Crypto majors rise as privacy coins and policy fights grab attention

Crypto prices moved higher, giving retail investors a cleaner read on risk appetite across digital assets. The bigger action sat outside Bitcoin, where privacy-linked tokens, stablecoin rules and prediction-market regulation all moved into focus at the same time.

Bitcoin rose 1.5% to $92,000, while Ether gained 1% to $3,130. Solana climbed 2% to $142, and XRP added 1% to trade at $2.06.

The strongest moves came from smaller corners of the market. DASH jumped 60%, IP rose 30%, and Monero, known by its ticker XMR, gained 13%. XMR reached a new all-time high, often shortened to ATH, at $680 before trading around $640.

Gold and silver also set fresh all-time highs after the Powell investigation, according to the market update. That matters for crypto traders because precious metals often become part of the same conversation as Bitcoin when investors are thinking about inflation, central-bank credibility and alternatives to traditional money.

Washington puts stablecoins and retirement accounts under the microscope

The U.S. Senate released a draft of the Crypto Market Clarity Act. The draft includes limits on rewards tied to stablecoins, which are crypto tokens designed to track the value of a traditional asset such as the U.S. dollar.

Stablecoin rewards are payments or incentives offered to users who hold or use those tokens. Lawmakers are looking at that area because rewards can make a token behave more like an interest-bearing product, which can raise questions about investor protection and banking rules.

Senator Elizabeth Warren also pressed the Securities and Exchange Commission over crypto exposure in 401(k) retirement plans. Warren argued that adding crypto to those plans could expose retirees to too much risk.

A 401(k) is a tax-advantaged retirement account offered through many U.S. employers. The debate matters because retirement accounts are usually built for long-term savings, while crypto assets can move sharply in short periods.

Stablecoin risks draw attention from crypto insiders

Ethereum co-founder Vitalik Buterin warned that crypto needs better decentralized stablecoins. He cited the risks of governance capture and inflation.

Governance capture means control of a supposedly decentralized system becomes concentrated among a small group of decision-makers. Inflation risk, in this context, refers to the possibility that a token system expands supply or changes incentives in a way that weakens holders’ value.

World Liberty Financial launched a crypto lending platform built around its USD1 stablecoin. The platform attracted about $20 million, according to the update.

Separately, BitGo filed for a U.S. initial public offering, or IPO, targeting a valuation of about $2 billion. An IPO is the process of selling shares to public-market investors for the first time. BitGo’s custody assets, meaning assets it holds and secures for clients, have surpassed $100 billion.

Prediction markets face state pressure

Tennessee regulators ordered Polymarket, Kalshi and Crypto.com to stop offering sports prediction markets and refund users. Prediction markets let users trade contracts tied to the outcome of future events, including sports results.

The Tennessee action escalates a legal fight that now spans multiple states. For crypto investors, the case is another reminder that regulation can shape which products survive, even when the underlying technology keeps moving quickly.

This story draws on original reporting from Decrypt.