Author: NBTC

The House Ways and Means Committee circulated seven draft bills ahead of this week’s hearing on crypto tax policy, signaling what the industry can expect. You’re reading State of Crypto, a CoinDesk newsletter looking at the intersection of cryptocurrency and government. Click here to sign up for future editions. The narrative The House Ways and Means Committee is the group of lawmakers tasked with writing laws governing taxes. While we’ve seen draft bills addressing taxes already, it’s this committee that’s really going to handle a hefty part of the work of drafting crypto tax legislation and shepherding it through the…

Exodus has launched a marketplace for tokenized assets through a partnership with Ondo Finance, allowing eligible users to trade more than 200 tokenized stocks, ETFs and other real-world assets on Solana directly from the crypto wallet. The company said Exodus Markets is available in select markets and that users can access the service by updating to the latest version of the app. Tokenized assets do not represent ownership of the underlying securities and do not provide shareholder rights, according to the announcement. Cointelegraph contacted Exodus to determine which jurisdictions are eligible for Exodus Markets but had not received a response…

Lava Network, a blockchain infrastructure protocol, has signed a preliminary agreement to help design a tokenization sandbox for Alba Bay, a planned Caribbean residential development of more than 40,000 units. Lava said it is the protocol’s first real-world asset mandate. BHL says the project will span nearly 40 million square meters, cost multiple billions of dollars and target construction starting in the first quarter of 2027. The arrangement is a non-binding memorandum of understanding, and BHL Group, the developer, pays Lava nothing upfront, the company said in written answers to questions from The Defiant. No units have been tokenized and…

Bitcoin ($BTC) circled $78,000 on Saturday after geopolitical headwinds erased most of its May gains. Key points: Bitcoin falls below $78,000 for the first time since the start of May. Oil-supply woes combine with existing nerves over US bond markets, adding to headwinds for risk assets. Support weakness has traders looking at $75,000 and under next, while optimists see a “bear trap” forming. Multiple hurdles “coming together” for crypto, risk assets Data from TradingView confirmed new lows of $77,614 on the day — the lowest levels since May 1. $BTC/USD one-hour chart. Source: Cointelegraph/TradingView Downside pressure stemming from concerns over…

The United States spot Ethereum ($ETH) exchange-traded funds recorded their highest daily cash inflow on Monday since May 5. The U.S. spot Ethereum ETFs registered a net cash inflow of $82.37 million on June 8, according to data from SoSoValue analyzed by Finbold on June 9. As such, the U.S. spot $ETH ETFs hold $9.36 billion in total assets at press time. Spot $ETH ETFs daily cash flow. Source: SoSoValue The notable shift in these funds was largely driven by BlackRock’s iShares Ethereum Trust (ETHA) and iShares Staked Ethereum Trust ETF (ETHB), which closed the day with combined inflows of…

While the benchmark S&P 500 index is overall almost 8% in the green in 2026 and close to its all-time highs ($ATH), there has been significant divergence between the performance of the various stocks contained within. For example, one of America’s largest companies, Microsoft (NASDAQ: MSFT), remains deeply in the red even after the April rally, and Nvidia (NASDAQ: NVDA) – a top performer ever since the artificial intelligence (AI) boom started with the original public release of ChatGPT – has been underperforming its own sector. Microsoft and Nvidia stock price YTD charts. Source: Finbold Indeed, the difference in the…

Traders are furious about Pump.fun’s decision to destroy nearly 36% of the $PUMP supply, or roughly $370 million, claiming their expected airdrops were essentially burnt. Parts of the community are now criticizing the platform for undercutting user expectations and rewards in what it presented as a trust-building tokenomics shift. The team claimed to have burnt all bought-back tokens to remove confusion and strengthen long-term trust in the ecosystem. It also introduced a programmed buyback-and-burn approach that will set aside 50% of future revenue for long-term development, infrastructure, and growth over the following year. The Pump.fun team said it prioritized repairing…

Senator Cynthia Lummis is ramping up pressure on lawmakers as the CLARITY Act enters what could be its most decisive stage yet. “The CLARITY Act passed committee. The floor is next. We did not come this far to quit at the 5-yard line,” Lummis wrote in a June 8 post on X, signaling that the crypto market-structure bill is now moving into a crucial Senate battle. The Clarity Act passed committee. The floor is next. We did not come this far to quit at the 5 yard line. — Senator Cynthia Lummis (@SenLummis) June 7, 2026 Her comments come as…

MoonPay is bringing heavyweight experience from Wall Street, Silicon Valley, Washington, and global payments onto its leadership team as the company continues expanding beyond crypto onboarding and into broader financial infrastructure. The company announced that former PayPal executive Jonathan Auerbach, veteran CFO Amy Butte, former VMware COO Mike Hayes, and former Sotheby’s CEO Tad Smith have joined its board and advisory roster. The appointments come during a period of rapid growth for MoonPay, which now serves more than 30 million customers across 180 countries and supports over 500 enterprise clients. Over the past year, the company has secured a New…

For years, privacy in transacting was one of crypto’s most ambitious promises. Then it took a back seat as other trends took off. As developers focused on scaling blockchains and regulators scrutinized privacy tools such as Tornado Cash, much of the industry’s attention shifted elsewhere. But a new Ethereum proposal and a growing number of privacy-focused products suggest the topic is making a comeback. The latest example is pERC-20, a proposed Ethereum token standard that would allow users to hold and transfer tokens without publicly revealing their balances, transaction amounts or counterparties. The proposal has sparked renewed discussion around whether…