Bitcoin hovers near $80,000 as President Trump meets China's Xi Jinping, with the outcome potentially impacting the crypto market's risk rally amid rising inflation and Treasury yields.
NEWSAIIsrael's tax authority expected to collect up to $1 billion from voluntary cryptocurrency disclosures but has only received reports of $50 million in capital earnings so far. The policy offers immunity from criminal charges for those correcting past tax reports, but a lack of anonymity and perceived low risk assessment for some taxpayers has weakened incentives.
NEWSAIFintech firm Revolut plans to offer stablecoins through its upcoming US bank, aiming to attract retail and business customers with international banking needs. The bank, expected to launch next year, will also provide FDIC-insured accounts and other financial services.
NEWSAICrypto and U.S. stocks declined Wednesday as renewed Middle East conflict pushed Brent crude to a 12-day high of $96/barrel. Rising energy costs sent the U.S. 10-year Treasury yield to 4.5%, signaling inflation concerns.
NEWSAICoinbase is reportedly exploring a loophole in the CLARITY Act, which aims to ban passive interest on stablecoins. By integrating with Ethena, a synthetic dollar protocol, Coinbase could offer activity-based rewards, potentially bypassing regulations and frustrating traditional banks.
NEWSAIMastercard is enhancing its credit card transaction settlement capabilities by supporting regulated stablecoins like USDC and RLUSD across blockchains such as Ethereum and Solana, aiming for 24/7 economy operations.
NEWSAIBinance revealed a revenue-sharing agreement with Alpaca, a provider of tokenized US stock and ETF infrastructure. Binance will receive 50% of Alpaca's PFOF fees and 65% of stock lending profits.
