The past week has been a rollercoaster ride for the crypto industry, with COIN making headlines, the SEC appointing a crypto insider, and the Coinbase CEO predicting the end of the fiat era. Here’s a recap of the top stories:
Coinbase made history in May by becoming the first cryptocurrency exchange to be included in the S&P 500 index. This significant milestone signals a growing acceptance of the crypto industry in mainstream markets and positions Coinbase among America’s largest and most influential companies.
The U.S. Securities and Exchange Commission (SEC) announced Jamie Selway as its new Director of the Division of Trading and Markets. Selway, a recognized figure in market structure and digital assets, will assume his new position on June 17, 2025. This move signals a significant shift towards engaging crypto-savvy leadership at the regulatory helm.
Coinbase CEO Brian Armstrong predicted that Bitcoin may emerge as the world’s new reserve currency. He cited mounting global deficits and rising economic uncertainty as catalysts for a shift away from fiat systems.
Senators Elizabeth Warren and Richard Blumenthal raised concerns over Meta Platforms Inc. META CEO Mark Zuckerberg’s potential stablecoin revival plans, citing them as a “national security threat”.
Coinbase CEO Brian Armstrong unveiled a cryptocurrency credit card that offers cashback rewards in Bitcoin. The card, powered by AXP, offers users up to 4% in Bitcoin rewards for every purchase.
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This story was generated using Benzinga Neuro and edited by Rounak Jain
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