Why Bitcoin Just Had Its Best Week Since 2023 | CoinDesk Daily

**Uyen Truong** (0:00)
Bitcoin just logged its best week since 2023, and the CFTC says it'll write crypto's rulebook itself if Congress won't. This is CoinDesk Daily.
RealFi, a smarter stablecoin backed by real world assets. Join the testnet now at realfi.co. CFTC chairman Mike Selig says if Congress can't pass the Clarity Act, his agency will build a crypto rulebook on its own. Selig told a new advisory committee he's directed staff to create a crypto asset market category using the agency's existing authorities.
He blamed Democrat obstruction and said the CFTC would heed President Trump's call to lock in market structure rules. Bitcoin has jumped past 77,000, its biggest weekly gain since March 2023
The real driver isn't a price story, it's a Treasury one. The US. Treasury said it will buy back $4 billion or more of its long dated bonds, double the previous cap. Investors read it as policymakers getting service about rising borrowing costs with broader liquidity support possibly on the way, which is bullish for hard assets like Bitcoin and gold. And XRP is up almost 40% on the week as Ripple is backing a new institutional credit fund built around its RLUSD stablecoin. The fund will make working capital loans to fintech and payment firms, all denominated in RLUSD and running on the XRP ledger. The setup drives demand for Ripple's dollar peg token since borrowers receive and repay in RLUSD. Get more updates on coindesk.com. RealFi, a smarter stablecoin backed by real world assets. Join the test net now at realfi.co.