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Bitcoin(BTC) Rises Above $72,427 with a 6.28% Increase in 24 Hours
Bitcoin rose to $72,000 and is now trading at $72,427, with a narrowed 6.28% increase in 24 hours.
Kraken Is First Crypto Firm to Secure Fed Payment Access
Kraken has been awarded a limited purpose account by the Federal Reserve Bank of Kansas City, making it the first digital asset bank to gain direct access to the US central bank’s payment infrastructure.
The account allows Kraken to move money on rails typically reserved for licensed banks, a privilege that lenders have long monopolized. Crypto and fintech firms typically rely on partner banks for access, as well as for compliance infrastructure like anti-money laundering monitoring.
Coinbase, Galaxy, Bitcoin Miners Surge After Trump Urges Passage of Stalled Crypto Bill
Crypto exchange stocks Coinbase Global, Inc., Galaxy Digital Holdings Ltd., bitcoin miners, and other crypto-linked stocks soared in Wednesday trading after President Donald Trump urged banks on Tuesday to "make a good deal" with the crypto industry to advance crypto legislation that had stalled.
A major obstacle for progress on the crypto bill is Wall Street's objection to stablecoins that feature yield-like payments. Banks argue that high-yield crypto tokens could lead to deposits exiting banks, threatening their ability to lend.
Coinbase (COIN) stock jumped 15%, Galaxy Digital (GLXY) climbed 18%, Bullish gained 11%, eToro Group Ltd. rose 4%, and Robinhood added 8% in Wednesday trading.
IREN Boosts Its AI Cloud Capacity to 150,000 GPUs
IREN Ltd entered into purchase agreements for more than 50,000 NVIDIA B300 GPUs to expand its total fleet to 150,000 GPUs, the company said Wednesday.
The company expects to deploy the additional GPUs in phases through the second half of 2026 across its existing air-cooled data centers in Mackenzie, British Columbia, and Childress, Texas. The 150,000 GPU fleet is expected to support AI cloud annualized run-rate revenue of more than $3.7B by the end of the year. Its existing data centers at Canal Flats and Childress provide capacity to support additional GPUs over time, the company noted.
Intel CEO Predicts Memory Shortage to Last Until 2028
Intel's CEO has announced that the ongoing memory shortage is anticipated to continue until 2028. According to NS3.AI, the increasing costs of storage have led to a slowdown in the demand for PC replacements. Furthermore, Japan's PC shipments are experiencing impacts due to these market limitations.
Bitcoin Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Wednesday was $155.19 million. The total net asset value of Bitcoin spot ETFs is $90.30 billion, and the ETF net asset ratio (market value compared to the total Bitcoin market value) is 6.44%.
The Bitcoin spot ETF with the highest net inflow was Fidelity Wise Origin Bitcoin Fund, with a net inflow of $48.01 million, according to SoSoValue.
SoSoValue
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