Goldman Sachs and BNY’s Tokenized Fund Move

Goldman Sachs and BNY Mellon are expanding blockchain-based investment products for institutional clients. Through the new initiative, investors will have direct access to money market funds stored on Goldman Sachs’ private blockchain, offering advantages such as 24/7 access and real-time payments. 

With this step, BNY aims to play a key role in transitioning to digital financial infrastructure. BNY executive Laide Majiyagbe emphasized the evolution of finance toward digital and real-time structures. 

This innovation follows the recent approval in the U.S. House of Representatives of the GENIUS Act, which bans interest-bearing stablecoins. Major fund managers like BlackRock, Fidelity Investments, and Federated Hermes support the initiative. 

SEC Suspends Bitwise ETF Approval

After approving the conversion of the Bitwise 10 Crypto Index into an ETF, the SEC halted the process on the same day. The Tuesday decision initially granted temporary approval, but a letter issued that day suspended the action. 

SEC assistant secretary Sherry Haywood said the agency will “review the delegated action.” This move resembles the Grayscale ETF case, which was similarly approved and then paused on July 1. 

Nate Geraci, president of NovaDius Wealth Management, called the decision “bizarre.” Bloomberg analyst Eric Balchunas said the SEC has yet to establish a clear listing standard for crypto ETFs. 

FBI Closes Jesse Powell Investigation

The FBI has concluded its investigation into Kraken co-founder Jesse Powell. Digital devices seized during a 2023 search of Powell’s home have been returned. 

The investigation stemmed from hacking and cyber harassment allegations against Powell involving the Verge Center for the Arts, a nonprofit he founded in 2008. The FBI’s closure of the case ends another tense chapter in the crypto space. Powell had denied the claims from the beginning and launched a legal battle against the Verge board. 

Meanwhile, Tether is working on local strategies for the U.S. market following a White House meeting. Treasury Secretary Bessent raised the possibility of 1–2 interest rate cuts this year. 

In conclusion, institutional adoption, regulatory uncertainty, and market-moving news point to a dynamic week for crypto investors.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates. 

The post Crypto Shake-Up: Goldman, Tether, SEC & Bitwise ETF! appeared first on Coin Engineer.

The story involves a $300 million purchase of Trump’s official memecoin. But the Chinese tech giant was quick to push back on the claims.

TikTok: “False and Irresponsible Accusation”

Democratic Representative Brad Sherman accused the Chinese owners of TikTok of buying “Trump Coins” as a political bribe. However, TikTok’s official policy account on X sharply denied the claim, calling it false and misleading.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

“This is patently false and irresponsible, and doesn’t even reflect a letter you signed last month,” the company said in a public statement.

GD Culture Group Creates Confusion

Sherman’s claim may have stemmed from reports about Nasdaq-listed GD Culture Group announcing plans to purchase Trump memecoin and Bitcoin. While GD Culture produces AI-driven content on TikTok, it has no formal affiliation with TikTok or its parent company ByteDance.

Still, Sherman linked these announcements directly to TikTok, suggesting they represented a disguised financial favor to Trump. The lack of evidence for any such connection raised eyebrows across the political and crypto communities alike.

Community Pushback Against Sherman’s Claim

Sherman is known for his anti-crypto stance, previously calling for a blanket ban on digital assets. His recent comments were quickly dismissed by much of the online community, who questioned his grasp of crypto mechanics and motivations.

Some users criticized the accusation as politically charged misinformation, while others highlighted that cryptocurrencies cannot simply be created “at no cost.”

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post TikTok Denies $300M Trump Coin Bribe Allegation appeared first on Coin Engineer.

In an April 14 interview, Hines suggested that revaluing Treasury gold certificates from $43 to $3,200 per ounce could create a paper surplus for buying BTC — all without selling gold. Tariff revenue was also listed as a funding option.

Bitcoin Reserve Will Start With Seized Assets

The Strategic Bitcoin Reserve will initially be composed of BTC seized in criminal cases. However, Hines emphasized the administration is also focused on budget-neutral strategies to accumulate more Bitcoin.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

“We’re turning over every stone,” Hines said. “We want as much Bitcoin as we can get.”

Digital Asset Framework To Be Released By Late Summer

The White House is preparing a comprehensive digital asset framework, addressing everything from tokenization to staking and international stablecoin policy. The report is expected in July or August.

Notably, Hines was not questioned about Donald Trump’s crypto ventures, including the controversial TRUMP token or ties to World Liberty Financial, which have drawn criticism from Democratic lawmakers.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post US Has ‘Countless’ Ways To Bolster Bitcoin Reserve! appeared first on Coin Engineer.