Kevin Warshs nomination to become the next Chair of the US Federal Reserve is encountering early resistance in Washington, as Senate Democrats on the Banking Committee push to halt the confirmation process. According to a report by CNBC, Democratic lawmakers are urging Senate Banking Committee Chair Tim Scott to pause any proceedings related to Warshs nomination until ongoing investigations involving current Federal Reserve officials are resolved. The request highlights growing political tension around the Feds independence and the broader implications of the nomination. Led by Senator...

Senate Democrats are set to resume discussions on the long-awaited crypto market bill, marking their first closed-door meeting since the legislations markup was delayed last month. According to journalist Eleanor Terrett, Democratic lawmakers are reconvening to address key issues surrounding the proposed crypto market structure framework, signaling renewed momentum for the bill as pressure builds from both the White House and industry stakeholders. The crypto market bill, widely referred to as the CLARITY Act, is designed to establish clear regulatory guidelines for digital assets in the...

Rui-Siang Lin, the alleged operator of the dark web narcotics marketplace known as Incognito Market, has been sentenced to 30 years in U.S. federal prison, according to a statement from the U.S. Attorneys Office for the Southern District of New York. The sentencing marks the conclusion of one of the most significant online drug marketplace prosecutions since the takedown of Silk Road, underscoring the continued focus of U.S. authorities on dismantling large-scale dark web drug networks. Lin, a 24-year-old Taiwanese national who went by the online alias Pharaoh, pleaded guilty in December 2024...

Tokenized silver has experienced extreme volatility in recent days, swinging more aggressively than bitcoin and causing significant losses for traders. According to hedge fund manager Michael Burry, famous for predicting the 2008 financial crisis, the sharp sell-off reflects a dangerous feedback loop driven by leverage, falling collateral values and forced liquidations across crypto platforms. Burry described the situation as a collateral death spiral, where declining crypto prices reduce the value of collateral posted by traders, triggering margin calls and automatic liquidations. Those...

BitMine Immersion chairman Tom Lee has pushed back against growing criticism over the companys mounting paper losses, arguing that the drawdown is a natural outcome of its long-term ethereum treasury strategy rather than a failure in execution. In recent posts on X, Lee emphasized that BitMine is designed to track the price of ether over a full market cycle and ultimately outperform it, positioning the firm more like an index-style investment vehicle than a short-term trading operation. As the broader crypto market remains in a downturn, BitMine acknowledged that unrealized losses on its ETH...

WisdomTrees crypto and digital asset business is no longer an experimental side project but a central pillar of the firms long-term strategy, according to CEO Jonathan Steinberg. Speaking during a fireside chat at the Ondo Summit in New York, Steinberg said the companys blockchain and tokenization efforts are now approaching profitability after years of heavy investment. The $150 billion asset manager has seen rapid growth in its digital asset operations. Steinberg noted that WisdomTrees crypto-related assets expanded from roughly $30 million to about $750 million in just one year,...

Michael Burry, the investor famous for predicting the 2008 global financial crisis, has issued a fresh warning about bitcoin, suggesting its recent price decline could trigger broader disruptions across financial markets, including gold and silver. In a recent Substack post, Burry argued that the downturn in cryptocurrency prices may already be forcing institutional investors and corporate treasuries to liquidate other assets to cover losses. Bitcoins sharp pullback has raised concerns after the cryptocurrency briefly dropped below $73,000, marking roughly a 40% decline from its recent peak....

Canadas top investment industry regulator has introduced stricter digital asset custody rules in an effort to respond faster to crypto failures like the collapse of QuadrigaCX, one of the countrys most infamous cryptocurrency scandals. The Canadian Investment Regulatory Organization (CIRO) announced its new Digital Asset Custody Framework, which aims to strengthen investor protection while still allowing room for innovation in the rapidly evolving crypto market. The framework is designed to help CIRO react more quickly to key risks associated with digital assets, including hacking, fraud,...

President Donald Trumps negotiators are refusing to support provisions in a major U.S. Senate crypto market structure bill that would directly target the president or his family over digital asset business ties, a demand that has become a key sticking point for Senate Democrats. The disagreement is slowing progress on legislation seen as critical for shaping how the U.S. cryptocurrency industry will be regulated. Patrick Witt, executive director of the Presidents Council for Advisors for Digital Assets, said earlier Democratic proposals on ethics rules crossed clear boundaries. Speaking to...

The future of asset management will be wallet-native, not just digital, according to Sandy Kaul, head of innovation at Franklin Templeton. Speaking at the Ondo Summit in New York, Kaul said the financial industry is moving toward a model where all assets including stocks, bonds, funds, and alternative investments are held, managed, and interacted with directly through tokenized digital wallets. Kaul explained that the long-term vision is for individuals and institutions to see the totality of their financial lives represented on-chain. In this model, wallets become the primary interface for...