Bitcoin tops $87K, Fed drafts stablecoin rules, Bitget hit by $351M hack | Weekly recap - Crypto News

Bitcoin traded above $87,000 during the week, extending a period of elevated prices for the largest cryptocurrency by market value. Moves of this scale tend to draw attention beyond crypto-native audiences, and the level itself becomes a reference point that market participants watch for signs of sustained demand or consolidation.

In parallel, the Federal Reserve is drafting rules for stablecoins, according to reports. Stablecoins are tokens designed to hold a steady value, typically pegged to the dollar, and they play a central role in crypto trading and payments. Formal rulemaking from a major regulator matters because it can clarify reserve, disclosure, and supervision expectations — factors that shape how issuers and exchanges operate, and how institutional participants assess risk.

Separately, Bitget was hit by a hack totaling $351 million, a reminder that exchange security remains a live operational risk. For observers, the three developments illustrate how price action, regulation, and infrastructure resilience can move on separate tracks — and why each deserves attention rather than being read as a single signal.