KindlyMD shareholders have approved a merger with Bitcoin holding firm Nakamoto Holdings, paving the way for the creation of a publicly traded Bitcoin-focused conglomerate. According to a May 20 announcement from the U.S.-based healthcare services provider, both companies will now…

KindlyMD shareholders approve Bitcoin pivot via Nakamoto Holdings merger

Circle has officially launched the mainnet for its Circle Payments Network. 
The CPN will be a new blockchain-based system designed to facilitate real-time 
cross-border payments and settlements using its stablecoin, USDC (USDC). The 
CPN is built to support business-to-business payments,…

Circle launches Circle Payments Network for real-time stablecoin payments

Pi Network dominated headlines on May 14 when it officially introduced a $100 
million venture fund aimed at jumpstarting real-world utility for its 
ecosystem. The announcement officially introduced Pi Network Ventures, a 
Silicon Valley-style investment initiative that will fund startups…

Interview | Inside Pi Network’s $100m fund for real-world utility

The insider-linked data leak at Coinbase highlights the critical need for 
robust internal security measures and could lead to increased regulatory 
scrutiny.
The post Coinbase discloses over 69,000 users affected by insider-linked data 
leak appeared first on Crypto Briefing.

Coinbase discloses over 69,000 users affected by insider-linked data leak

Stablecoin adoption among institutions could surge as the United States Senate 
prepares to debate a key piece of legislation aimed at regulating the sector.
After failing to gain support from key Democrats on May 8, the Guiding and 
Establishing National Innovation for US Stablecoins (GENIUS) Act passed the US 
Senate in a 66-32 procedural vote on May 20 and is now heading to a debate on 
the Senate floor.
The bill seeks to set clear rules for stablecoin collateralization and mandate 
compliance with Anti-Money Laundering laws.
_**Related:**__**German gov &#8216;t missed out on $2.3B profit after selling 
Bitcoin at $57K**_
&#8220;This act doesn&#8217;t just regulate stablecoins, it legitimizes them,&#8221; said Andrei 
Grachev, managing partner at DWF Labs and Falcon Finance.
&#8220;It sets clear rules, and with clarity comes confidence. That&#8217;s what 
institutions have been waiting for,&#8221; Grachev told Cointelegraph during the 
Chain Reaction daily X spaces show on May 20, adding:
&gt; &#8220;Stablecoins aren&#8217;t a crypto experiment anymore. They&#8217;re a better form of 
&gt; money. Faster, simpler, and more transparent than fiat. It&#8217;s only a matter 
&gt; of time before they become the default.&#8221;
_Source:__Cointelegraph_
## Senate bill seen as path to unified digital system
The GENIUS Act may be the &#8220;first step&#8221; toward establishing a &#8220;unified digital 
financial system which is borderless, programmable and efficient,&#8221; Grachev 
said, adding:
&gt; &#8220;When the US moves on stablecoin policy, the world watches.&#8221;
Republican Senator Cynthia Lummis, a co-sponsor of the bill, also pointed to 
Memorial Day as a &#8220;fair target&#8221; for its potential passage.
Grachev said regulatory clarity alone will not drive institutional adoption. 
Products offering stable and predictable yield will also be necessary. Falcon 
Finance is currently developing a synthetic yield-bearing dollar product 
designed for this market, he noted.
_Yield-bearing stablecoins issuance. Source: Pendle_
Yield-bearing stablecoins now represent 4.5% of the total stablecoin market 
after rising to $11 billion in total circulation, Cointelegraph reported on 
May 21.
_**Related:**__**Stablecoins seen as ideal fit for real-time collateral 
management**_
## GENIUS Act regulatory gaps don&#8217;t address offshore stablecoin issuers
Despite broad support for the GENIUS Act, some critics say the legislation 
does not go far enough. Vugar Usi Zade, the chief operating officer at Bitget 
exchange, told Cointelegraph that &#8220;the bill doesn&#8217;t fully address offshore 
stablecoin issuers like Tether, which continue to play an outsized role in 
global liquidity.&#8221;
He added that US-based issuers will now face &#8220;steeper costs,&#8221; likely 
accelerating consolidation across the market and favoring well-resourced 
players who can meet the new thresholds.
Still, Zade acknowledged that the legislation could bring greater &#8220;stability&#8221; 
to regulated offerings, depending on how it is ultimately worded and enforced.
_**Magazine:**__**Crypto wanted to overthrow banks, now it &#8216;s becoming them in 
stablecoin fight**_

GENIUS Act legitimizes stablecoins for global institutional adoption

Bonk, the second-biggest Solana meme coin after Trump Coin, may be at risk of 
a significant drop as whales and smart money investors reduce their positions. 
Bonk (BONK) was trading at $0.00002053 on Wednesday, down 20% from its monthly 
high.…