Adriana Kugler steps down from the Federal Reserve Board amid mounting political pressure and renewed uncertainty over Jerome Powell’s leadership. Federal Reserve Board of Governors member Adriana D. Kugler has announced her resignation, stepping down during a particularly sensitive moment for the US central bank as President Donald Trump continues to challenge the long-standing tradition of Fed independence.In a statement released Friday, the Fed said Kugler’s resignation will take effect on Aug. 8. While she did not provide a specific reason for her departure, the central bank noted she plans to return to her academic post at Georgetown University. Her term had been scheduled to end in January.“It has been an honor of a lifetime to serve on the Board of Governors of the Federal Reserve System,” Kugler said. “I am especially honored to have served during a critical time in achieving our dual mandate of bringing down prices and keeping a strong and resilient labor market.”Read more Source: cointelegraph.com (Read Full Article)

Stablecoin-linked stocks in Hong Kong plunged by double digits amid the city’s new regulatory transition, but experts say it’s a healthy correction. Stablecoin companies operating in Hong Kong posted double-digit losses on Friday amid local regulatory shifts and a broader market correction.Bright Smart Securities & Commodities Group fell nearly 20% on Friday, according to Google Finance data. Yunfeng Financial Group dropped more than 16% during the trading session, while Guotai Junan International Holdings slid 11% and OSL Group declined 10.5%.These companies are referred to as “Hong Kong stablecoin-concept companies,” with share prices driven by exposure to stablecoin issuance, custody, trading, or related infrastructure. Still, some local experts view the correction as a positive market adjustment.Read more Source: cointelegraph.com (Read Full Article)

The roundtables, scheduled to be held in 10 cities, will focus on crypto startups less than two years old and with 10 or fewer employees. US SEC Commissioner Hester Peirce will hit the road this fall, leading a 10-city tour as part of the Securities and Exchange Commission’s new crypto outreach initiative. The regulator announced a roundtable series on Friday aimed at gathering feedback from industry stakeholders, developers and investors as the agency weighs future digital asset rules.“The Crypto Task Force is acutely aware that any regulatory framework will have far-reaching effects, and we want to ensure that our outreach is as comprehensive as possible,” Peirce said in a statement.The agency’s crypto task force is “particularly interested” in meeting with crypto startups less than two years old and with 10 or fewer employees. The roundtable discussions will take place between August and December.Read more Source: cointelegraph.com (Read Full Article)

With officials urging companies to “reshore crypto,” global companies are expanding US operations as the Trump administration rolls out pro-crypto reforms. Crypto companies are beginning to return to the United States as top officials signal a shift toward friendlier regulation and domestic growth.In a Thursday speech at the America First Policy Institute, SEC Chair Paul Atkins called on the country to “reshore the crypto businesses that fled,” reinforcing a broader effort by the administration of President Donald Trump to position the US as a global hub for digital assets.Treasury Secretary Scott Bessent said on Friday that the US has entered the “golden age of crypto” and issued a direct call to builders: “Start your companies here. Launch your protocols here. And hire your workers here.”Read more Source: cointelegraph.com (Read Full Article)

The company continues to accumulate BTC through corporate equity and debt offerings, but class action lawsuits against Strategy are mounting. Bitcoin (BTC) treasury company Strategy has expanded the scope its STRC offering twice since issuing the corporate security on July 22. The company announced an at-the-market offering of up to $4.2 billion of its Variable Rate Series A Perpetual Stretch Preferred Stock (STRC), a hybrid corporate security, to purchase more BTC on Thursday.STRC is a dividend-paying security with variable yields that has no set maturity date and can be called or redeemed by the company under specific conditions, making the terms of repayment flexible, according to Thursday’s announcement. Read more Source: cointelegraph.com (Read Full Article)

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation. Today in crypto, exchange Gate has launched spot trading services in the United States; Andreessen Horowitz urged US senators to revise a draft crypto bill in open letter, and public companies buying crypto have committed to spending $8 billion in just the past week.Crypto exchange Gate is launching in the United States, offering spot trading services to US customers for the first time. Founded in 2013 by Chinese scientist Lin Han, the company cited improved regulatory clarity in the country as the reason behind the move.According to Gate, it will initially offer crypto trading pairs for US customers, with upcoming services for fiat on- and off-ramps and support for custodial wallets. As of July 24, the exchange offered over 3,800 trading pairs on its platform, one of the largest asset varieties in the market.Read more Source: cointelegraph.com (Read Full Article)