Today in crypto, the German government’s decision to sell its 50,000 Bitcoin stack in summer 2024 resulted in a $2.3 billion loss as Bitcoin's price soared. The government, which sold 49,858 Bitcoin for over $2.89 billion at an average price of $57,900, missed out on potential gains, with Bitcoin now valued over $104,700. Meanwhile, the US Senate advanced the GENIUS Act, a significant stablecoin regulation bill, by a vote of 66-32, overcoming initial resistance from some Democratic senators. The bill sets a platform for debate after concerns regarding President Trump’s crypto interests were raised. Finally, Ripple launched cross-border payment solutions in the UAE, partnering with Zand Bank and fintech company Mamo to enhance digital payment services, following the approval from the Dubai Financial Services Authority. The UAE is rapidly advancing in cryptocurrency adoption, including developing a digital dirham.

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