The CoinDesk 20, that fickle mistress, now stands at 4391.98, a rise of 2.8% (+118.19) since the hour of 4 p.m. ET on Wednesday. A modest ascent, you say? Nay, in this realm of volatility, it is a triumph, a fleeting moment of grace before the next plunge into the abyss. And lo, all 20 assets are trading higher-a rare unity in this fractured world of zeros and ones.
Our story unfolds with the U.S. SEC tossing out the old rulebook and saying, “Spot crypto ETFs? Sure, why not,” just in time for the Fed to chop interest rates by a microscopic 0.25 basis points (because apparently, every drop counts) and for XRP itself to make its glittery Wall Street debut. The combination? More momentum than a caffeinated troll on roller skates.
On a dreary Wednesday, not unlike any other doomed day in the annals of regulation, ASIC proclaimed through the mystic incantation dubbed Corporations (Stablecoin Distribution Exemption) Instrument 2025/631, that certain intermediaries-those who dance in the shadows of licensed AFS holders-may now dispense stablecoins without the heavy chains of their own licenses. Imagine the relief: a bureaucratic leash loosened, if only just enough to trip on.
But hold your horses, there’s hope for BTC. The Fed just did its little rate cut number, and suddenly everyone’s acting like it’s the key to a BTC resurgence. Maybe it is. Maybe it isn’t. Anyway, Bitcoin is inching closer to that $124K high-again. Keep your fingers crossed, folks. 🤞
This explosive price movement isn’t just some lucky fluke. No, no. It’s the result of something a lot more exciting: a combination of market momentum and fervent buying interest. This spike above the old resistance levels is like a ‘who’s who’ of crypto fans celebrating their sweet victory. But wait, will the coin keep climbing like a caffeinated squirrel, or are we due for a quick nap and a pullback? 👀
The US jobs market is, let’s say, “not doing so hot.” In response, the Federal Reserve decided to cut rates by a modest 25 basis points, with rumors swirling that another 3 cuts are in store before year’s end. Oh joy, more financial loosening! This could mean a happy ending for Bitcoin and its crypto friends-so get your popcorn ready. 🍿
Because it’s like the SEC has finally decided to quit playing hard to get after a decade of awkwardly reviewing every single Bitcoin ETF like it’s the last biscuit in the tin. 2013 called-it wants its endless waiting game back. Now, things could unfold much faster.
DBS Digital Exchange is now listing Franklin Templeton’s sgBENJI token alongside RLUSD, which means accredited investors can hop between a stablecoin and a money market fund quicker than you can say “blockchain.” It’s like a financial teleportation device, but without the risk of leaving your limbs behind. Liquidity? Check. Returns? Check. Traditional banking channels? Nah, we’re too cool for that now. 🚀
This approval is like a VIP pass to the crypto party for traditional investors. It signals a monumental shift in regulatory thinking, allowing institutional capital to flood into the crypto market, like an overzealous guest crashing the scene.
In the latest twist of this financial melodrama, Bullish (BLSH), the proud owner of CoinDesk, reported a quite impressive earnings per share (EPS) of $0.93 for the second quarter, utterly obliterating the average analyst estimate of a meek $0.03, according to FactSet’s ever-diligent data crunchers. Don’t fret, the firm also reported adjusted revenue of $57 million-though slightly shy of the $60.7 million estimate. Still, who’s counting when you’re *crushing* it?
