Bitcoin’s price surged to an intraday high of $108,000, while the US stock market hovered near an all-time record. The recent tensions in the Middle East seemed to fade into the background as investors looked to cryptocurrencies.
Federal Reserve Chair Jerome Powell testified before the Senate Banking Committee, stating that the stablecoin industry has matured significantly over the past few years and is now part of the mainstream financial landscape.
Meanwhile, Fannie Mae and Freddie Mac have been ordered by a top federal housing regulator to study allowing bitcoin and other cryptocurrency accounts to factor into mortgage qualifications. This move could potentially lead to cryptocurrencies being considered in mortgage applications.
The US Senate has unveiled a bill to regulate digital assets, with Senator Cynthia Lummis emphasizing the need for the country to be a leader in crypto rulemaking. The New York Stock Exchange is also pushing for a rule change to allow the launch of President Trump’s Truth Social crypto ETF.
Crypto companies are continuing to attract significant investment, with Digital Asset CEO Yuval Rooz announcing a $135 million fundraising round backed by major financial institutions. As regulations and developments continue to shape the industry, investors will be watching closely.
Source: https://www.cnbc.com/2025/06/25/bitcoin-rises-nyse-battles-for-trump-etf-crypto-mortgage-may-be-next.html