Why Dogecoin Is Spiking Today
Dogecoin (CRYPTO: DOGE) is up on Tuesday. Over the last 24 hours, the cryptocurrency was trading up 4.4% at its highest. The spike comes as the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) closed up 1.1% and 1.4%, respectively.Dogecoin and most of the crypto market were up today after Jerome Powell spoke to Congress, revealing the Fed is adopting a more crypto-friendly approach. Developments in the Iran-Israel conflict also boosted markets.Federal Reserve Chair Jerome Powell confirmed on Tuesday that U.S. banks can serve cryptocurrency firms, so long as they follow specific risk management and consumer protection rules. Powell emphasized that the Fed won't block lawful bank-crypto relationships and has eliminated "reputational risk" from its bank supervision framework, aligning with recent changes by the FDIC and OCC.Continue reading
Dogecoin (CRYPTO: DOGE) is up on Tuesday. Over the last 24 hours, the cryptocurrency was trading up 4.4% at its highest. The spike comes as the S&P 500 (SNPINDEX: ^GSPC) and the Nasdaq Composite (NASDAQINDEX: ^IXIC) closed up 1.1% and 1.4%, respectively.
Dogecoin and most of the crypto market were up today after Jerome Powell spoke to Congress, revealing the Fed is adopting a more crypto-friendly approach. Developments in the Iran-Israel conflict also boosted markets.
Federal Reserve Chair Jerome Powell confirmed on Tuesday that U.S. banks can serve cryptocurrency firms, so long as they follow specific risk management and consumer protection rules. Powell emphasized that the Fed won't block lawful bank-crypto relationships and has eliminated "reputational risk" from its bank supervision framework, aligning with recent changes by the FDIC and OCC.
