White House Crypto Council Director Patrick Witt Backs New CLARITY Act Stablecoin Rules

White House Crypto Council Director Patrick Witt has backed new stablecoin rules included in the latest CLARITY Act draft. The changes seek to limit stablecoin rewards while giving the U.S. Treasury more authority if bank deposits come under pressure.  The updated text comes at the same time as a Senate cloture vote, though the legislators remain in discussions on stablecoin returns and bank safeguards.  Ad  Ad  Patrick Witt Defends Stablecoin Reward Rules  Witt said crypto companies have offered stablecoin rewards for years without causing the deposit flight feared by banks. He argued that bank deposits have continued rising rather than falling.  “If the deposit flight myth were true, it would have already happened,” explained Witt. He said data available reveals that deposits are trending upward rather than downward.  Discover more  Trade Crypto Assets  Open Trading Account  Access Premium News  Even so, Section 404 of the CLARITY Act limits stablecoin rewards that resemble interest paid on bank deposits. The new draft also introduces a “circuit breaker” based on anticipated deposit flight.  Under the proposed mechanism, the Treasury secretary could impose further restrictions on stablecoin rewards if community banks lose deposits. If widespread deposit flight should occur within 18 months of enactment, the authority would come into effect.  Witt said the compromise still gives banks

09-15انڈسٹری

Lummis Says Trump Accepts Ethics Curbs to Help Seal CLARITY

Sen. Cynthia Lummis said President Donald Trump agreed to tougher ethics rules for federal officials as part of efforts to secure support for the CLARITY Act. The latest package would also give state attorneys general new enforcement powers.  Ethics rules expand  The Wyoming Republican said in an X thread that the revised text includes the Tillis-Gallego ethics framework and more than 120 requests from Democrats. State attorneys general would be able to enforce the ethics provisions against federal officials.  Related: BTC, ETH Dump Ahead of Tomorrows Crucial CLARITY Act Vote  The rules would apply to the president, vice president, members of Congress, federal judges and their spouses. Lummis said they address potential conflicts involving their investments. She presented the changes as part of the agreement needed to advance the CLARITY Act.  Crypto market provisions  The latest text would give the Treasury Department powers to respond to a surge in stablecoin-related withdrawals from community banks. It would also tighten restrictions on affiliate trading and conflicts of interest involving digital-commodity firms.  The Blockchain Regulatory Certainty Act section now focuses on Bank Secrecy Act requirements and civil enforcement. The bill also outlines consumer protections and safeguards for developers.  Republicans have described the revised package as their “last, best and final” offer

09-15انڈسٹری

Aave V4 proposal would put DAO funds first in line to absorb lending losses

Aave V4 lenders supplying wrapped Ether (WETH), USDC or USDT to its Core liquidity Hub on Ethereum would receive a bad-debt backstop under a Sept. 11 proposal from TokenLogic. The Umbrella plan would put Aaves DAO first in absorbing losses, followed by volunteer underwriters, while limiting this initial coverage to those three lending markets.  Related Asset Aave #38 AAVE · $132.36 24-hour change: up 4.60% Loading price history… 24H Up 4.60% 7D Down 0.12% 30D Up 52.86%  The proposed underwriting targets are 800 ETH for Core WETH, 400,000 USDC for Core USDC and 400,000 USDT for Core USDT. TokenLogic sized them for six to eight weeks of expected loan growth. They are targets for a proposed configuration, not balances already committed to protecting lenders.  For suppliers, the boundary is the specific reserve, or asset pool, receiving their deposit. Coverage for Core USDC would not extend to USDC supplied to another Hub, even though the token is the same. Capital allocated to one Hub asset cannot clear another reserves deficit.  Related Asset WETH WETH · $3,588.42 24-hour change: up 1.27%  Who would absorb losses?  Bad debt arises when liquidation exhausts a borrower‘s collateral but leaves debt unpaid. Under the proposed framework, Aave’s DAO would absorb an initial

09-15انڈسٹری

Swiss Bitcoin Pay shuts down servers as hacker gains access to customer info

Swiss Bitcoin Pay shut down its entire server infrastructure on Monday after concluding that an intruder had probably reached its internal systems.   The firm is warning that customer email addresses, Bitcoin addresses, bank IBANs, transaction histories and hashed passwords may have been exposed. Despite this, the company says no customer money is at risk.  Why did Swiss Bitcoin Pay take its servers offline?  Swiss Bitcoin Pay revealed on its official account on X that the team is still working out what it is dealing with after a malicious user reportedly gained access to the firms internal systems. The post stated that the servers were being shut down “as a precaution” during the investigation.  Discover more  NEWS  Currencies & Foreign Exchange  finance  Swiss Bitcoin Pay has not said how many customers are affected, how the attacker got in, or whether data was copied out or merely viewed. It has also not given a date for the resumption of its services.  Swiss Bitcoin Pays non-custodial design functions by letting payments pass straight from customer to merchant. With this system, customer funds are completely walled off from the compromised systems, and no unauthorized Bitcoin movements have been identified.  However, in a follow-up reply on X, Swiss Bitcoin Pay explained that it does

09-15انڈسٹری

Balancer Proposes Shutting Down and Returning Its $9 Million Treasury to BAL Holders

Holders would burn BAL for a pro-rata share of the treasury starting May 2027. Pools move to withdrawals-only on Oct. 30. BALs market cap is $7.7 million.  Balancer would stop operating and hand its treasury back to token holders under a proposal posted to the protocols governance forum on Monday. The post cancels the buyback token holders approved in April and replaces it with a redemption that burns BAL for treasury assets.  The treasury is worth more than the token. Balancer‘s managed treasury is at least $9 million at current prices, the proposal says, citing the figure reported by treasury manager kpk. BAL’s market capitalization is $7.71 million, according to CoinGecko. The proposal excludes BAL itself from the distribution, so redeemers would receive the other assets the DAO holds, in kind and pro rata.  The author is Marcus Hardt, who was added to Balancers Treasury Council and to the Foundation and OpCo director multisigs under BIP-918, the April restructuring. A Snapshot vote is scheduled for Sept. 25 to 29, with a quorum of 5 million BAL. The proposal asks for a winddown budget of $150,000 from Nov. 1 to May 2027, $30,000 from then to a final sweep, and a $220,000 reserve drawn

09-15انڈسٹری

Banks and state attorneys general challenge CLARITY Act ahead of vote

Eight banking associations and 17 state attorneys general have challenged parts of the CLARITY Act before a Sep. 15 procedural vote that requires 60 Senate votes.  Eight banking associations wrote to Senate Majority Leader John Thune and Senate Minority Leader Chuck Schumer on Sep. 14, requesting changes to the CLARITY Act before the Senate considers whether to advance it.  Although the associations supported creating lasting rules for digital assets, they argued that the current language could let crypto companies offer stablecoin rewards that function like interest on bank deposits. Their requests center on Section 10404, which covers payments and incentives linked to payment stablecoins.  The banking letter adds another dispute to the Senate negotiations as lawmakers try to gather the 60 votes needed to proceed. Separately, a coalition led by New York Attorney General Letitia James has warned that federal preemption provisions could restrict state securities enforcement and make it harder to pursue crypto fraud.  Banks say stablecoin rewards could drain deposits  Bank deposits fund lending to households, farmers, small businesses, and local communities, the associations said. In their view, stablecoins that offer incentives similar to deposit interest could encourage customers to move money out of regulated banks.  “Deposits are the foundation of the banking system,”

09-15انڈسٹری

AMD Stock Drops Below $500 Despite Bullish Outlook

TLDRAMD stock fell about 5% on Monday, slipping below the $500 level as semiconductor shares weakened.AMD sees its AI-related market opportunity reaching about $2 trillion by 2030.The company expects its data-center business to double in 2027 and reach roughly $70 billion in sales.Supply constraints, insider selling and concerns over technology spending are adding near-term pressure.The $530 level remains a key resistance zone, while support sits near $463.  AMD stock fell about 5% on Monday, dropping below $500 after last week‘s rally lost momentum. The pullback came as investors reassessed semiconductor shares and the pace of technology spending. The decline followed strong gains tied to comments from CFO Jean Hu about AMD’s long-term growth opportunity.  Advanced Micro Devices, Inc., AMD  Insider selling also drew attention during the latest move. Such transactions do not always signal weaker business conditions, but sales near high valuations can make investors more cautious. AMD stock has advanced strongly this year, leaving traders focused on whether earnings growth can support the current valuation. That backdrop has increased attention on valuation, earnings execution, and the timing of growth.  Discover more  Access Premium News  Compare Exchange Rates  Deploy Cloud Servers  AMD Targets $2 Trillion AI Market  AMD estimates that its AI-related market could reach about $2 trillion by

09-15انڈسٹری

Three Signals to Watch as Solana Pushes 24/7 Tokenized Stock Trading

Tokenized stocks may give Solana a real-world use case, but network activity alone does not guarantee stronger SOL demand.  Solana is gaining attention as tokenized stocks bring trading onto the blockchain outside traditional market hours, with CryptoRus pointing to after-hours activity and more than 727,000 holders as signs to watch.  But the bigger question is whether that usage can spread across Solana‘s network and eventually show up in SOL’s price.  Solanas After-Hours Stock Market Faces a Token Test  CryptoRus argues that tokenized equities give crypto a practical use case because markets can keep trading after Wall Street closes. Solana says 63% of tokenized-equity activity on its network came after the closing bell, while the number of holders has passed 727,000.  That does not, by itself, prove lasting demand for SOL. As the analysis account puts it, “The decision now is whether Solana‘s activity becomes durable network growth, and whether SOL’s chart begins to reflect it.”  One way to test that broader story is through chain TVL, or the value held across decentralized applications on a network. Solana‘s TVL was up 6.6% to $5.86 billion, compared with Ethereum at $49.97 billion after a 56% increase. BSC, Base, Tron and Bitcoin also posted gains similar to Solana’s, at

09-15انڈسٹری

Trump Says He Has Criminal Power Over AI Companies: Should Investors Worry?

President Donald Trump says his administration already holds criminal and regulatory power over AI companies. He made the claim while arguing the industry needs no guardrail beyond himself.  He posted it minutes after Mondays opening bell, into a market that was already selling AI stocks.  Sponsored  Sponsored  A Boast That Reads Like a Warning  The message ran on Truth Social and opened with a claim about presidential oversight.  “The only control or ‘guardrails’ that AI needs is a STRONG AND SMART (High IQ!) PRESIDENT, and the U.S.A. has that, in spades! … We already have tremendous CRIMINAL and REGULATORY power over these companies!” Trump said.  No new power was announced. Federal prosecutors can already charge a company, and regulators already hold authority over the sector.  What changed is that a president chose to brandish that leverage while defending the same firms. For investors, leverage over the firms holding up the AI trade points the wrong way.  Why the Claim Did Not Lift AI Stocks  The Nasdaq Composite fell 0.85% on Monday, while the S” Trump said in the post.  Beijing rejected the wider framing. Spokesperson Guo Jiakun said fearmongering and vicious competition serve no ones interest.  BREAKING: China rejects calls from U.S. tech leaders to slow AI development, blasting the warnings as

09-15انڈسٹری

Zcash: Will $13.65M whale buying push ZEC price toward $1,500?

Zcash whale accumulation outlook strengthened, with a $13.65 million position complementing aggressive spot-market buying throughout the latest price recovery.  According to Onchain Lens, one whale accumulated roughly 12.87K ZEC, worth around $13.65 million, from four major exchanges over the past week.  Notably, the purchases originated from Binance, OKX, Kraken, and Gate, reflecting accumulation across several liquidity platforms. The whale later transferred the 12.86K ZEC into a fresh wallet, completing the broader accumulation sequence.  Therefore, the activity removed a sizable position outside the exchanges where the whale initially acquired it. Besides, the accumulation also arrived as ZEC attempted to stabilize after its latest price pullback.  Spot buyers back the whale activity  Additionally, whale accumulation activity did not stand alone, as the broader spot-market activity supported the accumulation picture.  The Spot Taker CVD remained taker-buy dominant, providing another demand element alongside the whale accumulation. Generally, this metric usually tracks whether aggressive market buyers or sellers control the executed spot volume over the measured period.  The buyer dominance implied that the market participants increasingly crossed the spread to acquire ZEC rather than awaiting lower prices. Crucially, such activity broadened the demand picture beyond one whales purchases across the centralized exchanges.  The whale accumulation reflected large-holder conviction, while Spot Taker CVD on

09-15انڈسٹری
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