☕️ Treasury Sec Backs Crypto for Dollar Dominance Treasury Secretary Scott Bessent positioned digital assets as a key defense for U.S. dollar dominance as stablecoin volume shifts and institutional custody expansions reshape the market.
1. Treasury Secretary Framed Crypto as Vital to Dollar Dominance — Scott Bessent said U.S. digital asset supremacy is crucial for preserving the dollar's reserve status, signaling new agency-level rules following the Clarity Act's legislative failure [1]. 2. USDC Captured 56 Percent of Euro Stablecoin Trading Volume — Circle's token overtook Tether in euro-denominated trading as regional exchange restrictions squeezed non-compliant stablecoins, according to Kaiko data [2]. 3. Galaxy Digital Posted $323 Million Q3 Net Income — The company reversed a prior-quarter loss while expanding its high-performance compute operations to deliver 133 megawatts to CoreWeave [3]. 4. BNY and Ripple Expanded Custody Support for XRP and RLUSD — The institutional bank integrated the assets into its digital custody platform and is exploring onchain supply chain financing with C2FO [9]. 5. Polymarket Referred Midterm Election Probes to CFTC — The prediction market's surveillance unit referred at least two investigations to federal regulators after probing dozens of suspicious bets [4].
📊 Bitcoin climbed 1.1 percent to $80,678, while Ether gained 1.5 percent to $2,341 alongside a total cryptocurrency market capitalization of $2.66 trillion.
