Day: March 13, 2025

Solana CME futures tip impending US ETF approvals — Exec

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The upcoming launch of Solana (SOL) futures on the Chicago Mercantile Exchange (CME), a US derivatives exchange, signals that the first US SOL exchange-traded fund (ETF) listings are coming soon, Chris Chung, founder of Solana-based swap platform Titan, told Cointelegraph.  On March 17, CME is preparing to launch SOL futures contracts. They will be among the first regulated Solana futures to hit the US market after Coinbase’s launched in February.  The listing “paves the way for the eventual approval of SOL ETFs,” Chung told Cointelegraph. Chung said he expects the…

DOGE proposes slashing Internal Revenue Service staff by 20%

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The Department of Government Efficiency (DOGE) is reportedly proposing cutting the Internal Revenue Service’s (IRS) workforce by 20% in a change expected to take effect by May 15, 2025. According to CNN, the cuts would impact an estimated 6,800 employees at the government agency, in addition to the 6,700 probationary employees who have already been let go and 4,700 IRS agents who were given severance packages to retire. However, a recent ruling from US district judge William Alsup ordering federal agencies to reinstate probationary workers terminated due to the DOGE…

L2 gaming activity spikes in February, but wallets decline — Report

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Gaming activity on some layer-2 blockchains rose by over 20,000% in February 2025 while the number of daily unique active wallets (dUAWs) dropped, according to a report by DappRadar. Abstract, an Ethereum layer-2 blockchain developed by Igloo, the parent company of NFT collection Pudgy Penguins, led all chains with a growth of over 20,000% in daily active unique wallets (dAUWs). Soneium, Sony’s Ethereum L2 blockchain, came in second with a growth of over 3,200%, and Linea, another L2 blockchain, placed third with over 1,000% growth. Monthly growth of unique active…

Hyperliquid ups margin requirements after $4 million liquidation loss

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Hyperliquid, a blockchain network specializing in trading, has increased margin requirements for traders after its liquidity pool lost millions of dollars during a massive Ether (ETH) liquidation, the network said.  On March 12, a trader intentionally liquidated a roughly $200 million Ether long position, causing Hyperliquid’s liquidity pool, HLP, to lose $4 million, unwinding the trade.  Starting March 15, Hyperliquid will begin requiring traders to maintain a collateral margin of at least 20% on certain open positions to “reduce the systemic impact of large positions with hypothetical market impact upon…

AML Bitcoin creator convicted of wire fraud, money laundering

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The founder of a cryptocurrency exchange whose namesake was tied to Anti-Money Laundering (AML) was found guilty of wire fraud and money laundering in a California court. In a March 12 trial in the US District Court for the Northern District of California, a jury found AML Bitcoin creator Rowland Marcus Andrade guilty of two felony counts as part of a scheme to defraud investors. Authorities initially filed criminal charges against Andrade in June 2020 in parallel to a civil case filed by the US Securities and Exchange Commission (SEC)…

DigiFT launches Invesco private credit token on Arbitrum

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Digital asset exchange DigiFT has launched Invesco’s tokenized private credit strategy on Arbitrum, further expanding the use cases of real-world assets (RWA) and giving institutional investors access to onchain credit markets. According to a March 13 announcement, Invesco’s US Senior Loan Strategy (iSNR) token is now live on Arbitrum, a popular Ethereum layer-2 network. The tokenized asset was launched on Feb. 19 and is designed to track the performance of a private credit fund managed by Invesco, a publicly traded investment manager headquartered in Atlanta, Georgia.  At the time of…

Senate Banking Committee advances GENIUS stablecoin bill

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The United States Senate Banking Committee elected to advance the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in an 18-6 vote. None of the amendments proposed by Senator Elizabeth Warren made it into the bill, including her proposal to limit stablecoin issuance to banking institutions. “Without changes, this bill will supercharge the financing of terrorism. It will make sanctions evasion by Iran, North Korea, and Russia easier,” Warren argued. Senator Warren argues for amendments to be included in the bill. Source: US Senate Banking Committee GOP Senator…

Bitcoin 2025 Conference Brings Back Highly Anticipated Legal Education Program

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BTC Inc., a leading provider of Bitcoin-related news and events, has announced the return of its Continuing Legal Education (CLE) program at The Bitcoin 2025 Conference in Las Vegas, Nevada. Scheduled for May 27th at the Venetian Expo Hall, this premier program provides legal and financial professionals with the opportunity to stay informed about the ever-evolving regulatory landscape surrounding Bitcoin. Following a highly successful debut at Bitcoin 2024, where attorneys, startup founders, corporate legal teams, and policymakers praised the program for tackling crucial legal topics, the 2025 CLE session will…

Crypto regulation shifts as Bitcoin eyes $105K amid liquidity boost

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Bitcoin (BTC) price has risen 8% from its March 11 low of $76,703, driven in part by large investors aggressively buying the dip with leverage. Margin longs on Bitfinex surged to their highest level since November 2024, adding 13,787 BTC over 17 days. Currently standing at $5.7 billion, this bullish leveraged positioning signals confidence in Bitcoin’s upside potential despite recent price weakness. Bitcoin/USD (orange, left) vs. Bitfinex BTC margin longs (right). Source: TradingView / Cointelegraph Some analysts argue that Bitcoin’s price is closely linked to the global monetary base, meaning…

Banks push to block stablecoin legislation over market share fears

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Bankers and their allies in the US Senate are pushing back against the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act over fears that stablecoins will disintermediate banks and erode banking market share. According to an article from American Banker, the bill requires 60 votes to pass in the Senate, meaning that at least seven Democrats will have to vote with Republicans to push through the Act. This could prove a difficult proposition, as US Senator Elizabeth Warren, one of crypto’s staunchest political critics, is proposing an amendment…