Bitcoin led the recovery, while Ethereum recorded the largest outflows.
The U.S. Department of the Treasury lifted its sanctions against Tornado Cash, a censorship-resistant cryptocurrency mixer. The U.S. sanctioned the mixer in 2022 for money laundering.
Anticipated moves by President Trump and Senate Republicans appear intent on using crypto policy to achieve a broader goal: ending the Fed’s independence.
"I'm finally able to announce that this case has ended. It's over," Garlinghouse said in a video shared on his X account.
Strategy, formerly known as MicroStrategy, said on Tuesday that the software firm plans to raise as much as $500 million through a new offering to buy more Bitcoin.
The total value locked (TVL) in decentralized finance (DeFi) protocols has fallen by approximately $50 billion in the past four months, eliminating gains made since the post-election market surge in November 2024.
The $2B investment is also the single largest investment into a crypto company and the largest investment paid in crypto.
Escalating trade tensions and inflation concerns fueled a sell-off triggering $731 million in liquidations.
The cryptocurrency market continued to lose ground on Monday, following a decline on Friday driven by macroeconomic data that heightened concerns about rising inflation.
President Donald Trump established a Strategic Bitcoin Reserve and a stockpile of other digital assets through an executive order on Thursday, shortly before hosting a crypto summit at the White House.
Market volatility persists as Bitcoin and other major cryptos swing between gains and losses before the event.
Bitcoin jumped above $90,000 amid hopeful signs that U.S. President Donald Trump would scale back tariffs, despite lingering uncertainties.
