Crypto markets gain momentum as Bitcoin hits $77,991 and Ethereum reaches $2,501, supported by regulatory shifts in the housing sector and optimism from Coinbase leadership.
Bitcoin opened higher and lifted to $77,991.09 as investors moved past the CLARITY Act failure.
Ethereum opened 1.2% higher and rose to $2,501.16 in early trading.
Coinbase CEO Brian Armstrong expressed optimism about an alternative regulatory path despite the CLARITY Act failure, while crypto prices rose.
FHFA ordered Fannie Mae to prepare to accept cryptocurrency as mortgage collateral.
FHFA ordered Freddie Mac to prepare to accept cryptocurrency as mortgage collateral.
Better and Coinbase issued the first Fannie Mae-backed crypto mortgage.
Bitcoin and Ethereum climbed in early trading, reaching $77,991 and $2,501 respectively, as investors shrugged off the failure of the CLARITY Act. Coinbase CEO Brian Armstrong signaled optimism for alternative regulatory paths, while the FHFA pushes to integrate cryptocurrency into the U.S. mortgage market.
The FHFA has ordered Fannie Mae and Freddie Mac to prepare to accept cryptocurrency as an asset for mortgage collateral, aiming to modernize the housing system.