Trump has urged banking groups to “make a good deal” with the crypto industry and said undermining the GENIUS Act is “unacceptable.” US President Donald Trump has taken a shot at banks for stalling the crypto market structure bill from advancing in the Senate over stablecoin yield payments. “The Genius Act is being threatened and undermined by the Banks, and that is unacceptable — We are not going to allow it,” Trump posted on his Truth Social platform on Tuesday, mentioning the GENIUS Act that Congress passed in July to regulate stablecoins. Trump has touted the GENIUS Act as his crowning achievement to attract crypto companies to the US. The law gives stablecoin issuers a path to regulation, but bans them from directly offering yield payments to holders. Read more
Ray Dalio says that gold is a better safe-haven asset in times of conflict compared to Bitcoin, and raised concerns about the cryptocurrency’s lack of privacy. Billionaire investor Ray Dalio has warned against Bitcoin as a long-term store of value and safe-haven asset, arguing that it has little central bank support and has lingering concerns over its privacy limitations and quantum resistance. Dalio dismissed the idea that Bitcoin (BTC) can function as a digital gold, telling the All-In Podcast on Tuesday that “there is only one gold.” "Gold is not a precious metal that's speculated on,” Dalio said, adding it is the “most established money” that is the second-largest reserve currency held by central banks. Read more
Super PACs backed by the crypto industry are expected to spend millions of dollars in the 2026 midterm elections after many of their chosen candidates won in 2024. Voters in North Carolina, Texas and Arkansas will decide on some of the first candidates for the 2026 midterm elections in the United States as primary season kicks off, potentially influencing the future of Congress and crypto legislation. In Texas, Democratic Representative Jasmine Crockett is running for Republican John Cornyn’s US Senate seat for Texas. Crockett, a member of the House of Representatives since 2023, voted for the stablecoin payments bill GENIUS Act in July and FIT21, the previous version of the digital asset market structure bill before the CLARITY Act, which she voted against. Crockett came under scrutiny in 2022 after the political action committee (PAC) Protect Our Future, whose backers included former FTX CEO Sam Bankman-Fried, spent $1 million supporting her run for the US House of Representatives. Web3 Forward, another PA...
In an interview with Natalie Brunell on Coin Stories, Masie described Bitcoin as functional currency in parts of Africa amid rapid inflation and currency debasement. Stafford Masie, executive chairman of Africa Bitcoin Corporation, said Tuesday that Bitcoin functions as everyday money in parts of Africa rather than primarily as a store of value. Speaking to Natalie Brunell on the Coin Stories podcast on Tuesday, Masie said the framing of Bitcoin (BTC) differs sharply across regions. “Where I come from, Bitcoin is money,” he told Brunell, adding that in some circular economies in Africa, merchants “won’t accept dollars — they accept satoshis.” Read more