Author: NBTC
The collapse of a procedural Senate vote on stablecoin legislation (GENIUS Act) Thursday underscores the challenges of keeping cryptocurrency policy bipartisan. Once poised for smooth passage, the bill was derailed after last-minute Democratic objections and a lack of time to review final text — despite ongoing negotiations with Republican leadership. The 48–49 vote, with two Republicans joining Democrats in opposition, highlights deepening divisions over process and trust. While both parties publicly support regulating digital assets, the vote raises questions about whether crypto can remain a nonpartisan issue in a polarized Senate. In March, blockchain and digital asset attorney Marta Belcher…
Crypto adoption is about to hit escape velocity as Meta, Stripe, and Ramp embrace stablecoins, setting the stage for a $10 trillion surge in digital asset integration, experts say. Stablecoins Hit Mainstream—Crypto Adoption Reaching Escape Velocity The accelerating shift toward stablecoin adoption reached a new milestone this week as Meta, Stripe, and Ramp each revealed plans to integrate stablecoins into their platforms. Bitwise Asset Management’s senior investment strategist Juan Leon addressed the developments on social media platform X on May 9, stating: The mainstreaming of stablecoins is about to unleash escape velocity for crypto adoption. The moves by these three…
Alpen Labs has introduced the bitcoin dollar (BTD), a bitcoin-collateralized stablecoin built on zero-knowledge rollup technology, aiming to provide a censorship-resistant alternative to centralized stablecoins. ZK Rollups Power Alpen’s New Bitcoin-Backed Stablecoin The bitcoin dollar (BTD) will operate as an over-collateralized stablecoin pegged to the U.S. dollar, using bitcoin ( BTC) as its sole backing asset. It will run on Alpen Labs’ zero-knowledge (ZK) rollup, a layer two (L2) Bitcoin scaling solution designed to minimize trust assumptions. Moreover, it will also leverage Liquity V2’s borrowing protocol to enable users to mint BTD against locked BTC without governance tokens or upgradeable…
Bitcoin SV (BSV) investors have asked the UK Court of Appeal to readmit their claim that Binance’s delisting of BSV in April 2019 caused them to lose out on significant growth in the value of their holdings. In July 2024, the Competition Appeal Tribunal struck out a particular element of the group’s complaint, which argued that the Binance delisting resulted in a “forgone growth effect,” preventing BSV from developing into a “top tier” cryptocurrency. It’s this particular claim that would allow for the highest possible financial penalty against Binance (above $13 billion), based on the assumption that BSV would have…
Vitalik Buterin, co-founder of the largest altcoin, Ethereum, proposed a plan to revamp the ETH blockchain. After months of criticism and allegations faced by the Ethereum Foundation, the 31-year-old entrepreneur addressed major concerns regarding the “complexity” of adding new developers to the blockchain platform. Ethereum (ETH) is home to $59.88 billion in total value of assets locked on its chain. Layer 2 and Layer 3 chains scaling Ethereum tackle the issue of user adop/REtion and scalability for the underlying blockchain, in exchange they derive security from ETH. Table of Contents Buterin plans to simplify Ethereum blockchain How Ethereum could battle…
This is a segment from the Blockworks Daily newsletter. To read full editions, subscribe. “You don’t need to be a rocket scientist. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.” — Warren Buffett Warren Buffett is the most quoted person in the history of this newsletter — a crowning achievement of his seven-decade career that must fill him with pride. I’ve quoted him so often because he has a lot to say about investing and markets, of course, but also because he expresses himself in folksy, quippy, metaphorical sound bites…
A prominent voice in the XRP community has stirred discussion with a daring take on the future of money. According to community commentator Pumpius, a global financial reset is underway and will only reward the select few holding XRP. This vision suggests that the next financial system will not reward those holding fiat or speculative cryptocurrencies. Instead, utility-driven tokens like XRP will become the new standard of value. In particular, Pumpius claimed 99% of the people “will be locked out” for holding “the wrong assets.” Meanwhile, he claimed the other 1% will be on the promising side for holding XRP.…
Donald Trump’s direct involvement in the cryptocurrency world is leading to major hurdles towards the realization of his crypto agenda. This week, the GENIUS Act, a significant piece of legislation to set up federal regulations for stablecoins, could not pass through the Senate. The reason for disagreement is the fear of conflicts of interest, especially concerning Trump’s crypto businesses, such as his meme coins. Bipartisan Support Undermined by Meme Coin Controversy The GENIUS Act had received bipartisan support, with both Democrats and Republicans acknowledging the need for stablecoin regulation. However, the support began to fade because of the $TRUMP meme…
On Wednesday, Bitcoin dominance surged to yet another multi-year high of 65.2%. The widely tracked metric has surged by 13.3% since the start of the year. In fact, Bitcoin dominance has now reached the highest level since early 2021. Bitcoin’s massive outperformance is mainly attributed to Ethereum’s weakness. The flagship cryptocurrency has lost 45% against Bitcoin during this year, and it is now on track to score its third year in the red. It is only 6% from reaching 71%, the level that has proven to be strong resistance for Bitcoin over the past few years. Rekt Capital, an anonymous…
Ethereum has broken past the $2,000 mark, setting $2,490 as its next resistance level. After months of weak sentiment and heavy selling pressure, Ethereum is taking back lost ground. The rally brings back optimism, particularly with the retracing of Bitcoin around its all-time high. However, traders are now concerned about whether it can sustain this upward momentum. Analyst Crypto Rover reported that the majority of Ethereum holders have capitulated. He congratulated those still holding, implying that significant gains were on the horizon. His words indicate increasing confidence in Ethereum’s capability to continue the current bullish trend. He also included a…