State Street and Stablecoin Standard to educate tradFi firms on crypto

US Senator Cynthia Lummis criticized the Federal Reserve's recent crypto decision as "just lip service," arguing it doesn't represent real progress. Meanwhile, SEC Chair Paul Atkins spoke at an agency roundtable, and Circle executive Dante Disparte denied rumors about the company seeking a US federal bank charter. The crypto industry's optimism over softened Fed guidance may be premature, according to Lummis.

Crypto analyst Mark Cullen has outlined two potential scenarios for Bitcoin's price: a drop to $100,000 or a surge to $122,000, nearing its all-time high. He suggests BTC is currently navigating an "inefficient area" between previous weekly price ranges, leaving its short-term direction uncertain.

Editor’s Note: Bitcoin's volatility keeps traders on edge, and this analysis highlights the high-stakes uncertainty in the crypto market. Whether it crashes or rallies, big moves could be coming—making this a key moment for investors to watch.

Brazil is preparing for a significant discussion about potentially adding Bitcoin to its national reserves. The country's Chamber of Deputies has scheduled its first public hearing on the topic for August 20, 2025, marking a pivotal moment in the debate over cryptocurrency's role in national finance.

Editor’s Note: This story matters because Brazil's decision could set a precedent for how countries integrate Bitcoin into their financial systems. If Brazil moves forward, it might encourage other nations to consider cryptocurrencies as part of their economic strategies, reshaping global finance. For now, it’s a wait-and-see moment with big implications.

China's Ministry of State Security has raised alarms about a foreign cryptocurrency company, reportedly Worldcoin, collecting iris scan data from users globally under the pretense of distributing tokens. The ministry warns this poses risks to both personal privacy and national security, highlighting concerns over how the biometric data is being stored and transmitted.

Editor’s Note: This story matters because it underscores growing tensions around data privacy and the potential misuse of biometric information by tech companies. China's warning signals broader global skepticism about how sensitive personal data, like iris scans, is handled—especially when tied to cryptocurrency projects. It’s a reminder of the fine line between innovation and surveillance.

A Bitcoin analyst is flagging a potential "danger zone" around $105,000 for BTC, warning that the current high levels of open interest in the market could signal volatility or a price correction ahead. While the short-term outlook isn't entirely bearish, the analyst urges caution.

Editor’s Note: For crypto traders, this is a heads-up—Bitcoin's recent momentum might hit a snag near $105K. High open interest often means the market is overleveraged, which could lead to sharp price swings. Whether you're bullish or not, it's worth paying attention to these warning signs.