Latest Crypto News & Market Updates

Illinois Crypto Tax Draws Unlikely Alliance of DOJ, Banks and DeFi

In briefA broad coalition—the U.S. Justice Department, the Chamber of Commerce, Wall Street lobby SIFMA, and crypto firms led by the DeFi Education Fund, Andreessen Horowitz, Paradigm and Uniswap—filed briefs supporting a lawsuit to strike down Illinois Digital Asset Tax Act.The tax imposes a 0.2% levy on a digital assets full value each time an Illinois customer trades, transfers or stores it through a broker, even absent any sale or gain—a treatment no other asset or state faces.The DOJ called it discriminatory and Illinois paused the tax until July 2027.　　An unusually broad coalition, spanning the U.S. Justice Department, Wall Street‘s biggest lobby, the national Chamber of Commerce and a who’s-who of crypto firms, has thrown its weight behind a legal challenge to Illinois first-of-its-kind tax on digital asset transactions.　　The groups filed briefs this month in Illinois state court supporting a lawsuit from the Crypto Council for Innovation and the Blockchain Association, which are asking a judge to strike down the states Digital Asset Tax Act and permanently block its enforcement.　　The tax imposes a 0.2% levy on the full value of a digital asset every time an Illinois customer trades, transfers, or stores it through a broker, even when theres no

Yesterday 01:46Industry

Cardano Academy launches on-chain credential practicum

Cardano Academy has partnered with Andamio to launch a practicum that lets participants submit a build or pitch and claim a credential recorded on Cardano after a reviewer accepts their work.　　The Cardano Foundation announced the Cardano Academy Practicum in a Nov. 12 X post, describing a submission-based program for people putting their ideas or development work forward for assessment.　　The Cardano Academy has partnered with @andamio_teams to launch the Cardano Academy Practicum.　　Submit your build or pitch. Once a reviewer accepts it, claim a credential recorded on Cardano.　　Its announcement sets out a sequence: submit the work, receive a reviewer‘s acceptance, then claim the credential. Registration itself does not require participants to hold Cardano’s native ADA token or arrive with a cryptocurrency wallet.　　Cardano Academy credentials follow a review of submitted work　　A project build and a pitch are both eligible submission formats under the Foundation‘s announcement. The credential becomes claimable once a reviewer accepts the submission, placing assessment between the participant’s work and the blockchain record.　　The launch posts wallet requirement is specific to signing up. It does not describe the arrangements for holding a credential after approval, the transaction costs involved in claiming one, or whether those costs are covered for participants.　　Andamios developer documentation

Yesterday 01:26Industry

Arch Lending offers Bitcoin refinancing with up to 2-point cuts

This article has been updated to reflect Archs revised rate offer and potential savings of over $8,000 on a $250,000 refinance.　　Arch Lending has launched a crypto-backed loan refinancing program that it says can cut borrowers existing interest rates by up to two percentage points, with origination fees waived for qualifying customers.　　SummaryArch pays the previous lender directly, allowing eligible borrowers to move collateral without upfront repayment.Loans start at $5,000, with minimums varying by collateral asset and the borrowers jurisdiction.Arch says a $250,000 refinance can save over $8,000 through lower interest and waived fees.Existing lenders margin-call and liquidation rules apply until collateral is released for the transfer.　　In its Nov. 12 announcement to crypto.news, Arch Lending said that eligible borrowers can replace an existing loan without selling their pledged assets or providing extra Bitcoin to complete the switch. Once the replacement loan is established, borrowers can request a larger loan.　　The US-based platform accepts Bitcoin, Ethereum, Solana, XRP, PAX Gold, and Tether Gold as collateral. Its refinancing program uses the same jurisdiction and collateral requirements as its standard loans.　　Bitcoin refinancing removes the need to fund repayment upfront　　For someone whose Bitcoin is already securing a loan, switching lenders requires arranging repayment before the original lender

Yesterday 01:00Industry

Arch Lending launches Bitcoin refinancing with 1-point rate target

Arch Lending has launched a crypto-backed loan refinancing program targeting interest rates at least one percentage point below borrowers existing rates, with origination fees waived for qualifying customers.　　SummaryArch pays the previous lender directly, allowing eligible borrowers to move collateral without upfront repayment.Loans start at $5,000, with minimums varying by collateral asset and the borrowers jurisdiction.Offshore and decentralized loans can qualify if borrowers meet Archs standard lending requirements.Existing lenders margin-call and liquidation rules apply until collateral is released for the transfer.　　Arch Lending said in its Nov. 12 announcement shared with crypto.news that eligible borrowers can replace an existing loan without selling their pledged assets or providing extra Bitcoin to complete the switch. Once the replacement loan is established, borrowers can request a larger loan.　　The US-based platform accepts Bitcoin, Ethereum, Solana, XRP, PAX Gold, and Tether Gold as collateral. Its refinancing program uses the same jurisdiction and collateral requirements as its standard loans.　　Bitcoin refinancing removes the need to fund repayment upfront　　For someone whose Bitcoin is already securing a loan, switching lenders requires arranging repayment before the original lender releases the collateral. Arch says its refinancing desk manages that handoff by paying the lender directly and coordinating receipt of the assets.　　Himanshu Sahay, Archs

Yesterday 01:00Industry

Visa adds Western Unions USDPT to stablecoin settlement

Visa has added Western Unions USDPT stablecoin to its settlement network through a partnership with Anchorage Digital, giving eligible partners another way to pay their VisaNet obligations.　　Anchorage Digitals announcement confirms that Visa and eligible partners can now use USDPT for settlement, making it the first stablecoin issued by the bank to receive support under the collaboration. The agreement creates a framework to consider other Anchorage-issued tokens after the initial launch.　　Visa makes USDPT a native settlement asset　　The arrangement covers payments owed through VisaNet, with Anchorage describing USDPT as a native settlement asset. Support begins with Western Unions token; the announcement does not say that every stablecoin issued by Anchorage has been accepted.　　Dan Roesbery, Visas vice president of global crypto partnerships and go-to-market, said the company wants to give partners more choice in how they settle.　　“Supporting USDPT as a native settlement asset, in partnership with Anchorage, gives them another trusted, institution-grade option,” Roesbery said.　　For Anchorage, the agreement forms part of its stated plan to serve as a settlement bank for stablecoins, combining issuance with custody and infrastructure for moving assets between institutions.　　USDPTs launch announcement identifies Solana as its blockchain and Anchorage Digital Bank N.A. as its issuer. The Visa partnership announcement does

Yesterday 00:58Industry

Tron, Tether and Chainalysis Form a New Crypto-Crime Task Force—Replacing One That Just Collapsed

In briefTron, Tether and Chainalysis launched the Digital Crime Task Force to proactively identify illicit USDT activity on Tron and help law enforcement freeze funds before criminals move them, using Chainalysiss AI-powered tools.It replaces the T3 Financial Crime Unit, a near-identical effort Tron and Tether ran with rival analytics firm TRM Labs that froze $450 million but was quietly disbanded in late August over coordination problems.Swapping TRM for competitor Chainalysis is pointed given the rivalry—Chainalysis sued the U.S. over an ICE contract awarded to TRM.　　Tron, Tether, and blockchain analytics firm Chainalysis have launched a joint effort to hunt down and disrupt criminal activity involving the USDT stablecoin, just weeks after a nearly identical alliance, with a different analytics partner, quietly fell apart.　　Announced Wednesday, the Digital Crime Task Force aims to identify illicit activity involving Tethers USDT on the Tron blockchain and surface it for law enforcement before criminals can move their funds.　　The pitch is a shift from reactive to proactive: rather than waiting for a victim to report a crime or an investigator to flag tainted funds, the group says it will proactively trace criminal networks and coordinate asset freezes, drawing on Chainalysiss intelligence and AI-powered investigative tools. It will

Yesterday 00:36Industry

Securitize launches $100M BUIDL facility backed by Ethena

Securitize has launched a liquidity facility with up to $100 million in capacity for eligible holders of BlackRocks BUIDL fund, allowing exchanges to access supported stablecoins outside traditional market hours with support from Ethena.　　Summary$50 million in initial liquidity consists of equal amounts of USDC and BUIDL.Another $50 million may become available within an hour, subject to capacity and terms.Eligible investors can exchange in both directions, including during weekends when traditional markets close.　　Securitize announced the launch on Nov. 12, describing a service that lets approved investors move between BlackRocks USD Institutional Digital Liquidity Fund and supported stablecoins, including USDC. In its own announcement, Ethena confirmed its support for the facility, which Securitize operates.　　The launch gives holders another way to sell their fund tokens for stablecoins without waiting for banking and settlement systems to reopen. Investors can use the same facility to move supported stablecoins back into BUIDL.　　BUIDL facility starts with $50 million in liquidity　　At launch, the facility holds $25 million in USDC and $25 million in BUIDL, according to Securitize‘s published breakdown. As that liquidity is used, another $50 million can be made available within approximately an hour, subject to the facility’s terms, capacity, and availability.　　The $100 million figure describes total

Yesterday 00:24Industry

Anchorage Digital‘s Stablecoins Can Now Settle Payments on Visa’s Network

In briefAnchorage Digital is working with Visa to let select Anchorage-issued stablecoins settle transactions on VisaNet, starting with Western Unions USDPT, with a framework to add more tokens later.CEO Nathan McCauley pitched the appeal as pairing a stablecoins speed with the backing of a federally regulated bank.The deal advances Anchorage‘s goal of becoming the “settlement bank for stablecoins,” building on its recent role in the U.S.-Mexico corridor, and extends Visa’s stablecoin push.　　Anchorage Digital is extending its stablecoin reach into one of the world‘s largest payment networks, teaming up with Visa to let select Anchorage-issued tokens settle transactions directly on VisaNet, starting with Western Union’s USDPT.　　Under the arrangement announced Thursday, Visa and eligible companies can now use USDPT, a dollar-pegged stablecoin issued and custodied by Anchorage Digital Bank, to settle their obligations on the Visa network.　　Its the first Anchorage-issued token to gain that status, and the companies said the deal establishes a framework to add more of its stablecoins later.　　Predict·EconomyWhich companies will IPO before 2027？　　Anthropic97%YesNo　　Remote6%YesNo　　Celonis6%YesNo　　Rippling5%YesNo　　Ledger5%YesNo　　+24 more outcomes+23 more outcomes　　$625.67K volume　　Jan 1Closes: Jan 1, 2027, 04:59 UTC　　Closes: Jan 1, 2027, 04:59 UTC　　The appeal, Anchorage argues, is pairing the speed of a stablecoin with the backing of a regulated bank. Anchorage operates what

Yesterday 00:01Industry

Tether Gold Gets Clean KPMG Audit Confirming $2.2B in Physical Gold Backing

In briefKPMG issued an unqualified audit opinion on the 2025 financial statements of TG Commodities, the issuer of gold-backed stablecoin Tether Gold (XAUT).The issuer held about 520,089 troy ounces of gold, worth $2.246 billion at the end of 2025, against an equal number of XAUT tokens in issue.The audit follows KPMGs clean opinion on USDT issuer Tether International in August, as Tether moves toward audits across its whole business.　　Tethers gold-backed stablecoin, Tether Gold (XAUT), has completed its first full audit by KPMG, which found the token fully backed by physical gold, the company announced on Thursday.　　KPMG issued an unqualified opinion on the financial statements of TG Commodities, which issues XAUT, for the year ended December 31, 2025. An unqualified, or “clean,” opinion means the auditor found that the statements fairly present the companys financial position, without reservations.　　Tether Gold (XAU₮) Becomes Tethers Second Stablecoin to Complete a Big Four Audit　　As of the end of 2025, TG Commodities held 520,089.350 troy ounces of allocated gold, valued at $2.246 billion, against 520,089.300 XAUT tokens in issue, according to Tether. The gold is held in vaults in Switzerland, and each token represents an ownership interest in gold on specific bars.　　As part of the audit,

2 days agoIndustry

Tether Gold Passes KPMG Audit: Can It Beat Americas Biggest Gold Fund？

KPMG auditors reportedly counted the gold bar by bar. Every ounce matched. On Thursday, Tether Gold (XAU₮), a crypto token backed by that gold, got a clean bill of health.　　Now Tether wants Wall Street‘s gold business. Its target is SPDR Gold Shares (GLD), America’s biggest gold fund. The catch is that most Americans cannot buy XAU₮ from Tether.　　Sponsored　　Sponsored　　What KPMG Found in the Swiss Vaults　　At the end of 2025, KPMG found 520,089.35 ounces of gold, worth $2.25 billion. Tether had issued 520,089.30 tokens. One token equals one ounce.　　The auditor gave an unqualified opinion, the cleanest result there is. Until this year, Tether had never had a full audit of any kind.　　Its CEO is already aiming higher.　　“I firmly believe XAU₮ is on track to become the first true competitor to the gold ETF market,” he said.　　Why Most Americans Are Locked Out　　GLD holds $134.29 billion, according to State Street. That is 39 times XAU₮s $3.44 billion. Anyone with a U.S. brokerage account can buy it.　　Sponsored　　Sponsored　　Americas biggest gold fund vs Tether Gold. Source: BeInCrypto　　XAU₮ is different. Tether Golds terms bar U.S. persons from opening an account. The only exception is a legal class of large institutions and wealthy investors.　　Buying directly also starts at 50

2 days agoIndustry

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