New Delaware Stablecoin Bill Wants to Make the State a Leader

New York lawmakers have introduced Assembly Bill A9138, imposing an excise tax on electricity used by proof-of-work crypto mining businesses. The bill, a companion to Senate Bill S8518, aims to make companies pay into New York's Energy Affordability Programs based on their electricity consumption.

Two MIT-educated brothers allegedly planned to exploit a software vulnerability and steal $25 million from crypto traders in just 12 seconds, manipulating Ethereum's MEV-Boost protocol. The operation targeted sandwich bots, automated trading programs, turning their strategy against them.

Bitcoin's rebound to $110,000 triggered a rally in altcoins, with Bittensor and Zcash leading gains while BNB slipped. Market confidence has been renewed, prompting traders to rotate capital into high beta assets for short-term outperformance.

Bitcoin is showing signs of stabilization as macroeconomic pressures ease, with experts suggesting it may be bottoming. A potential bullish reversal follows the Fed's dovish pivot and expectations of a U.S.-China trade war softening. The crypto market's future hinges on the upcoming inflation report and trade negotiations outcome.

China has directed Ant Group and JD.com to halt their stablecoin plans in Hong Kong, aligning with Beijing's regulatory priorities. The move aims to prevent private entities from issuing currency-like assets, emphasizing responsible innovation within state boundaries.

Professor Andrew Urquhart, Head of Finance at Birmingham Business School, shares insights on Bitcoin's energy usage and sustainability in the ninth Professor Coin column. Bitcoin's PoW system secures the network but raises concerns about energy consumption and environmental impact.

World Liberty Financial, an Ethereum-based DeFi project co-founded by U.S. President Donald Trump and his sons, aims to "keep the dollar digital" and provide loans. The platform has launched a stablecoin called USD1, with a market cap of $3.56 billion.

Tempo, a blockchain project by Stripe, raised $500 million in a Series A round, valuing the project at $5 billion. The round was co-led by Greenoaks and Thrive Capital, with Ethereum core developer Dankrad Feist joining Tempo.

MrBeast, a popular social media personality, has filed a trademark for MrBeast Financial to launch a cryptocurrency exchange app. The application includes various financial services, but as of now, he has not obtained necessary licenses or approvals.

Analysts suggest that some traders are still adhering to the traditional four-year cycle in the crypto market, leading to recent price declines. Bitcoin, Ethereum, and XRP have all experienced significant drops, with altcoins faring even worse. The market landscape may be evolving beyond the predictable cycle due to various factors.