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In brief Rep. Brad Sherman said allowing government payments in stablecoins would “sanctify an alternative to the U.S. dollar” built to “facilitate a tax-evasion economy.” His rebuke followed NCUA Chairman Kyle Hauptman’s pitch that stablecoins could speed up tax refunds and emergency stimulus payments. The clash came at a House Financial Services Committee hearing on regulators’ progress implementing the GENIUS Act. Long-time crypto critic U.S. Rep. Brad Sherman (D-CA-32) took aim at government stablecoin payments during a House hearing on banking regulators Thursday, arguing that they would facilitate tax evasion.During the hearing on Oversight of Prudential Regulators, National Credit Union…
In brief BitMine raised ~$274 million by selling 3.5 million shares of preferred stock at $80/share, less fees. Proceeds will fund Ethereum acquisitions, staking infrastructure, and possible stock buybacks. The preferred shares pay a 9.5% annual dividend and are expected to list on the NYSE under ticker BMNP. BitMine Immersion Technologies, the leading Ethereum treasury firm, priced a larger-than-expected preferred stock offering Friday, expecting to raise an estimated $273.8 million in a bet on Ethereum’s growing role in institutional finance.The company, which trades under the ticker BMNR, sold 3.5 million shares of newly created Series A Perpetual Preferred Stock at…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin’s recent pullback has significantly flipped the sentiment across the market, with many predicting a more sustained downward performance toward the $60,000 price mark. Following this sharp decline, more investors are now underwater as BTC’s holders’ profitability strongly declines. Bitcoin’s Sharp Decline Leaves More Holders Underwater Given its persistent downward trend over the past weeks, the Bitcoin market dynamics are starting to see one of its most crucial changes in this cycle. One area that has significantly felt the heat of this ongoing bearish action is the…
In brief House Republicans unveiled seven crypto tax bills set to be discussed at a Tuesday Ways and Means Committee hearing. The proposals would exempt staking rewards from taxable income and create a $10 de minimis exemption for gas fees. The bills stop short of creating a broader exemption for everyday crypto purchases, a longtime industry goal. House Republican leadership has begun circulating seven new crypto tax bills that will take center stage at a key hearing next week. The bills cover a wide range of hot-button issues, including de minimis exemptions, the tax treatment of crypto staking and mining rewards,…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Heavily haken by ongoing volatility, Solana and its broader market are facing heightened downside pressure, pushing its price to the $68 mark. Despite how bearish SOL has turned out over the past few months, robust optimism continued to be expressed toward the leading altcoin and its market capability. Solana’s Market Structure Draws Bold Endorsement After conducting an extensive review of market structure, a crypto pundit has made an audacious comment on Solana’s market coverage and infrastructure. The evaluation from Chase, a Solana mobile employer, may identify the…
In brief The price of Zcash crashed more than 40% following the discovery of a vulnerability that could have led to counterfeit ZEC minting. Whether or not the vulnerability was exploited remains unknown—a variable impacting the price according to analysts. Even with its fall, Zcash remains one of the top performing assets of the last year, up more than 580% in that time. A four-year-old vulnerability that could have fueled unlimited minting of ZEC was discovered in one of Zcash’s private transaction pools—a core feature of the privacy-focused network—fueling investor panic and sending ZEC down more than 40% in a…
Charles Hoskinson raised the possibility of splitting Cardano after the collapse of one of its best-known ecosystem tools exposed a deeper fight over money, governance, and who has the power to keep builders alive on the network.This week, the Cardano founder floated what he called a “nuclear option,” saying a new Cardano could be launched through proof of burn if the existing ecosystem cannot change how it funds and commercializes projects.The statement came after TapTools, one of Cardano’s most widely used analytics and infrastructure platforms, said it would begin winding down operations over the next two weeks following leadership departures,…
In brief Strategy’s stock tumbled to a four-month low on Friday, and its flagship preferred stock slipped again. Benchmark-StoneX analyst Mark Palmer said STRC’s swoon “isn’t a real concern,” noting that the firm can hike its dividend to stoke demand. After Strategy disclosed that it sold 32 Bitcoin for $2.5 million this week, the company’s stockpile now sits $13.7 billion underwater. Strategy felt the bite of crypto winter particularly hard on Friday as the Bitcoin-buying firm’s shares slid to a four-month low and Bitcoin fell below the $60,000 mark.The Tysons Corner, Virginia-based firm’s stock price dropped as low as $114,…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin (BTC) accelerated its decline on Friday, falling to roughly $59,685—the lowest level seen since October 2024, when US voters were preparing for the November presidential elections of that year. The sell-off has now spilled beyond BTC itself, dragging the wider crypto market lower and wiping out more than $2 trillion of value since the market’s October 2025 peak of about $4.2 trillion. Bitcoin Sell-off Accelerates According to Bloomberg, the latest decline was driven by several factors acting simultaneously. Over the past month, there has been a…
In brief Anthropic has reportedly embedded roughly half a dozen engineers at the NSA to deploy its Mythos AI model for offensive cyber operations—potentially including attacks on networks in China and Iran. Anthropic also warned that AI is approaching recursive self-improvement and called for a coordinated global pause mechanism. Both landed as Anthropic files for an IPO that could value it above $1 trillion. Anthropic has placed about six engineers inside the National Security Agency to help deploy Mythos—its most capable AI model—for offensive cyber operations, the Financial Times reported Thursday.The engineers are forward-deployed staff, customizing the model for specific…
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure A crypto market expert has shared a grim Bitcoin (BTC) forecast, warning that a major price crash could be on the horizon for the leading cryptocurrency. The analyst noted that Bitcoin’s recent break below a critical support level may have opened the door for a deeper decline that could potentially send its price to much lower levels. He acknowledged that the market remains firmly in a bearish phase and expects more choppy price action before the anticipated breakdown occurs. Why Bitcoin Could Face A Bad Crash Soon…
Bitcoin continued its recent dive on Friday, falling below the $60,000 mark for the first time since 2024.The leading cryptocurrency by market cap was recently trading at $59,909, down about 6% on the day and 18.5% over the last week. Other top coins have taken similar hits amid a broader market decline, with Ethereum down 23% on the week at a recent price of $1,555 and Solana falling 22% in the last seven days to $63.75.Bitcoin has now fallen more than 52% from its all-time high mark of $126,080 set last October.Growing ETF outflows and Strategy’s first Bitcoin sale since…
In brief The UK’s Financial Conduct Authority has listed Hyperliquid and Hyper Foundation as unauthorized. CME’s chief warned that crypto perps could be a “disaster waiting to happen.” Regulators are focused on whether perps markets can withstand sharp turns, Decrypt was told. Hyperliquid is drawing renewed attention as one of crypto’s largest perpetual futures venues, following a May warning in which the UK’s financial regulator listed Hyperliquid and Hyper Foundation as unauthorized amid broader concerns over crypto perps.The warning came from the UK’s Financial Conduct Authority, which said in a notice dated May 21 that Hyperliquid, Hyper Foundation, the protocol’s…