdaq: The fund offers spot AVAX exposure plus staking rewards and aims to broaden institutional access to the layer-1 blockchain.
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