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Fed Says 'Surge' in Crypto Prices Reflects Increased Appetite for Risk
The central bank's monetary policy report to Congress gave crypto a rare shoutout Friday.
By Danny Nelson
Updated Sep 14, 2021, 1:23 p.m. Published Jul 9, 2021, 9:40 p.m.
The U.S. Federal Reserve singled out a dramatic rise in the price of cryptocurrencies in its overall assessment of the stability of the financial system, according to Bloomberg, which said it's the first time the central bank has ever done so.
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In its semiannual Monetary Policy Report, the Fed told Congress "the surge in the prices of a variety of crypto assets" reflects investors' increased appetite for risk. While Fed officials have discussed crypto before, they have seldom, if ever, used the asset class as a benchmark to consider broader market conditions.
Small shifts point to the Fed giving crypto a closer look. Top brass have met with key industry figures in recent months as they prepare to tackle more questions about crypto, such as how to proceed on a digital dollar project.
Even so, one small shoutout doesn't amount to a sea change. The 69-page report declined to elaborate further on crypto assets or their resiliency, prospects and impact on monetary policy. It bundled the mention within a broader section on the price of "risky assets," sandwiched between housing prices and Treasury yields.
"Asset prices may be subject to significant declines should investor risk appetite fall, interest rates rise unexpectedly or the recovery stall," the section ended.
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Key U.S. Senator on Crypto Bill, Lummis, Negotiating Dicey Points With White House
The Republican lawmaker who is among the core negotiators on the U.S. market structure bill said the White House has rejected some ethics language.
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- Sen. Cynthia Lummis (R-Wyo.) said she is negotiating with the White House on behalf of Senate Democrats trying to insert ethics provisions into Congress' market structure legislation.
- Lawmakers should reveal a new draft market structure bill by the end of the week and hold a markup hearing next week, she said.
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