President Donald Trump is slated Friday to sign the first major federal law governing cryptocurrency, a business that Trump's family have begun forging strong ties to and have promoted in recent years.

There would be a great irony if cryptocurrency — which was created in 2008 to provide an alternative to the mainstream financial system that had just failed — led to another economic crash. But that is what a handful of experts fear could happen now that Congress has passed the GENIUS Act, a major piece of crypto legislation.

Crypto-focused stocks rose on Friday, after ether hit a six-month high on the passage of a stablecoin bill by the U.S. House of Representatives.

The Bitcoin price dipped, reaching a low of $115,736 on Tuesday after hitting a new all-time high of $123,218 to start the week. BTC recovered from this Tuesday’s dip over the next two days and, at the time of writing on Friday, stabilized at around $118,850.

Bitcoin has fallen below the $117,000 level on Tuesday after cryptocurrency-related bills were blocked in the House of Representatives.

Crypto firm Bitcoin Standard Treasury Company said on Thursday it is aiming to list on the Nasdaq through a merger with a Cantor Fitzgerald-backed blank check vehicle.

Over 1 in 5 top Trump appointees reported investments in crypto and other digital assets, far more than previous administrations, a Post analysis found.

The House is voting on a trio of bills intended to boost the legitimacy of the cryptocurrency industry with new regulations