Here is what happened yesterday in the crypto market:
Senate Advances Stablecoin Bill
The U.S. Senate is poised to move forward with a stablecoin bill, potentially passing it soon. The latest draft includes changes that may garner broader support, though some consumer advocates still express concerns. The bill aims to regulate stablecoin issuers, marking a significant step in digital asset regulation.
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Bitcoin Pauses Near $100K
After a week-long rally, Bitcoin is consolidating near $100,000 as traders take profits. Despite the pause, analysts foresee a broader crypto rally extending into the summer. Altcoins are showing signs of potential gains as Bitcoin’s dominance decreases.
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Eric Trump Highlights Bitcoin as Digital Gold
Eric Trump, son of former U.S. President Donald Trump, expressed his belief in Bitcoin as a store of value, referring to it as “digital gold.” This endorsement adds to the ongoing discussion about Bitcoin’s role in the broader financial landscape.
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Coinbase Faces SEC Probe and Data Breach
The SEC is investigating Coinbase over alleged misstatements of user numbers. Meanwhile, Coinbase also reported a data breach and expects to pay out a large sum to affected customers and offers $20M bug bounty.
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Telegram Shuts Down Darknet Marketplace
Telegram has shut down Haowang Guarantee, a major illicit marketplace that facilitated over $27 billion in stablecoin transactions since 2021. This action follows insights from Elliptic and underscores efforts to combat illicit activities in the crypto space.
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