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US Stablecoin bill blocked as Democrats withdraw support

8.5.2025
The Guiding and Establishing National Innovation for US Stablecoins of 2025 Act, known as the GENIUS Act, failed to pass cloture in the United States Senate on May 8, dealing a slight blow to cryptocurrency regulation in the country.The bill, sponsored by Senator Bill Hagerty and co-sponsored...

Trump tricked into pushing XRP for crypto reserve: Report

8.5.2025
US President Donald Trump was reportedly manipulated by a lobbyist tied to Ripple Labs into announcing the XRP token would be part of his plans for a national cryptocurrency reserve.According to a May 8 Politico report, an employee of pro-Trump lobbyist Brian Ballard gave the president the text...

SEC considers new rules easing security token issuance

8.5.2025
Updated to correct that the SEC sent a Wells notice to Uniswap but did not bring charges.The US Securities and Exchange Commission (SEC) is considering rule changes to let companies more freely issue tokenized securities, SEC Commissioner Hester Peirce said in a speech published on May 8.The...

Are layer 2s good for Ethereum, or are they ‘extractive?’

8.5.2025
Layer 2s have been a great blockchain success story. They’ve reduced congestion on the Ethereum mainnet, driving down gas fees while preserving security.But maybe they’ve become too successful, drawing chain activity and fee income from the parent that spawned them? At least...

Missouri bill ending capital gains tax heads to governor for signature

8.5.2025
Missouri House Bill 594, a bill that would eliminate capital gains tax in the US state, has passed a vote in the state House of Representatives and now heads to Missouri Governor Mike Kehoe's desk for signature.According to attorney Aaron Brogan, the bill stipulates a 100% income tax deduction...

Bitcoin price reclaims $100K for first time since January

8.5.2025
Bitcoin has reclaimed the $100,000 price level for the first time since January, reflecting renewed bullish sentiment among investors.Bitcoin (BTC) reclaimed the $100,000 mark on May 8 at 3:22 pm UTC, surging 4.2% from the intraday low of $95,967, according to data from CoinGecko.It marked...

Ex-Celsius CEO asks to travel for a wedding after sentencing

8.5.2025
Former Celsius CEO Alex Mashinsky will probably be allowed to travel for his daughter’s wedding regardless of the outcome of his May 8 sentencing hearing.In a May 8 filing in the US District Court for the Southern District of New York, Judge John Koeltl approved an application for Mashinsky...

User experience could be crypto’s superpower — or its kryptonite

8.5.2025
Opinion by Jonathan Farnell, CEO of FreedxIt’s 2025, and over 560 million people worldwide are already using cryptocurrency — roughly 17 times the population of Tokyo. That’s a vibrant community, yet for every user who’s embraced it, billions more stand on the sidelines,...

Bitcoin miner Hut 8 grows hashrate 79% despite $134M quarterly loss

8.5.2025
Cryptocurrency mining firm Hut 8 increased its hashrate by 79% during the first quarter of the year.According to Hut8’s latest quarterly report released on May 8, the firm saw a net loss of $134.3 million despite revenue of $21.8 million. The firm’s CEO, Asher Genoot, explained that...

Coinbase to acquire options trading platform Deribit for $2.9B

8.5.2025
Coinbase, the largest cryptocurrency exchange in the US by trading volume, has agreed to acquire Deribit, one of the world’s biggest crypto derivatives trading platforms.Coinbase Global will acquire Deribit for about $2.9 billion, the exchange announced on May 8.The acquisition will allow...

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