#crypto Tech News.

The bitcoin price dipped below $60,000, its lowest level since October 2024, before Donald Trump's U.S. presidential election win. Trump's policies, including removing Gary Gensler as SEC head and establishing a strategic bitcoin reserve, were seen as beneficial to the crypto industry. The market has suffered since reaching a new all-time high around $125,000 last October. Bitcoin holders are selling due to increased exposure to the AI industry, with upcoming IPOs and a planned $80 billion capital raise by Alphabet.

Twelve companies join the Fortune 500 for the first time in 2026. Each must earn at least $7.5 billion in revenue. Galaxy Digital enters at No. 76 after its 2025 direct listing. Bitgo, based in Palo Alto, offers institutional crypto services like wallet management and staking. The company completed its IPO in 2026 and serves clients in over 100 countries.

Dogecoin's market cap reaches $14.3 billion, making it the 10th most valuable cryptocurrency. It trades 87% below its May 2021 peak, with a current price of $0.08 and a 52-week range of $0.08 to $0.30. The token has no fundamental catalysts and price moves depend solely on hype. Experts view it as a gamble, not a serious long-term investment, due to lack of underlying value and high volatility.

The US House Ways and Means Committee circulated seven discussion draft bills ahead of a Tuesday hearing on digital asset taxation. The proposals address de minimis reporting exceptions for small crypto transactions, stablecoin activity, and tax clarity for mining and staking. The Digital Chamber CEO Cody Carbone stated that digital asset tax clarity is needed or activity will never fully onshore. Any bill will require bipartisan support in Congress.

Hyperliquid treasuries report standalone profits while legacy crypto digital asset trusts lose billions in value. The performance contrast highlights divergent market outcomes between stable treasury products and traditional crypto asset trusts. Hyperliquid's strategy focuses on liquidity and asset stability. Legacy crypto DATs face declining investor confidence and market performance.

President Trump promised to never let the crypto industry down, claiming he saved it from former SEC chair Gary Gensler's supposed wrecking. He pledged to pursue a future-proof market structure for digital assets. Despite his statement, the crypto market declined over the next 24 hours. Trump's influence over executive agencies could impact regulatory decisions. The Clarity Act, advancing through Congress, may settle regulatory questions and problems for the crypto sector.