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Thumbnail for US Senate has 4 days to save CLARITY Act as odds fall to 30% – Galaxy Digital says
US Senate has 4 days to save CLARITY Act as odds fall to 30% – Galaxy Digital says
Galaxy Digital said the Senate has four working days to save the CLARITY Act, as it cut passage odds to 30%. In a July 24 note to clients, the crypto investment firm lowered its estimate for CLARITY Act chances this year from 50%, saying lawmakers need a deal by July 30 to leave enough time for floor proceedings before the August recess. Alex Thorn, Galaxy Digital's head of research, said: “[CLARITY Act] is a strong bill that improves regulation, protects investors, promotes innovation, grows USA the time for incremental negotiations is over. we need a last-ditch effort.” The warning came just two days after US Senate Republicans released an updated 616-page combined version of the crypto ma
CryptoSlate · Crypto
Thumbnail for Bitcoin is now fighting the ECB’s €51.8 billion bond wall for a shrinking pool of capital
Bitcoin is now fighting the ECB’s €51.8 billion bond wall for a shrinking pool of capital
Bitcoin traded around $64,000 on July 25 after changing hands near $65,000 around the ECB’s July 23 decision as the central bank kept rates unchanged, its bond portfolios continued shrinking, and euro-area banks tightened access to business and housing credit. The ECB kept its three key interest rates unchanged, leaving the deposit facility rate at 2.25%, the main refinancing rate at 2.40% and the marginal lending facility rate at 2.65%, while the balance-sheet and bank-credit channels continued moving in a restrictive direction. Official monthly data shows that the ECB’s asset purchase program and pandemic emergency purchase program portfolios declined by a combined €39.447 billion in June
CryptoSlate · Crypto
Thumbnail for 8x faster than US cash: The $1T network settling millions while banks sleep on weekends
8x faster than US cash: The $1T network settling millions while banks sleep on weekends
Stablecoin supply has roughly doubled since January 2024, while entity-adjusted transaction volume has grown fourfold to fivefold, according to Coinbase Institutional, opening a wide gap between the amount of dollar liquidity held onchain and the volume of activity that liquidity supports. Market capitalization records the stock of stablecoins in circulation, which captures available liquidity, reserve demand, and issuer scale. Transaction throughput, on the other hand, records how intensively those tokens move through exchanges, payment systems, treasury accounts, and settlement workflows. A system holding $500 billion that moves infrequently offers greater capacity than one holding $250 bi
CryptoSlate · Crypto
Thumbnail for These 10 altcoins are still worth $12B after a 97% collapse – but do users pay enough to them keep running?
These 10 altcoins are still worth $12B after a 97% collapse – but do users pay enough to them keep running?
Ten once-prominent cryptocurrency networks now carry a combined market value of $12.06 billion, trading an average of 97.13% below their all-time highs. A recent report by Taurex noted that recovery needs across the group range from roughly 21.5x for Avalanche, the largest of the ten at $2.91 billion, to roughly 323x for Internet Computer, which sits furthest from its peak at 99.7% below. Blockchains fund security, developer grants and network growth through token issuance, validator rewards and treasury spending, models that work best when prices climb, and newly minted tokens still carry real dollar value. At this scale of drawdown, the same issuance produces far less funding, dilutes hold
CryptoSlate · Crypto
Thumbnail for Two Ethereum bridges lose $31.7M within hours as third protocol halts staking
Two Ethereum bridges lose $31.7M within hours as third protocol halts staking
AFX and the Verus-Ethereum bridge suffered about $31.69 million in combined losses within hours of each other, while B² Network separately suspended token staking after unauthorized access to a contract upgrade authority. Blockaid said it detected the AFX exploit at about 21:30 UTC on July 22. An Arbitrum transaction recorded 24.15 million USDC leaving the bridge operated by AFX, a decentralized trading protocol on Arbitrum. AFX suspended its USDC custody bridge and said the incident was isolated from its trading infrastructure, mainnet, and the Arbitrum network. The affected component was a third-party bridge, not Arbitrum's native bridge. In preliminary findings published July 24, AFX attr
CryptoSlate · Crypto