Crypto could benefit if Fed steps in to backstop US stock market: Analysts

The size and scope of the US stock market “gives policymakers a strong incentive to backstop major drawdowns,” said Bitget Wallet COO, Alvin Kan.

The size and scope of the US stock market “gives policymakers a strong incentive to backstop major drawdowns,” said Bitget Wallet COO, Alvin Kan.

Industry data shows trading activity and market value accelerating as crypto companies and traditional financial institutions expand tokenized equity initiatives.

The cost of eliminating margin calls and forced liquidations is an interest rate as high as 14.2% and an obligation to pay on time, Strike CEO Jack Mallers said.

The financial regulator’s agenda included proposed rule changes related to crypto broker-dealers, digital assets on national securities exchanges and potential safe harbors.

The asset manager is hiring a head of digital assets to lead its strategy for tokenization, stablecoins, blockchain infrastructure and client-facing products.

The proposed bonds to be backed by cryptocurrency still need approval from New Hampshire Governor Kelly Ayotte and the state’s five-member executive council.

The report follows comments from White House crypto adviser Patrick Witt in May, who said the administration was examining the legal implications of creating a Bitcoin reserve.

The reported transaction comes as Tether maintains it has no plans to go public, even as other crypto companies pursue or delay IPOs.

The developers behind the memecoin project said they had informed law enforcement after the attack and were working to “recover funds and identify those responsible.”

South Africa’s tax authority proposed draft guidance clarifying how crypto assets are taxed under existing income and capital gains tax rules, seeking public input until Aug. 31.