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Crypto Biz: Elon Musk’s X targets financial services, PacWest emergency rescue and more

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This week’s Crypto Biz explores Elon Musk’s plans for X, the Italian central bank’s take on DeFi, PacWest’s merger with Banc of California and more.

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Coin Market

Bitcoin’s $224K ‘fair value’ may emerge if sovereign debt fears deepen: Bitwise

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A sovereign default-risk model estimates Bitcoin’s fair value at $224,000, as rising debt risks and bond-market stress could strengthen the asset’s long-term investment case.

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Coin Market

Movement expands stablecoin payments push with access to US, Canada, EU rails

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The Move-based blockchain network said it gained access to licensed payment infrastructure as it shifts toward stablecoin settlement and remittances.

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CFTC chair claims Gemini case was politically motivated, seeks to reverse $5M settlement

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The CFTC chair seeks to roll back an enforcement action on the company founded by Cameron and Tyler Winklevoss, donors to Donald Trump’s 2024 campaign and attendees at White House events.

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