Coindesk

The U.S. Federal Reserve's newest vice chair who supervises Wall Street banking, Michelle Bowman, made a crypto speech on Tuesday that could have been uttered by one of the industry's own policy wonks, advocating that banks get behind the digital assets surge and that the Fed give the sector rules that won't get in crypto's way.At the Wyoming Blockchain Symposium, Bowman warned banks that don't embrace the shift toward crypto "will play a diminished role in the financial system more broadly," and she further underlined what's already been an obvious change in crypto sentiment from U.S. banking regulators."Your industry has already experienced significant frictions with bank regulators applying unclear standards, conflicting guidance, and inconsistent regulatory interpretations," she said. "We need...

Bitcoin (BTC) aside, the best investment in crypto is its “picks and shovels,” according to the CEO of $1.6 trillion asset manager Franklin Templeton.Jenny Johnson, the third-generation leader of the manager, spoke at the SALT conference in Jackson Hole, Wyoming on Tuesday, doubling down on what in her opinion will be the biggest use cases of blockchain technology and where investors should put their money.In her view, bitcoin functions as a “fear currency” — a financial refuge for people in countries where governments can block access to funds or where national currencies lose value over time. But despite its appeal in those scenarios, she sees it as a distraction.Bitcoin, she argues, is the “greatest distraction for one of the greatest...

SkyBridge Capital, Anthony Scaramucci's investment management firm, plans to tokenize $300 million worth of its hedge funds on the Avalanche (AVAX) network.The firm is bringing its Digital Macro Master Fund and Legion Strategies on-chain in partnership with tokenization provider Tokeny and its parent, Apex Group, which manages more than $3.5 trillion in assets, according to the press release shared with CoinDesk on Tuesday. Apex acquired Tokeny earlier this year.The initiative uses the ERC-3643 token standard with operational support from Apex’s Digital 3.0 platform, which handles issuance, administration, and distribution.SkyBridge's decision underlines the growing appeal of using blockchain rails to transfer and record ownership of traditional financial instruments like bonds, funds and stocks, a process often dubbed tokenization of real-world assets...

JACKSON HOLE, Wyo. — U.S. Senator Tim Scott, the chairman of the Senate Banking Committee, anticipates up to 18 Democrats may vote in favor of the Senate's answer to the Digital Asset Market Clarity Act.“I believe that we’ll have between 12 and 18 Democrats at least open to voting for market structure,” Scott said on stage at the SALT conference in Jackson Hole, Wyoming on Tuesday.“The forces against it, let me just say clearly, like Sen. Elizabeth Warren, standing in the way of Democrats wanting to participate, it is a real force to overcome,” he said.While Congress passed — and U.S. President Donald Trump signed — the GENIUS Act, which covers stablecoins, it's the market structure legislation that the industry...

HBAR saw sharp selling pressure during the latest session, slipping from $0.241 to $0.238 between 13:25 and 14:24 on August 19. An early spike to $0.243 was quickly reversed as heavy selling drove the token through key support levels. A 5.38 million volume surge at 13:32 confirmed the breakdown, before trading activity dried up in the final minutes and HBAR closed near session lows.Across the 24-hour period from August 18 at 15:00 to August 19 at 14:00, the token declined 2.46%, falling from $0.244 to $0.238. Trading was volatile, with HBAR ranging between $0.249 and $0.237 on volume exceeding 87 million.Broader market conditions added pressure, as the U.S. Producer Price Index rose to 3.3%, above Federal Reserve forecasts, fueling inflation...