The January Blowup

In January, Armstrong posted publicly on X the night before the Senate Banking Committee’s scheduled markup, announcing that Coinbase could not support the bill in its current form.

That move single-handedly caused the hearing to be postponed and fractured the crypto industry.

The move drew public disagreement from prominent leaders, including a16z crypto’s Chris Dixon, who posted that now was the time to move the bill forward.

The Compromise That Changed Things

Over the following months, Senators Thom Tillis (R-SC) and Angela Alsobrooks (D-MY) negotiated a compromise. By late March, the two reportedly came to a tentative deal on stablecoin yield.

Then on April 8, the…

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BTC Is Digital, Decentralized, Non-Sovereign Asset

Anthony Pompliano said in his latest podcast episode on Thursday that Bitcoin is demonstrating “true product-market fit,” citing rising interest from both traditional finance and geopolitical actors.

He pointed to the launch of a low-fee Bitcoin exchange-traded fund by Morgan Stanley as evidence of accelerating institutional adoption.

Pompliano also referenced reports suggesting that Iran may have explored a ceasefire-related arrangement involving a transit tax potentially settled in Bitcoin.

He described this as a sign of Bitcoin’s neutrality and usefulness in situations where countries cannot rely on traditional fiat systems due to…

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World Liberty Financial (CRYPTO: WLFI) denied liquidation risk after pledging approximately 5 billion WLFI tokens and borrowing roughly $75 million in stablecoins on a decentralized finance protocol.

The Denial

WLFI fired back at critics questioning its massive lending position on Dolomite, calling the concerns “wrong” and framing its role as the protocol’s anchor borrower.

“We are one of the largest suppliers and borrowers on WLFI Markets. Yes, we supplied WLFI as collateral and borrowed stablecoins. No, we are nowhere near liquidation,” WLFI wrote. 

“Even if markets moved dramatically against us, we’d simply supply more collateral,” they added.

By being the anchor borrower,…

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The Fragile Relief Rally

The fragile standstill in the Middle East has eased Bitcoin traders’ panic, but they’re not tearing up their hedges against a sharp drop just yet, according to Bybit chief market analyst Han Tan.

“Relief rallies across the risk complex have been limited by lingering doubts over a meaningful end to this Middle East conflict,” Tan said. 

“The fragile ceasefire remains on shaky ground,” he added.

Bitcoin powered 8% after the U.S. and Iran announced a conditional two-week truce that includes steps tied to reopening the Strait of Hormuz. The narrow shipping lane carries about a fifth of global oil and liquefied natural gas.

The ETF Inflows

April has seen $411…

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Lee has been clear: buybacks make sense when a stock trades below “intrinsic value,” reported MEXC.

The Math Behind The Move

And right now, BitMine’s balance sheet tells an interesting story—its Ethereum (CRYPTO: ETH) holdings are estimated at over $10 billion, while its market cap sits closer to the $9–10 billion range.

That gap matters.

Because if BitMine is effectively trading at—or below—the value of its ETH holdings, then buying back stock isn’t just financial engineering. It’s a cheaper way to gain exposure to Ethereum.

Stock Vs ETH: The Same Trade, Different Price

Here’s the trade-off investors are now looking at:

Buying ETH directly offers clean, 1:1 exposure.

Buying BitMine…

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Bitcoin trades around $72,000 as Bitcoin ETFs saw $343.3 million in net inflows on Thursday, while Ethereum ETFs reported $85.2 million in net inflows.  

Meme coin market capitalization is up 0.5% to $34 billion over the past 24 hours.

Trader Commentary: 

Crypto chart analyst Ali Martinez said Bitcoin is trading within a key supply zone between $63,111 and $73,200, an area where many investors previously accumulated.

If price remains within this range, these holders are likely to defend their positions, creating strong support and resistance driven by psychological factors.

Ted Pillows noted that Ethereum has slipped below $2,200 amid renewed geopolitical tensions following a ceasefire…

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U.S. Treasury Secretary Scott Bessent called crypto leaders resisting the Clarity Act “nihilists” as the bill remains stalled over stablecoin yield disputes with midterm elections threatening passage.

The Nihilists Attack

“A growing share of crypto development has relocated to places with clear rules, such as Abu Dhabi and Singapore”, Bessent wrote in The Wall Street Journal.

Though industry nihilists may argue otherwise, there is one way to give developers and entrepreneurs the comfort to reshore: durable law.

“Congress has spent the better part of half a decade trying to pass a framework to onshore the future of finance”, Bessent added. 

The Senate Banking Committee must hold a markup…

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