Core Viewpoint - The anticipated digital asset bill in the Senate has been delayed due to intense debates over stablecoin regulations, leading to growing anxiety in the cryptocurrency industry, which was previously optimistic following Trump's return to the White House [1] Group 1: Legislative Developments - The Senate Banking Committee postponed discussions on the digital asset bill, with Coinbase announcing its withdrawal of support for the latest version of the bill [1] - The bill includes provisions that would restrict cryptocurrency companies from offering yields or rewards on stablecoins held for users, which has faced strong opposition from platforms like Coinbase [1][4] - The delay raises concerns that the U.S. may lag behind other markets in establishing a regulatory framework for stablecoins, which have seen increased usage since the relevant legislation was passed last July [1] Group 2: Market Reactions - Following the news, Coinbase's stock fell by 4%, while shares of stablecoin issuer Circle and cryptocurrency platform Gemini dropped by approximately 5% [4] - The proposed ban on providing yields on stablecoins could disadvantage U.S. regulated cryptocurrency companies compared to their overseas counterparts, as the regulatory terms remain ambiguous [5] Group 3: Industry Perspectives - Executives express that restrictions on rewards could place U.S. cryptocurrency firms at a competitive disadvantage, as unclear regulations may lead to varied interpretations [5] - The unique nature of stablecoin reward mechanisms spans payment settlements, savings-like financial products, and market incentives, complicating the legislative process [4] Group 4: Broader Implications - The U.S. banking sector is cautious about the development of stablecoins, warning that interest-bearing stablecoins could divert traditional bank deposits [6] - Coinbase's strong opposition to the bill highlights the increasing influence of the cryptocurrency industry in Washington, with its CEO Brian Armstrong citing numerous issues with the bill [6] - Despite the delay, some industry experts believe the bill will eventually pass during the current administration, though the final form of the legislation remains uncertain [6]

Core Viewpoint - Coinbase CEO Brian Armstrong expressed concerns over a Senate crypto bill that he believes unfairly favors banks, suggesting that the industry should compete on a level playing field [1][4]. Group 1: Industry Concerns - Armstrong stated that many in the cryptocurrency industry share Coinbase's concerns regarding the legislation, emphasizing the negative impact on customers who may receive worse deals from banks due to the bill's provisions [1][2]. - The disagreement centers around whether stablecoin holders should receive reward payments, highlighting the conflict between banks and crypto firms [4]. Group 2: Legislative Actions - The Senate Banking Committee has postponed a vote on the crypto market structure legislation amid pushback from the industry, indicating significant opposition to the proposed bill [2]. - Armstrong felt it was necessary to advocate for customers and all Americans, reflecting the broader implications of the legislation [2]. Group 3: Banking Relationships - Despite the ongoing disputes, Armstrong acknowledged that some banks are adopting a positive approach towards digital assets and are engaging in partnerships with Coinbase for crypto and stablecoin infrastructure [6][7]. - He criticized the lobbying efforts of banks, suggesting they aim to eliminate competition rather than foster a collaborative environment [9].

Ripple has approved a new $150 million plan tied to a deal with UK-based trading group LMAX. The goal is to help more large financial firms use Ripple’s new dollar stablecoin, RLUSD, for everyday trading and settlement. XRP’s price barely moved after the announcement, which suggests traders saw this as a long-term business move rather than quick trading news. It also lines up with what a lot of banks and institutions want right now, blockchain tools that actually fit into how real financial markets alread ...

Core Viewpoint - A significant conflict is emerging between traditional finance (TradFi) and decentralized finance (DeFi), with Multicoin Capital's co-founder Kyle Samani criticizing TradFi's attempts to maintain control over financial markets as blockchain finance evolves [1][2]. Group 1: Traditional Finance vs. Decentralized Finance - Samani strongly opposes the MSCI's consideration to exclude companies with over 50% of their treasury in digital assets from its indices, viewing it as an effort by TradFi "boomers" to gatekeep finance [2][3]. - The argument from MSCI that firms primarily holding crypto lack real operating businesses is challenged by Samani, who cites Michael Saylor's company, MicroStrategy (MSTR), as an example of a successful crypto treasury firm [3][4]. Group 2: Forward Industries and Investment Strategy - Forward Industries received a $1.65 billion private investment in public equity (PIPE) from Multicoin Capital, Galaxy Digital, and Jump Crypto to create a Solana-focused digital asset treasury [4]. - Samani emphasizes that Forward Industries' strategy will extend beyond merely holding Solana (SOL), aiming to become a diversified holding company with various cash flow-producing businesses relevant to the crypto sector [5].

Bitcoin (BTC) adoption is often discussed in terms of price cycles, institutional products and macro hedging. Akin Fernandez, founder and CEO of Azteco, sees it differently. He argues that Bitcoin’s next phase of growth will come from making it easy for people to use very small amounts, especially in regions where traditional financial rails are either inaccessible or unnecessary. During a recent interview on TheStreet Roundtable, Fernandez described Azteco as a company built around Bitcoin’s technical re ...

Core Viewpoint - The stalled crypto market structure bill and Coinbase's pullback are not hindering the momentum for firms focused on tokenized securities, with industry leaders expressing optimism about the bill's potential impact on the sector [1]. Group 1: Industry Perspectives on the Bill - Carlos Domingo, CEO of Securitize, believes the current draft of the bill does not eliminate tokenized equities but clarifies that they remain securities subject to existing regulations, which is essential for integrating blockchain into traditional markets [2]. - Gabe Otte, co-founder and CEO of Dinari, disagrees with Coinbase's interpretation of the bill as a "de facto ban," asserting that it reaffirms tokenized equities as securities operating under current laws [3][4]. - Alexander Zozos, general counsel of Superstate, emphasizes that the bill's value lies in addressing gray areas for crypto assets that are not clearly defined as securities, rather than regulating tokenized stocks or bonds [5]. Group 2: Regulatory Environment and Future Outlook - Zozos notes that the SEC is already addressing these issues through its "Project Crypto" initiative and will continue to provide clarity even without further legislative action, indicating that the delay primarily affects the clarification of regulatory frameworks for capital-raising projects [6]. - Will Beeson, CEO of Uniform Labs, highlights that the movement towards regulated and liquid tokenized assets persists, even in the absence of immediate legislative resolution [7].

The US Jan Philadelphia Fed business outlook survey rose +21.4 to a four-month high of 12.6, stronger than expectations of -1.4.The US Jan Empire manufacturing survey of general business conditions rose +11.4 to 7.7, stronger than expectations of 1.0.US weekly initial unemployment claims unexpectedly fell -9,000 to a 6-week low of 198,000, showing a stronger labor market than expectations of an increase to 215,000.However, stocks fell back from their best levels as hawkish Fed comments pushed bond yields hi ...

Core Viewpoint - Cantor Equity Partners II (CEPT) experienced a stock increase following Citron Research's support for Securitize and criticism of Coinbase's withdrawal from crypto market structure legislation [1][4]. Group 1: Company Developments - Securitize has issued over $4 billion in tokenized assets and possesses the necessary licenses to offer tokenized securities, positioning it to benefit from clearer regulatory rules [2]. - CEPT shares rose by as much as 10% after Citron's endorsement but later settled at a 2.2% gain [4]. Group 2: Industry Dynamics - Citron Research highlighted a competitive struggle between Coinbase and emerging Wall Street players, framing it as a conflict involving major entities like BlackRock [3]. - Coinbase's withdrawal from supporting the legislation was attributed to concerns that it would "de facto ban" tokenized equities, leading to a cancellation of the Senate Banking Committee's markup on the crypto market structure [4].

Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead. Grab a coffee as Ethereum, crypto capital, and one of the world’s biggest creators collide in a deal that has everyone talking. Crypto News of the Day: Tom Lee's BitMine Backs MrBeast YouTube star Jimmy Donaldson, better known as MrBeast, may have claimed he has “negative money,” but his company, Beast Industries, just received a massive boost. In a Thursday announcement, ...

BitMine Immersion Technologies, the Ethereum treasury firm chaired by Fundstrat’s Tom Lee, unveiled a $200 million investment on Thursday in Beast Industries, a company founded by YouTube creator Jimmy Donaldson, recognized worldwide as MrBeast. In a press release shared with Decrypt, Lee described Donaldson, whose videos and social media posts generate millions of impressions and views daily, as a generational content creator “with a reach and engagement unmatched with GenZ, Gen Alpha, and Millennials.” L ...