On August 14, 2022, U.S. President Trump signed an executive order allowing Americans' 401(k) plans to invest in Bitcoin and other Crypto Assets, as well as alternative assets. This policy opened up new funding sources for the Crypto Assets market, driving the price of Bitcoin to pump, with Bitcoin's price surpassing $123,500 on August 14, exceeding the previous historical high. Additionally, in June, the U.S. Senate passed the Stablecoin Regulatory Framework Bill, establishing a regulatory framework for stablecoins and filling a legal gap. As a result, shares of Circle, the "first stablecoin stock" in the U.S. stock market, surged in after-hours trading, once rising over 5%.
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On August 14, 2022, U.S. President Trump signed an executive order allowing Americans' 401(k) plans to invest in Bitcoin and other Crypto Assets, as well as alternative assets. This policy opened up new funding sources for the Crypto Assets market, driving the price of Bitcoin to pump, with Bitcoin's price surpassing $123,500 on August 14, exceeding the previous historical high. Additionally, in June, the U.S. Senate passed the Stablecoin Regulatory Framework Bill, establishing a regulatory framework for stablecoins and filling a legal gap. As a result, shares of Circle, the "first stablecoin stock" in the U.S. stock market, surged in after-hours trading, once rising over 5%.