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Swiss central bank bitcoin reserve push fails after referendum signature drive falls short

A citizen campaign to require the Swiss National Bank to hold bitcoin as part of its reserves has been halted after failing to gather enough signatures for a national referendum. The initiative sought a constitutional change to mandate that some monetary reserves be held in gold and bitcoin, without specifying the bitcoin share. Supporters promoted bitcoin as a neutral reserve asset and hedge against dollar and euro exposure, but the SNB has opposed the idea, citing liquidity and volatility concerns.

Crypto

ECB president says central bank money infrastructure should come before euro stablecoins

European Central Bank President Christine Lagarde said Europe should build a tokenised payment infrastructure based on central bank money, rather than prioritising private stablecoins, to strengthen the euro’s international role. She said expanding euro-denominated stablecoins to counter dollar-pegged tokens was not Europe’s best option. Lagarde pointed to the Eurosystem’s Pontes project and Appia roadmap, while warning of potential financial stability risks from stablecoins.

Crypto

Bitcoin holds above $81,000 amid derivatives stall; will rally continue?

Bitcoin has climbed above $81,000 for the first time in about 3 months, but derivatives markets have yet to show clear conviction that the rally will last. Futures and options indicators point to continued caution, while macro signals are mixed. On-chain activity has weakened, with daily transfer value and transaction counts falling. Strategy paused purchases ahead of earnings. By contrast, U.S.-listed spot bitcoin ETFs saw $1.16 billion of net inflows.