Bitcoin broke new ground Thursday, setting a new record for the first time since it briefly flirted with $113,000 in late May. The cryptocurrency surged to more than $116,000 Thursday and continued to rise early Friday, nearly hitting $119,000 at one point. Investor optimism about the cryptocurrency's future appeared to get a boost from developments on Capitol Hill, Forbes reports.
- House Republicans recently declared the week of July 14 "Crypto Week," setting the stage for votes on a suite of crypto-friendly bills, including the GENIUS Act. The legislation, championed by GOP Sen. Bill Hagerty, aims to create the first federal regulations for issuers of stablecoins—cryptocurrencies pegged to stable assets like the US dollar.