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STABLE Act clears committee, advancing stablecoin regulation.
GENIUS Act supports blockchain with tax incentives, grants. Bicameral committee drafts crypto market structure laws. Cetus hack highlights need for robust blockchain oversight.U.S. aims to lead global crypto regulation with new bills.
#StablecoinRegulation #BlockchainLegislation #CryptoOversight #STABLEAct #GENIUSAct
Washington is accelerating efforts to regulate cryptocurrencies, with new legislation targeting stablecoins and blockchain technology. Recent developments indicate a bipartisan push to establish clear rules for digital assets, addressing long-standing concerns in the crypto industry. Lawmakers are focusing on stablecoin oversight and blockchain innovation, aiming to balance consumer protection with technological advancement.

The House Financial Services Committee and Senate Banking Committee are leading the charge, prioritizing bills that could reshape the crypto landscape. These efforts reflect a growing recognition of digital assets’ role in the global economy.

Stablecoin Regulation Takes Center Stage

The STABLE Act, a key legislative proposal, cleared a critical House Financial Services Committee vote. This bill aims to create a comprehensive framework for stablecoins, digital currencies pegged to assets like the U.S. dollar. It addresses issues like issuer transparency and reserve requirements to ensure stability and user trust.
A separate Senate bill, under review by the Banking Committee, seeks to clarify regulatory oversight for stablecoins. It proposes splitting responsibilities between the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC). This division aims to streamline compliance for issuers and platforms.

Stablecoin legislation is seen as a foundation for broader crypto regulation. Lawmakers emphasize that clear rules could foster innovation while curbing risks like fraud and market volatility. The bills are expected to advance to full Senate consideration soon, with potential votes scheduled in the coming weeks.

Industry leaders have welcomed the progress. A source close to the Senate Banking Committee stated, “Stablecoin rules are a critical first step to legitimize digital assets.” The focus on stablecoins aligns with their growing use in payments and decentralized finance (DeFi).

Blockchain Innovation and Broader Crypto Oversight

Beyond stablecoins, Congress is exploring blockchain-specific legislation. The GENIUS Act, gaining traction in the Senate, aims to support blockchain development through tax incentives and research grants. This bill recognizes blockchain’s potential in sectors like supply chain management and data security.

The bicameral committee, formed by House and Senate members, is also drafting market structure legislation. This framework would address crypto exchanges, custody solutions, and cross-chain interoperability. The goal is to create a cohesive regulatory environment that encourages innovation while protecting investors.

Recent events, like the $220 million Cetus hack on the Sui blockchain, underscore the need for robust oversight. The exploit, which targeted a leading decentralized exchange, highlighted vulnerabilities in smart contracts and oracle systems. Validators froze most stolen funds, but the incident sparked debates about decentralization and security.

Recent events, like the $220 million Cetus hack on the Sui blockchain, underscore the need for robust oversight. The exploit, which targeted a leading decentralized exchange, highlighted vulnerabilities in smart contracts and oracle systems. Validators froze most stolen funds, but the incident sparked debates about decentralization and security.

Lawmakers are also eyeing interoperability standards, inspired by projects like Chainlink’s CCIP, which enables cross-chain asset transfers. These standards could enhance blockchain efficiency and reduce risks in DeFi ecosystems

Global competition is driving urgency. Countries like Switzerland are advancing crypto-friendly policies, prompting U.S. legislators to act swiftly. A proposed bill to counter foreign surveillance laws could further protect blockchain projects operating in the U.S.

The momentum in Washington signals a shift toward embracing digital assets. With over 125 crypto-related bills introduced this year, the U.S. is positioning itself as a leader in blockchain innovation. The coming months will be critical as these proposals move toward final votes.

Binance removes USD1 withdrawal fees on BNB Smart Chain.
USD1 listed on Binance for trading on May 22, 2025.BNB Smart Chain hosts 90% of USD1’s total supply.Fee-free withdrawals aim to boost USD1 adoption.USD1 offers faster settlements and deeper liquidity.

CZ denies acting as a fixer for Trump-linked World Liberty Financial.
WSJ report on crypto dealings contained factual errors, Zhao says. Zhao rejects claims of seeking a pardon from Trump administration. Binance has no business ties with World Liberty Financial. Crypto industry faces scrutiny amid shifting U.S. regulations.
#ChangpengZhao #Binance #Trump #WorldLibertyFinancial l

Binance founder Changpeng Zhao has publicly rejected claims from a recent Wall Street Journal article suggesting he acted as a fixer for World Liberty Financial, a crypto project tied to U.S. President Donald Trump. Zhao took to X to dismiss the allegations, asserting the report contained factual errors and biased assumptions. The article claimed Zhao facilitated connections for the Trump-affiliated venture during international trips, including a visit to Pakistan that led to a memorandum of understanding with a local official.
Zhao denied any involvement in connecting tech entrepreneur Bilal bin Saqib with the World Liberty Financial team. “The WSJ’s questions were based on wrong and negative assumptions,” Zhao stated on X, emphasizing that he and his team pointed out multiple inaccuracies in the report. He described the article as part of a broader effort to undermine cryptocurrency growth in the U.S.
Zhao Rejects Fixer Role

The WSJ report alleged Zhao played a key role in arranging meetings for World Liberty Financial, a decentralized finance project linked to Trump’s sons, Eric and Donald Jr. It suggested Zhao’s actions were an attempt to gain favor with the Trump administration, particularly as he seeks a pardon for his 2023 money laundering conviction. Zhao served four months in prison in 2024 after Binance reached a $4.3 billion settlement with U.S. authorities for violating the Bank Secrecy Act.
“I am not a fixer,” Zhao wrote on X, refuting claims of facilitating deals for World Liberty Financial. He clarified that he had no role in any introductions or agreements, including the reported Pakistan deal. Zhao’s conviction stemmed from failing to maintain an effective anti-money laundering program at Binance, leading to his resignation as CEO. Despite serving his sentence, he remains a prominent figure in the crypto industry.
The WSJ article also raised questions about potential overlaps between diplomatic efforts and private crypto ventures. It noted that Steve Witkoff, a co-founder of World Liberty Financial and U.S. Special Envoy to the Middle East, was involved in securing a $2 billion crypto deal. Zhao dismissed these claims, arguing the report was built on a flawed narrative designed to portray crypto negatively.
Broader Context of Crypto Scrutiny
World Liberty Financial has drawn attention for its ties to Trump and its USD1 stablecoin, launched in March 2025. The project raised over $600 million in token sales, with investors like Tron founder Justin Sun among its backers. Sun, who attended a Trump-hosted memecoin dinner on May 22, 2025, was named in the WSJ report as a key figure. The article suggested Zhao’s actions might be linked to seeking a pardon, a claim he firmly denied.
Zhao’s response aligns with his history of challenging media narratives. In April 2025, he criticized a WSJ report alleging he agreed to testify against Sun as part of his plea deal. “People who become government witnesses don’t go to prison,” Zhao stated, dismissing the claim as a smear campaign. Sun also defended Zhao, calling him a mentor and rejecting the allegations as baseless.
The crypto industry faces ongoing regulatory scrutiny in the U.S. The Securities and Exchange Commission paused several enforcement actions against major crypto firms, including Binance, following Trump’s inauguration in January 2025. This shift has sparked speculation about a more favorable regulatory environment under the current administration. However, concerns persist about potential conflicts of interest, particularly with Trump’s involvement in World Liberty Financial.
Zhao’s public statements aim to set the record straight. He emphasized that Binance has no business dealings with World Liberty Financial or its affiliates. The controversy highlights the complex interplay between crypto, politics, and regulation, with figures like Zhao at the center of the debate.

ETH trades at $2,551.29, down 3.85% daily, 34.91% yearly. BTC drops to $108,115.02, declining 4.21% in seven days.Trump’s 50% EU tariff starts June 1, impacting crypto prices. ETH surged to $2,731 but crashed after tariff news. Technical analysis predicts a potential short squeeze for ETH, BTC.
#Ethereum #bitcoin #TrumpTariffVsCrypto #MarketVolatility
Ethereum (ETH) and Bitcoin (BTC) faced sharp declines on May 23, 2025, following the announcement of new tariffs by President Trump. The crypto market experienced significant volatility as investors reacted to the news.
ETH is currently trading at $2,551.29, down 3.85% in the last 24 hours. Despite a 41.12% gain over the past month, ETH has dropped 34.91% year-over-year and 2.67% in the last seven days. Earlier today, ETH surged to $2,731 but crashed after the tariff news broke.
BTC also took a hit, falling below $110,000. It now trades at $108,115.02, down 4.21% over the past day. The tariff announcement has triggered widespread selling pressure across the crypto market.
Trump’s Tariff Announcement Shakes Crypto Market
President Trump recommended a 50% tariff on the European Union, set to take effect on June 1, 2025. This decision has sparked concerns about global trade tensions and their impact on financial markets, including cryptocurrencies.
The tariff news reversed ETH’s earlier gains, pulling it down from its daily high. BTC, which had been trending near $111,951.87, also declined sharply after the announcement.
The crypto market has been sensitive to macroeconomic policies, and this development has intensified selling pressure.
Technical Analysis Signals Potential Short Squeeze

A technical analysis chart from Bitcoinsensus indicates that liquidity is accumulating in the crypto market. Top assets like Bitcoin and Ethereum are seeing an influx of early short positions, which could lead to a significant short squeeze.
The chart highlights a right-angled descending broadening wedge pattern for ETH, suggesting a potential breakout. Despite the current downturn, the technical setup indicates that a reversal could be on the horizon. However, the tariff policy’s broader economic impact may continue to influence market sentiment in the near term.

Coinbase data breach impacted 69,461 users’ personal information. Insiders bribed to leak names, addresses, and bank details. No funds or passwords stolen; Prime accounts unaffected. Coinbase offers $20M reward to catch attackers.Enhanced security and user reimbursements promised.
#Coinbase #DataTheftAlert #cybersecurity #insider threat
On December 26, 2024, Coinbase, a leading cryptocurrency exchange, suffered a significant data breach. Cybercriminals bribed rogue overseas support agents to access sensitive customer information. The breach, detailed in a Maine Attorney General filing, impacted 69,461 users, exposing names, addresses, and phone numbers.
The incident remained undetected until May 11, 2025. Coinbase confirmed that less than 1% of its monthly transacting users were affected. No passwords, private keys, or funds were compromised. Prime accounts remained secure.
How the Breach Occurred
Cybercriminals targeted Coinbase’s outsourced support team. They recruited agents through bribes, gaining unauthorized access to customer data. The stolen information was used to facilitate social engineering attacks. Attackers demanded $20 million in Bitcoin to withhold the data.
Coinbase refused the ransom. Instead, the company offered a $20 million reward for information leading to the attackers’ arrest and conviction. The breached data included sensitive details like government-issued IDs and bank information for some users.
The company identified and terminated the rogue employees. Legal consequences for those involved remain uncertain due to their overseas locations. Coinbase is working with authorities to investigate further.
Coinbase’s Response and User Impact
Coinbase acted swiftly upon discovering the breach. The company notified affected users and promised full reimbursement for any losses. Enhanced security measures are being implemented to prevent future incidents.
The Maine Attorney General’s filing highlighted the scale of the breach. It emphasized the risks of outsourcing sensitive operations. Coinbase assured users that no financial assets were stolen. The company is providing credit monitoring services to affected customers.
The breach raises concerns about data security in the cryptocurrency industry. Users are urged to remain vigilant against phishing attempts and social engineering scams. Coinbase has pledged to strengthen its internal controls.

#Bitcoin has reached a new all-time high of $111.86K. The cryptocurrency is up 0.48% in the last day, 7.16% over the past week, and 18.06% in the last month. Strong buyer dominance in the market points to the potential for further upward movement.
Data from on-chain analytics platform Glassnode shows a decline in Bitcoin's Mean Dollar Age. This metric tracks the average age of coins in circulation. A drop suggests that long-term holders are not selling, indicating confidence in future price increases.
Market conditions remained neutral earlier this year. Buyer dominance returned in May, aligning with Bitcoin's climb above $110,000. Analysts note that this trend could lead to another wave of price increases. The persistence of buyers at these levels supports a bullish outlook.

Long-Term Holders Show Confidence in Bitcoin

Glassnode data reveals that long-term Bitcoin holders are retaining their coins. Short-term traders are currently driving market activity. Realized profits remain lower than in previous cycles, suggesting reduced selling pressure from speculative investors.
This combination of factors indicates sustained bullish sentiment. Investors who have held Bitcoin for extended periods appear to expect further gains. The lack of significant profit-taking by these holders reinforces market stability at current price levels.

Bitcoin's 90-day cumulative volume delta (CVD) also favors bulls, according to CryptoQuant. This metric highlights stronger buying activity compared to selling. The data aligns with the price surge, which saw a 50% increase in under two months.

Market Dynamics Support Bullish Trend

Bitcoin's price surge contrasts with its first touch of $100,000 in 2024. Back then, buyer interest was less pronounced. Today, spot takers dominate exchange order books, reflecting heightened demand at all-time highs.
Hodlers have largely refrained from distributing coins at current levels. This behavior differs from typical market reactions during previous peaks. The reduced supply entering the market supports the potential for continued upward momentum.
The current rally follows a period of neutral market conditions. The reemergence of buyer dominance in May marks a shift. As Bitcoin tests levels above $110,000, the market appears poised for another upward wave.