Trump Crypto Czar David Sacks Steps Down With Key Legislation Still Pending

Bitcoin traders are closely watching U.S. employment data to predict Federal Reserve actions, but a potential government shutdown could delay this information, impacting market volatility. Shutdowns have historically affected Bitcoin prices differently, with uncertainty looming over how the cryptocurrency will react this time.

Vanguard, the world's second-largest asset manager, is considering allowing U.S. clients to purchase crypto ETFs, reflecting increasing client demand and competition. The potential move marks a significant shift from their previous stance in 2024 when they blocked spot Bitcoin ETFs.

Eric Adams, the mayor of New York City, concluded his reelection bid due to controversies and his reputation as a prominent crypto-friendly figure. Despite advocating for crypto integration in various city systems, his tenure faced regulatory and legal challenges, culminating in his withdrawal from the race.

Perpetual futures trading has impacted Solana meme coin launchpads, causing a significant drop in bonding curve trading volumes. Attention has shifted to perp futures, leading to a decline in grassroots meme coin trading activities.

David Knox, PayPal's head of capital markets, has left the payments firm to become the CFO at Hyperion DeFi Inc., a digital-asset treasury company. Hyperion is part of the trend where companies hold crypto assets on their balance sheets.

QNB Group, a major financial institution in the Middle East, has transitioned to JPMorgan's blockchain platform for US dollar corporate payments, enabling faster processing for its business clients in Qatar.

Pavel Durov accused French intelligence of pressuring him to remove specific Telegram channels before Moldova's 2024 presidential elections, linking it to broader government actions on digital privacy. Durov claimed authorities exploited his legal situation to influence political developments in Eastern Europe.

The recent weekend surge in the crypto market has helped offset previous losses, with Solana, Dogecoin, Cardano, Ethereum, and XRP leading the gains. Short positions worth nearly $260 million were liquidated, contributing to the positive market movement.

A proposal by the Firedancer development team at Jump Crypto suggests removing Solana's block limits to allow for dynamic block size adjustments based on validator hardware performance. This change could potentially increase throughput but may favor operators with more powerful machines.

U.S. spot Bitcoin exchange-traded funds saw a decrease in inflows last week, with a net outflow of $902.50 million, attributed to profit-taking and portfolio rebalancing as the quarter ends. Fidelity's FBTC product had the largest outflow, followed by BlackRock's IBIT, but institutional adoption remains strong.