Bitcoin Price:

Punching towards new ATH! Currently at $65,551

BNY Mellon Secures Bitcoin Custody Approval Amid SEC Drama:

BNY Mellon announced they secured approval to custody Bitcoin, marking a significant step for federal banks regarding the digital asset space. Already a player in Bitcoin ETFs, the banking giant can now offer custody for both Bitcoin and Ether ETFs, pushing the boundaries of traditional finance.

Interestingly, SEC Commissioner Gary Gensler’s public calender, shows a phone call with BNY Mellon CEO Robin Vince in March, sparking speculation about potential political motivations behind this bold move.

This decision is even more shocking as other banks, like Custodia in Wyoming, have strictly followed Federal Reserve guidelines, only to be denied similar approvals.

Meanwhile, billionaire Mark Cuban weighed in on Gensler’s leadership at the SEC, posting on X that Gensler’s departure "is worth a point in GDP growth,” adding fuel to the ongoing debate.

Crypto Takes Center Stage in 2024 Election:

With the 2024 presidential election racing toward voting day, cryptocurrency is emerging as a pivotal battleground issue. Both Donald Trump and Kamala Harris are forced to confront its growing influence.

Stand With Crypto, a nonprofit dedicated to advancing meaningful legislation surrounding bitcoin and crypto, provides engaging and user-friendly education with a groundbreaking ranking system. By spotlighting politicians across the spectrum, voters have a transparent look at where their political candidates stand on bitcoin and crypto.

As the race heats up, the candidates have both commented on emerging technology. Harris cryptically talked about the nation's leadership in AI, quantum computing, and blockchain, while Trump ventures into the decentralized finance world with his bold new project, “World Liberty Financial.” Despite his overwhelming positive comments about bitcoin, this latest move has some observers scratching their head.

Swan Bitcoin Sues Ex-Staff for Data Theft:

Swan Bitcoin, a bitcoin-only custody platform and exchange, alleges former employees stole proprietary information and colluded with Tether, an investor in Swan’s mining operations. The company says they have irrefutable proof of a high-stakes breach, with stolen proprietary code, confidential documents, and trade secrets. Swan accuses the defendants of executing an in-depth plan to cripple its competitive edge and funnel stolen data to a rival Bitcoin enterprise.

This is a developing story.

River Exchange Launches Bitcoin Proof of Reserves:

River CEO Alex Leishman announced the exchange as the first Bitcoin-only platform to offer complete transparency of its reserves, setting a new industry standard.

This move addresses the risk of fraud that has plagued the bitcoin ecosystem, notably with cases like FTX and Mt. Gox. Proof of reserves allows users to verify that River holds enough bitcoin to fully back all customer balances. The end goal is to enhance trust and transparency, while reducing risk of insolvency and fraudulent practices in centralized bitcoin exchanges.