Crypto

Stablecoin legislation has regained traction on Capitol Hill as Republican Bill Hagerty and Democrat Angela Alsobrooks have driven bipartisan talks on the GENIUS Act. The plan would mandate cash-backed reserves, audited data and federal oversight, with a vote targeted before Memorial Day. The post Stablecoin Bill Gains Steam on Capitol Hill amid Trump-Linked Crypto Firestorm appeared first on Cryptonews.

Spanish law enforcement has dismantled a sprawling underground financial network that allegedly laundered more than €20 million through crypto transactions for organized crime groups based in China and the Arab world, local media reported on May 14. The criminal ring, which police described as one of the largest clandestine crypto-banking operations uncovered in Europe, operated […] The post Europol, Spanish police dismantle ‘mafia crypto bank’ laundering funds across continents appeared first on CryptoSlate.

The 27-year-old was appointed chairman of Cantor Fitzgerald in February, shortly after his father was named Commerce Secretary by U.S. President Donald Trump.

“There is no investigation into us, as is unambiguously clear at this point,” Anchorage Digital CEO Nathan McCauley said on Wednesday at Consensus 2025 in Toronto.

The miner has been investing in pivoting to high-performance computing and expanding its US presence. Bitfarms clocked a first-quarter net loss of $36 million, widening from a $6 million loss in the same period a year earlier, as the Bitcoin miner pivots from mining to high-performance computing for artificial intelligence applications.  The miner posted $67 million in sales for the quarter ended March 31, up 33% from the year prior. However, gross profit margin for Bitfarm’s mining operations declined to 43% from 63% year-over-year, the company said in its first quarter earnings release.  The lower margins reflect pressure from Bitcoin’s (BTC) April 2024 “halving” as well as volatility in Bitcoin’s price. Halvings occur every four years and cut the number of BTC mined per block in half, reducing Bitcoin miners’ profitability.  Read more

The Bitcoin pioneer and Blockstream boss thinks BTC is undervalued.

UBS has reported that Asia’s billionaires have reduced reliance on the U.S. Dollar, directing funds toward cryptocurrencies, gold and Chinese sectors. Declining reserve dominance, tariff détente and expanding digital wealth tools have supported a 25 % gold rally and deeper allocation to Bitcoin. The post Asia’s Richest Ditch U.S. Dollars for Crypto, Gold and Chinese Assets, UBS Reveals appeared first on Cryptonews.

The latest reserve snapshot shows Binance holds 616,886 BTC, surpassing user balances by more than 12,000 BTC.

Futures have become the leading price discovery vehicles in the crypto markets, and Solana’s YTD tape clearly supports this. After spending most of 2024 unloading risk, taker flows on Solana’s perpetual futures flipped directions in the second half of January. On Jan. 18, the 90‑day cumulative volume delta (CVD) reached a low of −261.75. Since […] The post Solana derivatives flip long for 83 straight days, yet SOL sits nearly 30% below peak appeared first on CryptoSlate.

World Foundation Advisor Liam Horne spoke Wednesday at Consensus 2025.

Adrienne Harris says the financial services regulator she runs takes a “tough but fair" approach to digital asset companies. Adrienne Harris, the head of the New York State Department of Financial Services (NYDFS), said New York has an “outsized role to play” in the crypto ecosystem, particularly in shaping regulatory frameworks for digital assets. During a panel on May 14 at Consensus 2025 in Toronto, she said the NY estate is frequently asked to provide guidance on regulators. “With respect to federal regulation and legislation [...] members of Congress are often coming to us [NYDFS] asking about our process, about our regulations, about guidance, how they should be thinking about legislation,” Harris said. According to Harris, the NYDFS was “unnecessarily tough” and lacked resources in the past. Now, under her purview, she said the NYDFS is “tough but fair,” noting that the digital currency oversight team has since doubled in size. Read more

Shares of the stock and crypto trading platform had priced nicely above their expected offering price.

Stablecoin giant Tether's new QVAC AI platform takes aim at Big Tech and lets agents run independently, transacting in Bitcoin and USDT.

Coinbase CEO Brian Armstrong said the Senate could reconsider a vote on the GENIUS Act "hopefully tomorrow" after it initially failed on May 8. Crypto founders headed to Washington, DC, to meet with lawmakers ahead of another expected vote on a stablecoin bill that initially failed in the Senate, according to Coinbase CEO Brian Armstrong. In a May 14 X post from the US Capitol rotunda, Armstrong said as many as “60 [crypto] founders” had gathered in DC to support the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, being considered in the Senate and a draft of the market structure bill moving through the House of Representatives. The Coinbase CEO said the Senate could consider another vote on the GENIUS Act “hopefully tomorrow” after it failed to get enough support from Democrats on May 8. Read more

Also: Bitcoin DeFi Blossoms, Fusaka Planning Begins, and Telegram Cracks Down on Crypto Crime Marketplace

Hoskinson said being rich lets him ignore VCs and “do [stuff] on principle” like giving away Midnight tokens in a massive multi-chain airdrop to retail users only.

JPMorgan has completed a groundbreaking pilot transaction that bridges traditional finance and blockchain in collaboration with Ondo Finance and Chainlink. According to a May 14 statement, the banking giant’s blockchain unit, Kinexys, successfully executed a cross-chain atomic settlement using Ondo Finance’s tokenized short-term US Treasury product, OUSG. This marks the first time Kinexys has connected its permissioned […] The post JPMorgan bridges blockchain and traditional finance in landmark pilot transaction appeared first on CryptoSlate.

The CEO and founder of the crypto VC firm advised investing in a wide spectrum of tokens and venture equity.

The Blockchain Association has confirmed that CFTC Commissioner Summer Mersinger will leave the regulator on May 30 and assume the CEO role on June 2, replacing Kristin Smith and bringing two decades of Capitol Hill and agency experience to the crypto lobby’s final push for fit-for-purpose legislation. The post Blockchain Association Chooses CFTC’s Summer Mersinger to Lead High-Stakes Crypto Lobbying appeared first on Cryptonews.

Commodity Futures Trading Commission (CFTC) Commissioner Summer Mersinger will depart the agency on May 30 to become the Blockchain Association’s new CEO, effective June 2, according to a May 14 announcement. The announcement states that Mersinger’s appointment comes at a critical legislative moment for digital assets in Washington, where the Blockchain Association is pushing for […] The post Former front-runner for CFTC chair role resigns to lead Blockchain Association appeared first on CryptoSlate.