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Fed Chair Jerome Powell says banks can serve crypto clients if risks are managed adequately

The brief mention to the relation between banks and crypto was enough to make Bitcoin rebound 3.3%.

CryptoSlate

Jan 30

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Happy Thursday!

Federal Reserve Chair Jerome Powell has opened the door for banks to engage with cryptocurrency clients, provided they effectively manage associated risks. This statement has already sparked a notable 3.3% rebound in Bitcoin prices, reflecting market optimism towards regulatory clarity. In other news, rumors of a potential ETF approval have driven Litecoin's price surge, with bettors on Polymarket expressing confidence in a 2025 green light from the SEC. Meanwhile, a user on PumpFun has made headlines by minting 18,000 tokens and netting a staggering $3.8 million in profits, although some skeptics label the platform as a "rug farm." As the crypto landscape evolves, these developments highlight both the opportunities and challenges facing investors and institutions alike.

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The global crypto market cap is $3.59 trillion, with a 24-hour volume of $135.14 billion. The price of Bitcoin is $105,709.55, and BTC market dominance is 58.3%. The price of Ethereum is $3,260.09, and ETH market dominance is 10.9%. The best-performing sector is Agriculture, which gained 30%. The Crypto Fear & Greed Index is currently Greed (70).