Elizabeth Warren Blocks GENIUS Act Over Trump Stablecoin
Senator Elizabeth Warren has come out strongly against the proposed GENIUS Act, a cryptocurrency bill, because of what she believes could be corruption in a Trump family stablecoin deal with the United Arab Emirates. The debates in the Senate have become heated as lawmakers discuss the future of stablecoin regulation in the U.S. Her opposition has intensified them.
Warren openly denounced the meteoric ascent of the Trump family stablecoin, which has become the seventh biggest cryptocurrency in the world, on May 4, 2025. In one example, she said a $2 billion deal involving a UAE-backed fund was evidence of questionable financial ties. The stablecoin, designated USD1, is administered by World Liberty Financial, a firm where Donald Trump holds the position of “chief crypto advocate” and his kids function as “Web3 ambassadors.”
Senator Elizabeth Warren has come out strongly against the proposed GENIUS Act, a cryptocurrency bill, because of what she believes could be corruption in a Trump family stablecoin deal with the United Arab Emirates. The debates in the Senate have become heated as lawmakers discuss the future of stablecoin regulation in the U.S. Her opposition has intensified them.
Warren openly denounced the meteoric ascent of the Trump family stablecoin, which has become the seventh biggest cryptocurrency in the world, on May 4, 2025. In one example, she said a $2 billion deal involving a UAE-backed fund was evidence of questionable financial ties. The stablecoin, designated USD1, is administered by World Liberty Financial, a firm where Donald Trump holds the position of “chief crypto advocate” and his kids function as “Web3 ambassadors.”
Uniswap, Jump and Leading Crypto Trade Associations To Issue Statement in Support of Blockchain Regulatory Certainty Act: Report
Leading crypto firms Uniswap, Jump Trading and the Blockchain Association will soon issue a joint statement supporting the Blockchain Regulatory Certainty Act (BRCA), according to crypto reporter Eleanor Terrett.
Terrett tells her 238,200 followers on the social media platform X that the statement is “imminent.”
Leading crypto firms Uniswap, Jump Trading and the Blockchain Association will soon issue a joint statement supporting the Blockchain Regulatory Certainty Act (BRCA), according to crypto reporter Eleanor Terrett.
Terrett tells her 238,200 followers on the social media platform X that the statement is “imminent.”
Trader Predicts Parabolic Sui Rally to New Highs, Says Recent $223,000,000 DEX Hack Gave ‘Amazing Opportunity’
A widely followed crypto analyst says that layer-1 blockchain Sui (SUI) is gearing up for a massive breakout to fresh all-time highs.
In a new thread, pseudonymous crypto trader Kaleo tells his 703,900 followers on the social media platform X that SUI is suddenly presenting a major buying opportunity.
A widely followed crypto analyst says that layer-1 blockchain Sui (SUI) is gearing up for a massive breakout to fresh all-time highs.
In a new thread, pseudonymous crypto trader Kaleo tells his 703,900 followers on the social media platform X that SUI is suddenly presenting a major buying opportunity.
Merrill Lynch Ordered To Pay $3,684,163 in Damages and Other Costs Following Unsuitable Private Equity Recommendations: Report
Merrill Lynch will have to shell out nearly $3.7 million in damages and other costs after arbitrators sided against the wealth management firm following a private equity complaint.
Two customers, Qun He and Haihui Zhang, filed a complaint against Merrill, Bank of America’s wealth management division, in late 2023, alleging the firm violated securities laws, industry standards and its fiduciary duty.
The complainants also alleged the firm acted with negligence and negligent supervision and breached its contract related to various unspecified securities. Merrill Lynch denied the allegations.
Merrill Lynch will have to shell out nearly $3.7 million in damages and other costs after arbitrators sided against the wealth management firm following a private equity complaint.
Two customers, Qun He and Haihui Zhang, filed a complaint against Merrill, Bank of America’s wealth management division, in late 2023, alleging the firm violated securities laws, industry standards and its fiduciary duty.
The complainants also alleged the firm acted with negligence and negligent supervision and breached its contract related to various unspecified securities. Merrill Lynch denied the allegations.
U.S. Posts $28T Economy’s 3.3% GDP Growth on Nine Blockchains
Key Takeaways:
The U.S. Department of Commerce published Q2 2025 GDP growth of 3.3% on nine major blockchains including Bitcoin, Ethereum, and Solana.Data was anchored via Chainlink and Pyth oracles, with support from Coinbase, Gemini, and Kraken.The initiative sparked new crypto speculation, with meme coins and derivatives markets seeing sharp increases in activity.The U.S. Department of Commerce has made history by becoming the first federal agency to publish official economic statistics directly on public blockchains. Beginning with the July 2025 GDP release, the department posted a SHA256 hash of its quarterly GDP report, along with the headline growth figure of 3.3%, to nine blockchain networks.
The move has positioned blockchain as a tool not just for finance but for macroeconomic transparency, while also setting off notable ripple effects across the crypto market.
Key Takeaways:
The U.S. Department of Commerce published Q2 2025 GDP growth of 3.3% on nine major blockchains including Bitcoin, Ethereum, and Solana.Data was anchored via Chainlink and Pyth oracles, with support from Coinbase, Gemini, and Kraken.The initiative sparked new crypto speculation, with meme coins and derivatives markets seeing sharp increases in activity.The U.S. Department of Commerce has made history by becoming the first federal agency to publish official economic statistics directly on public blockchains. Beginning with the July 2025 GDP release, the department posted a SHA256 hash of its quarterly GDP report, along with the headline growth figure of 3.3%, to nine blockchain networks.
The move has positioned blockchain as a tool not just for finance but for macroeconomic transparency, while also setting off notable ripple effects across the crypto market.
$291 Million Pulled from Bitcoin, Ethereum ETFs as Inflation Spikes Under Trump Tariffs
Key Takeaways:
$291 Million Outflows: Spot Bitcoin and Ethereum ETFs saw a combined $291 million in outflows on Friday as inflation concerns surged.Trump Tariffs Fueling Inflation: New core inflation data rose 2.9% YoY, with Trump’s 10% import tariffs blamed for driving costs higher.Institutional Sentiment Shifting: Ethereum ETFs reversed after five days of inflows, highlighting growing market sensitivity to macroeconomic shifts.A sharp spike in U.S. inflation is shaking up the crypto ETF market. On Friday, investors pulled nearly $300 million from Bitcoin and Ethereum ETFs following hotter-than-expected inflation data, raising fresh concerns over U.S. monetary policy under Donald Trump’s current trade regime.
Read More: Trump-Backed Truth Social Files to Launch Crypto ETF Holding $1B in BTC, ETH, and More
Key Takeaways:
$291 Million Outflows: Spot Bitcoin and Ethereum ETFs saw a combined $291 million in outflows on Friday as inflation concerns surged.Trump Tariffs Fueling Inflation: New core inflation data rose 2.9% YoY, with Trump’s 10% import tariffs blamed for driving costs higher.Institutional Sentiment Shifting: Ethereum ETFs reversed after five days of inflows, highlighting growing market sensitivity to macroeconomic shifts.A sharp spike in U.S. inflation is shaking up the crypto ETF market. On Friday, investors pulled nearly $300 million from Bitcoin and Ethereum ETFs following hotter-than-expected inflation data, raising fresh concerns over U.S. monetary policy under Donald Trump’s current trade regime.
Read More: Trump-Backed Truth Social Files to Launch Crypto ETF Holding $1B in BTC, ETH, and More
DOGE and ALGO Consolidate, BlockDAG Gains Market Attention with F1 Partnership
The market’s attention fixates on the usual suspects. Endless speculation surrounds the next Dogecoin (DOGE) price prediction, while technical dissections of Algorand (ALGO) market analysis consume analyst bandwidth. Traders obsessively hunt for the best performing crypto today. Yet, does this focus on established assets obscure a more profound market anomaly?
The market’s attention fixates on the usual suspects. Endless speculation surrounds the next Dogecoin (DOGE) price prediction, while technical dissections of Algorand (ALGO) market analysis consume analyst bandwidth. Traders obsessively hunt for the best performing crypto today. Yet, does this focus on established assets obscure a more profound market anomaly?
FDIC Proposes Stablecoin Issuance Framework Under GENIUS Act
The FDIC proposes a framework under the GENIUS Act outlining how banks can apply to issue payment stablecoins through subsidiaries.
The Federal Deposit Insurance Corp. has advanced US stablecoin regulation by proposing a framework for banks seeking to issue payment stablecoins. The move is an initial step in the implementation of the GENIUS Act and clarifies how regulated institutions can join the growing digital payments market. Importantly, the proposal signals more regulatory structure and not restriction.
The FDIC proposes a framework under the GENIUS Act outlining how banks can apply to issue payment stablecoins through subsidiaries.
The Federal Deposit Insurance Corp. has advanced US stablecoin regulation by proposing a framework for banks seeking to issue payment stablecoins. The move is an initial step in the implementation of the GENIUS Act and clarifies how regulated institutions can join the growing digital payments market. Importantly, the proposal signals more regulatory structure and not restriction.
SEC Dismisses Civil Action Against Gemini in Crypto Lending Case
The U.S. Securities and Exchange Commission has dismissed its civil enforcement action against Gemini Trust Company, LLC, with prejudice.
The dismissal follows a joint stipulation filed today, ending the case tied to the Gemini Earn program.
The decision comes after Gemini achieved a 100% in-kind return of crypto assets to Earn investors. It also considers state and regulatory settlements related to the program.
The U.S. Securities and Exchange Commission has dismissed its civil enforcement action against Gemini Trust Company, LLC, with prejudice.
The dismissal follows a joint stipulation filed today, ending the case tied to the Gemini Earn program.
The decision comes after Gemini achieved a 100% in-kind return of crypto assets to Earn investors. It also considers state and regulatory settlements related to the program.
Ripple’s Senior Executive Officer Bullish on Bitcoin, Ethereum, XRP, Solana, Cardano Dominating Africa
Ripple’s head of coverage for the Middle East, Africa, Turkey, and Central Asia reckons that the world’s most sophisticated digital-asset markets are not in New York, London, or Singapore, but across Africa.
With 54 countries and more than 1.5 billion people building financial rails from the ground up, the continent is becoming a growth engine for cryptos like Bitcoin, Ethereum, XRP, Solana, Cardano, and DOGE, driven by utility rather than speculation.
Ripple’s head of coverage for the Middle East, Africa, Turkey, and Central Asia reckons that the world’s most sophisticated digital-asset markets are not in New York, London, or Singapore, but across Africa.
With 54 countries and more than 1.5 billion people building financial rails from the ground up, the continent is becoming a growth engine for cryptos like Bitcoin, Ethereum, XRP, Solana, Cardano, and DOGE, driven by utility rather than speculation.
Insurance Agency Warns 71,597 Americans of Potential for Identity Theft and Fraud Following Cybersecurity Incident
A US insurance agency is warning tens of thousands of Americans that their personal information is at risk after its network was hacked.
In a report sent to the Maine Attorney General, Nevada-based TransGlobal Insurance Agency says its customers’ information is at risk following a February 18th cyberattack.
A US insurance agency is warning tens of thousands of Americans that their personal information is at risk after its network was hacked.
In a report sent to the Maine Attorney General, Nevada-based TransGlobal Insurance Agency says its customers’ information is at risk following a February 18th cyberattack.
Ethereum Foundation Dumps 5,000 ETH for $11.1M DAI at $2,221 Avg Price
Key Takeaways:
Ethereum Foundation sold 5,000 ETH, which was converted to DAI amounting to $11.1MThe median price of the sale was $2,221 per ETHThe relocation is an indication of further shift in operational stability towards the use of stablecoin reservesThe Ethereum Foundation has completed a new notable treasury action, sold 5,000 ETH and completely converted it to DAI. The transaction was recorded in the blocks and has ensured a complete execution of the intended sale.
Key Takeaways:
Ethereum Foundation sold 5,000 ETH, which was converted to DAI amounting to $11.1MThe median price of the sale was $2,221 per ETHThe relocation is an indication of further shift in operational stability towards the use of stablecoin reservesThe Ethereum Foundation has completed a new notable treasury action, sold 5,000 ETH and completely converted it to DAI. The transaction was recorded in the blocks and has ensured a complete execution of the intended sale.
$690B Stablecoin Opportunity? Crypto CEO Tells Senate Digital Assets Can Cut Costs
Key Takeaways:
Cody Carbone, CEO of Digital Chamber, told the United States Senate that digital assets can help reduce payments, remittance and asset ownership costs.Stablecoins and payment rails built on blockchain could cut costs of cross-border payments and merchant transactions.Tokenization can enhance the transfer of ownership, real estate transactions, and investment markets.User Score
8.7
Follow us on Google NewsThe Digital Chamber of Commerce’s CEO Cody Carbone appeared before lawmakers in Washington to discuss how technological blockchain blocks could help alleviate financial friction for households and businesses in America.
In the Senate Banking Committee, Carbone testified that crypto is not an inflation- or housing-busting tool, but can reduce payment, remittance and asset transfer costs.
Key Takeaways:
Cody Carbone, CEO of Digital Chamber, told the United States Senate that digital assets can help reduce payments, remittance and asset ownership costs.Stablecoins and payment rails built on blockchain could cut costs of cross-border payments and merchant transactions.Tokenization can enhance the transfer of ownership, real estate transactions, and investment markets.User Score
8.7
Follow us on Google NewsThe Digital Chamber of Commerce’s CEO Cody Carbone appeared before lawmakers in Washington to discuss how technological blockchain blocks could help alleviate financial friction for households and businesses in America.
In the Senate Banking Committee, Carbone testified that crypto is not an inflation- or housing-busting tool, but can reduce payment, remittance and asset transfer costs.
Kansas Wealth Management Firm Data Breach Potentially Exposes Client Names, Social Security Numbers and More
Cybercriminals infiltrated the computer networks of the Kansas-based financial advisory firm Werth Wealth Management (WWM).
Werth says the cybersecurity division at financial services firm Raymond James detected unauthorized access to WWM’s computer systems, allowing hackers to steal client data, which may include names, dates of birth, Social Security numbers, driver’s license and passport numbers, dates of birth and account identifiers at Raymond James, reports Claim Depot.
Cybercriminals infiltrated the computer networks of the Kansas-based financial advisory firm Werth Wealth Management (WWM).
Werth says the cybersecurity division at financial services firm Raymond James detected unauthorized access to WWM’s computer systems, allowing hackers to steal client data, which may include names, dates of birth, Social Security numbers, driver’s license and passport numbers, dates of birth and account identifiers at Raymond James, reports Claim Depot.
🤑 Free ECX for your BTC stash: a three-stage hard fork (but don't get too excited, you degenerate) 🤑
Every single BTC holder gets 1 ECX per BTC at snapshot time. Sounds like free money, right? But here's the kicker: they cut out the Satoshi-era wallets (about 1.1M BTC) from the airdrop. This fork is being pushed by Paul Sztorc (aka Truthcoin) — the same guy who's been shilling Drivechains for ages but couldn't convince the Bitcoin community. So now he's forcing it through a fork. Classic.
▪️ Snapshot for the alpha phase at block 963648 (mid-August) — they'll drop test pECX tokens that'll be burned after beta.
▪️ Real ECX only comes after the beta on September 20 (block 967680) and the final mainnet on October 31 (block 973728).
▪️ The fork doesn't touch your BTC — it just copies your balance onto a new chain. Your Bitcoin stays safe, and you get a free bonus asset. No risk, but don't get too comfy.
▪️ They cut out ~1.1M BTC from the airdrop — those are the early wallets, probably Satoshi and his gang. No ECX for them. Guess they don't need more freebies.
▪️ Mining is SHA-256d, same as Bitcoin, but difficulty starts super low — first blocks will be mined fast and cheap. So expect some early miners to scoop up easy coins.
▪️ Right after mainnet, they'll launch 7 sidechains: Thunder (fast payments), Zside (privacy), Truthcoin (betting), and others. A whole ecosystem of promises.
📊 Airdrop ratio:
📊 Excluded wallets:
📊 Key dates:
🔮Sztorc finally got his way — not through a soft fork like a gentleman, but a hard fork like a bull in a china shop.
@macpocommunity
Every single BTC holder gets 1 ECX per BTC at snapshot time. Sounds like free money, right? But here's the kicker: they cut out the Satoshi-era wallets (about 1.1M BTC) from the airdrop. This fork is being pushed by Paul Sztorc (aka Truthcoin) — the same guy who's been shilling Drivechains for ages but couldn't convince the Bitcoin community. So now he's forcing it through a fork. Classic.
▪️ Snapshot for the alpha phase at block 963648 (mid-August) — they'll drop test pECX tokens that'll be burned after beta.
▪️ Real ECX only comes after the beta on September 20 (block 967680) and the final mainnet on October 31 (block 973728).
▪️ The fork doesn't touch your BTC — it just copies your balance onto a new chain. Your Bitcoin stays safe, and you get a free bonus asset. No risk, but don't get too comfy.
▪️ They cut out ~1.1M BTC from the airdrop — those are the early wallets, probably Satoshi and his gang. No ECX for them. Guess they don't need more freebies.
▪️ Mining is SHA-256d, same as Bitcoin, but difficulty starts super low — first blocks will be mined fast and cheap. So expect some early miners to scoop up easy coins.
▪️ Right after mainnet, they'll launch 7 sidechains: Thunder (fast payments), Zside (privacy), Truthcoin (betting), and others. A whole ecosystem of promises.
📊 Airdrop ratio:
1:1 ECX/BTC📊 Excluded wallets:
~1.1M BTC (Satoshi-era addresses)📊 Key dates:
Alpha ~Aug, Beta Sep 20, Mainnet Oct 31For BTC holders, this is free cheese with minimal risk — you lose nothing, you get a token. But don't kid yourself: ECX is a competing chain that could siphon off hype and liquidity. If it pumps, you sell ECX for BTC and take profit. If it dumps, you forget it ever existed. The catch? Make sure your BTC is in your own wallet at snapshot time, not on an exchange — otherwise you'll miss the drop. Exchanges might not support it, so DYOR.
🔮
@macpocommunity
📉 Night of the dump and new highs – morning debrief for the bagholders
So Bitcoin dumped, then pumped to new highs overnight. Surprise, surprise – exactly when the leverage got flushed. Retail got rekt, whales got richer. Same old story, different day. But hey, at least the charts look pretty again.
@macpocommunity
So Bitcoin dumped, then pumped to new highs overnight. Surprise, surprise – exactly when the leverage got flushed. Retail got rekt, whales got richer. Same old story, different day. But hey, at least the charts look pretty again.
@macpocommunity
🐋 Abraxas just dumped a $783M short nuke on Hyperliquid — and then hedged with $173M ETH. Classic whale move.
London whale Abraxas Capital just parked a massive $783M short position on Hyperliquid — the biggest short book DeFi has ever seen. But don't let the headlines fool you, boys. They're not just betting the farm on a crash. They pulled $173M in ETH from Binance as a hedge, turning this into a funding rate farm, not a directional bet. Classic whale play: collect from the longs while staying neutral.
▪️ They spread $783M in shorts across ETH ($193.9M), BTC ($175.4M), HYPE ($141.6M), SOL ($65.8M) on Hyperliquid — two wallets doing all the heavy lifting. Because why use ten when two will do?
▪️ Over 4 days, they quietly pulled $173M ETH off Binance — a spot cushion to offset the short perp exposure. Net result: nearly market-neutral. They're not gambling, they're arbitraging.
▪️ The play? Collect funding payments from all you leveraged longs while staying hedged. Abraxas has already banked over $300M in realized profits from this arbitrage game.
▪️ Currently sitting on an $80.8M unrealized loss. That's just the cost of doing business, kid. They're printing funding fees, not betting on direction. The loss is just a tax write-off.
▪️ Just added another $19.5M in shorts in a 2-hour window. Their short book has been bouncing between $500M and $900M since mid-2025; currently at $598M. They're playing the range, not the price.
▪️ The HYPE short ($141.6M) is paired with spot HYPE buys — same neutral harvest, different token. They're farming everything.
📊 Short position:
📊 ETH withdrawn:
📊 Unrealized loss:
📊 Realized profit:
🔮Abraxas isn't predicting a crash — they're selling you insurance and cashing the premium. The real trade is the funding rate, not the direction. You're the mark, they're the house.
@macpocommunity
London whale Abraxas Capital just parked a massive $783M short position on Hyperliquid — the biggest short book DeFi has ever seen. But don't let the headlines fool you, boys. They're not just betting the farm on a crash. They pulled $173M in ETH from Binance as a hedge, turning this into a funding rate farm, not a directional bet. Classic whale play: collect from the longs while staying neutral.
▪️ They spread $783M in shorts across ETH ($193.9M), BTC ($175.4M), HYPE ($141.6M), SOL ($65.8M) on Hyperliquid — two wallets doing all the heavy lifting. Because why use ten when two will do?
▪️ Over 4 days, they quietly pulled $173M ETH off Binance — a spot cushion to offset the short perp exposure. Net result: nearly market-neutral. They're not gambling, they're arbitraging.
▪️ The play? Collect funding payments from all you leveraged longs while staying hedged. Abraxas has already banked over $300M in realized profits from this arbitrage game.
▪️ Currently sitting on an $80.8M unrealized loss. That's just the cost of doing business, kid. They're printing funding fees, not betting on direction. The loss is just a tax write-off.
▪️ Just added another $19.5M in shorts in a 2-hour window. Their short book has been bouncing between $500M and $900M since mid-2025; currently at $598M. They're playing the range, not the price.
▪️ The HYPE short ($141.6M) is paired with spot HYPE buys — same neutral harvest, different token. They're farming everything.
📊 Short position:
$783M📊 ETH withdrawn:
$173M📊 Unrealized loss:
$80.8M📊 Realized profit:
$300M+If you're long ETH, BTC, HYPE, or SOL on Hyperliquid, congrats — you're paying Abraxas's funding fees. This whale isn't betting on a crash; they're collecting the premium from all you leveraged degens. The short book will grow or shrink based on funding rates, not price. Watch for position changes — they've slashed from $760M to $270M before. Don't say we didn't warn you.
🔮
@macpocommunity