The fate of long-awaited cryptocurrency legislation in the U.S. Congress was cast into doubt Tuesday, as a procedural vote to consider the measures was shot down by lawmakers from both parties, and shares of some companies in the sector fell.

Bitcoin rallies past $120K as lawmakers near key crypto legislation. Explore fresh highs, corporate treasury moves, and market outlook.

The price of bitcoin BTCUSD jumped as high as 3% on Monday to $123,165.67 — a new record for the cryptocurrency. Bitcoin subsequently cooled slightly but was still trading at north of $120,000, at last check.

Stablecoins, a type of cryptocurrency designed to maintain a constant value, usually a 1:1 dollar peg, are commonly used by crypto traders to move funds between tokens. Their use has grown rapidly in recent years, and proponents say they could be used to send payments instantly.

If you bet “Donald Trump ends an investigation into a Peter Thiel-backed cryptocurrency platform,” you can claim your winnings. According to Bloomberg, two investigations into the prediction market Polymarket have been shut down by the Trump administration, just in time for Republican lawmakers’ planned “Crypto Week.”

Bitcoin reached all-time high above $123,000 as lawmakers prepare crypto regulatory bills during "Crypto Week," following Trump's pledge to make the U.S. a "bitcoin superpower."

Coinbase contributed $25 million to Fairshake in the first half of 2025, part of $52 million raised so far this year.

We recently published Market on Mute? Not for These 10 Stocks With Surprising Gains. Circle Internet Group (NYSE:CRCL) is one of Monday’s top performers. Circle Internet rebounded from the previous trading day’s losses on Monday,