LATEST: US Senate Moves GENIUS Act Forward After Successful Cloture Vote Passed

Breaking barriers the US Senate has advanced the Guiding and Establishing National Innovation for US Stablecoins Act also known as the GENIUS Act. This key crypto-friendly bill cleared a major hurdle with a 66-32 procedural vote setting up full debate on the Senate floor.

Momentum shifted as several Democrats changed their votes emphasizing America’s need to lead in blockchain technology. Senator Mark Warner voiced his concerns about past conflicts but declared that America cannot afford to stand by while other nations set the rules for crypto innovation. Supporters argue that the GENIUS Act offers robust protections while keeping the door open for US leadership in the rapidly growing $250 billion stablecoin market.

The GENIUS Act requires all stablecoins to be fully backed regular security audits and clear federal or state approval. Only licensed companies can issue these digital dollars while risky algorithmic stablecoins are restricted. Crypto advocates believe this bill will cement the US as a leader in financial technology innovation.

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Bitcoin’s Rise To $1 Million Will Make Tether The Largest Holder Of US Treasuries, Says Popular Analyst

Widely followed cryptocurrency analyst Willy Woo predicted Monday that stablecoin issuing company Tether USDT/USD would become the top holder of U.S. treasuries once Bitcoin BTC/USD hits $1 million a piece.

What Happened: Woo reacted to an X post showcasing Tether’s growing demand for U.S. Treasuries, which was surging ahead of many sovereign nations.

“The crazy thing is when BTC hits $1 million, Tether will likely be the #1 holder of U.S. treasuries,” Woo projected.

Dollar-pegged coins like USDT act as a bridge between the volatile cryptocurrency market and the traditional financial world. A rising Bitcoin price can signal increased interest in the broader cryptocurrency market,…

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Senate advances stablecoin bill in cloture vote redo

The Republican-sponsored GENIUS Act, which seeks to establish regulatory guidelines for stablecoins, has passed a key procedural vote in the US Senate. 

The legislation is now clear to advance to a full floor vote. The cloture vote passed  60-29 on Monday evening.

The passage comes after a cloture vote on the GENIUS Act failed earlier this month in a 48-49 vote. 

Senators have been negotiating elements of the bill over the past few weeks, people familiar with the matter told Blockworks.

The latest draft of the bill states that foreign stablecoin issuers not predominantly engaged in financial services activities must be unanimously approved by the Stablecoin Certification…

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LATEST: CEO Jamie Dimon Says JPMorgan Enables Bitcoin Buying, Not Custody Services

JPMorgan Chase CEO Jamie Dimon announced the bank will allow clients to buy Bitcoin marking a significant shift despite his longstanding skepticism. Dimon known for calling Bitcoin a Ponzi scheme and claiming it has no real value confirmed JPMorgan will enable Bitcoin transactions but clarified the bank itself will not hold custody of the cryptocurrency.

The move comes amid growing acceptance of digital assets by major financial institutions driven by recent support from the Trump administration and the Federal Reserve. Fed Chairman Jerome Powell previously stated that banks could offer cryptocurrency services if risks are effectively managed although he acknowledged regulatory standards remain high due to the asset class’s novelty.

Dimon who remains critical of blockchain technology despite JPMorgan’s extensive use said blockchain hasn’t achieved the anticipated impact. Still JPMorgan’s decision to support Bitcoin transactions reflects a broader industry trend towards crypto adoption suggesting mainstream finance may finally be warming up to digital currencies despite continued caution from traditional banking leaders.

BitMine Launches Bitcoin Treasury Advisory Practice, Secures $4M Deal With First Client

Today, BitMine Immersion Technologies, Inc. (OTCQX: BMNRD) announced the launch of its Bitcoin Treasury Advisory Practice and a $4 million deal with a U.S. exchange-listed company. The deal saw Bitmine surpass its last year’s total revenue in that single transaction alone, according to the announcement.

BitMine will provide “Mining as a Service” (MaaS) by leasing 3,000 Bitcoin ASIC miners to the client through December 30, 2025, in a $3.2 million lease deal, with $1.6 million paid upfront. Additionally, the client has signed an $800,000 consulting agreement for one year focusing on Bitcoin Mining-as-a-Service and Bitcoin Treasury Strategy.

“Currently, there are…

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Breaking the law can be productive (for everyone)

This is a segment from The Breakdown newsletter. To read full editions, subscribe.

“Public service is my motto. Ninety-nine percent of the people in Chicago drink and gamble. I’ve tried to serve them decent liquor and square games. But I’m not appreciated.” 

— Al Capone

Breaking the law can be productive (for everyone)

Here are two things I believe: Tipping in cash so your server doesn’t owe taxes is good — but officially making income earned from tips tax-free is bad.

Let me explain.

Paying tips in cash is good because it helps low-margin businesses like restaurants hire staff they might not otherwise be able to afford.

More broadly, cash…

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HJB Miner Commissions 50 MW Solar Farm and Opens Green-Hashrate Cloud Mining Contracts

Los Angeles, California, May 19, 2025 (GLOBE NEWSWIRE) — The facility, co-located with an NV Energy solar farm—will supply 100 % renewable electricity to HJB’s Bitcoin and Litecoin mining clusters, reducing per-unit emissions by an estimated 32 % according to an independent audit from SGS. The launch comes as institutional demand for low-carbon crypto infrastructure accelerates worldwide. 

HJB Miner simplifies the process of encrypted cloud mining and creates a convenient channel for zero-based users to easily obtain daily passive income.

In the cryptocurrency industry, ease of operation and profitability are the core elements. For novices seeking low investment, high returns and…

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US equities, bitcoin par losses while yields rise on deficit fears

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

Assets whipsawed to start the week as investors weighed growing concerns over US debt, a new budget that looks poised to pass and, of course, ongoing trade war updates.

US equities were on the recovery path after a rocky start Monday morning. The S&P 500 was trading virtually flat at 2 p.m. ET after opening almost 1% lower. The Nasdaq Composite similarly had rebounded to Friday’s closing level after starting off 1.3% in the red. 

Bitcoin dipped this morning, but it had recovered some losses by the early afternoon. The largest cryptocurrency was trading just above $105,000 — around…

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Bitcoin Records Highest Weekly Close Above $106K

Bitcoin has officially recorded its highest-ever weekly candle close, finishing the week at $106,516. The milestone was achieved on Sunday evening, marking a notable moment in Bitcoin’s ongoing price history and underscoring growing institutional and retail interest.

This weekly close sets a new benchmark for BTC’s price performance and positions the asset in a historically rare range. As of Monday, Bitcoin is trading at $102,924, reflecting typical price movement following a new high as markets adjust to key levels. 

Historical data helps illustrate the significance of this moment. According to an analysis shared by on-chain researcher Dan, Bitcoin has closed above $106,439…

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JPMorgan To Allow Clients To Buy Bitcoin, Jamie Dimon Says

Today, Chairman and CEO of JPMorgan Chase Jamie Dimon reiterated his personal disapproval of Bitcoin during the bank’s annual Investor Day event. Despite the bank’s decision to provide clients with access to Bitcoin investments, Dimon emphasized his personal disapproval of Bitcoin.

“I am not a fan” of Bitcoin, stated Dimon.

JPMorgan is going to allow clients to buy Bitcoin, but the bank won’t custody it, according to Bloomberg. Dimon made clear that while JPMorgan will provide clients access to Bitcoin investments, the bank will not hold or manage the digital asset directly. 

In a January 2025 interview with CBS News, Dimon expressed continued skepticism toward Bitcoin….

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