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BitLicense Win, Digital Dollar Rejected & Bitcoin ETF Bleeding Deepens
Audio is available on Spreaker — see link below.
Mastercard secures New York's coveted BitLicense as the US Treasury formally rules out a central bank digital currency in favour of regulated stablecoins. Bitcoin ETFs bleed for seven straight sessions and Ethereum cracks $2,000 — here's what it means for institutional crypto infrastructure.
Audio is available on Spreaker — see link below.
Mastercard just got the keys to New York's crypto market. The payments giant secured a BitLicense from New York's Department of Financial Services, clearing the way for scaled cryptocurrency and stablecoin infrastructure operations in one of the most tightly regulated financial jurisdictions in the world.
While Mastercard was moving toward crypto, the US Treasury was moving away from a different kind of digital currency entirely. Treasury Secretary Bessent formally ruled out creating a central bank digital currency, citing privacy concerns and the risk of government transaction tracking.
The crypto market itself is telling a different story right now, and it's not a comfortable one. Bitcoin ETFs in the US recorded outflows across seven consecutive trading sessions.
Ethereum's situation is arguably more structurally significant. ETH dropped below the two thousand dollar psychological level, continuing a decline that's been building since early May and erasing most of April's gains.
Not everything in crypto is under pressure. NEAR Protocol, a layer-one blockchain, rallied a hundred percent over the past month following privacy and AI-focused network updates.
The through-line across today's developments is a market in transition on two fronts simultaneously. Regulated institutional infrastructure is being built, slowly and deliberately, while speculative capital is rotating and in some cases exiting.
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