Tag: Crypto

Community Banks, Crypto Industry ‘Are Allies’ In CLARITY Act Clash: Exec

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A crypto executive has pushed back against claims by the president of a community banking association that any compromise between the banking sector and the crypto industry on the US CLARITY Act would be a mistake. “If community banks and crypto can’t find a way to work together, we already know who the winners are. It’s not the community banks. It’s not consumers. It’s not the crypto industry,” Zero Knowledge Consulting founder Austin Campbell said in an X post on Friday. “It is the big banks,” Campbell said. “There is…

Crypto trading firm BlockFills explores restructuring amid losses and customer lawsuit

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BlockFills, the Chicago-based crypto options and lending platform backed by Susquehanna, is preparing for a corporate restructuring after suffering substantial financial losses and facing legal action from a customer alleging mishandling of funds. According to a Financial Times report, the firm has engaged consulting group BRG and law firm Katten Muchin Rosenman to advise on restructuring efforts. BlockFills froze client withdrawals last month following loan losses and unsuccessful bets tied to crypto mining operations. The company has since disclosed to potential investors that its financial reporting contained inaccuracies. A Manhattan…

Crypto Turnaround at Fed With Kraken Decision and Possible New Chair

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Recent events at the US Federal Reserve signal acceptance of digital assets at the highest levels of the country’s monetary system.  Kraken recently became the first crypto exchange to receive a master account at the Federal Reserve. The Fed could also see a new crypto-friendly chair. US President Donald Trump on Wednesday submitted a pro-Bitcoin candidate for the Senate’s consideration. These developments represent a significant shift in how the Fed could treat the crypto industry. But there are also detractors. Why are Fed master accounts so important to the crypto…

Crypto Exchanges Emerge as TradFi Venues amid Tokenized Commodities Boom

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Demand for tokenized commodities is increasing as investors look for safe-haven exposure through crypto-native markets that trade around the clock, rather than only during traditional market hours. The tokenized commodities sector grew 10% over the past month to $7.69 billion in cumulative market capitalization, while holders increased by 5.8% to 189,390, according to data aggregator RWA.xyz. Tether Gold (XAUT) makes up the lion’s share with $2.96 billion of onchain commodities, while Paxos Gold (PAXG) is second with $2.56 billion. The growth underscores how real-world assets are becoming a larger part…

Kazakhstan eyes up to $700 million investment in crypto assets and firms

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Kazakhstan could invest up to $700 million in crypto assets and related companies under plans to establish a state crypto reserve funded from sovereign assets, according to the National Bank of Kazakhstan. The central bank has set aside up to $350 million from its gold and foreign exchange reserves for investment in crypto-related assets, which may include digital assets, crypto tech stocks, and index funds or instruments linked to crypto performance, as confirmed by Governor Timur Suleimanov at a briefing on interest rates today. Central Bank Deputy Chair Aliya Moldabekova…

Dubai Regulator Warns KuCoin Over Unlicensed Crypto Services

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Dubai’s digital asset regulator has instructed entities behind crypto exchange KuCoin to halt unlicensed virtual asset activities in the emirate, warning investors that the platform is not authorized to serve Dubai residents. ​In a Thursday investor and marketplace alert, the Virtual Assets Regulatory Authority (VARA) said that Phoenixfin Pte Ltd, MEK Global Limited, Peken Global Limited and Kucoin Exchange EU GmbH, all commercially advertising as KuCoin, may be providing virtual asset activities to Dubai residents, “without the necessary regulatory approvals and misrepresenting its licensing status.”  VARA said the group had…

Oil jitters and macro headwinds weigh on crypto markets as fear index hits extreme lows

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When oil prices sneeze, risk assets catch pneumonia. Crypto is currently reaching for the tissues. Prediction market Polymarket now shows a record 73% probability that US oil prices will breach $90 per barrel this month — a level not seen since October 2023. Bitcoin responded by slipping below $71K, while the broader crypto Fear & Greed Index sits at a grim 18, deep in “Extreme Fear” territory. The numbers tell a painful story Bitcoin dropped 2.6% over the past 24 hours, trading below the $71K mark that bulls had been…

IRS Proposes Crypto Exchanges Shift to Mandatory Electronic Tax Documents

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The US Internal Revenue Service (IRS) is seeking to require electronic delivery of tax forms to crypto exchange users. Under the current rules, exchanges are required to provide paper copies of tax form 1099-DA, the IRS tax form used to document crypto transactions from a centralized exchange or broker, if users request paper forms. The proposed new rules, slated to be published on Friday, remove this requirement and allow brokers to “terminate” their relationships with existing clients if they refuse electronic delivery of tax forms. Additionally, the IRS proposal would…

Trade war jitters drag crypto lower across the board

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Crypto markets are bleeding red again, and this time the catalyst has nothing to do with blockchain. A widening gap between US trade rhetoric and actual Chinese purchasing behavior has rattled investors across every asset class, dragging Bitcoin below $72K and sending the Fear and Greed Index deep into “Extreme Fear” territory at 22. The selloff comes as US farmers report zero Chinese purchases of American soybeans since late 2025, directly contradicting Washington’s push to get Beijing buying more agricultural products and Boeing jets as part of trade de-escalation efforts.…

Geopolitical tensions drag crypto lower as Middle East conflict escalates

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War has a way of clarifying what traders actually believe about risk assets. Six consecutive days of US and Israeli airstrikes targeting sites across Iran have sent shockwaves through global markets, and crypto — despite its growing reputation as a macro hedge — is getting dragged down with everything else. Bitcoin slipped below $72K, Ethereum drifted near $2,100, and Solana fell under $90 as capital fled toward traditional safe havens like gold and US Treasuries. The broader picture is getting worse, not better. Kurdish opposition groups are now signaling potential…