Crypto rose briefly, while the wider markets stagnated on Friday after the congress passed A pioneering invoice for digital assets.
The overall market capitalization for all cryptocurrencies brought about 4 trillion dollars before immersion for the first time in history. But traditional camp indices hardly shortened. The S&P 500 essentially closed the day, but recorded a weekly increase of almost 0.7%. The Nasdaq rose by about 0.4% a day and the Dow Jones fell by 0.3%.
The three crypto legislation said goodbye on Thursday. Two legislation went to the Senate for further vote. The third, the stable coins or cryptocurrencies, which were based on the underlying assets such as the US dollar, had already passed in the Senate and went to the White House. On Friday afternoon, President Donald Trump signed the legislation called Genius Act to the law.
“We worked hard. It is a very important act, the brilliant act. You named it after me,” joked Trump during a press conference before the law was signed.
After the congress has passed the legislative template, the world’s largest cryptocurrency bitcoin shot about $ 120,000, according to data from data Binance. In crypto -related companies, their shares also rose on Friday morning morning. The share for us Crypto Exchange Coin base An all-time high quickly achieved almost 6% to $ 444 after the markets opened. It dipped later a day and closed 2.2%on Friday. The online brokerage RobinHood, with which users can buy and sell crypto, also recorded an all-time high of almost $ 113 and recorded a daily jump of 4%.
CEOs for Coinbase, Robinhood and other large crypto companies were in the audience during the signing of Trump’s ingenious law.
Despite the crypto madness operated by Congress, a report on Trump’s tariffs is likely to burden on the larger market. Since the United States is negotiating a potential trade agreement with the European Union, Trump is supposed to urge the EU between 15% and 20% at least one minimum tariff. reported The Finance timesCiting sources that were informed about the talks.
Kush Desai, a spokesman for the White House, refused to comment on the report.
Trump’s collective bargaining has consumed the markets since the beginning of April when he unveiled a number of serious taxes on imports of US trading partners. The markets first had to gather before collecting and recovering their losses in early May. They have been exceeded and repeated since then, even on Thursday when the S&P 500 and the Nasdaq closed With new records.
On the new assets Crypto Playbook Wodcast, AssetsThe senior crypto experts decode the greatest forces that shape crypto today. Observe or listen now
