Clarity Act text lets crypto firms offer stablecoin rewards while shielding bank yield
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Crypto News

Stablecoin yield would be prohibited under a newly released agreement addressing that contentious part of the crypto market structure legislation in an approach that’s broadly similar to what’s been discussed since the start of the year. The new section of proposed Digital Asset Market Clarity Act text released Friday revealed that the compromise hashed out […]

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AIMCo scores $69 million paper gain on Strategy bet
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Crypto News

Alberta Investment Management Corporation (AIMCo), according to its first quarter 13F filing, purchased 1,382,000 shares of Strategy (MSTR) for $172,473,600. This implies an average cost of about $125 per share. With MSTR having rallied to about $175, that position would now be valued at roughly $241 million, representing an unrealized gain of about $69 million. […]

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U.S. senators won’t be weighing in on prediction markets bets after banning themselves
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Crypto News

A U.S. Senate that’s struggled to move crypto market structure legislation moved like lightning on Thursday to ban themselves from participating in prediction markets. Acting on a simple, 14-line resolution pushed by Ohio Republican Senator Bernie Moreno, the Senate agreed unanimously to put a restriction between members and the increasingly popular, controversial betting platforms that […]

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Senator Warren questions Commerce Secretary Lutnick on Tether loan to family
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Crypto News

U.S. Secretary of Commerce Howard Lutnick, the former CEO of Cantor Fitzgerald that handles Tether’s finances in the U.S., has been questioned by Senate Democrats on reports that a trust tied to his children received a loan from Tether meant to help finance Lutnick’s divestiture of his company stake that went to his children. Senators […]

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Hyperliquid’s HYPE token could be its prediction market weapon, Arthur Hayes says
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Crypto News

Leading decentralized exchange Hyperliquid’s push into prediction markets is about who captures the upside, not just cheaper trading, according to Arthur Hayes, co-founder of BitMEX exchange and CIO of Maelstrom fund. CoinDesk reported earlier that Hyperliquid is preparing a zero-fee-to-open model for event trading under HIP-4. The Hyperliquid Improvement Proposal (HIP)-4 is a proposal that […]

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Nigel Farage faces standards probe over $6.7 million gift from Tether billionaire Christopher Harborne
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Crypto News

Reform UK leader Nigel Farage received about £5 million (around $6.7 million) from crypto billionaire Christopher Harborne before announcing his run for the Clacton seat in 2024, The Guardian reported Wednesday. The Conservatives have referred him to the Parliamentary Standards Commissioner, while Labour has also accused him of breaking House of Commons rules. Farage confirmed […]

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Canada proposes ban on BTC ATMs as fraud cases mount
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Crypto News

Canada is proposing to ban crypto ATMs as part of a broader crackdown on fraud and money laundering, citing growing evidence that the machines have become a key tool for scammers. The measure, included in the Liberal government’s Spring Economic Update released Tuesday, would eliminate crypto ATMs nationwide. Officials described the machines as a “primary […]

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Chiliz expands to Solana and Base to supercharge fan token trading
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Crypto News

Sports-focused blockchain Chiliz is expanding its roster of over 70 fan tokens to Solana and Base, the Ethereum layer-2 network developed by Coinbase (COIN). Chiliz rolled out its own layer-1 network in 2023 to host the trading of its tokens, but is transitioning to what it calls “omnichain distribution,” according to an announcement on X […]

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BTC drops below $77,000 as rising oil and Iran risks stall the rally
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Crypto News

The bitcoin BTC$76,913.01 rally toward $80,000 didn’t last long on Monday, with prices slipping back to $76,600 during the U.S. session as geopolitical tensions crept back into focus. After trading near $80,000 overnight, its highest level since early February, the largest cryptocurrency reversed course and was down about 1.5% over the past 24 hours. Major […]

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Running out of time on Clarity: State of Crypto
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Crypto News

The crypto market structure bill has not made much public movement in a month. While making a prognosis on the bill is difficult, it’s not hard to see that the clock for passage is running out. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to […]

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Arkham says Aave raised $160 million of the $200 million it needs to cover exploit damage
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Crypto News

Lending platform Aave has raised about $160 million it needs to cover the $200 million in bad debt left behind by the year’s largest decentralized finance (DeFi) exploit, Arkham posted on X on Saturday. “AAVE have so far raised $160M to cover the bad debt from the Kelp DAO Exploit, at defiunited.eth,” the blockchain analytics […]

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