Crypto-Friendly Startup Bank, Circle's Stock Surge And More: This Week In Crypto

The past week in the world of finance and technology was nothing short of exciting. From the backing of a crypto-friendly startup bank by big names in tech to the stunning surge of Circle’s stock, there was no shortage of intriguing developments.

Here’s a quick recap of the top stories that made headlines.

Anduril And Palantir Founders Back Crypto-Friendly Startup Bank

Palmer Luckey, founder of defense technology startup Anduril Industries, and Joe Lonsdale, co-founder of Palantir Technologies, have reportedly invested in a cryptocurrency-friendly banking startup. The startup aims to provide stability to Silicon Valley and assist tech entrepreneurs in growing their businesses.

Read the full article here.

Circle’s Stock Skyrockets By 540%

Circle Internet Group, Inc., the issuer behind the USDC, saw its stock surge by a whopping 540% since its IPO on June 5. The rally gained further momentum following the U.S. Senate’s passage of the GENIUS Act, a bill that would formally regulate dollar-backed stablecoins.

Read the full article here.

See Also: Tokens Are A Lemon Market…Here’s How To Fix It

Bitcoin, Ethereum, Dogecoin Remain Rangebound

Leading cryptocurrencies, including Bitcoin, Ethereum and Dogecoin, moved sideways as Federal Reserve Chair Jerome Powell signaled slower growth and hotter inflation. Bitcoin consolidated in the $104,000-$105,000 range.

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Dogecoin Could See A 60% Move

Cryptocurrency analyst Ali Martinez projected a 60% price move for Dogecoin once it breaks free from a symmetrical triangle pattern. This pattern typically indicates a period of consolidation in the market before a potential breakout or breakdown.

Read the full article here.

Elizabeth Warren’s Warning on Stablecoins

Sen. Elizabeth Warren (D-Mass.) warned that stablecoin legislation could enable billionaires like Elon Musk and Jeff Bezos to exploit user data and engage in unfair trade practices. She argued that the GENIUS Act has a major loophole that allows Big Tech and major retailers to issue their own stablecoins.

Read the full article here.

Read Next:

• Trump Financial Disclosures Reveal Barron Trump’s Potential $40 Million Windfall From Crypto Project

This story was generated using Benzinga Neuro and edited by Ananya Gairola

Photo courtesy: Shutterstock