Michael Saylor reacts to Fed’s sudden crypto u-turn
Cryptocurrency-related banking activities will now be regulated under normal rules.
- What happened. The Federal Reserve has ended its crypto bank oversight program.
Michael Saylor, executive chairman at business intelligence firm Strategy, claims that the road is now “clear” for Bitcoin and the banking sector after the Federal Reserve ditched a crypto bank oversight program.
The controversial program, which was launched back in August 2023, subjected those banks that want to experiment with cryptocurrency-related services or blockchain projects to heightened scrutiny.
- Why it matters. The Fed now says it better understands crypto risks and trusts banks’ ability
It was meant to control and contain possible risks associated with the mercurial sector with the help of focused oversight. Now, however, the Fed is shelving the program since it understands risks better and knows how banking institutions are capable of managing them. Hence, existing oversight tools are now deemed to be sufficient for monitoring crypto and fintech activities.
Tether brings on former White House crypto chief as Strategy Advisor
Bo Hines is now part of Tether’s top executive team, right after leaving White House.
- What happened. Bo Hines, formerly head of crypto policy in Donald Trump’s administration, has joined Tether.
Bo Hines, who has recently left the White House and the top crypto position in Donald Trump’s administration, has joined the largest stablecoin issuer, Tether, as strategy advisor for digital assets and U.S. expansion. Tether’s chief executive officer, Paolo Ardoino, confirmed this in a recent X post.
- Why it matters. Hines’ experience could help Tether navigate U.S. regulation.
Tether CEO Paolo Ardoino welcomed Bo Hines to the Tether team, stating that the latter had “demonstrated incredible leadership within the U.S. Administration, where he was instrumental in advancing initiatives to foster innovation in digital assets, develop clear guardrails for stablecoin issuers, and build collaborative relationships between government and the blockchain industry.”
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Shiba Inu’s 10 trillion in 24 hours comeback
SHIB comeback potential is still there as on-chain volumes stay in adequate range.
- Whale activity surges. On-chain transfer volume spiked to 10 trillion SHIB in one day.
In a single day, Shiba Inu recorded an incredible on-chain transfer volume of over 10 trillion tokens, showing that network activity has picked up speed following weeks of inactivity. Alongside this increase in transfer volume, Etherscan data indicates that the number of transactions remained stable at about 5,400, indicating that whale-sized movements rather than retail flows were the main driver.
- Price action. SHIB trades near $0.00001300, but momentum is capped.
Shiba Inu stays enclosed SHIB is currently trading close to the $0.00001300 level as it attempts to level off following its recent erratic performance. As it presses against several technical resistances that have limited upside momentum, the asset is trapped inside a convergent triangle structure.
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Final Bitcoin block date revealed
1,091,185 BTC now left to be mined.
- Total supply cap. 21 million Bitcoin. Over 94% of BTC has now been issued.
According to CoinMarketCap data, a total of 19,908,015 BTC have been issued through mining. Bitcoin’s total supply is fixed at 21 million BTC; this figure suggests that over 94% of this has now been issued, leaving 1,091,185 BTC to be mined.
With just over one million BTC left to be mined, market enthusiasts are speculating when the last BTC might be mined. In a recent tweet, Bitcoin historian Pete Rizzo shared an estimate of when this might occur. Rizzo predicts that the final Bitcoin might be mined about 79 years from now, implying that the last full Bitcoin will be issued on Aug. 17 — in the year 2104
- Jan. 8, 2035. 99.9% of the total Bitcoin supply will issued.
Bitcoin is expected to reach 95% of the total Bitcoin supply issued on Nov. 18, 2025. It is predicted to reach 99% of its supply on Jan. 8, 2035, and 99.9% of the supply is expected to be reached on Nov. 6, 2047. The last full Bitcoin is expected to be issued on Aug. 17, 2104, with all coins expected to be issued by July 21, 2138.
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XRP rockets 32,474% in liquidation imbalance
XRP abnormal liquidation imbalance stuns popular cryptocurrency and bull traders.
- Extreme liquidation imbalance. XRP derivatives market hit by extreme long-side liquidations
The XRP derivatives market just delivered a rare number that is difficult to ignore. In just one hour, liquidation trackers of CoinGlass recorded an imbalance of 32,474% between long and short contracts, with nearly all of the losses incurred by bullish positions.
According to the data, about $1.26 million worth of long exposure was liquidated during that time, while shorts accounted for less than $3,880. This does not mean record-breaking size, but these figures do highlight how skewed the positioning had become.
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