🟠 Bitcoin rallies as Fed's Waller backs rate pause
Bitcoin and broader crypto markets moved sharply higher after Federal Reserve Governor Christopher Waller signaled he could support holding interest rates steady.
The rally triggered a significant short squeeze, with $415 million in short positions liquidated as prices moved against bearish bets. Stocks and crypto rose in tandem, reflecting the market-wide relief at the prospect of a rate pause.
Macro signals from the Fed continue to be a key driver of crypto price action, with any hint of policy easing quickly translating into risk-on sentiment across digital assets.
🌐 ECB Official Calls for Central Bank Money to Go On-Chain
European Central Bank Executive Board member Isabel Schnabel has called for central banks to bring money on-chain, arguing it could modernize the financial system.
Schnabel highlighted three key benefits: faster settlement, programmable monetary policy, and improved interoperability between financial systems. She also pointed to two active ECB initiatives — Pontes and Appia — as concrete steps toward putting central bank money on distributed ledger infrastructure.
The push from a senior ECB official signals growing institutional interest in tokenized central bank money, a development with direct implications for stablecoins and the broader digital asset ecosystem.
🏦 Sberbank to Accept BTC, ETH and USDT as Loan Collateral
Russia's largest bank, Sberbank, is preparing to expand its crypto-backed lending program to include Bitcoin, Ethereum, and Tether's USDT as collateral for loans.
The move follows Russia's introduction of new regulated crypto trading rules. Sberbank's full rollout still depends on approval from the Bank of Russia, and the initiative builds on an existing digital asset loan pilot already underway at the institution. The government holds a majority stake in Sberbank.
As Russia formalizes its crypto regulatory framework, one of its most systemically important banks moving toward multi-asset crypto collateral marks a notable step in institutional adoption within the country.
⚖️ Crypto leads all sectors with $206M in political spending
Crypto companies outspent every other corporate sector in political donations over the 18 months through June, contributing $206 million out of a record $646 million total, according to Public Citizen's analysis of FEC filings.
Combined with AI and online betting, the three sectors accounted for $344 million — more than half of all corporate political spending in the period. The GENIUS Act, a stablecoin regulation bill, has already passed as a result of the industry's lobbying push.
With that legislation secured, the crypto industry's next legislative targets in Congress remain the focus of ongoing advocacy efforts.
🏦 Coinbase Partners with Betrmortgage on Bitcoin-Backed Loans
Coinbase has announced a partnership with Betrmortgage to allow users to secure mortgages using Bitcoin as collateral.
The collaboration marks an early move into crypto-backed real estate financing, though no further details on loan terms, eligibility, or product availability were included in the announcement.
If the model scales, it could represent a new use case for Bitcoin as a financial asset within traditional mortgage markets.
📊 Bitcoin drops to $76,900 as rate-hike fears spark $488M liquidation
Bitcoin fell as low as $76,909 Friday before partially recovering to $77,712, a 4% drop over 24 hours, after Fed Chair Kevin Warsh revived the prospect of higher interest rates at Jackson Hole.
The move triggered a broader crypto liquidation cascade totaling $488 million across the market.
Rate-hike expectations remain a key macro pressure point for risk assets, and the latest remarks from Warsh signal the Fed may not be done tightening — adding uncertainty to near-term crypto market conditions.