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Crypto & Web3CoinDesk ·

ECB Seeks Merchant Partners for 12-Month Digital Euro Pilot Program

The European Central Bank is inviting merchants to join a pilot program testing a beta version of the digital euro. The trial is set to run for 12 months and will evaluate the currency across multiple payment scenarios. Testing will cover online, mobile, in-store, and peer-to-peer transactions. The initiative marks a significant step in the ECB's efforts to develop a central bank digital currency for everyday use.

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Crypto & Web3CoinDesk ·

Clarity Act Passage Odds Drop as GOP Rejects Democrat Counter-Proposal

The prospects of the Clarity Act, a crypto market structure bill, have taken a sharp hit after Republicans rejected a counter-proposal put forward by Democrats. Prediction markets responded quickly, significantly lowering the odds of the bill passing in the near term. Negotiations between the two parties remained deadlocked with a key Senate vote approaching. The stalemate has cast serious doubt on whether the legislation can advance through Congress on its current timeline.

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Crypto & Web3CoinDesk ·

DeFi Bridge Exploit Lets Hacker Mint 46 Billion Fake BTC from Just $0.25

A hacker exploited two software vulnerabilities in a DeFi bridge protocol to mint approximately 46 billion synthetic Bitcoin tokens using only 25 cents worth of real BTC. The fabricated tokens, known as syBTC, represented more than 2,000 times Bitcoin's entire maximum supply, making them completely unbacked by real assets. The attack targeted Symbiosis, a cross-chain DeFi bridge platform. Symbiosis has since assessed its preliminary losses from the incident at 9.97 BTC.

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Crypto & Web3CoinDesk ·

Standard Chartered Forecasts 70x Surge in ARB Token, Targeting $10 Price

Standard Chartered bank has predicted that Arbitrum's ARB token could rise roughly 70 times its current value, reaching a price of $10. The bank cited potential revenue from Robinhood Chain as a key driver behind the bullish forecast. Standard Chartered believes that growing tokenization trends will position Arbitrum as a preferred blockchain network for traditional financial institutions. However, ARB token holders currently have no direct claim on the network's fee revenues, which remains a notable caveat to the optimistic outlook.

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Crypto & Web3CoinDesk ·

Rep. Thanedar Urges Senate to Pass Clarity Act for Digital Asset Innovation

U.S. Representative Shri Thanedar, a Democrat from Michigan, is calling on Congress to pass the Clarity Act to support the digital asset industry. Thanedar argues that the legislation is essential to ensure long-term economic innovation in the United States. The bill would require at least 60 Senate votes to advance, making bipartisan support a critical factor. Thanedar contends that the digital asset sector is in need of regulatory relief that only this legislation can provide.

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Crypto & Web3CoinDesk ·

Banks Stand to Gain Most From Crypto Clarity Act, Argues CMCC CEO

Alex Tapscott, CEO of CMCC Global Capital Markets, argues that banks should embrace rather than resist the Clarity Act. He contends that financial institutions could emerge as the biggest beneficiaries of clearer cryptocurrency regulation. The Clarity Act aims to establish a defined regulatory framework for digital assets in the United States. Tapscott suggests that regulatory certainty would allow banks to confidently enter and expand within the crypto space. Rather than viewing the legislation as a threat, he urges banks to recognize it as an opportunity for growth.

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Crypto & Web3CoinDesk ·

Velocity raises $48M Series A at $200M valuation backed by Visa, Circle, Ripple

London-based payments infrastructure company Velocity has extended its Series A funding round to a total of $48 million. The round values the firm at $200 million, according to CEO Eric Queathem. Notable backers in the round include major financial and crypto players Visa, Circle, and Ripple. The investment is expected to support Velocity's growth in the payments infrastructure space.

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Crypto & Web3CoinDesk ·

Bitcoin drops 1.7% as Polymarket odds on Clarity Act passage sharply decline

Bitcoin slipped 1.7% to $76,862 as of midnight UTC on Tuesday, reversing gains made during a late Monday rally. The decline coincided with a sharp drop in prediction market odds on Polymarket regarding the passage of the Clarity Act. Overnight, the probability of the crypto legislation becoming law this year roughly halved on the platform. The Clarity Act's uncertain legislative prospects appear to have dampened investor sentiment, triggering the pullback in Bitcoin's price.

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Crypto & Web3CoinDesk ·

Coding Error in Authorized Helper Contract Leads to $7.8M Crypto Theft

A hacker exploited a simple coding mistake to drain $7.8 million from a cryptocurrency wallet. Security firms investigating the breach traced the vulnerability to a helper contract that the wallet owner had previously authorized. The flaw was not found in the Safe wallet platform itself, but in the third-party contract connected to it. The incident highlights the risks posed by authorized peripheral contracts, which can serve as entry points for attackers even when core wallet infrastructure remains secure.

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Crypto & Web3CoinDesk ·

UK Bitcoin Firm Stack BTC Plans $16M Gold Dealer Acquisition to Fund BTC Buys

Stack BTC, a bitcoin-focused company backed by UK politician Nigel Farage, is eyeing a $16 million acquisition of a gold dealer. The deal is designed to leverage revenue from precious metals sales to finance the purchase of bitcoin holdings. This strategy mirrors a growing trend of companies using traditional asset cash flows to accumulate cryptocurrency. The proposed acquisition signals Stack BTC's intent to build a significant bitcoin treasury through unconventional funding routes.

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Crypto & Web3CoinDesk ·

CoinEx to shut down after 9 years, CEO cites security and compliance risks

Hong Kong-based cryptocurrency exchange CoinEx has announced it will cease all operations after nine years in business. Founder and CEO Haipo Yang made the decision to shut down the platform rather than pursue a sale to another party. Yang cited growing security and compliance risks as the primary reasons behind the closure. He described the shutdown as a preferred "clean ending" over transferring ownership of the exchange.

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Crypto & Web3CoinDesk ·

Bitcoin Retreats 3% From $79,530 High as Senate Prepares Crypto Structure Vote

Bitcoin pulled back approximately 3% after briefly approaching $80,000, having touched a high of $79,530 overnight. The decline came as the U.S. Senate prepared to hold a procedural vote on the Clarity Act, a crypto market structure bill, on Tuesday. Most major cryptocurrencies followed Bitcoin lower, with XRP and Zcash being the only notable exceptions posting gains. The Senate vote represents a significant legislative moment for the crypto industry, as the Clarity Act aims to establish a clearer regulatory framework for digital asset markets.

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Crypto & Web3CoinDesk ·

XRP Ledger Needs One More Vote to Enable Multi-Transaction Batching

The XRP Ledger is on the verge of activating a major payments upgrade called Batch V1.1. The feature would allow users to bundle up to eight linked transactions into a single operation. So far, 27 of the 35 trusted validators on the network have voted in favor of the change. Only one additional validator vote is needed to meet the threshold required for the upgrade to proceed.

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Crypto & Web3CoinDesk ·

U.S. DOJ seeks $61M forfeiture over alleged Iran crypto oil laundering

The U.S. Department of Justice has filed a civil forfeiture complaint targeting $61 million in cryptocurrency. Prosecutors allege the funds are proceeds from illegal Iranian oil sales conducted through black market channels. The DOJ claims Iran used crypto assets to launder revenue from these unauthorized petroleum transactions. The seized funds are alleged to have been intended to finance Iran's military operations.

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Crypto & Web3CoinDesk ·

Solana triples transaction size limit, boosting edge over Ethereum

Solana has upgraded its transaction capacity through a new format called Transaction V1, raising the data limit from 1,232 bytes to 4,096 bytes. This represents more than a threefold increase in the amount of data a single transaction can carry. The expanded limit gives developers significantly more room to build complex operations within one transaction. Use cases that stand to benefit include multi-step trades, corporate wallet approvals, and privacy proofs. The upgrade is seen as strengthening Solana's competitive position relative to Ethereum.

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Crypto & Web3CoinDesk ·

Democrats Send Counteroffer to Republicans on Crypto Clarity Act Provisions

Democratic senators submitted a counteroffer to Republicans regarding provisions in the Clarity Act, a cryptocurrency legislation bill. The development signals ongoing bipartisan negotiations over the bill's terms. Democratic senators were reported to be meeting late Monday to review and discuss the latest proposed draft text. The back-and-forth exchange reflects efforts by both parties to reach a compromise on the legislation's key provisions.

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Crypto & Web3CoinDesk ·

House Ways and Means Committee releases crypto tax bill before upcoming hearing

The U.S. House Ways and Means Committee has published a new cryptocurrency tax bill in advance of a scheduled hearing this week. The legislation aims to address several key areas the crypto industry has long sought regulatory clarity on. Among the issues covered are de minimis transaction thresholds and the tax treatment of staking rewards. The bill represents a congressional effort to establish clearer tax policy frameworks for digital assets.

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Crypto & Web3CoinDesk ·

Bitcoin dips to $77,800 ahead of Senate Clarity Act vote amid rising oil prices

Bitcoin retreated to $77,800 after briefly touching $79,000, as market attention turns to an upcoming U.S. Senate vote on the Clarity Act. The legislation is expected to provide regulatory guidance for the cryptocurrency sector. Simultaneously, rising oil prices have added to broader market uncertainty. The combination of legislative developments and macroeconomic pressures appears to be weighing on Bitcoin's short-term price movement.

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Crypto & Web3CoinDesk ·

Wall Street's Crypto Expansion Set to Continue With or Without Clarity Act

The Clarity Act aims to provide banks, brokers, and asset managers with a defined regulatory framework for operating in the digital assets space. However, financial institutions have already made significant inroads into cryptocurrency, making a full retreat unlikely even if the legislation fails. Analysts suggest that without the bill, adoption may decelerate but will not halt entirely. The depth of Wall Street's existing crypto commitments means regulatory uncertainty would slow, rather than reverse, the industry's momentum.

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