After a sell-off last week, bitcoin, the largest cryptocurrency by market value, began to rally over the weekend. Its price topped $40,000 for the first time since June on Monday, and is currently trading at around $40,200 as of 3:35 p.m. EST.
Experts say this boost came from recent bullish news regarding bitcoin, including the “The B-Word” conference on Wednesday where Tesla and SpaceX CEO Elon Musk, Twitter and Square CEO Jack Dorsey and Ark Invest CEO Cathie Wood shared their support for bitcoin.
That’s not all that happened in crypto over the past week. From a potential tether probe to Amazon planning to hire a digital currency lead, here are six more key things to know about.
1. U.S. Treasury secretary Janet Yellen tells regulators to ‘act quickly’ on stablecoin rules
On Monday, U.S. Treasury Secretary Janet Yellen met with the President’s Working Group on Financial Markets (PWG) to discuss the regulation of stablecoins, which are cryptocurrencies that are supposed to be pegged to reserve assets like gold or fiat currency.