Author: driver789
US Senate Banking Committee member Bill Hagerty said Monday that he expects a potential path for a digital asset market structure in the coming weeks after months of delays in Congress.Speaking at the Digital Assets and Emerging Tech Policy Summit at Vanderbilt University, he said his fellow Republican lawmakers planned to move the bill through the banking panel starting next week. “We will be in a position, I hope, to bring all of this together very soon,” said Hagerty, referring to work on the bill in the Senate. “On the banking committee side, I think we’re very close, and my…
Polymarket said it expects to roll out a new 1:1 USDC-backed collateral token in the coming weeks as part of a broader overhaul of its trading platform, according to a post on X.The upgrade, described by the company as a “full exchange upgrade,” includes a rebuilt trading engine, updated smart contracts and a new collateral token called Polymarket USD. The token will replace USDC.e, a bridged version of Circle’s USDC stablecoin that originates on Ethereum (ETH) and is wrapped for use on other chains.USDC.e acts as a stand-in for native USDC but relies on bridge infrastructure, which can introduce added…
China’s tax and financial regulators on Monday urged banks and local authorities to use blockchain and privacy computing to upgrade the “bank-tax interaction” model and expand financing for small businesses.The State Administration of Taxation and National Financial Regulatory Administration said in a joint policy notice that banks and taxpayers should standardize data sharing and reduce information asymmetry between tax authorities, banks and enterprises.The report also urged banks to improve credit models, enhance credit approval efficiency and increase the supply of financing services to “honest, tax-paying enterprises.”The directive aligns with China’s broader effort to integrate blockchain into data infrastructure, following a…
The Bitcoin price has surged back above $69,000 after experiencing a major decline last week. While the price appears to be rebounding from the downtrend, a market analyst has warned that the BTC could still face another price crash. After projecting its decline from above $100,000, the analyst now forecasts a price plunge to $29,000, likely marking Bitcoin’s final bottom. Bitcoin Price Faces Possible Crash To $29,000 Market expert LavaXBT has shared two possible scenarios for Bitcoin’s next move. However, the analyst appears to be leaning more bearish, projecting that BTC could fall again, hitting levels not seen in years.…
EDX Markets’ bid for a federal trust bank charter is not just another crypto expansion story. It is a live test of whether Wall Street-backed firms can move more of crypto’s custody and settlement stack inside the U.S. banking perimeter. Citadel, Fidelity, and Schwab-backed EDX wants to bring equity market structure to crypto through a federal trust bank EDX Markets’ application for a federal trust bank charter opens a more consequential question than whether another large financial consortium wants deeper exposure to digital assets. The sharper question is whether some of the firms that helped shape modern U.S. equity market…
Bitcoin price pushed back toward the top of its recent range after a burst of geopolitical headlines tied to Donald Trump and tensions around the Strait of Hormuz. The Bitcoin price touched $70,271 before easing to about $69,300, extending a move that triggered large liquidations across derivatives markets. Data from Bitcoin Magazine Pro and CoinGlass shows about $255 million in positions were wiped out over a 24-hour period, with short sellers accounting for the bulk of losses. The move followed a series of conflicting statements from Trump, who threatened strikes on Iranian infrastructure while also signaling that negotiations could produce…
Michael Saylor’s Strategy, the world’s largest publicly listed holder of Bitcoin, resumed buying BTC last week after reporting no purchases in the final week of March.Strategy acquired 4,871 Bitcoin (BTC) for $329.9 million last week, according to an 8-K filing with the US Securities and Exchange Commission on Monday.The purchases were made at an average price of $67,718 per coin, below the company’s overall average acquisition price of $75,644. The new acquisitions bring Strategy’s holdings to 766,970 BTC, acquired for a total cost of around $58 billion.Source: SECIn addition to the purchase update, Strategy also reported its first-quarter financial results,…
Michael Saylor’s Strategy (MSTR) added 4,871 bitcoin to its treasury over the past week at an average price of roughly $67,718 per coin, spending approximately $329.9 million, according to a Monday filing.The purchase brings total holdings to 766,970 BTC acquired for $58.02 billion at an all-in average cost basis of $75,644. At bitcoin’s current price near $69,120, the entire position is underwater by roughly 8%, or about $5 billion in unrealized losses on paper.Last week’s purchases were mostly funded through $227.3 million in sales of the company’s STRC preferred stock. The remainder was funded with $72 million of sales of…
Onchain perpetual futures trading has cooled for five straight months since peaking in October 2025.Perp volume on decentralized exchanges (DEXs) fell to $699 billion in March 2026 from October’s $1.36 trillion, according to DefiLlama data.The decline has been steady across the period, with volumes slipping through November and December before losses extended through the first quarter of 2026. Daily activity also shows signs of softening. On April 4, perp DEX volume fell to $8.4 billion, the first time it dropped below $10 billion since Sept. 6, 2025. This also marks the lowest level since July 5, 2025, according to DefiLlama. The trend…
With Bitcoin trading near $69,000, Strategy is sitting on an unrealized loss on its large cryptocurrency holdings, yet the company’s founder shows no sign of pulling back. Related Reading Saylor’s Orange Dot Returns Michael Saylor posted what followers recognized immediately: the orange dot chart his company uses to signal a fresh round of Bitcoin buying. The post, shared on X over the weekend, came with a simple caption — “back to work” — after Strategy sat out the previous week without making a single purchase. The company is expected to confirm the exact amount acquired when it releases its weekly…