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After Howard Lutnick became the Secretary of Commerce in the Trump administration, his family's investment bank, Cantor, is heading toward its most profitable year ever.
Quick Take Bitcoin fell below $90,000 on Monday, as analysts pointed to institutional repositioning and profit-taking from short-term traders. One analyst noted $80,000 as a critical threshold, where a break below could lead to lows of around $74,000 seen in February.
Quick Take Amplify’s new XRPM fund offers XRP price exposure and targets a 36% annual option premium through weekly covered calls. The actively managed ETF aims to balance income and capital appreciation without directly investing in XRP.
Quick Take Spot bitcoin and Ethereum ETFs saw a combined net outflow of $437 million on Monday, continuing their negative flow trend. Recently launched Solana, XRP and Litecoin ETFs saw positive flows on Monday, potentially signaling early capital rotation toward altcoins.
Brazil’s Finance Ministry is reviewing a tax on stablecoin transfers after the Central Bank reclassifies them as forex operations.
Quick Take Banks may have to pay network fees as part of doing business and hold crypto on balance sheets to pay those fees, the bureau said in its Interpretive Letter 1186 on Tuesday. The OCC referred to Ethereum as an example, saying that the Ethereum network requires transactions to be denominated in ETH.
Quick Take Block’s Square business is showing early signs of recovery as new lending models and wider distribution help close the gap between payment volume and profit. Cash App’s expanding crypto capabilities, including Lightning and stablecoin payments, further link its consumer and merchant ecosystems.
Quick Take Since the beginning of the second quarter, monthly fees generated by Uniswap grew by 17% on average. The following is excerpted from The Block’s Data and Insights newsletter.
Quick Take The Ethereum Foundation’s Account Abstraction team published a blog post on Tuesday outlining the goals for the upcoming Ethereum Interop Layer, which is now open for testing.
Quick Take Senate Banking Chair Tim Scott said he aims to have committees vote on the crypto market structure bill next month. Scott added that he hopes to bring the bill to the Senate floor in early 2026 for President Trump’s sign-off.