Cryptocurrency Summary

Bitcoin has stabilized near $89,000, coinciding with record highs for gold and a rise in Asian stock markets. Meanwhile, Hong Kong is proposing new regulations aimed at attracting insurance capital into the cryptocurrency sector.

On another note, the Federal Reserve is seeking input on what types of accounts would be most appealing to cryptocurrency firms, as they navigate regulatory landscapes. Additionally, Galaxy Digital's head of research recently highlighted the uncertain outlook for Bitcoin's price by 2026.

In mining news, Tether-backed Northern Data has sold a mining firm to executives at Tether, marking another significant shift in the industry.