senate

Big Breaking News
🔥In a stunning pivot reminiscent of strategic defense funding battles, Binance has received a monumental boost from Congress, reversing initial budgetary constraints reminiscent of the Pentagon's near-freeze on the F/A-XX fighter program. While the Pentagon's fiscal 2026 budget originally proposed a minimal allocation of $74-76 million, lawmakers have stepped in decisively for Binance, reflecting the U.S.'s burgeoning commitment to cutting-edge digital asset innovation.

🔍The #Senate Appropriations Committee has propelled a whopping $1.4 billion forward for initiatives aligning with Binance’s vision of cryptocurrency infrastructure, closely mirrored by a $972 million proposal in the House—numbers echoing the Navy’s own $1.4 billion request on its Unfunded Priorities List. This bipartisan congressional backing signals a powerful momentum in national cryptocurrency policy, akin to the bold support for sixth-generation fighter tech ensuring air and sea dominance.
🇺🇸Vice Admiral Daniel Cheever’s words at the recent Tailhook Symposium resonate profoundly beyond military air superiority: “Sixth-generation means air superiority... as long as you have air superiority, you have sea control around the globe.” In the arena of digital finance and blockchain, Binance’s push for technological superiority translates into geopolitical and economic control in the era of decentralized assets and strategic Bitcoin reserves.
#As the best #crypto giant navigates regulatory headwinds, this massive infusion of congressional support could be the game-changer needed to secure a dominant strategic position in the rapidly evolving digital economy battlefield. With Binance eagerly awaiting key partnerships and regulatory clarity, this funding push marks a historic juncture—a crypto "sixth generation" leap toward unmatched innovation and long-term economic impact.
🌞This breakthrough marks a transformative moment in U.S. digital asset policy, positioning Binance at the forefront of a strategic national movement paralleling military advancements for global dominance and security.
$BTC $SOL $KAVA
#cryptouniverseofficial
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The U.S. Senate is ready to pass a stablecoin regulation bill, while Ethereum and Bitcoin are almost gone from exchanges. Could this be the bull run and mass adoption?

Economy, macro news:
- The U.S. Senate voted to advance a stablecoin bill, which will now go to discussion.
Let’s briefly cover the key points:
Issuers with a total stablecoin issuance under $10 billion can be regulated at the state level, provided the state has the appropriate regulatory infrastructure. Larger issuers exceeding this threshold will fall under federal regulation, likely ensuring stricter oversight.The law includes new consumer protection measures aimed at ensuring transparency, safety, and stability of stablecoins. This includes requirements for reserve assets and reporting to minimize risks for users.Strict eligibility criteria for the IT sector, plus a ban on special individuals in public service issuing stablecoins. Elon Musk can’t create MuskUSD while involved in public service.

What’s happening with our crypto market:
- Exchange reserves have dropped to 4.9% for $ETH and 7.1% for $BTC .
This indicates growing confidence among traders and investors, with more people betting on the long-term prospects of $ETH and $BTC . For $ETH , this is the first such drop in history, while for Bitcoin, it’s a record low, reminiscent of November 2018.
- The stablecoin bill’s passage could catalyze broader cryptocurrency integration into the traditional financial system. This might lead to new products and the use of stablecoins in everyday payments. For us, this is already a familiar reality, but many people are still unaware of the convenience of USDT transfers.
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$BTC
- However, the law’s consequences are concerning. Could the U.S. later crack down on DeFi companies, as seen with token launches that made U.S. citizens sanctioned by many projects, denying them airdrops? The legal framework and practice differ, but it’s worth considering.
#USGovernment
#senate
#BinanceHODLerSOPH
#WhaleJamesWynnWatch #BTC

U.S. Senator Bob Menendez (D-NJ), known for his vocal criticism of cryptocurrencies, has been convicted of accepting bribes in exchange for leveraging his political influence.
Details of the Conviction
On Tuesday, a jury found Menendez guilty of all charges, including 16 counts related to a scheme where he accepted bribes, such as gold bars and a Mercedes-Benz, in return for assisting foreign governments. Menendez, who formerly chaired the powerful Senate Foreign Relations Committee, now faces the possibility of decades in prison.
Reaction from the Crypto Community
The conviction has sparked reactions from the crypto community, highlighting the irony of Menendez's anti-crypto stance in light of his criminal activities. The Senator had previously labeled Bitcoin as an "ideal choice for criminals" and co-sponsored the “Accountability for Cryptocurrency in El Salvador (ACES) Act.” This bill sought to mandate the State Department to report on potential risks to the U.S. financial system from El Salvador’s adoption of Bitcoin as legal tender.
Stacy Herbert, a member of El Salvador's National Bitcoin Office (ONBTC), pointed out the contrast between Menendez’s actions and President Nayib Bukele’s administration. "While Senator Bob Menendez was hiding bars of ill-gotten gold he had received as bribes, President Bukele was establishing the most transparent government in the world by posting El Salvador’s public bitcoin address for all the world to audit," Herbert said.
Menendez's Response and Political Implications
Despite the conviction, Menendez maintained his innocence and asserted his patriotism outside the courthouse. "I have never been anything but a patriot of my country and for my country. I have never, ever been a foreign agent," he declared.
Menendez has become the first sitting member of Congress to be found guilty of acting as a foreign agent. Despite pressure from senior colleagues, including Democratic Senate Majority Leader Chuck Schumer, Menendez has refused to resign from his position. His sentencing is scheduled for October 29, and he could face decades in prison for his crimes.
U.S. Attorney Damian Williams commented on the conviction, stating, "This wasn’t politics as usual; this was politics for profit. Because Senator Menendez has now been found guilty, his years of selling his office to the highest bidder have finally come to an end."
Broader Context and Industry Reactions
Earlier this month, former United States Solicitor General Donald Verrilli accused federal regulators of targeting the cryptocurrency industry through a campaign of "debanking." Verrilli represented the Blockchain Association in support of Custodia Bank’s appeal to the U.S. Tenth Circuit Court of Appeals. Custodia Bank, which applied for a master account in October 2020, filed a lawsuit against the Federal Reserve in June 2022 for "unlawful delay" in processing its application. The Fed rejected Custodia’s request in 2023, citing the bank’s connections to the cryptocurrency space.
#crypto #bribe #senate

Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“

A #US government shutdown won't be as bad for crypto as it might have been in previous years, but it will further delay already-stalled initiatives.

The narrative
The U.S. government seems headed toward a shutdown. While that won't directly affect #crypto , the reverberations from the government shutting down will affect policymaking in the crypto world.

Why it matters
There are three major questions right now when it comes to market structure legislation: Will Congress pass a bill; when might Congress pass a bill; and how will a government shutdown affect this process? 
 
Beyond just Congress, a shutdown might affect regulators' rulemaking efforts, though that may not be as big an issue at the moment (depending, of course, on how long the shutdown lasts).

Breaking it down
#Congress has until Sept. 30, 2025 — in other words, Tuesday — to pass a budget bill, or at least a continuing resolution that would keep funding the government. Republicans control the White House, House of Representatives and Senate, but they still need some Democrat support to move a budget bill. Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jefferies seemed set to meet and negotiate with President Donald Trump, but Trump canceled the meeting earlier this week. And on Friday, Punchbowl News reported that the House of Representatives' leadership might not bring the body back into session at all until the #Senate passes a bill. 
 
A shutdown will likely slow down progress on crypto market structure legislation. The chances of market structure making it through Congress and to the president's desk this year are already growing slim even without the looming shutdown threat, according to multiple people I spoke to this week. A planned markup hearing for the Senate Banking Committee's draft bill was pushed from its tentative Sept. 30 date to late October, and the Senate Agriculture Committee has yet to publish any draft legislation. Any bill addressing market structure would need support from both committees before it moved to the overall Senate and then the House of Representatives.  
 
The individuals said they still expected to see progress next year, if Congress isn't able to move the market structure bill through the Senate and House before Dec. 31. 
 
These chances, however, grow more slim in the face of a shutdown. Locking up the federal government is often remedied with quick, short-term spending deals that only push the drama a few weeks or months further down the road and promise future congressional tie-ups.
 
If the government does shut down, the Senate committees may have to push back plans for a markup, said Blockchain Association Senior Director of Government Relations Jessica Martinez. 
 
"While there has been good faith negotiation on both sides, a shutdown would stall critical progress on crypto policy," she said in a statement. "Despite a possible delay, our leaders in Congress are committed to getting bipartisan market structure legislation across the finish line."
 
Kristin Smith, the president of the Solana Policy Institute, said she was optimistic that the legislation would continue to receive bipartisan attention, saying that a shutdown would be a "setback, but it's clear [lawmakers] remain committed" to passing a market structure bill. 
 
Senator Kirsten Gillibrand (D-N.Y.), speaking at CoinDesk's Policy and Regulation event earlier this month, has already tried to tamp down expectations that Congress had to act by the end of September, a deadline previously set by Senate Banking Committee Chair Tim Scott. 
 
"I don't want to put an artificial deadline on anything, because we're in the middle of negotiations about whether we're going to have a bipartisan budget," she said. "The most important issue that Congress has to deal with right now is the fiscal cliff on September 30. That is a much more important deadline that the entire country is relying on … I really urge you, please don't give market structure an artificial deadline, because it is so important for this industry that we get this right and that we do it on a bipartisan basis."
 
The bright spot for the crypto industry may come from the regulators. While the federal regulators — the Securities and Exchange Commission, Commodity Futures Trading Commission and Treasury Department entities — will all have to stop anything non-critical, a lot of the ongoing rulemaking efforts have already been set in motion. Some of these efforts are in the public comment phase.
 
Didier Lavallee, the CEO of Canadian firm Tetra Digital, said in a statement that a shutdown might affect #SEC Chair Paul Atkins' agenda "in the medium term," but the momentum around crypto policymaking still enjoys bipartisan support. 
 
"So while there may be short-term delays in policy timelines, it’s unlikely to fundamentally derail progress in the long run," he said.

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