⚡️Crypto News Digest: Key Updates You Need to Know
The current report features updates of Bitcoin, Huma Finance, Cetus, Sui, USD1, Sonic, IOTA, Kraken, FIFA, OKX, Binance Alpha, Sophon, and Vaneck.
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David Sacks, the White House crypto and AI czar, has expressed confidence that the GENIUS stablecoin bill will pass with bipartisan support.
Speaking in an interview at CNBC’s Closing Bell yesterday, Sacks emphasized that the stablecoin legislation, currently under deliberation in the Senate, will soon become a law. He noted that the significant bipartisan support for the bill has fueled the expectation that it will pass.
GENIUS Act Approval Almost Certain: Crypto Czar
The Guiding and Establishing National Innovation for US Stablecoin (GENIUS) bill recently advanced in the US Senate after an initial scare. On Monday, 16 Democrats voted in support of the bill, pushing it past the 60-vote threshold required to move the legislation for final passage.
The positive development followed a bipartisan effort, led by Senator Cynthia Lummis and Bill Hagerty, to avoid a repetition of the May 8 pushback. With the bill failing to advance at the first trial amid Democrats’ rebellion, these senators spearheaded the legislation amendment to address some of the concerns raised.
Meanwhile, Monday’s voting outcome has fueled Sacks’ expectations that the stablecoin legal framework legislation will receive bipartisan senatorial approval. He told CNBC that the 66-32 polling results averted a possible filibuster and demonstrated an agreement by both Democrats and Republicans on the passing of the GENIUS Act.
Stablecoins to Boost US Treasury Demand
Furthermore, Sacks stated that another reason behind his confidence that the bill will pass is the possible impact of stablecoin adoption on the US economy. The crypto czar stressed that the real-world asset-pegged cryptocurrency offers America a modern, faster, and cost-effective payment rail.
Moreover, the stablecoin legislation would also extend the US dollar’s dominance globally. Earlier descriptions from Sacks suggest that the dominance of dollar-pegged stablecoins would fuel the demand and utility of the leading fiat currency, extending dependence on the US dollar online...
#CryptoNewss
$AVAX /USDT Gaining Momentum—Bulls Still in Charge!
Current Price: $25.33 | 24h High: $25.43 | Daily Gain: +6.61%
AVAX is moving strong just as expected! After bottoming out at $21.26, price surged sharply to hit $25.43, confirming our bullish outlook. The uptrend is clean, the volume is holding, and buyers are clearly in control.
If this momentum continues, we’ll soon be posting that 2-3x winning update we mentioned earlier.
Next targets: $27.50 and $30.00 in sight!
Hold steady—this breakout might just be getting started.
#AVAX #CryptoSignals #BullishTrend
Buy and Trade here on $AVAX
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