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Crypto
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H.R. 10357 seeks easier crypto use while raising an additional $500 million in taxes
H.R. 10357 would ease rules for crypto payments, fees and qualifying loans while expanding loss-deferral and trader-accounting provisions. CryptoSlate reported that the proposal is expected to raise an additional $500 million in taxes.
USDT Reportedly Linked to Polish Energy Giant’s Failed $230M Oil Trade
USDT was reportedly involved in a failed oil trade that cost a Polish energy giant $230 million in late 2023, according to the Financial Times. The transaction links stablecoin use with a major commodity-market deal.
Velocity’s Series A reaches $48 million at a $200 million valuation
Velocity has expanded its Series A funding to $48 million at a $200 million valuation, CEO Eric Queathem said. Visa, Circle and Ripple are among the backers of the London-based payments infrastructure firm.
Nigel Farage-backed Stack BTC plans $16 million gold dealer acquisition
Stack BTC, backed by Nigel Farage, plans to acquire a gold dealer for $16 million. The proposed deal would use cash flow from precious-metals sales to increase the company’s bitcoin holdings, CoinDesk reports.
Strive’s Bitcoin Holdings Reach 25,000 BTC After $36.6M Purchase
Strive’s Bitcoin holdings have reached 25,000 BTC after a $36.6 million purchase funded entirely through preferred stock. The transaction pushed SATA’s notional value above $1 billion for the first time, Decrypt reported.
Senate Rejection of Clarity Act Ends 2026 Crypto Market-Structure Push
The Senate’s failure to advance the Clarity Act effectively ends crypto market-structure legislative efforts for 2026, CoinDesk reports. The setback has pressured digital assets and represents a major blow to an industry that backed the initiative for years.
Balancer Considers Wind-Down After Restructuring Fails to Restore Revenue
Balancer is considering a wind-down after cost cuts and new products failed to revive revenue. Marcus Hardt said v3 did not replace legacy income, while a $128 million November exploit continued to weigh on adoption.
Bitmine forecasts $334M in annual staking revenue from $15.8B crypto treasury
Bitmine has staked more than 5 million ETH and projects $334 million in annual staking revenue from its $15.8 billion crypto treasury, according to Cointelegraph, while continuing to accumulate Ether.
BlackRock’s Staking Ethereum ETF Draws Demand, but ETHA Remains the Preferred Fund
September 11 data showed demand for both BlackRock’s ETHA and staking-focused ETHB ETFs. However, investors continued to favor the roughly $9 billion ETHA, while both funds posted similar median spreads.
Kaiko extends Series B funding round to $110 million with S&P Global, BNP Paribas
Kaiko’s Series B funding round has reached $110 million, with S&P Global and BNP Paribas participating. The financing will support the company’s expansion into continuous market data services.
Hedge funds expanded positions by $400 billion ahead of Bitcoin’s September rate test
Federal Reserve data showed hedge funds added $400 billion to gross exposure in Q2. Crypto spillover remains uncertain, with Bitcoin’s September reaction depending largely on funding stress after the FOMC decision.