Palmer Luckey, founder of Anduril Industries, has allied with Joe Lonsdale, co-founder of Palantir Technologies. Collectively, they have put money into a startup that supports banking for the crypto-curious. The joint venture seeks to provide stability to entrepreneurs in Silicon Valley and beyond while assisting tech entrepreneurs to scale their businesses. At the same time, Circle’s stock soared on opening day, and Dogecoin just hinted it’s about to break out.

The cryptocurrency-friendly banking startup, championed by Luckey and Lonsdale, wants to provide a highly secure financial platform. They are committed to the state’s tech industry’s needs, providing the same predictability and reliability. This program is significant as Silicon Valley looks for stability during challenging economic times. The new investment bank will be dedicated to getting cash in the hands of tech entrepreneurs.

Bitcoin has taken the opportunity to consolidate in the $104,000-$105,000 range as investors continue to digest new economic signals. In a recent press conference, Federal Reserve Chair Jerome Powell stated that slower growth could be accompanied by rising inflation. These forces help explain the current overall bearish tone in the crypto space.

Circle Internet Group, Inc. is the issuer of USDC. Since its initial public offering (IPO) on June 5, the company’s stock has increased by a staggering 540%. The rally received a significant boost when the U.S. Senate passed the GENIUS Act. Despite its merits, Senator Elizabeth Warren has been the first to raise a flag about loopholes in the GENIUS Act.

Warren expressed concern that this loophole could allow Big Tech firms and large retailers to issue their own stablecoins. Such a scenario would lead to the misuse of consumer data and anti-competitive trade practices. In fact, she called out billionaires like Elon Musk and Jeff Bezos as the very ones who might take advantage of such a loophole.

Dogecoin is in the spotlight, with analyst Ali Martinez projecting a 60% price move once it breaks free from a symmetrical triangle pattern. Given that type of technical formation, we could be in for a long period of consolidation before a big breakout move up or down. If Dogecoin does break out, it might offer a pretty lucrative setup for traders.

Anduril Industries, founded by Trump transition team member Palmer Luckey, boasted investments in go-go defense technology innovations. Palantir Technologies, co-founded by Joe Lonsdale, is a big data analytics company.