Traditional safe-havens retreated in parallel. Spot gold and silver, which had reached fresh record highs earlier this week on tariff concerns, gave back part of those gains once trade tensions eased. The pattern underscored the continued tendency of cryptocurrencies to behave as risk-on assets in the current macro environment.
Corporate Developments
Institutional adoption remained in focus. Custody provider Bitgo announced the pricing of its initial public offering at $18 per share, implying a valuation of approximately $2.1 billion. The listing, scheduled to begin trading later today on the Nasdaq, marks one of the highest-profile public market debuts by a crypto infrastructure company to date.
Separately, mortgage originator NewRez said it is evaluating a program that would allow applicants to pledge Bitcoin and Ethereum as part of their asset base when seeking home loans. Under the proposal, the lender would apply discounted valuations to account for price volatility, ensuring compliance with existing underwriting standards.
Retail adoption also progressed. Fast-food chain Steak ’n Shake launched a voluntary bonus scheme that lets hourly employees receive a portion of their compensation in Bitcoin. The initiative adds to a growing list of U.S. companies experimenting with digital-currency payroll options.
Regulatory Landscape
On Capitol Hill, the Senate Committee on Agriculture, Nutrition and Forestry confirmed that its version of the Clarity Act will proceed to markup next week despite the absence of bipartisan consensus. The bill seeks to establish a framework for spot market oversight of non-security digital assets, a responsibility the panel says should fall under the Commodity Futures Trading Commission.
President Trump, speaking separately at a press briefing, expressed hope of signing a comprehensive crypto market-structure bill “soon,” although lawmakers continue to debate jurisdictional boundaries between the CFTC and the Securities and Exchange Commission.
International authorities moved forward with their own rules. Hong Kong’s Financial Services and the Treasury Bureau outlined a licensing regime for fiat-backed stablecoins that imposes stringent reserve, disclosure and operational requirements. Meanwhile, a Russian district court ruled that cryptocurrencies constitute property under domestic law, setting a precedent for future civil and criminal proceedings involving digital assets.
Protocol and Security Updates
Ethereum co-founder Vitalik Buterin published a proposal that would integrate Distributed Validator Technology (DVT) directly into the network’s staking mechanism. The suggested change aims to enhance resilience and decentralization by allowing multiple nodes to collectively validate blocks without creating single points of failure.
In a separate development, the Saga EVM-compatible blockchain halted block production after suffering a $7 million exploit. Investigators said the attacker bridged the stolen funds to Ethereum, and a forensic analysis is under way to trace the assets and identify possible recovery options.
Token Performance Highlights
Beyond large-cap coins, notable movers included the Solana-based gaming token SKR, which gained roughly 250 percent in its first two days of trading, lifting its fully diluted valuation above $400 million. Among established metaverse projects, SAND rose 10 percent, while SKY advanced 11 percent. Cross-Chain protocol CC added 15 percent on the session.
Market data at 10:30 a.m. Eastern showed the following:
- Bitcoin (BTC) +2% to $89,900
- Ethereum (ETH) +2% to $2,995
- Solana (SOL) +2% to $130
- XRP +3% to $1.94
Equity indices also recovered. The S&P 500 climbed back above 5,300, while the tech-heavy Nasdaq Composite added nearly 1 percent in early trading. Treasury yields ticked higher as demand for government bonds eased, reflecting a broader rotation away from defensive assets.
Looking Ahead
Investors are now watching for additional policy signals from Washington and Brussels after the apparent retreat from tariff escalation. Any renewed trade rhetoric could quickly feed back into asset prices, analysts said. Market participants are also preparing for next week’s flurry of U.S. economic data, including fourth-quarter GDP and the Federal Reserve’s preferred inflation gauge, which may influence expectations for the central bank’s rate path.
Further clarity on the Clarity Act—alongside ongoing rule-makings in multiple jurisdictions—may help determine how institutional capital approaches the sector in the months ahead. For now, the evaporation of a near-term macro threat has allowed digital-asset markets to stabilize and, in some corners, resume an upward trajectory.
Additional background on the tariff standoff and its market impact can be found through Bloomberg’s trade coverage, which tracks real-time policy developments.
Crédito da imagem: Decrypt
