The Digital Chamber has filed a lawsuit to block Illinois’ upcoming crypto tax. The industry advocacy group argues that the tax unlawfully targets blockchain transactions for discriminatory reasons. Illinois Faces Legal Challenge Over Crypto Tax Law Illinois’ Digital Asset Tax Act (DATA), scheduled to take effect on January 1, 2027, imposes a 0.02% levy on […]
China has launched one of its largest market interventions in years, funneling $2 billion worth of yuan into equities and ETFs tracking semiconductor companies among other tech firms. The move follows a steep correction in Chinese tech stocks, which came to a head on July 17. Why China Intervened in Tech ETFs The Asian country […]
Speculative activity in the Bitcoin market is showing signs of recovery even as spot market participation remains subdued, according to Glassnode’s latest findings. The analytics firm said spot trading activity continues to lack conviction, as Spot Volume fell below the lower statistical band of $4.5 billion, which was indicative of persistently weak liquidity and muted […]
The Head of Digital Assets and Innovation for a $2 trillion asset manager “just said to buy ETH,” commented former BlackRock VP and host of Milk Road Daily, John Gillen, on Tuesday. His statement came in response to a lengthy post on X from Franklin’s Sandy Kaul on the use cases for crypto in agentic […]
A recent auction of 30-year Treasury bonds, sold at a yield of 5.06%, has brought rising long-term US borrowing costs back into focus. Specifically, it has revived concern among certain market observers about how tighter monetary conditions could impact Bitcoin (BTC) and other risky assets, just as investors are getting ready for the Fed’s next […]
Bitcoin momentum is rebuilding, but confirmation has not arrived yet, said analytics platform Swissblock on Monday as BTC tapped a five-week high of $65,700. “Bitcoin has exited its capitulation regime and is once again inside the transition area,” they added. Swissblock identified the current area as “where a new impulse begins, or momentum fades back […]
An XRPL validator has said that he will not vote for another reduction in its account reserves, sparking a community debate over whether lower costs would help adoption or weaken network protections. The dispute has split community members between those who see lower reserves as necessary for easier onboarding and those who argue that it […]
Bitcoin (BTC) continues to trade in a consolidation phase, a little above the $60,000 level. The market is approaching 165 days of testing that crucial price zone despite a rally above $80,000 in May that ultimately failed to sustain momentum, according to analyst Darkfost. The analyst pointed to a lack of fresh liquidity entering the […]
Cross-chain stablecoin bridge, Allbridge Core, suffered a security exploit that resulted in losses of approximately $1.65 million, according to blockchain security firm PeckShield. The firm said the attacker has already bridged the stolen funds from Solana to Ethereum. Allbridge Responds Allbridge confirmed experiencing a security incident and that the protocol has been paused as a […]
American business intelligence firm Strategy has bolstered its financial position by addressing liquidity concerns raised earlier this year. In a July 14 follow-up, the on-chain analytics firm CryptoQuant said the company’s new capital framework has eased short-term financial pressure. The firm, however, noted that questions remain about Strategy’s long-term Bitcoin strategy. The update follows CryptoQuant’s […]