Bitcoin and ether rise after reading on wholesale prices unexpectedly declined: CNBC Crypto World

Market Developments - Bitcoin has climbed to just under $114,000, with Ether rising 2.8% to $4,400 and Solana's Soul token increasing nearly 5% [2] - NASDAQ plans to invest $50 million in a partnership with crypto exchange Gemini, allowing NASDAQ to offer Gemini's custodial services to financial institutions [4][5] - Gemini aims to sell over 16.5 million shares priced between $24 and $26 each in its upcoming initial public offering [5] Institutional Interest - There has been a shift in institutional interest towards Solana, particularly following the uplisting of Soul Strategies to NASDAQ [3] - Forward Industries announced a private investment exceeding $1.5 billion led by Galaxy Digital, Jump Crypto, and Multicoin Capital for its treasury strategy [3] Regulatory Landscape - Sylvia Fredo, general counsel of Miston Labs, discussed regulatory advancements for crypto in the US, highlighting the SEC's open-door policy for industry meetings [10][11] - The House passed the Clarity Act, which aims to provide clarity on market structure, and the Senate is working on a similar bill [12][14] - Bipartisan discussions are ongoing, with a potential market structure bill expected to be on the president's desk by Christmas [14][16] Impact of Legislation - The passage of the Genius Act stable coin bill has stimulated interest and partnerships in the stable coin space, indicating that regulation can keep pace with innovation [20][21] - The acknowledgment of stable compliant digital dollars has encouraged participation from companies previously hesitant to enter the crypto space [22] Future Considerations - Tax policy is identified as a significant area needing discussion, with proposals addressing transaction thresholds and the treatment of staking rewards [24][25] - The discourse around decentralized finance (DeFi) is expected to evolve, particularly regarding its coverage in market structure regulations [26]