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The cryptocurrency market, including Bitcoin (BTC), dropped in the late afternoon following the US stock market crash due to Trump's tariff announcement. The US S&P500 recorded approximately a 3.7% decline, marking the largest daily drop since the 2020 COVID-19 pandemic lockdown. With the US stock market crash, Bitcoin fell below $82,000, and numerous altcoins recorded over 5% decline.
2. Fidelity Launches Retirement Account for Cryptocurrency Investment
Global asset management firm Fidelity publicly unveiled an Individual Retirement Account (IRA) that allows investment in various cryptocurrencies on the 3rd. According to the announcement, the IRA launched by Fidelity is accessible to residents over 18 in some US regions and can invest in Bitcoin, Ethereum (ETH), and Litecoin (LTC).
3. Brazil's Largest Bank "Preparing to Issue Stablecoin"
Brazil's largest bank, Itau Unibanco, announced through an official statement on the 3rd that it is preparing to issue its own stablecoin to explore a new business model. Itau Unibanco explained that it is preparing to issue a stablecoin considering efficient management of 55 million customers and convenient fund processing, and is currently communicating with regulatory authorities.
4. Minnesota Advances Legislation to Permit Cryptocurrency Investment
A bill allowing cryptocurrency investment was introduced in the Minnesota State House on the 3rd. Bill 'HF-2946' includes a provision that allows the Minnesota Investment Committee to include cryptocurrencies in public financial plans and is currently under review in the House.
Reporter Kwon Seung-won ksw@blockstreet.co.kr
