Bessent: Setting Course for Digital Supremacy

Appointed by Donald Trump and confirmed by the Senate in January, Scott Bessent makes his intentions clear: to establish a strong market structure to showcase American standards worldwide. “The best market practices should originate from here,” he emphasized. This vision was already shared upon his entry into the President’s Working Group on Digital Asset Markets, created by presidential decree on January 23.

While the hearing primarily focused on tariffs, crypto quickly became the focal point of tensions. In the background, a bipartisan bill seeks to clarify the roles of the SEC and CFTC while strengthening transparency requirements. A move driven by Republicans who aim to swiftly advance legislative efforts.

The Trump Specter Stirs Democrats

However, Trump’s presence in the crypto arena has not gone unnoticed. Since launching his own memecoin on the eve of his inauguration and unveiling a stablecoin through his company World Liberty Financial, criticisms have surfaced. Several Democrats even left a hearing to host their own roundtable, denouncing the shadow of private interests in public debates. Meanwhile, Representative Angie Craig calls for dialogue between the opposing camps.

Pressure Mounts on Stablecoin Regulation

On Thursday, the Senate is set to vote on a separate bill regarding stablecoin regulation. Once more, consensus remains elusive. Over the weekend, a coalition of Democratic senators, including Gallego, Warner, Warnock, Blunt Rochester, and others, issued a joint statement highlighting persistent shortcomings in the bill.

Meanwhile, the Fed Exercises Caution

Against this backdrop, the Federal Reserve has chosen to maintain rates between 4.25% and 4.5%. Jerome Powell acknowledged an “increased uncertainty” in economic outlook, with inflation still “relatively high” and heightened risks for employment. A tense economic climate that will not bolster the appeal of risky assets like Bitcoin.

The article Unraveling the Trends in US Crypto Regulation appeared first on Coin Academy.

New York wanted New York to classify ETH as a security

In a letter unveiled among the SEC’s internal exchanges, Shamiso Maswoswe, Director of New York’s Investor Protection Bureau, requested direct intervention from the federal regulator. She requested an “amicus brief” to publicly support the idea that ETH was a security. She even mentioned that this classification was not essential for the procedure, as the State regulates both securities and commodities, but it would be ‘beneficial for investor protection.’

The SEC ultimately did not comply with this request, preferring to maintain an ambiguous stance. Historically, the agency had admitted that ETH more closely resembled a commodity, but its shift to proof of stake in 2022 raised doubts. The agency then remained silent, leaving regulatory uncertainty lingering.

A political attempt that fell by the wayside

We would like to ask the SEC to file an amicus in support of the argument that Ether is a security.

This revelation adds to a series of documents that Coinbase has been publishing for several months as part of its legal battles with US authorities. In previous waves, the platform had uncovered letters from the FDIC, confirming that banking regulators behind the scenes discouraged institutions from interacting with the crypto industry.

The current dossier also includes internal SEC exchanges on Ripple, XRP, and the issue of its centralization. These communications date back to 2021, well before the trial that recently turned in favor of Ripple, with the company even recovering funds paid to the agency as part of a fine.

Coinbase opens the floodgates of transparency

This battle over the definition of digital assets, security or commodity, is at the heart of the conflict between the crypto industry and US regulators. A conflict that has slightly eased since Donald Trump’s arrival at the White House. The new president has shown a much more crypto-friendly stance, especially by appointing Paul Atkins to lead the SEC. Under his direction, the agency has sent signals indicating that some token categories would now be outside its scope.

A deep-seated struggle despite political calm

This battle for the classification of digital assets, security or commodity, is at the core of the conflict between the crypto industry and US regulators. A dispute that has slightly calmed since Donald Trump came to the White House. The new president has shown a much more favorable stance towards crypto, especially by appointing Paul Atkins as the head of the SEC. Under his leadership, the agency has multiplied signals suggesting that certain token categories would now be outside its scope.

As for New York, this did not prevent them from winning the case against KuCoin. In December 2023, the platform agreed to settle for 22 million dollars to avoid a trial and withdrew from the New York market. A clear message from Attorney General Letitia James: ‘We will continue to act against any company that flaunts the law and jeopardizes the savings of New Yorkers.‘

The article Ethereum Standoff: Inside New York’s Push for SEC Accountability and Regulatory Clarity appeared first on Coin Academy.

Russia, supported by Chinese capital and less affected by logistical surcharges, could take advantage of these policies to increase its share of the global hashrate.

Facing uncertainties, countries like Canada, Argentina, or Ethiopia are attracting investments, while sector players are demanding exemptions to preserve the American ecosystem.

Russia Benefits From Bitcoin Mining Amid Trump’s Tariffs

As Donald Trump aims to make the United States a Bitcoin mining giant, his trade policies may have the opposite effect. Targeted are tariff increases on equipment from Asia, which could make Russia the big winner in a new global redistribution of computing power.

The United States Still Dependent on Chinese Equipment

As of now, we are facing tariffs of 12.6% on units shipped from Asia to the United States.

We expected these tariffs to increase in July, rising from 26.6% to 38.6% depending on the country of origin. It is possible that these tariffs may be renegotiated before the 90-day pause.

Ethan Vera, COO of Luxor Technology

Most mining machines, especially the Bitmain’s Antminer, which controls over 80% of the market, are designed and assembled outside the United States. As a result, import tariffs, which could reach up to 38.6% this summer, threaten the profitability of American miners. According to Luxor, a key player in the sector, domestic demand is already under pressure, and machines could soon be redirected to other markets.

Luxor’s COO, Ethan Vera, warns: if these tariffs are applied without concessions, Russia could emerge as the main beneficiary. Less exposed to logistical surcharges, supported by Chinese capital seeking outlets outside the United States, Moscow could capture an increasing share of the global hashrate.

Canada, Northern Europe, and South America in the Race

Besides Russia, other regions are positioning themselves. From Canada to Ethiopia, Argentina, or Paraguay, countries with abundant cheap electricity are drawing attention. American and European investors are already redirecting their flows, anticipating a new cycle of mining relocation.

BitFuFu, a major player in cloud mining, confirms that its development plans in the United States remain unchanged, but decisions are being made. Its American centers are already running at full capacity, but the company is closely monitoring tariff developments. The same sentiment is echoed at Bitdeer, which focuses on a gradual deployment of ‘Made in USA’ machines while rebalancing its global operations.

Towards a Global Hashrate Reconfiguration

If American hardware production is starting to emerge, Luxor estimates that it will take several years before the supply chain is truly localized. For now, the dependence on Asian components remains total. In the meantime, tariff increases are raising the cost of equipment and slowing the expansion of less competitive miners.

Yet, the mining market evolves rapidly: cost increases could also reduce overall difficulty, improving margins for the most resilient. Luxor even advocates for a tariff exemption similar to that granted to computer servers to protect the national ecosystem.

Customs Seizures and Baseless Suspicions

Another threat to miners is the intensification of border controls. Massive seizures have been reported, especially on Bitmain’s equipment, due to components linked to Chinese companies under sanctions. Bitdeer, listed on the Nasdaq, denies any fraud or underreporting, ensuring strict compliance with US requirements.

The article Russia Emerging as a Winner Amid Trump’s Mining Tariffs appeared first on Coin Academy.

The US Treasury Secretary will meet with Chinese representatives in Switzerland, showcasing a willingness for economic dialogue and compromise between the two countries.

Financial markets, including the Nasdaq 100 and the S&P 500, reacted positively, confirming a renewed appetite for risk in a still fragile yet promising atmosphere.

US and China Calm Down: Bitcoin Benefits

Risk markets catch their breath. Fueled by the announcement of future trade discussions between Washington and Beijing, Bitcoin jumped by 3% in a few hours, crossing the $97,000 mark from Tuesday night to Wednesday. A sudden rise that reflects investors’ sudden optimism towards a possible thaw in trade tensions between the two superpowers.

Washington Puts Peace on the Table

The signal came directly from the US Treasury Secretary, Scott Bessent, who confirmed his imminent departure to Switzerland to meet with Chinese representatives this weekend.

Referring to the simmering trade war affecting global exchanges for several years:

Current trade barriers are unsustainable, but we do not want decoupling.

China, on the other hand, responded in the same tone. In a statement, the Chinese Ministry of Commerce praised the US openness and confirmed its willingness to discuss, after fully considering global expectations, its own interests, and the calls from US industries and consumers.

Risk Assets React Swiftly

In the hours following the closure of Wall Street, the rebound was immediate. Bitcoin surged to $97,700, riding on the prospect of a reduction in trade barriers. Futures contracts on the Nasdaq 100 and the S&P 500 also rose by over 1%, illustrating investors’ renewed appetite for risk.

A Fragile yet Promising Environment of Trust

Although no concrete agreement has been signed yet, the expressed willingness of both sides to resume dialogue is enough, for now, to ease the markets. In an environment where every diplomatic shift can sway prices, cryptocurrencies continue to behave as leading indicators of the overall sentiment.

The article Bitcoin Rallies as US-China Trade Talks Loom appeared first on Coin Academy.

The EIP-7702 introduces a major advancement towards account abstraction by allowing wallets to temporarily function as smart contracts, improving the user experience.

Comprised of 11 EIPs, the Pectra update enhances the performance, modularity, and data management of Ethereum at a strategic moment in response to the rise of Solana.

The Pectra Update Is Validated on the Ethereum Mainnet

Ethereum has just rolled out its largest update since the 2022 Merge. Named Pectra, this major evolution reshuffles the deck for validators, wallets, and the very future of the network. Against a backdrop of increasing pressure from Solana and a community in search of a clear direction.

Scaling Staking: 32 ETH is a Thing of the Past

EIP-7251 is the game-changer. The 32 ETH cap per validator is lifted: it is now possible to stake up to 2,048 via a single node. A revolution for infrastructure providers who previously had to manage hundreds of validators for a single entity. Less fragmentation, less latency, and a reduced queue to join the network.

“Small operators can finally capitalize effectively, while large ones reduce their network bandwidth“, summarizes Tim Beiko (Ethereum Foundation). Goal: strengthen network stability without compromising decentralization.

Towards Smarter Wallets

Another key change: EIP-7702. Thanks to it, wallets can temporarily behave like smart contracts. This step towards account abstraction opens the door to practical uses: paying fees in stablecoins, automating transactions, or recovering access in case of seed phrase forgetfulness.

A crucial step to democratize the Ethereum ecosystem and finally make it user-friendly.

Eleven EIPs to Get Ethereum Back on Track

Eleven improvement proposals make up Pectra. Some focus on performance (EIP-2537 to accelerate cryptographic calculations), others on data management (EIP-7691, EIP-7840), or simplifying the validation process (EIP-6110, EIP-7002). All to make Ethereum faster, more modular, and better equipped to address data availability challenges.

A Strategic Update at a Critical Moment

Pectra arrives in a tense context. Ethereum is losing ground to Solana, which continues to attract more developers. The Ethereum Foundation had to rethink its governance, faced with criticism for lack of vision and the stagnation of ETH’s value.

Two failed tests, including one that killed a major testnet, did not help reassure the community. But the success of the Pectra deployment could mark a turning point. More than just a hard fork, it’s a signal: Ethereum is far from finished.

The article Revolutionizing Ethereum: The Pectra Update appeared first on Coin Academy.

Official Launch of Bitcoin Reserve Policy in New Hampshire

The bill, known as House Bill 302, was introduced in January and allows the State Treasury to invest a portion of its funds in crypto, with a strict rule that only cryptocurrencies with a market capitalization exceeding $500 billion are eligible. This move aims to exclude meme coins and volatile tokens, prioritizing Bitcoin.

The same law also opens the door to investments in precious metals, aligning the state’s strategy with a logic of prudent diversification. New Hampshire is not looking to speculate but rather secure its reserves in alternative assets with high resilience.

Strong Political Statement in a Tense Climate

This action makes New Hampshire the first state led by a Republican governor to pass such a project, shortly after the Democratic governor of Arizona, Katie Hobbs, vetoed a similar bill. This contrast highlights a growing political divide regarding the integration of digital assets into public finances.

While other states are still considering similar legislation, New Hampshire is taking the lead, positioning itself as a pioneer in modern management of public reserves in the Bitcoin era.

The article New Hampshire Pioneers Bitcoin Investment in Public Funds appeared first on Coin Academy.

AI Creates Strike and Strife Stocks for Strategy to Accumulate BTC

AI plays a pivotal role in designing these unique securities. Launching earlier this year, the operation aims to raise up to 84 billion dollars, half in stocks, half in debt. The two new preferred stocks, STRK and STRF, offer respective annual returns of 13% and 10%, as well as unprecedented features such as perpetual dividends and purchase options, mechanisms almost absent from traditional products.

[AI] doesn’t give me an immediately actionable response, but it offers me 80 to 95% of the solution, which I then pass on to our finance and legal teams.

When AI Meets Wall Street

Far from just generating speeches, artificial intelligence was used from the very beginning in the legal and financial design phase of the securities. “Strike and Strife are the first AI-designed securities in our industry that I know of“, says Saylor. A complex process, fraught with legal obstacles, but one that could pave the way for a new generation of financial instruments.

Bitcoin Continues at the Heart of the Strategy

This innovation aligns with the obsessive mission of Strategy: to accumulate Bitcoin. Between April 28 and May 4, the company bought another 1,895 BTC for about $180 million, funded by the sale of common shares (MSTR) and preferred stocks. In total, Strategy raised $180.3 million for this purchase.

The company now holds 555,450 bitcoins, more than 2.6% of the global supply, a position that solidifies Michael Saylor’s position as the most fervent of maximalists.

The article AI-Designed Strike & Strife for Strategy’s Bitcoin Play appeared first on Coin Academy.

The breadth and creativity of the proposals underline the potential of the digital euro as a catalyst for financial innovation in Europe, including the development of new solutions that further enhance Europeans’ payment experience and create market opportunities.

Piero Cipollone

Among the actors involved: the consulting firm Accenture, the audit firm KPMG, the Spanish bank CaixaBank, and the operator Swisscom. All have committed to testing the payment functionalities related to the digital euro project. The goal is to explore the technical feasibility, usage scenarios, and concrete impacts on the European payment ecosystem.

The ECB had issued a call to industry players in 2023, targeting both large corporations and independent merchants. With this hub, the institution is setting up a true continental experimentation zone, at the crossroads of traditional finance and its very personal ‘digital innovation’.

Christine Lagarde, President of the ECB, confirmed that the testing phase, called the preparation phase, will conclude by October 2025. However, no final decision will be made until the adoption of a European legislative framework on the subject. The actual issuance of the digital euro will therefore depend on the political green light, expected after the entry into force of the text under discussion in Brussels.

The article Europe Accelerates Trials for Digital Euro appeared first on Coin Academy.

eToro prepares a grand entrance into the stock market

The social trading platform eToro is gearing up for its dramatic debut on the Nasdaq. The goal is to raise up to $500 million and achieve a valuation of $4 billion. Ten million shares will be offered to the market, with a price ranging between $46 and $50 per share.

An IPO shared between the company and its shareholders

Out of the 10 million Class A common shares being offered, half will come directly from eToro. The other half will be sold by existing shareholders. Subscribers, led by Goldman Sachs, Jefferies, UBS, Citigroup, and supported by Deutsche Bank, Cantor, and BofA, will have an over-allotment option of 1.5 million additional shares over 30 days.

The Israeli company will list on the Nasdaq Global Select Market under the symbol ETOR. According to Reuters, BlackRock, a market giant with over $10 trillion under management, has already shown interest in $100 million worth of ETOR shares. This move speaks volumes about the platform’s ambitions.

From SPAC failure to traditional IPO

This IPO signals a comeback after a failed attempt in 2022. Back then, eToro had tried to merge with a SPAC to target a valuation of $10.4 billion. The operation fell through due to lack of SEC approval. This time, the strategy is clear: everything has been happening behind the scenes since January, through a confidential filing, before revealing the details on May 6.

In its statement, eToro specifies that the registration statement (Form F-1) has not yet been approved by the SEC: no shares can be sold until it is in effect.

A registration statement on Form F-1 related to the proposed offering of these securities has been filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective.

The selective Nasdaq with crypto

Few crypto companies have successfully IPO’d in the United States. Apart from Coinbase and a few mining giants, few have taken the leap. Circle, the issuer of USDC, had also considered a listing in April, but has since remained silent. With the volatility of the American political climate, and the return of Donald Trump to the discussions, some projects stall, while others accelerate.

eToro, on the other hand, moves forward. And hopes to secure its spot among the few crypto players listed on Wall Street.

The article eToro Sets Sights on Nasdaq IPO with Ambitious Valuation Target appeared first on Coin Academy.

Greg Sanders defends this removal to clean up the UTXO base and simplify protocol rules, while Luke Dashjr and Samson Mow denounce a drift towards spam and a departure from founding principles.

The divide widens between Bitcoin Core and alternatives like Bitcoin Knots, whose usage is increasing among nodes opposed to this controversial network evolution.

Les développeurs Bitcoin veulent retirer OP_RETURN

The decision by Bitcoin Core to remove the 80-byte limit on the OP_RETURN field, long used to store arbitrary data in transactions, has reignited a latent conflict among developers, node operators, and ideological guardians of the protocol.

Planned for the next version of the most widely used software on the Bitcoin network, this change marks a technical and symbolic turning point.

Une limite devenue inutile selon ses partisans

Greg Sanders, active contributor to Bitcoin Core and engineer at Blockstream, defends this removal. According to him, the current limit does not prevent abuse:

Massive data entries happen anyway, often in a more opaque and harmful manner to the network.

By channeling these uses towards manipulated scripts or fake public keys, the 80-byte limit only exacerbates the situation.

The end of this rule would, according to Sanders, lead to two concrete advancements: a cleaner UTXO base (unspent transaction outputs) and a more consistent default behavior among nodes. “Bitcoin deserves simple and transparent rules. Letting the fee market arbitrate uses is more aligned with its spirit,” he writes.

Une dérive vers le spam pour ses détracteurs

But the opposition remains strong. Luke Dashjr, a historical developer and staunch opponent of non-monetary data storage on Bitcoin, denounces a disguised sabotage: “This is absolute madness,” he said. For him, every byte used for non-monetary purposes diverts Bitcoin from its initial mission: that of a peer-to-peer payment network.

His own software version, Bitcoin Knots, a stricter and more configurable Core fork, has seen its share rise to around 5% of the network nodes. Knots allows operators to block transactions containing entries or other forms of “spam”.

La fracture s’installe dans l’écosystème

The debate is not limited to code: it touches on the ideological control of the network. Samson Mow, a well-known pro-Bitcoin figure, urges operators not to update their Core node. “Refuse the upgrade, stay on version 29.0 or switch to Bitcoin Knots,” he tweeted.

On GitHub, the comments are clear: “This is a fundamental shift in Bitcoin’s direction“, warns one. Another adds: “This is Core’s biggest strategic mistake at this stage. I want my opposition recorded.”

The article Bitcoin Core Sparks Conflict Over OP_RETURN Removal appeared first on Coin Academy.