Sept 25: Bitcoin Holds $84
from Daily Crypto News
Bitcoin is holding around $84,000 despite a difficult macro backdrop, with the 10-year Treasury yield around 5.2%, oil above $100 and markets pricing additional Fed tightening. Spot Bitcoin ETFs nevertheless recorded another roughly $190.7 million in net inflows, extending their positive streak to six days and approximately $2.84 billion. Meanwhile, ARK Invest is bringing its $1.3 billion venture fund onchain through Securitize, giving eligible investors Ethereum-based access to a fund containing stakes in companies including OpenAI, Anthropic, Stripe and Databricks. The Federal Reserve has also begun implementing the GENIUS Act with proposed rules governing stablecoin reserves, capital, custody and applications from banks that want to issue payment stablecoins. Matt argues that the increasingly important question is who captures the billions of dollars in potential yield generated by stablecoin reserves. Bitget also disclosed a $351.6 million security breach involving its wallet infrastructure, while its protection fund is large enough to cover the estimated losses. Across all of these stories, the larger theme continues to be traditional financial infrastructure moving onchain while Bitcoin holds surprisingly firm despite worsening macro conditions. Happy HODLing
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