Crypto Market Updates & Industry Moves

Major stablecoin providers are making strategic moves into blockchain infrastructure development. - **Tether**, the company behind USDT - **Circle**, issuer of USDC - **Stripe**, global payments processor These established financial technology companies are independently developing their own Layer-1 blockchain networks. This marks a significant shift in the stablecoin landscape, potentially offering new infrastructure options for digital payments and financial services. *Source: Tyler from FOMO Hour*

Treasury Secretary Bessent has announced support for a 50 basis point interest rate reduction. The announcement was discussed on FOMO Hour with Tyler and LHitch, suggesting potential shifts in monetary policy. - Proposed cut: 50 basis points - Key figures: Treasury Secretary Bessent - Platform coverage: [@fomohour](https://twitter.com/fomohour) This development could signal changing economic priorities in federal policy.

Art Blocks, the generative art platform, has announced a significant milestone with their 500th collection launch. This achievement marks 5 years of continuous innovation in the generative art space. Key highlights: - 500 unique generative art collections released - 5-year journey milestone - Featured discussion on UnderExposedFM with Tyler_Did_It, DeeZe, and CSURAM88 This milestone represents both the culmination of Art Blocks' initial vision and the beginning of their next chapter in the generative art movement.

Brazilian authorities have apprehended four individuals accused of kidnapping a crypto trader's mother in a high-stakes ransom plot. The victim was held at gunpoint for 12 hours while the kidnappers demanded payment from her son, who resides in Portugal. Key details: - Ransom paid: 5 BTC (valued over $600,000) - Location: Brazil - Duration: 12-hour ordeal - Victim: Mother of Portugal-based crypto trader - Status: All 4 suspects now in custody [Read full coverage on Decrypt](decrypt.co/335475/brazilian-)

**Market Update:** - Major cryptocurrencies down ~5%, BTC trading at $117.3K - ETH ETFs continue strong performance with $639.4M inflows **Notable Developments:** - MetaMask launches travel card offering up to 60% off and 7% cashback - Hyperliquid reaches new ATH: $29B volume, $7.7B fees - Ether rock NFT sells for 135 ETH ($606K) **Institutional Moves:** - Google acquires 8% stake in Bitcoin miner TeraWulf - Citigroup exploring crypto custody services - Abu Dhabi SWF reveals $534M BTC ETF investment **Policy Updates:** - Lummis advances Bitcoin Act - US officials discuss budget-neutral BTC reserve acquisition