The shutdown could stall progress on the crypto market structure bill, but lawmakers continue to insist that the legislation is on track. Deliberations over the crypto market structure bill between industry executives and US lawmakers hit a fever pitch on Wednesday in a tense meeting, following a leaked proposal from Democrats to impose permissioned requirements on the decentralized finance (DeFi) sector. Democratic senators accused industry executives of acting as an extension of the Republican Party after a leaked Democratic proposal mandating know-your-customer and anti-money laundering regulations on DeFi caused a public outcry, according to Eleanor Terrett, who cited sources at Wednesday’s meeting. The lawmakers reportedly warned industry representatives that continued public outcry over the bill, or specific provisions in the proposed legislation, would slow down the progress of passing regulations into law. Read more
Ken Griffin and Citadel disclosed multimillion-dollar stakes in DeFi Development Corp., signaling rising institutional interest in Solana-linked assets. Ken Griffin, the billionaire founder and CEO of Citadel, has disclosed a 4.5% stake in DeFi Development Corp. (DFDV), a digital asset treasury company focused on accumulating Solana. According to a Schedule 13G filing with the US Securities and Exchange Commission (SEC), Griffin holds just over 1.3 million shares, representing about 4.5% of DeFi Development’s outstanding common stock. Separately, Citadel Advisors LLC and affiliated entities reported ownership of 800,000 DFDV shares, or roughly 2.7% of the company’s outstanding stock. Read more
The STREAMLINE Act would update anti–money laundering rules by lifting decades-old thresholds for transaction reporting, cutting red tape for banks and crypto companies. A group of US senators led by Senate Banking Committee Chair Tim Scott (R-S.C.) has introduced legislation to modernize the Bank Secrecy Act, the foundation of the country’s Anti-Money Laundering (AML) framework. The Bank Secrecy Act, passed in 1970, obliges banks, credit unions, and other financial institutions to help federal authorities detect and prevent financial crimes, including money laundering, terrorist financing, and related illicit activity. The proposed legislation, known as the STREAMLINE Act, would raise the Bank Secrecy Act’s reporting thresholds for the first time since its creation more than 50 years ago. Read more
Escalating tensions between the US and China, Trump digging in on tariffs and Bitcoin traders avoiding long leverage could push BTC price to new lows. Key takeaways: Deteriorating US-China relations, US President Donald Trump’s recent tariff expansion and traders avoiding long leverage are adding pressure to Bitcoin’s downside. Bitcoin could drop below $100,000, but analysts are hopeful that next week’s macroeconomic events will reverse the downtrend. Read more
Google's Willow quantum computer processor was able to map out the features of a molecule 13,000 times faster than a modern supercomputer. Researchers at tech giant Google said they mapped out the structure of a molecule 13,000 times faster than the most powerful “supercomputers” available today, achieving the first verifiable quantum advantage. The experiment used Google’s Willow Quantum processor and “quantum echoes,” a technique that uses targeted waves to image an object in detail, according to Google. The technique targets a single qubit, the basic unit of information storage in quantum computing, with a precise signal, causing it to react. The process is then reversed, allowing the researchers to measure the “echo” or signal that bounces back, Google said. Read more