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BTC Price Guess: 18M HTX Awaits YouCryptocurrency Sector and Banks Reportedly Reached an Agreement, but There Are Still Obstacles to the Clarity Act Tensions between the banking sector and the cryptoc

Cryptocurrency Sector and Banks Reportedly Reached an Agreement, but There Are Still Obstacles to the Clarity Act

Tensions between the banking sector and the cryptocurrency industry over stablecoins are growing in the US.

Trade associations representing different sectors of the American banking industry have sent a letter to the Senate Banking Committee calling for significant changes to the reward and yield mechanisms included in the Tillis-Alsobrooks stablecoin agreement.

According to shared information, banking institutions argued that the current draft language would “allow for circumvention” of stablecoin reward restrictions. Banks stated that the proposed regulation would incentivize customers to increase their stablecoin balances instead of bank deposits.

The letter contained the following statements:

“The proposed language includes exceptions that would allow circumvention of the intended ban, encouraging customers to hold and grow stablecoin balances at the expense of deposits.”

Related News Major Banks Have Updated Their Forecasts on When the Fed Will Cut Interest Rates

The banking sector’s letter is considered one of the strongest warnings yet against the cryptocurrency market structure bill. Industry representatives warned senators that the current consensus on stablecoin reward systems could accelerate deposit outflows from the financial system.

Meanwhile, in Washington, all eyes are on the Senate Banking Committee. It is reported that the committee could begin considering the bill concerning the structure of the cryptocurrency market as early as next week.

The recent stablecoin compromise between Republican Senator Thom Tillis and Democratic Senator Angela Alsobrooks aims to limit stablecoin issuers from offering users direct interest-like returns. However, the banking lobby believes that certain exceptions in the current text could render this ban ineffective.



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Google Chrome has been silently installing a 4GB AI model called Gemini Nano on users’ devices without consent, a researcher found. Summary Researcher Alexander Hanff documented Chrome secretly downlo

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On May 9, Strike CEO Jack Mallers stated in the What Bitcoin Did podcast that Wall Street's large-scale participation in Bitcoin does not threaten its core principles. If Wall Street could 'kill' Bitc

Strike CEO: Wall Street Cannot Threaten Bitcoin, Traditional Financial Institutions' Involvement is 

On May 9, Strike CEO Jack Mallers stated on the What Bitcoin Did podcast that Wall Street's large-scale participation in Bitcoin does not threaten its core principles. If Wall Street could 'kill' Bitc

On May 9, U.S. President Trump stated to the media at the White House on the 8th that the U.S. may resume the 'Freedom Plan' aimed at facilitating the passage of stranded vessels in the Strait of Horm

Trump Proposes 'Enhanced Freedom Plan' to Open Hormuz, White House Awaits Iran's Response

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On May 9, the prediction market Kalshi announced a partnership with the venue Madison Square Garden, becoming its official prediction market partner. The sixth-floor concourse of Madison Square Garden

Kalshi Announces Partnership with Madison Square Garden as Official Prediction Market

BTC Price Guess: 18M HTX Awaits YouHTX Community April Creation ContestEverything Can Be HuobaoThe US Bureau of Labor Statistics has released a solid April jobs report that is fueling US stocks higher

The US Bureau of Labor Statistics has released a solid April jobs report that is fueling US stocks higher, and the Nasdaq Composite is up overall. Payrolls added 115,000 jobs in April, trumping the 65,000 jobs analysts expected, as the unemployment rate held steady at 4.3%. Job gains, which have been concentrated mostly in the healthcare sector, began to broaden to other sectors, with payroll gains in transportation and warehousing and retail. Manufacturing jobs slid, and federal government employment also continued to decline.Job growth has been volatile this year. March data was revised higher by 7,000 to 185,000, an about-face from the newly revised 156,000 jobs lost in February and closer to the blockbuster 160,000 jobs created in January. Additionally, average hourly earnings came in lower than expected on April’s jobs report, increasing 0.2% for the month and 3.6% on an annual basis, compared with respective estimates for 0.3% and 3.8%. The Nasdaq climbed as much as 1.4% on Friday, while the S&P 500 rose 0.79%.Despite the gains on Friday, the jobs report was largely overshadowed by geopolitical events. Crude prices moved higher in after-hours trading on Thursday after military clashes erupted near the Strait of Hormuz. US benchmark West Texas Intermediate crude rose 0.4% after both the US and Iran accused one another of initiating attacks in the region.Also Read: Nvidia’s Market Cap Grows Bigger Than a BRICS Country’s Stock MarketInvestment experts welcomed the solid report, but noted concerns with the labor force’s continued sluggish numbers. The report shows the labor market has been “pretty much stable for a year, year and a half,” Austan Goolsbee, president of the Federal Reserve of Chicago, said in a CNBC interview. “I characterize that we’ve been stable without being good. … The unemployment rate has been stable, the hiring rate has been stable, the layof

The US Bureau of Labor Statistics has released a s

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What to Expect from Bitcoin, ETH, XRP, Solana Options Expiry and US Nonfarm Payrolls Today? Bitcoin ($BTC), Ethereum ($ETH), $XRP, and Solana ($SOL) are falling as the U.S. Navy and Iran trade attacks

What to Expect from Bitcoin, ETH, XRP, Solana Options Expiry and US Nonfarm Payrolls Today?
Bitcoin ($BTC), Ethereum ($ETH), $XRP, and Solana ($SOL) are falling as the U.S. Navy and Iran trade attacks, while President Trump confirms the ceasefire remains in effect. Traders are bracing for volatility as crypto options expiry coincides with the US Nonfarm payrolls and unemployment rate data release today.

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What to Expect from Bitcoin, ETH, XRP, Solana Opti

HTX Community April Creation ContestHTX Creation Challenge — Post and Win 1,500U 💥BTC Price Guess: 18M HTX Awaits You LayerZero Labs has admitted it made a critical security mistake by allowing its de

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LayerZero Labs has admitted it made a critical security mistake by allowing its decentralized verifier network [DVN] to operate in a 1/1 configuration for high-value applications, as several protocols continue migrating away from its infrastructure following April’s rsETH exploit.

In a lengthy statement published on 8 May, the company apologized for its communication around the incident. Also, it acknowledged that its own internal RPC infrastructure used by the LayerZero Labs DVN was compromised during the attack.

“We made a mistake by allowing our DVN to act as a 1/1 DVN for high-value transactions,” the company said. “We didn’t police what our DVN was securing, which created a risk we simply didn’t see.”

The comments mark LayerZero’s clearest concession yet after weeks of criticism from protocols and security researchers following the roughly $292 million rsETH exploit linked to KelpDAO’s LayerZero bridge infrastructure.According to the statement, attackers linked to North Korea’s Lazarus Group compromised internal RPC infrastructure used by the LayerZero Labs DVN. They also launched simultaneous DDoS attacks against external RPC providers.

LayerZero maintained that its core protocol remained unaffected throughout the incident.

The company argued that developers ultimately control their own security assumptions on LayerZero. However, it admitted that allowing 1/1 DVN configurations for production assets created unacceptable risks.

LayerZero also confirmed that its DVN no longer supports 1/1 configurations. The company said all default pathways are now moving toward 5/5 or minimum 3/3 verification setups where possible.

The fallout has already started reshaping bridge preferences across the industry.

KelpDAO became the first major protocol to announce a migration away from LayerZero. It said it would move rsETH cross-chain infrastruct

LayerZero concedes 1/1 DVN mistake as Chainlink ga

BTC Price Guess: 18M HTX Awaits YouHTX Creation Challenge — Post and Win 1,500U 💥MEGA: Real-Time Execution Layer for EthereumWeaker US dollar and odds of Strategic Bitcoin Reserves While Bitcoin deriv

Weaker US dollar and odds of Strategic Bitcoin Reserves
While Bitcoin derivatives show moderate bearishness, two distinct factors support a sustained bull run. The US dollar has weakened against other major fiat currencies over the past two months. Whether intended by the US administration or not, this move reduces incentives to hold US Treasuries, especially given the current high oil prices.The growing US government debt creates an environment favoring scarce assets. Even if the stock market and gold remain the primary options for most investors, Bitcoin tends to benefit from a weaker US dollar.

Regardless of the macroeconomic environment, expectations are rising that the US Strategic Bitcoin Reserve could start adding BTC, and Kevin Warsh is expected to replace Fed Chair Jerome Powell in the near term. Warsh recently reported significant holdings in cryptocurrency assets and companies and has previously expressed pro-Bitcoin views.While still considered a long shot, the path to budget-neutral strategies for acquiring Bitcoin has been cited by US Treasury Secretary Scott Bessent in the past. Consequently, potential outflows from fixed-income investments due to a weaker US dollar and higher inflation increase the odds of sustained bullish momentum in Bitcoin.

The recent outflows from spot Bitcoin ETFs do not necessarily indicate that a bear market is underway, even if top traders’ current positioning signals a lack of confidence in a short-term rally.

Weaker US dollar and odds of Strategic Bitcoin Res

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