- Cryptocurrency markets rebounded after President Trump signaled a retreat on proposed EU tariffs, pushing major tokens higher and triggering over $1 billion in liquidations.
- Bitcoin rose about 2% to $89,900 and Ethereum climbed roughly 2% to $2,995; SOL and XRP also gained.
- BitGo filed for an IPO at $18 per share, valuing the company near $2 billion, while Solana’s SKR token jumped about 250% in FDV terms.
- Regulatory moves advanced: the Senate Agriculture Committee will mark up its version of the Clarity Act next week, and Hong Kong moved to license stablecoins under a strict framework.
- Other developments included Vitalik Buterin proposing native DVT staking for Ethereum, a $7 million hack that halted Saga’s EVM chain, and Steak ’n Shake launching a Bitcoin bonus program for hourly staff.
Crypto markets rebounded after President Trump signaled a retreat from proposed EU tariffs, sending major tokens higher and prompting more than $1 billion in liquidations as investors repositioned. At the time of the move, Bitcoin was near $89,900 (+2%), Ethereum near $2,995 (+2%), SOL around $130 (+2%), and XRP reached $1.94 (+3%); tokens CC, SKY and SAND led short-term gainers.
Protocol and market news accompanied the rally. Vitalik Buterin proposed implementing native DVT staking to enhance Ethereum security and decentralization. Separately, Solana’s SKR token saw an approximate 250% rise in fully diluted valuation.
Corporate and financing updates included BitGo announcing an IPO at $18 per share, valuing the company at about $2 billion. The Senate Agriculture Committee confirmed its version of the Clarity Act will move to markup next week despite limited bipartisan support, while President Trump said he hopes to sign a crypto market structure bill soon amid ongoing legislative disagreements.
Financial institutions and regulators took additional steps. Mortgage lender Newrez explored counting Bitcoin and Ethereum toward mortgage qualification using discounted valuations to reflect volatility. Hong Kong regulators advanced a stablecoin licensing framework that mandates strict compliance, reserve, and operational rules. Russian courts ruled that cryptocurrencies qualify as property under law, creating precedent for civil and criminal cases.
Security and corporate benefits rounded out the headlines. Saga halted operations after a $7 million hack that moved stolen funds to Ethereum. Meanwhile, Steak ’n Shake rolled out a program allowing hourly employees to earn part of their pay in Bitcoin.
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