US Fed Governor Michael Barr said clearer US rules could help the market grow, but warned that GENIUS Act implementation must still guard against runs, weak reserves and illicit finance. US Federal Reserve Governor Michael Barr said Tuesday that clearer US stablecoin rules could speed the market’s growth, but warned that regulators still need to address money laundering risks, bank run risks and consumer safeguards as they implement the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act. Speaking at a Federalist Society event on stablecoin regulation, Barr said the law provides “needed clarity” for issuers, but that “a great deal will depend on how federal and state regulators implement the statute.” Barr said stablecoins are still used mainly for crypto trading and as a US dollar store of value in some foreign markets, though they could also lower remittance costs, speed up trade finance processing and help firms manage treasury operations. He also highlighted the risk of bad actors...
Extraditions of executives from market makers Vortex, Contrarian, Gotbit and Antier mark the latest step in a multi‑agency effort targeting alleged “market‑manipulation‑as‑a‑service.” Three crypto executives extradited from Singapore appeared in federal court in Oakland on Monday as US prosecutors expanded a wash-trading case that has now charged 10 foreign nationals tied to four crypto market-maker companies. The court appearances mark the latest step in a US crackdown on alleged wash trading in digital asset markets that began with an undercover operation unsealed in October 2024, according to a Tuesday press release from the US Justice Department (DOJ). The DOJ said the cases, which center on Gotbit, Vortex, Antier and Contrarian over conduct dating back to 2018, involve schemes to inflate token prices and volumes through coordinated trading that made assets appear more liquid and in-demand than they really were. Read more
US spot Bitcoin ETFs ended Q1 in the red, with about $500 million of net outflows despite March inflows, as sentiment remained weak amid geopolitical tensions. US spot Bitcoin exchange-traded funds (ETFs) finished the first quarter of 2026 with net outflows, even after March delivered the category’s first monthly inflows of the year. Spot Bitcoin (BTC) ETFs recorded $1.32 billion in March inflows, the first monthly gain of 2026 and the first since October 2025, according to SoSoValue. The inflows were not enough to offset monthly redemptions of $1.61 billion in January and $207 million in February, resulting in roughly $500 million in net outflows in Q1. Read more
A shallower Bitcoin drawdown than previous cycles "indicates a maturing market with reduced volatility and stronger institutional confidence," said Nick Ruck, director of LVRG Research. Bitcoin (BTC) has declined by about 50% this market cycle, far less than in previous cycles, Fidelity Digital Assets said, adding this trend could continue over time. Bitcoin’s post-all-time-high drawdowns have historically been steep, at about 80% to 90%, but this cycle has been about 50%, Fidelity Digital Assets research analyst Zack Wainwright said Tuesday. One can see the “diminishing returns” that have developed from cycle to cycle when looking at Bitcoin’s price performance from the perspective of the previous all-time high, he said. Read more
Block cut 4,000 of its staff in February as part of its AI-driven pivot. A new post by Block's Jack Dorsey has shed light on how the company and others might operate in the future. Block co-founder Jack Dorsey has shared his vision of a future workplace where artificial intelligence could take the role of middle managers, weeks after the company cut around 4,000 employees because of AI. In a blog post on Tuesday, Dorsey and Block’s lead independent director, Roelof Botha, said AI can track projects, identify issues, assign work and share critical information faster than humans, adding that Block is in the “early stages” of transitioning toward a model where the technology performs these tasks. “We're questioning the underlying assumption: that organizations have to be hierarchically organized with humans as the coordination mechanism,” they said. Read more
“There’s a myth in mainstream media and social media that insider trading doesn’t apply in the prediction markets … That is wrong,” said CFTC enforcement director David Miller. The US commodities regulator’s chief enforcement director sent a cautionary message to prediction market insider traders on Tuesday, vowing that violators will face enforcement action. “We are aware of the speculation about insider trading,” CFTC enforcement director David Miller said at a panel at New York University on Tuesday. “We are watching.” Miller, a former federal prosecutor who was appointed to the position on March 2, said the Commission will use its prosecutorial discretion and will not dedicate resources to “trivial” cases. Read more