It’s been quite a week in the world of cryptocurrency. From SWIFT’s decision to use Ethereum’s Layer-2 blockchain for stablecoin testing to Bitcoin’s price drop, here’s a quick recap of the top stories from the weekend.
SWIFT Taps Ethereum Layer-2 Chain Linea For Stablecoin Test
SWIFT has chosen Linea, the Ethereum (CRYPTO: ETH) Layer-2 blockchain developed by Consensys, to test blockchain messaging and stablecoin payments, according to a report on Friday.
Former Big Whale journalist Grégory Raymond cited sources familiar with the matter, saying the interbank messaging network, which connects more than 11,000 institutions worldwide, is experimenting with moving its payment instructions on-chain.
The trial includes major banks such as BNP Paribas and BNY, marking one of the most significant blockchain initiatives from traditional finance to date.
Read the full article here.
Mark Cuban’s Blast From The Past, Says Bitcoin Maxis ‘holding Their Breath’ On Etfs, Institutional Adoption
Billionaire investor and popular media personality Mark Cuban revisited his thoughts on the supposed hypocrisy within the Bitcoin (CRYPTO: BTC) community about regulation and decentralization.
In an X post on Wednesday, Cuban made a “blast from the past” reference to his opinion shared on Sept. 18, 2021, which read.
“Any one else notice how the BTC Maxis that scream and yell about possible regulation are the ones holding their breath for BTC ETFs approvals and want heavily regulated funds and pensions to buy as much BTC as they can?”
Read the full article here.
Bitcoin Falls Below $109,000, Ethereum, XRP, Dogecoin Can’t Catch A Break
Cryptocurrencies are down on Friday morning, with Bitcoin trading below $109,000 for the first time since the start of September.
See Also: Bitcoin Falls Below $109,000, Ethereum, XRP, Dogecoin Can’t Catch A Break
Trader Notes: Crypto trader Jelle highlighted that Bitcoin is nearing its 200-day moving average cluster, a zone that has consistently acted as a mid-term bottom throughout this cycle.
Read the full article here.
Peter Schiff Predicts ‘Brutal’ Bear Market For Bitcoin Treasury Companies, Labels Michael Saylor’s Business Strategy ‘harebrained’
Economist Peter Schiff warned Thursday of a severe bear market for Michael Saylor-led Strategy Inc. (NASDAQ: MSTR) and companies mimicking its Bitcoin treasury play.
In an X post, Schiff questioned the viability of companies with large Bitcoin reserves.
“While so many companies have been busy copying Saylor’s harebrained business strategy, few have noticed that MSTR is down 45% from its Nov. 2024 high,” Schiff said.
Read the full article here.
Bitcoin, Ethereum, XRP, Dogecoin Bleed As Hot Macro Data Dashes Rate Cut Hopes: Analyst Says ‘90% Of The Correction Is Over’
Leading cryptocurrencies plunged alongside stocks on Thursday, as strong economic data dampened expectations for a rate cut by the Federal Reserve.
Bitcoin dived below $109,000, worsening the downturn. The apex cryptocurrency’s trading volume jumped 55% in the last 24 hours, signaling high selling pressure.
Ethereum sank below $4,000 for the first time in six weeks, with volumes doubling in the 24-hour period.
Read the full article here.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.