Denis Beau warns dollar stablecoins threaten Europe

Denis Beau urged immediate private-sector mobilisation to build euro stablecoins, breaking publicly with ECB president Christine Lagardes slower approach.Banque de France deputy governor Denis Beau called for all relevant European players, public and private, to mobilise now to develop euro-based tokenised money.Beaus position conflicts with ECB president Christine Lagarde, who favours a central bank digital euro targeted for launch around 2029.Dollar-pegged stablecoins account for 98% of the total stablecoin market, raising fears of digital dollarisation across European payment infrastructure.  Denis Beau, deputy governor of the Banque de France, called on May 12 for a “mobilization of all relevant European players, public and private,” to develop euro-based tokenised money to counter the dominance of dollar-pegged stablecoins. His position puts him at odds with ECB president Christine Lagarde, who favours waiting for a state-issued digital euro scheduled for around 2029.  “To ensure a sound development of tokenised finance in Europe, its payment and settlement asset pillar should be in euro,” Beau told analysts this week. Dollar-pegged tokens from Tether and Circle currently account for 98% of the total stablecoin market, a concentration Beau described as a direct threat to European monetary sovereignty.  What Beau is asking for and why it differs from Lagarde  While Lagarde has

05-13

Pound Sterling fell after hot US CPI

In the fifteen-minute chart, GBP/USD trades at 1.3540, maintaining a bearish intraday tone after staying below the days open at 1.3608, which now acts as overhead resistance. The Stochastic RSI hovers deep in overbought territory near 92, suggesting that the latest bounce is losing quality and that upside attempts could struggle while the pair remains capped beneath the opening print.  On the topside, initial resistance is located at the day open around 1.3608, and a sustained break above this level would be needed to ease the current downside bias and allow for a more meaningful recovery. With no clear nearby support levels from moving averages or other structures in this dataset, traders may look to intraday price swings and prior session lows to gauge potential demand zones if selling pressure resumes from current levels.  In the daily chart, GBP/USD trades at 1.3540, holding a modest bullish near-term bias as it extends above both the 50-day and 200-day exponential moving averages (EMAs) at 1.3482 and 1.3380 respectively. The recovery is underpinned by this reclaimed moving-average structure, while the Stochastic RSI easing back toward the midline around 50 suggests that immediate upside momentum is consolidating rather than accelerating.  On the topside, the first technical reference

05-13

ADA Price Prediction: $0.32 Target Within 30 Days as Whale Positioning Signals Breakout

Cardano sits in a technical squeeze at $0.28, trading dangerously close to its upper Bollinger Band with momentum thats neither convincingly bullish nor bearish. The MACD histogram at flat zero tells the story of a market in limbo, while the -0.65% daily drop masks underlying accumulation patterns that major altcoins are experiencing.  Whats driving this tension? ADA trades 20% below its 200-day moving average of $0.35, creating a massive technical gap that either needs to be filled or will serve as a ceiling for any rally attempt. The current positioning represents a critical inflection point where Blockchain.news has observed similar setups historically resolve with significant directional moves.  Indicator Alignment  The technicals present mixed signals, but the smart money speaks clearly. With RSI at 62.62, were in that neutral zone where breakouts happen without warning. The real story lies in the Bollinger Band positioning at 0.86 – this crypto is practically kissing the upper band, which typically signals either an imminent rejection or the start of a band-walking rally.  ADA has cleared every short-term moving average while remaining well below the critical 200-day at $0.35. This creates a setup where any catalyst could trigger moves in either direction. The MACD signal line convergence at 0.0070

05-13

Major U.S. Labor Unions Urge Senators to Oppose the Crypto Bill

Crypto  Major U.S. Labor Unions Urge Senators to Oppose the Crypto BillLabor unions have urged senators to oppose the rules-of-the-road crypto bill ahead of Thursdays vote. The unions say the legislation lacks safeguards and endangers worker pensions through added volatility.This adds another hurdle to passing the crypto market structure bill and may signal continued scrutiny.   Major U.S. labor unions, including the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), Service Employees International Union (SEIU), and others, are urging senators to oppose the Digital Asset Market Clarity Act (CLARITY Act) ahead of Thursdays critical Senate Banking Committee vote.  Labor Unions Urge Senate to Block Crypto Bill  According to sources, five major U.S. labor unions, including the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), Service Employees International Union (SEIU), American Federation of Teachers (AFT), National Education Association (NEA), and American Federation of State, County and Municipal Employees (AFSCME), have sent letters to senators urging them to oppose a rules-of-the-road crypto bill scheduled for a markup vote in the Senate Banking Committee on Thursday, May 14.  Why the Crypto Bill Faces Labor Unions Opposition  Notably, the labor unions are opposing the CLARITY Act because they view cryptocurrency as a direct competitor for the

05-13

SOL Price Prediction: $105 Target Within 14 Days as Whales Double Down Despite Seller Pressure

SOLs Technical Reality Check  Solana‘s current positioning reveals a market caught between conflicting forces that spell opportunity for those reading the signals correctly. With price hovering at $96.24 and RSI at 69.82, we’re seeing classic late-stage accumulation behavior where momentum hasn‘t quite tipped overbought but buying pressure remains persistent. The MACD histogram sitting at dead zero isn’t bearish momentum – its compression before expansion, and the direction depends entirely on the next catalyst.  The Bollinger Band positioning at 0.96 tells the real story here. SOL is practically kissing the upper band at $96.97, which historically precedes either violent breakouts or sharp rejections. Given that were trading above all key moving averages except the 200-day SMA at $113, this setup favors the bulls despite the surface-level resistance concerns.  Volume & Price Alignment  The $278.6 million in 24-hour spot volume represents genuine institutional interest, not retail FOMO. More telling is the derivatives positioning: top traders maintain a 1.45 long-to-short ratio while retail sits at 1.32. When smart money aligns this heavily on the long side, Blockchain.news analysis shows it typically precedes significant upward moves.  The aggressive selling pressure shown in the 0.88 taker buy-sell ratio is actually bullish confirmation. These are weak hands getting absorbed by stronger

05-13

Gold edges higher despite hotter US inflation, Trump–Xi summit in focus

Finance  Gold edges higher despite hotter US inflation, Trump–Xi summit in focus  Gold price (XAU/USD) trades with mild gains near $4,720 during the early Asian session on Wednesday. However, the potential upside for the precious metal might be limited due to hotter-than-expected US inflation and shifting geopolitical tensions. Traders will take more cues from the US April Producer Price Index (PPI) report, which is due later on Wednesday.  Data released by the Bureau of Labor Statistics on Tuesday showed that the US Consumer Price Index (CPI) climbed 3.8% YoY in April, compared to 3.3% in March. This figure came in hotter than the expectation of 3.7% and registered the highest since May 2023.  On a monthly basis, the headline CPI rose 0.6% in April versus 0.9% prior, matching analysts estimate. Meanwhile, the core CPI, which excludes volatile food and energy prices, rose 0.4% and 2.8% on a monthly and yearly basis, respectively.  Following the hot US inflation data, traders raised the odds for a Federal Reserve (Fed) rate hike by the end of the year to about 30%, according to the CME FedWatch tool. This, in turn, could weigh on the yellow metal. Its worth noting that Gold is often used amid geopolitical uncertainty but

05-13

US government previews Trumps trip to China with CEOs from key industries

Tech  US government previews Trumps trip to China with CEOs from key industries  President Donald Trump is heading to Beijing on May 14 with a corporate entourage that reads like a Fortune 500 all-star roster. Sixteen CEOs from American industrys biggest names will accompany him for a two-day summit aimed at hammering out trade agreements across aerospace, energy, and agriculture.  Its the first time a sitting US president has visited China since 2017.  Whos on the plane  The delegation features some of the most recognizable names in American business. Elon Musk, Tim Cook, Larry Fink, and leaders from Boeing, Citi, Goldman Sachs, and Qualcomm are all confirmed to be part of the traveling party.  The summits agenda reportedly spans trade deals, AI cooperation frameworks, rare earth mineral access, and thornier geopolitical topics including the Iran war and Taiwan.  The administration has signaled its intent to establish what it‘s calling a “board of trade” and “board of investment” as part of the summit’s outcomes.  The inclusion of Qualcomm‘s leadership is particularly notable given the ongoing semiconductor tensions between the two nations. And Larry Fink’s presence, as head of BlackRock, the worlds largest asset manager, suggests that investment flows and capital market access will be front and center in the

05-13

CLARITY Act: Galaxys Alex Thorn Reveals Secret To Securing Bipartisan Support

Tech  CLARITY Act: Galaxys Alex Thorn Reveals Secret To Securing Bipartisan Support  Galaxy Digitals Alex Thorn says the newest edition of the CLARITY Act could get a much-needed bipartisan boost. For this, he spotlighted a surprising addition with Senators John Kennedy and Elizabeth Warren.  Alex Thorn Reveals How CLARITY Act Could Get Bipartisan Backing  The U.S. Senate Banking Committee on Tuesday released the entire text of the CLARITY Act. In the draft, Thorn noted that the addition of the “Build Now Act” could help garner more bipartisan political support before this weeks markup.  Thorn outlined each of these changes in a series of posts on X. He mentioned notable updates to a variety of sections of the proposed plan. These include new powers for the SEC, definition of DeFi, provisions on insider trading, and the bankruptcy regulations for crypto companies.  In addition, he noted that the CLARITY Act has specifically added Section 904, the ‘Build Now Act.’ “This is a bill that was co-sponsored by sens Kennedy and Warren and already passed the senate as part of the ROAD housing bill in march,” Thorn wrote.  He believes that the addition of the Build Now Act within the CLARITY Act provides another pathway for it to become law.

05-13

DOGE Price Prediction: $0.16 Target by Year-End Despite Current Consolidation Trap

DOGEs Technical Reality Check  Dogecoin is trapped in technical purgatory right now. With RSI sitting at 60.55, were seeing classic neutral territory behavior—neither oversold bargain hunting nor overbought exhaustion. The MACD histogram flatlined at zero screams indecision, while price action hugs every major moving average like a scared child.  The Bollinger Band position at 0.68 tells the real story here. DOGE is camping in the upper half of its recent range but can‘t punch through that $0.12 ceiling. When a meme coin gets this technically boring, it’s either building energy for a breakout or setting up for a flush. The 200-day SMA at $0.12 is acting as stubborn resistance, creating a lid on any upside momentum.  Volume & Price Alignment  Here‘s where things get interesting for Blockchain.news readers tracking the smart money flows. Despite retail traders being 67% long on DOGE, we’re seeing aggressive selling pressure dominate with a buy/sell ratio of just 0.81. Thats institutional-sized selling hitting the market.  The $94 million daily spot volume is decent but not explosive. More telling is the derivatives market showing a -11.75% drop in open interest over 24 hours. Positions are being closed, not opened. Yet the funding rate remains neutral at 0.01%, suggesting no panic from

05-13

Circle CEO Reveals CLARITY Act’s Impact on Bitcoin, Ethereum and XRP

The post Circle CEO Reveals CLARITY Acts Impact on Bitcoin, Ethereum and XRP appeared first on Coinpedia Fintech News  Bitcoin climbed close to $82,000 on Tuesday as news broke that the Senate Banking Committee had officially scheduled Thursday as the date for its long-delayed markup of the CLARITY Act. The move gave crypto markets an immediate boost as investors priced in the growing possibility that comprehensive digital asset regulation in the United States is finally within reach.  Circle CEO Jeremy Allaire appeared on Fox Business shortly after the announcement to share his assessment of where the bill stands and what it means for the industry.  What Allaire Said  Allaire described the CLARITY Act as a critical piece of legislation for both the digital asset industry and the broader financial system, saying it creates a regulatory pathway for digital token issuance, market structure, and supervision that the industry has needed for years.  On the stablecoin yield compromise that has dominated the final stages of negotiations, Allaire said Circle views the outcome positively. Under the current text, platforms cannot simply offer passive yield on stablecoin balances the way a bank pays interest on deposits. Instead, rewards must be tied to actual utility, usage, transactions, payments, and other

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