The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Thursday! Don't forget to join Strategy Executive Chairman Michael Saylor and Bitwise Head of Alpha Strategies Jeff Park for a one-hour webinar this afternoon on "Why the Bitcoin Standard Matters" — hosted by The Block CEO Larry Cermak at 2 p.m. ET!
In today's newsletter, Federal Reserve Chair Jerome Powell signals a potential loosening of crypto-related rules for banks, Base faces scrutiny over its "contentcoin" endorsement, JPMorgan says bitcoin has failed to benefit from safe-haven flows backing gold and more.
Meanwhile, in a Thursday features hat trick, energy experts slam a "deeply flawed" Harvard-led study on the environmental impact of the U.S. Bitcoin mining boom, RT Watson and Sarah Wynn take a look at the stablecoin turf wars as Bank of America, Tether and Circle battle to shape U.S. rules and a sweeping DOJ memo signals a turning point — and possible relief — for embattled crypto firms.
Let's get started.
U.S. Federal Reserve Chair Jerome Powell signaled at The Economic Club of Chicago on Wednesday that U.S. banking regulators may ease crypto-related restrictions.
Coinbase-backed Ethereum Layer 2 blockchain project Base triggered a community backlash after publicly promoting a "Base is for everyone" token that briefly crashed 95% within hours of its launch before later recovering.
JPMorgan analysts said gold, which recently hit all-time highs above $3,350 per ounce, is attracting strong safe-haven flows, with investors piling into both ETFs and futures amid the current macro uncertainty.
U.S. spot Bitcoin ETFs saw a further $169.9 million in net outflows on Wednesday, snapping a brief two-day inflow streak totaling $78 million.
Eliza Labs has rolled out auto.fun, a no-code AI agent launchpad that lets anyone build and deploy autonomous agents capable of executing tasks across social media platforms, DeFi apps and other web3 services — without requiring technical skills.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
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