Bitcoin reserve advocate Sen. Cynthia Lummis provided critical comments on Jerome Powell’s role in Operation Chokepoint 2.0. Additionally, she echoed Rep. Anna Luna’s allegations concerning Powell’s perjury. Is that a new turn in Donald Trump’s war on Powell? Sen. Lummis’…

Sen. Lummis slams Fed Chair Powell over his role in Operation Chokepoint 2.0

Justin Sun, founder of the Tron blockchain, rang the Nasdaq bell Thursday 
morning on behalf of Tron Inc. (Nasdaq: TRON), a new entity formed when Sun 
orchestrated a reverse merger with SRM Entertainment in June 2025. Prior to 
the deal, SRM was a publicly listed toy manufacturer that supplied products to 
theme parks such as […]

Justin Sun Rings Nasdaq Bell for Tron Inc.

Regulatory clarity is opening the door for banks, asset managers, and crypto 
firms to roll out new stablecoin products.

US crypto legislation drives $4B surge in stablecoin supply

Jack Mallers, founder of Strike, argued in a video shared on X that a 
structurally higher Bitcoin price is emerging as a necessary component of US 
fiscal management, linking the growth of stablecoins to demand for US 
government debt. Framing the newly introduced GENIUS Act stablecoin 
legislation as “a seminal moment for digital assets and global dollar 
dominance,” Mallers said that while the bill “has nothing to do with Bitcoin 
directly,” it is indirectly significant because stablecoin expansion and 
Bitcoin appreciation are, in his view, intertwined. Bitcoin And Gold Must Rise 
To Avert US Fiscal Crisis Displaying a chart of Tether’s market capitalization 
alongside Bitcoin’s price, Mallers told viewers: “In the green, what you’re 
looking at is Tether, Market Cap. And in the orange, what you’re looking at is 
Bitcoin… The currency pair that does the most volume against this asset class 
is USDT, is Tether… If you want stablecoins to grow, Bitcoin grows.” He then 
connected that relationship to federal financing: stablecoin issuers, 
especially Tether, hold large amounts of US Treasuries; therefore, a larger 
stablecoin float would translate into incremental structural demand for US 
debt. Related Reading: Are Traders Walking Into a Bitcoin Bull Trap at $118K? 
Here’s What the Data Shows Mallers described the United States as fiscally 
“trapped,” asserting: “We know that the US cannot raise rates and they cannot 
cut spending. So we are trapped. The next logical step is we then need to 
devalue the dollar. It’s the only way out.” The policy question, he continued, 
is what assets the dollar should be allowed to depreciate against. “Do not 
debase the dollar against housing… Don’t debase the dollar against eggs… My 
recommendation, debase it against Bitcoin and gold.” Projecting a scenario in 
which Bitcoin reaches $500,000—“That’s 5x from here”—Mallers claimed such a 
move would force stablecoin capitalization to “5x,” producing “five times the 
amount of demand for US debt” at a moment when, he said, traditional foreign 
and domestic buyers are fatigued: “China doesn’t want your debt… Hedge funds 
don’t want your debt. Who’s the buyer of last resort? The Fed.” He likened the 
prospective alignment of Treasury financing needs, Federal Reserve balance- 
sheet expansion, and stablecoin reserve composition to a previous historical 
episode: “The last time the Fed and the US government got married… was to help 
finance around the world wars. And the Fed’s balance sheet grew 10 times… 
largely in… T-bills, the things that stablecoins buy.” Related Reading: 
Bitcoin Consolidates Below $120K as Exchange Activity Reflects Mixed Market 
Signals With US debt-to-GDP “at 130%,” Mallers argued, reduction in real terms 
requires monetary debasement channeled into politically acceptable asset 
inflation. He extended the narrative into politics, highlighting that “The 
president and his family just bought $2 billion worth of Bitcoin” and policy 
moves such as opening “US retirement market to crypto investments.” According 
to Mallers, positioning Bitcoin and gold inside retirement accounts will allow 
policymakers to “debase the dollar and get reelected,” because Bitcoin holders 
would not resist the erosion of purchasing power: “Debase the dollar all you 
want… I don’t care because I own Bitcoin.” He concluded by restating the 
mechanism he sees emerging from the bill: “Stablecoins are the new way to 
finance the government, but they grow as Bitcoin grows. One way to grow 
stablecoins is to grow Bitcoin… One way to solve the Fed and the Treasury’s 
problem of getting remarried is to grow Bitcoin. It could not be more 
obvious.” At press time, BTC traded at $118,055. Featured image created with 
DALL.E, chart from TradingView.com

Higher Bitcoin Price Now Critical For US Fiscal Stability, Expert Warns

UCAR and Iotex Collaborate on Real-World Asset Tokenization UCAR Partners With 
Iotex A China-based electric vehicle (EV) company named U Power Limited 
(Nasdaq: UCAR) has joined forces with decentralized physical infrastructure 
(DePIN) firm Iotex to tokenize its network of battery swapping and charging 
stations, according to a Wednesday press release provided to Bitcoin.com. 
Battery swapping […]

Nasdaq-Listed UCAR Teams up With Iotex to Tokenize EV Stations

The cryptocurrency derivatives market has suffered heavy liquidations as 
altcoins like XRP (XRP) and Dogecoin (DOGE) have plummeted. Crypto Has Seen 
Almost $1 Billion In Liquidations During The Past Day According to data from 
CoinGlass, the cryptocurrency derivatives sector has been shaken up by a wave 
of liquidations in the last 24 hours. &#8220;Liquidation&#8221; here refers to the 
forceful closure that any open contract undergoes when its losses exceed a 
certain percentage (as defined by the platform). Related Reading: When Will 
Ethereum Turn Overheated? Report Says Watch This Level Below is a table that 
breaks down the numbers related to the latest liquidations in the digital 
assets market: As displayed, the cryptocurrency sector has seen a whopping 
$967 million in derivatives contract liquidations over the past day. Out of 
these, an overwhelming majority of the positions involved were long ones. More 
specifically, users betting on a bullish outcome took a beating of around $829 
million. These mass liquidations have come as assets across the market have 
witnessed some degree of bearish price action. The likes of XRP and Dogecoin 
are currently down about 10%. Interestingly, Bitcoin (BTC) hasn&#8217;t been 
affected by this latest sector-wide downturn, suggesting that the decline 
could be a result of investors rotating capital out of altcoins. Given BTC&#8217;s 
relatively flat action, it&#8217;s not surprising to see that the number one 
cryptocurrency hasn&#8217;t been leading in liquidations this time around. From the 
above heatmap, it&#8217;s visible that Ethereum (ETH) has topped the market with a 
derivatives flush of almost $200 million, while XRP has come second with 
liquidations of $115 million. Despite the fact that Bitcoin hasn&#8217;t actually 
moved much in the past day, users have still managed to rake up $84 million in 
liquidations. Solana (SOL) and Dogecoin wrap up the top 5 with figures sitting 
at $58 million and $56 million, respectively. The mass liquidation event from 
the past day may be a product of overheated conditions that had already been 
brewing in the sector. As on-chain analytics firm Glassnode has revealed in 
its latest weekly report, the Open Interest across the top altcoins has seen a 
significant increase since the start of July. The &#8220;Open Interest&#8221; here refers 
to an indicator that keeps track of the total amount of futures positions 
related to an asset that are currently open on all centralized exchanges. As 
shown in the chart, the metric&#8217;s combined value for Ethereum, Solana, XRP, and 
Dogecoin sat at $26 billion at the start of the month, but it has now grown to 
$44 billion. Related Reading: XRP Whales Move $759M In Token: What Are They Up 
To? Historically, an excess of leverage has often led to volatility for the 
market, so the latest squeeze could just be this effect in motion. XRP Price 
At the time of writing, XRP is floating around $3.17, down 4% in the last 
week. Featured image from Dall-E, Glassnode.com, CoinGlass.com, chart from 
TradingView.com