Author: Monicah W

The U.S. Congress is moving forward with efforts to regulate the cryptocurrency industry, with a particular focus on stablecoins. A new stablecoin bill has been introduced in the House of Representatives, building on previous legislative efforts. This bill aims to provide clearer guidelines on how companies can issue dollar-denominated digital tokens and set the stage for broader crypto oversight.

House Version of Stablecoin Bill Released

The U.S. House of Representatives has moved forward in digital asset regulation efforts after it published its stablecoin bill text to the public. The two congressmen, Bryan Steil and French Hill introduced stablecoin legislation, that dictates rules for digital tokens which bind their value to the U.S. dollar. 

Steil who leads the Financial Services Committee crypto panel stated the bill functions to unite stablecoin legislative frameworks between the House and Senate.

The legislation known as the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE Act) follows Congress’ ongoing development of digital asset regulations. According to Hill the bill constitutes part of an extensive program to establish regulatory clarity for cryptocurrency operations. He stated that the bill aims to establish financial regulations which require stablecoin companies to maintain transparency while protecting consumers and the system.

Senate Stablecoin Bill Moves Forward

There has been some progress made on the regulation of stablecoins by the Senate as the bill was moved to the Banking Committee where it enjoyed bipartisan support. This bill has made its way to the Senate floor, awaiting the senate action. Rep. 

Representative Tom Emmer, a crypto supporter in Congress, noted that even though the two bills are somewhat similar but have distinct features, such differences are not significant and can be sorted out as the bills progressed through the legislative procedure.

Lawmakers are looking forward to passing the stablecoin laws in the next few weeks especially following US President Donald Trump directive on stablecoin regulation. Emmer remained optimistic that the bill will be finished by August. This momentum is part of a wider effort in Congress to provide more stability in the regulation of cryptocurrencies so that companies and users have better frameworks to follow.

Efforts to Clarify Crypto Asset Regulations

Additionally, Emmer also reintroduced the Securities Clarity Act as another bill targeting how cryptocurrencies fit into the domain of securities. 

This bill, sponsored with republican partner Darren Soto, is to clarify legal uncertainty existing in the United States concerning the qualification of digital assets under the securities law. Emmer thus urged for better formalism saying that business requires legal predictability to the effect that they are able to conduct their operations within the legal framework.

Emmer’s actions are in line with other pieces of legislation that have been made to determine how digital assets should be regulated within the U.S. financial system. These steps are regarded as crucial in offering that legal certainty that many cryptocurrencies and blockchain start-ups have claimed to need to enhance business growth and development.

Wyoming and Other States Enter the Stablecoin Market

As federal lawmakers push forward with stablecoin regulations, states are also taking steps to position themselves as leaders in the crypto space. Wyoming, in particular, is moving toward launching its own state-backed stablecoin. 

Governor Mark Gordon has announced plans to issue a stablecoin fully backed by U.S. dollar reserves, aiming to provide a fast, low-cost alternative for digital payments.

The state’s move is part of a broader trend, with other companies and states working on their own stablecoin projects. Custodia and Vantage Bank, for example, recently launched the Avit stablecoin, backed by U.S. dollar reserves and based on the Ethereum blockchain. These efforts reflect the growing interest in stablecoins as a way to bridge the gap between traditional financial systems and the emerging digital economy.

The post US Congress Accelerates Crypto Oversight with New Stablecoin Bill appeared first on CoinGape.

Shiba Inu price secured a hotspot on crypto traders’ and investors’ radars this Thursday by showcasing the potential for massive gains ahead. Primarily against the backdrop of a whopping 60,000% surge in the SHIB burn rate and bullish price pattern formations, the meme coin is signaling an imminent rally. Notably, SHIB price is currently trading at the $0.000014 level, whilst numerous renowned market analysts have predicted that a bull run is right over the horizon.

Shiba Inu Price Eyes 2x Gains? Analyst Predicts Amid Massive Burn Surge

A recent X post by crypto market trader and analyst ‘World Of Charts’ revealed that Shiba Inu price is eyeing 2x gains ahead. This bullish prediction is attributed to the meme coin showcasing the potential for a price rally with recent formations. As per the analyst, the coin’s price is currently trading in a descending channel range. A sustained breakout above the upper trendline in this formation cements the chances of a bull run.

For context, a descending channel pattern is a bearish formation characterized by two parallel trendlines sloping downward. Nevertheless, the analyst believes that 2x gains are possible, given that a sustained breakout above the upper trendline holds. This bullish projection promptly echoed a huge market buzz, with the latest burn statistics further bolstering investor sentiments.

Burn Rate Shoots Up 60,000% As Over 1B Coins Destroyed

According to Shibburn’s data on March 27, the SHIB burn rate surged by a whopping 57,291.91% intraday. Over 1 billion coins were permanently removed from the asset’s circulating supply in the past 24 hours.

As an upshot, bullish market sentiments surrounding the meme coin‘s price gained additional weight. Crypto market traders and investors anticipate bolstered SHIB price trajectories due to the constant hits to the supply, mirroring the law of supply and demand.

Shiba Inu Price Overview

Overall, the latest market stats have ushered in a remarkable bullish sentiment about the meme crypto’s future price aspects.

However, Shiba Inu coin’s price is currently down 1% from yesterday and trading at $0.00001446. Its intraday low and high were $0.00001408 and $0.00001561, respectively. Notably, the meme token is up nearly 13% over the week. The broader bullish action, coupled with recent burn metrics and price chart formations, further indicates that a rally is possible in the long term.

Meanwhile, another renowned market trader, Javon Marks, took the stage amid these bullish developments to project a bullish outlook for price. Javon conveyed that the token’s price is starting to return with signs of strength. A potential rally to the $0.000081 price target also awaits, per the analyst.

The post Shiba Inu Price Eyes 2x Gains As SHIB Burn Rate Shoots 60,000% appeared first on CoinGape.

Dogecoin price has been showing major strength recently with more than 14% gains on the weekly chart and eyeing a potential breakout above $0.21, after which it can kickstart rally to $2 for another 10x gains. Furthermore, Elon Musk has once again teased DOGE, sharing a Ghibli Anime character of his from a famour scene from “The Lion King”.

Dogecoin Price Eyes A 10x Breakout Ahead

In the last 24 hours, the Dogecoin price has surged another 4%, moving to $0.205 with its market cap just touching $30 billion. Additionally, the daily trading volumes have surged more than 32%, crossing $2 billion showing a strong bullish sentiment aong traders.

Additionally, the Coinglass data shows that the DOGE futures open interest is also up 4%, moving above $2 billion, while the 24-hour liquidations have soared to $13.82 million. Popular crypto analyst CryptoELITES has cited the formation of a cup-and-handle chart pattern, wherein the DOGE price is on the move to complete the cup pattern. As a result, he expects the meme coin to register 10x gains from here onwards.

Some traders also expect the DOGE price rally to continue to $8 as the meme coin breaks past the three-month trendline.

DOGE SuperTrend Indicator

Crypto analyst Ali Martinez has highlighted a potential bullish phase for Dogecoin (DOGE) based on the SuperTrend indicator. According to Martinez, the popular meme coin could enter a significant upward trend if it manages to break through the critical resistance level of $0.21.

The SuperTrend indicator usually helps to identify trend reversals and potential breakout points. Thus, surpassing this key threshold of $0.21 Dogecoin price could signal renewed investor momentum for the meme coin.

Elon Musk Teases the DOGE Ghibli Anime

In a parody of the famous scene from Disney’s “The Lion King,” Elon Musk once again teases Dogecoin with the much popular Ghibli Anime character. Instead of a lion cub, the character is holding up a Shiba Inu dog – the mascot of the Dogecoin cryptocurrency.

Theme of the day pic.twitter.com/2ioG0StAxL

— Elon Musk (@elonmusk) March 26, 2025

The animated image is reminiscent of Studio Ghibli. The Ghibli Animes are seeing massive popularity recently, and Elon Musk jumping into the trend with DOGE, could provide further catalysts for the meme coin. Furthermore, the Dogecoin price prediction charts show a probable consolidation above $0.20 for the month of April.

The post Dogecoin Price Eyes 10x Breakout After Elon Musk Ghibli Anime appeared first on CoinGape.

The post Bitcoin And Altcoin News: 3 Reasons Markets May Be Turning Bearish appeared first on Coinpedia Fintech News

The cryptocurrency market is currently stuck in a range, with Bitcoin still attempting to rise above the crucial $90k mark. Meanwhile, the majority of altcoins are trying to recover from recent losses. Experts are noticing an interesting shift, as altcoins begin to break trends and take the lead. For months, Bitcoin was the dominant force, but as it slowed down, altcoins started to drive the market’s correction.

However, Matt Bartolini, head of SPDR Americas Research at State Street Global Advisors, recently discussed risks facing the markets, especially in light of the current economic climate. Here are three key reasons why markets may be turning bearish:

Weakened Consumer Confidence: Consumer confidence dropped to its lowest point since 2021, hitting 92.9 in March. This suggests that Americans are feeling uneasy about the economy, and if spending slows down, it could hurt the market, especially in the consumer sector. Consumer discretionary stocks in the S&P 500 are down 9% this year, compared to a 2% decline in the overall market.

Bearish Positioning in Consumer Discretionary: There are signs of a bearish outlook in the consumer discretionary sector, with $800 million in outflows in March alone. Options data also shows a higher number of puts compared to calls, and short interest is rising. A lot of this bearish sentiment comes from poor performance in stocks like Tesla and broader economic factors.

• Also Read :
•   Four Reasons Why XRP Price May Hit $20 Soon
•   ,

Uncertainty in Economic Data: Worries over inflation and weak economic data, like GDP forecasts from the Atlanta Fed, are also affecting market sentiment. While some sectors, like healthcare and insurance, are doing better, overall economic challenges and tariff impacts are making investors more cautious. However, banks are benefiting from widening interest margins and have seen positive inflows.

The post Bitcoin And Altcoin News: 3 Reasons Markets May Be Turning Bearish appeared first on Coinpedia Fintech News
The cryptocurrency market is currently stuck in a range, with Bitcoin still attempting to rise above the crucial $90k mark. Meanwhile, the majority of altcoins are trying to recover from recent losses. Experts are noticing an interesting shift, as altcoins begin to break trends and take the lead. For months, Bitcoin was the dominant force, …

The post Hyperliquid JELLY Manipulation Breakdown: How a 500% Pump Nearly Cost $12M appeared first on Coinpedia Fintech News

Hyperliquid, a decentralized exchange, faced a big problem when the price of meme coin JELLYJELLY suddenly jumped by 500%. It looked like someone was manipulating the market, putting the exchange at risk of losing $12 million. But before things got worse, Hyperliquid’s team stepped in, fixed the issue, and turned the loss into a $700K profit. To stop any more trouble, they shut down trading for JELLYJELLY.

How One Whale Nearly Broke the System

The chaos started when a trader holding 124.6 million JELLYJELLY tokens, worth $4.5 million, placed an $8 million short bet on Hyperliquid. This forced the platform’s liquidity vault to take on the risk. But then, another wallet likely controlled by the same trader opened a massive long position at the same time. This caused JELLYJELLY’s price to skyrocket, leading to mass liquidations and huge profits for the trader. Arkham later revealed that this was a deliberate strategy to exploit leverage and drain funds from Hyperliquid.

Hyperliquid just got exploited. What happened?

A trader deposited $7.167M on 3 separate Hyperliquid accounts within 5 minutes of each other. He then made leveraged trades on an illiquid coin, JELLYJELLY.

However, he ended up losing money, and is down almost $1M unless… pic.twitter.com/uNyMwLS5Sc

— Arkham (@arkham) March 26, 2025

But the plan backfired when the trader’s accounts were restricted to reduce-only orders. This meant they could no longer open new trades and had to start selling off tokens from the first account to recover some of their funds, despite still having millions in unrealized gains.

The attacker’s last withdrawal was at 12:43 UTC. However, he continued to attempt withdrawals – but was unable to, since his account was restricted to reduce-only orders at 12:50 UTC.

However, his accounts still had millions of dollars in unrealized PnL.

Instead of withdrawing,… pic.twitter.com/T9XcL35rCr

— Arkham (@arkham) March 26, 2025

As JELLYJELLY’s price kept climbing, Hyperliquid’s liquidity vault faced the risk of a massive wipeout. If the token’s market cap kept rising, the vault could have lost everything. Seeing the surge in trading, major exchanges like Binance and OKX stepped in, listing perpetual futures for JELLYJELLY to capitalize on the hype.

Hyperliquid Pulls the Plug

With the situation escalating, Hyperliquid validators stepped in and reset JELLYJELLY’s price to $0.0095—the level where the whale had originally placed their short position. This allowed the platform to liquidate 392 million JELLYJELLY tokens, converting a multi-million-dollar disaster into a manageable $703K profit.

However, to prevent further manipulation, Hyperliquid immediately closed all open JELLYJELLY positions and removed the token from its platform. The team also promised to reimburse affected users, with compensation set to be distributed automatically, except for flagged addresses suspected of being involved in the scheme.

A Blow to Hyperliquid’s Reputation?

Hyperliquid’s response to the crisis drew mixed reactions. Some praised its quick action, while critics like Bitget CEO Gracy Chen argued it acted more like a centralized exchange. BitMEX co-founder Arthur Hayes also questioned the handling of the situation.

This marks Hyperliquid’s second major liquidity scare in just two weeks. Earlier, a whale’s $200 million Ethereum long liquidation caused a $4 million loss for its liquidity vault. The repeated turmoil has shaken confidence, sending Hyperliquid’s native token, HYPE, down over 12% in a day and over 30% for the month.

The post Hyperliquid JELLY Manipulation Breakdown: How a 500% Pump Nearly Cost $12M appeared first on Coinpedia Fintech News
Hyperliquid, a decentralized exchange, faced a big problem when the price of meme coin JELLYJELLY suddenly jumped by 500%. It looked like someone was manipulating the market, putting the exchange at risk of losing $12 million. But before things got worse, Hyperliquid’s team stepped in, fixed the issue, and turned the loss into a $700K …

The post Donald Trump May End IRS DeFi Tax Rule After Senate Vote appeared first on Coinpedia Fintech News

A major tax rule targeting decentralized finance (DeFi) could soon be wiped out, as U.S. President Donald Trump

Donald Trump

Donald Trump is an American former president politician, businessman, and media personality, who served as the 45th president of the U.S. between 2017 to 2021. Trump earned a Bachelor of science in economics from the University of Pennsylvania in 1968. Trump won the 2016 presidential election as the Republican Party nominee against Democratic Party nominee Hillary Clinton while losing the popular vote. As president, Trump ordered a travel ban on citizens from several Muslim-majority countries, diverted military funding toward building a wall on the U.S.–Mexico border, and implemented a family separation policy. Trump has remained a prominent figure in the Republican Party and is considered a likely candidate for the 2024 presidential election

President

is expected to sign a resolution repealing it. The rule, introduced during the Biden administration, required DeFi platforms to report crypto transactions to the IRS, much like traditional financial institutions.

3/ Next up? The CRA heads to @realDonaldTrump for signature – a milestone that would officially roll back the IRS’ misguided “DeFi Broker” rulemaking, and formally protect DeFi innovators in the United States.

— DeFi Education Fund (@fund_defi) March 27, 2025

Senate Votes to Overturn Crypto Reporting Requirements

The Senate voted 70-28 in favor of repealing the rule, following a similar decision by the House earlier this month. The legislation had been widely criticized by the crypto community for being impractical and harmful to innovation. Supporters of the repeal argue that DeFi platforms operate differently from centralized financial entities and should not be subjected to the same reporting rules.

Critics Say the Rule Was Unworkable

Crypto advocacy groups, including the Blockchain Association, praised the Senate’s decision, calling it a victory for DeFi innovation. 

Thank you, @SenTedCruz, @RepMikeCarey and all of the members who voted to strike down this rule.

Your leadership will ensure American innovation in crypto and DeFi thrives.

We look forward to President @realDonaldTrump’s final signature to take this rule off the books for good. https://t.co/e0de4b5Sfd

— Kristin Smith (@KMSmithDC) March 27, 2025

Kristin Smith, CEO of the Blockchain Association, expressed gratitude to Senator Ted Cruz, Representative Mike Carey, and other lawmakers for voting to overturn a rule that could have restricted crypto and DeFi innovation. She emphasized that their leadership helps secure the future of digital assets in the U.S. and is now looking forward to Donald Trump’s final approval to scrap it permanently.

However, some experts argued that the rule was unrealistic and would have placed excessive burdens on decentralized platforms, making compliance nearly impossible.

However, opponents of the repeal, such as Democratic Representative Lloyd Doggett, warned that removing the rule could open doors for tax evasion and illicit financial activities. He claimed that keeping the regulation in place would have helped prevent wealthy investors from exploiting tax loopholes.

What’s Next?

With Trump expected to approve the repeal, the rule will soon be off the books. The decision highlights the shifting political landscape around crypto regulation as the industry gains stronger support in Washington. For now, DeFi platforms can breathe a sigh of relief, knowing they won’t have to comply with the IRS reporting requirements that many saw as an existential threat to the sector.

The post Donald Trump May End IRS DeFi Tax Rule After Senate Vote appeared first on Coinpedia Fintech News
A major tax rule targeting decentralized finance (DeFi) could soon be wiped out, as U.S. President is expected to sign a resolution repealing it. The rule, introduced during the Biden administration, required DeFi platforms to report crypto transactions to the IRS, much like traditional financial institutions. 3/ Next up? The CRA heads to @realDonaldTrump for …

The post Senate Overturns IRS DeFi Rule – Now in Trump’s Hands appeared first on Coinpedia Fintech News

In a 70-28 vote, the U.S. Senate has approved a resolution to repeal the IRS’s controversial DeFi broker rule. The rule, which aimed to impose stricter tax reporting requirements on decentralized finance (DeFi) transactions, faced strong opposition from the crypto community. With the Senate’s decision, the resolution now moves to President Trump, who will decide whether to sign or veto it. The outcome could significantly impact the future of DeFi regulations in the U.S.

Contine To Read

The post Senate Overturns IRS DeFi Rule – Now in Trump’s Hands appeared first on Coinpedia Fintech News
In a 70-28 vote, the U.S. Senate has approved a resolution to repeal the IRS’s controversial DeFi broker rule. The rule, which aimed to impose stricter tax reporting requirements on decentralized finance (DeFi) transactions, faced strong opposition from the crypto community. With the Senate’s decision, the resolution now moves to President Trump, who will decide …

The post Pocketcoin (PKOIN) Soars: 30% Staking Returns Amid Crypto Slump appeared first on Coinpedia Fintech News

While cryptocurrency markets continue to experience volatility and speculation, Pocketcoin (PKOIN) charts a different course. This proof-of-stake cryptocurrency has become a distinct name in the digital asset space, offering concrete utility and notable returns during market uncertainty. The native token of Bastyon, a blockchain-based social and video platform with integrated mini-apps, PKOIN powers an advertising, content creation, and decentralized commerce ecosystem.

Unlike most cryptocurrencies that depend heavily on speculative trading, PKOIN is a functional utility token with multiple real-world applications. The crypto world now seeks assets with genuine utility beyond mere tokenization, and PKOIN represents this shift.

A Multifaceted Utility Token

PKOIN‘s utility is more than simple transactions; it integrates thoroughly into the Bastyon ecosystem. Advertisers can reach Bastyon’s user base of 1.66 million unique monthly visitors to promote content at a competitive cost-per-mille (CPM) rate of $0.28. This cost-effective alternative to traditional advertising platforms offers clear savings while connecting to an engaged audience, creating value for both advertisers and the platform.

The utility token provides a straightforward monetization model for content creators that competes with established platforms like Patreon. Creators can set subscription levels and gate content, with subscribers paying in PKOIN to access exclusive material. The key difference: unlike centralized platforms that often take substantial cuts, creators on Bastyon keep 100% of earnings. This clear advantage encourages quality content production and may attract new creators to the platform.

The token also serves secure communications and payments, addressing common concerns about data privacy and financial control. Bastyon’s encrypted chat service enables direct, peer-to-peer PKOIN transactions, improving users’ privacy and security. This feature combines secure communication with cryptocurrency payments, offering practical value in today’s privacy-conscious digital world.

User Engagement and Market Position

PKOIN’s adoption metrics show steady growth and active user engagement, suggesting a solid foundation for expansion. On Google Play, the Bastyon app registers 172,000 active devices from 176 countries, maintaining a 4.3-star rating. This global reach shows the platform’s appeal across various markets. The iOS version has reached 54,600 downloads in less than a year. In contrast, users have downloaded the desktop application 46,352 times from GitHub, showing a multi-platform strategy accommodating different user preferences.

These numbers reflect substantial user activity, a key metric for digital platform success. Visitors to the Bastyon platform spend an average of five sessions per month. This engagement proves especially valuable for advertisers and content creators, suggesting an active user base that may generate higher conversion rates and meaningful interactions.

Compared to similar projects, PKOIN has potential. Despite having only 1.58 times the traffic of Steemit, a recognized blockchain-based blogging platform, the utility token’s market cap measures 16.3 times smaller. This gap suggests room for growth and value increases as the project expands its user base and applications.

Staking and Economic Structure

One of PKOIN’s standout features is its staking model, which rewards holders with a 30% annual return. This high yield distinguishes PKOIN in the cryptocurrency sector, offering a clear incentive for long-term holding and network participation. In a market where many tokens provide minimal returns, PKOIN’s staking model presents a practical option for investors seeking passive income.

The proof-of-stake consensus mechanism rewards token holders while enhancing network security and stability. The incentive to stake tokens helps ensure a distributed and robust network, reducing centralization risks. This model provides an energy-efficient alternative to proof-of-work cryptocurrencies, addressing environmental concerns about blockchain technology.

This economic structure creates a positive cycle that can drive sustained growth for the PKOIN ecosystem. More users staking tokens results in a more secure and valuable network, potentially increasing demand for the utility token. With that, the high staking returns offer protection against market volatility, providing holders with steady income even during downturns.

Future Development and Ecosystem Growth

PKOIN’s roadmap outlines several developments aimed at expanding adoption and utility. The expansion of Barteron, a decentralized marketplace, will allow users to buy and sell goods using the platform, adding practical value to the token. This application connects digital assets with physical commerce, potentially speeding the token’s adoption beyond crypto enthusiasts into broader use.

The development of a mini-app ecosystem on Bastyon opens another growth path, which could transform the platform into a diverse digital marketplace. Enabling developers to create applications that use PKOIN can expand its applications beyond social networking and content creation. This could lead to the generation of various services powered by PKOIN

The introduction of Wrapped PKOIN (WPKOIN) aims to improve accessibility by enabling PKOIN transactions on popular blockchain networks like Ethereum and Binance Smart Chain. This change could increase PKOIN’s liquidity and exposure to broader decentralized finance (DeFi) applications and user markets, putting PKOIN at the lead of upcoming blockchain adoption and securing its place in digital finance and communication.

The post Pocketcoin (PKOIN) Soars: 30% Staking Returns Amid Crypto Slump appeared first on Coinpedia Fintech News
While cryptocurrency markets continue to experience volatility and speculation, Pocketcoin (PKOIN) charts a different course. This proof-of-stake cryptocurrency has become a distinct name in the digital asset space, offering concrete utility and notable returns during market uncertainty. The native token of Bastyon, a blockchain-based social and video platform with integrated mini-apps, PKOIN powers an advertising, …