Coinbase legal chief Paul Grewal says US lawmakers are nearing agreement on the CLARITY Act, with a Senate markup expected soon. Coinbase chief legal officer Paul Grewal said the US Digital Asset Market Clarity Act is “moving toward” a markup hearing in the US Senate Banking Committee and could eventually move to a floor vote if senators resolve the stablecoin yield dispute and schedule a markup. Speaking in a Wednesday interview on Fox Business, Grewal said lawmakers are nearing agreement on core elements of the crypto market structure bill, even as debate continues over stablecoin yield. “I think we’re very close to a deal,” he said. The remarks point to possible movement on one of the last major sticking points in Senate talks over crypto market structure legislation: whether stablecoin issuers or platforms should be allowed to offer yield or similar rewards. The dispute has helped delay a Senate Banking Committee markup, leaving the broader effort to set federal rules for digital asset oversight still unr...
XRP price charts remained bearish amid increasing signs that the $1 level could be tested as support in the coming weeks. XRP (XRP) traded 64% below its multi-year peak of $3.66 on Thursday, as more signs of a potential deeper correction toward $1 emerged. Key takeaways: XRP faces stiff resistance above $1.40, where more than 1.1 billion tokens were previously acquired. Read more
Bitcoin fell on fresh US-Iran cues, while analysis warned that a resurgent US dollar could spark new lows across crypto and risk assets. Bitcoin (BTC) saw another $69,000 rejection on Thursday as risk-assets suffered over US-Iran war headlines. Meanwhile, one trader warned that a strengthening dollar “will send crypto and stocks to new lows.” Key points: Bitcoin faces fresh downside pressure as stocks and gold fall on US President Donald Trump’s address to the nation. Read more
Singh faced legal action from the SEC, CFTC and US Department of Justice after FTX collapsed in November 2022 but avoided significant prison time by cooperating with authorities. Nishad Singh, the former head of engineering at FTX, will pay $3.7 million to resolve his case with the US commodities regulator over his role in the collapse of the crypto exchange and the misappropriation of user funds. As part of the supplemental consent order, Singh will be required to pay a disgorgement of $3.7 million, while a five-year ban on trading in markets and an eight-year registration ban are imposed, blocking him from obtaining a license to operate in the sector, the US Commodity Futures Trading Commission (CFTC) said in a statement on Wednesday. “The initial consent order and supplemental consent order resolve the CFTC’s enforcement action against Singh,” it added. Read more
The legislation “embraces innovation, protects participants and empowers internet-native communities to compete with big tech incumbents,” said a16z’s Miles Jennings. The US state of Alabama has become the second US jurisdiction after Wyoming to grant decentralized autonomous organizations (DAOs) legal status under the DUNA Act. The Decentralized Unincorporated Nonprofit Association (DUNA) Act (Senate Bill 277) was introduced in February by Republican Senator Lance Bell. The House passed it 82-7 with 16 abstentions on March 17, and has now been signed by Alabama Governor Kay Ivey, according to a16z Crypto. Speaking about the bill’s passage, a16z Crypto’s head of policy and general counsel, Miles Jennings, said on Wednesday that “decentralized governance is essential to crypto’s future — it’s one of the core constructs in market structure legislation.” Read more
As part of the offering, Paradigm is also exploring an internal market-making desk for prediction market trading and a prediction market index. Crypto-focused venture capital firm Paradigm is reportedly building a prediction markets terminal, joining a wider push by exchanges, brokers and crypto firms into prediction markets. Led by Paradigm partner Arjun Balaji, the prediction market offering will cater to professional traders and market makers, Fortune said in a report on Wednesday, citing sources that said they started working on the project in late 2025. Paradigm’s offering adds to a growing list of companies looking to offer access to prediction markets, which some forecast could reach $1 trillion in annual volume by the end of the decade. Read more
An IPO and valuation above $1.75 trillion would make SpaceX a top-10 public company by market capitalization, above the likes of Meta and Tesla. Elon Musk’s aerospace company SpaceX has reportedly filed confidentially for an initial public offering, moving it closer to what could be the biggest public listing in US history. SpaceX submitted its IPO confidentially to the US Securities and Exchange Commission, according to a report from Bloomberg on Wednesday, citing people familiar with the matter. The IPO could be finalized as early as June, the sources said. SpaceX could seek a valuation exceeding $1.75 trillion in the IPO, sources told Bloomberg in February. A valuation of that size would make the aerospace company more valuable than Meta (META), Tesla (TSLA) and Bitcoin (BTC). Read more
According to the company CFO, Bithumb was “strengthen[ing] accounting policies and internal controls” ahead of its IPO plans, already delayed from 2025. South Korea-based cryptocurrency exchange Bithumb is reportedly expecting its initial public offering (IPO) sometime after 2028, in another delay after restructuring and regulatory hurdles. According to a Tuesday report from Maeil Business News Korea, a Bithumb official said that it would “focus on preparing for the listing until 2027.” CFO Jeong Sang-gyun said at the company’s annual shareholder meeting that Bithumb was “strengthen[ing] accounting policies and internal controls” following an IPO advisory contract with Samjong KPMG. Shareholders reconfirmed CEO Lee Jae-won for a two-year appointment at the Tuesday meeting, but the delayed IPO timeline was the latest after Bithumb initially expected a 2025 listing. Under Lee, the exchange faced a six-month suspension and a $24 million fine from South Korean authorities for alleged anti-money-laundering violati...
The Treasury published its notice of proposed rulemaking as the market capitalization of dollar-pegged stablecoins neared $300 billion. The US Department of the Treasury issued a notice of proposed rulemaking (NPRM) on Wednesday and is seeking public comment on proposed regulations for state-level stablecoin governance frameworks under the GENIUS Act. The GENIUS stablecoin regulatory framework, also known as the “Guiding and Establishing National Innovation for US Stablecoins Act,” gives states the authority to regulate stablecoins with a market cap of less than $10 billion, as long as the regulations do not deviate significantly from federal policies. The Treasury outlined several non-negotiable stablecoin regulations that must be in line with Federal regulations, including a 1:1 reserve backing with cash or high-quality cash equivalents and monthly reporting requirements. States must also comply fully with federal anti-money laundering and sanctions policies for stablecoins, while upholding bans on token r...
A Hyperliquid DEX whale has placed an $80 million bet that Bitcoin will crash and oil will rally, but data show this trader has lost millions in the past. Key takeaways: A Hyperliquid whale placed an $80 million bet against Bitcoin and the S&P 500 while going long on Brent crude oil prices. The whale’s history of massive losses and inconsistent signals suggests the trade could fall on the wrong side of the market. Read more