Category crypto

Democrats Win Senate Control as CLARITY Act Remains Stalled

Democrats have officially secured control of the United States Senate following a hard-fought election cycle that shifted the balance of power on Capitol Hill. Despite this significant political victory for the party, legislative momentum has hit a major roadblock as the highly anticipated CLARITY Act remains completely stalled in committee. The bipartisan cryptocurrency and digital asset bill, which aims to establish a clear regulatory framework between financial watchdogs, has become caught in partisan gridlock amid the shifting congressional landscape. Lawmakers on both sides of the aisle are now scrambling to find a compromise before the current legislative session concludes. Without renewed momentum, the fate of the landmark financial reform hangs precariously in the balance.

BitMart Founder Confirms Hack During Restructuring

During a strategic corporate restructuring, BitMart founder Felix Xu has officially confirmed that the prominent cryptocurrency exchange suffered a significant security breach. The acknowledgment brings renewed attention to the platform's historical vulnerability as it navigates complex organizational changes. Industry observers are closely monitoring how this confirmation impacts user trust and regulatory scrutiny moving forward. Despite the turbulence of the hack and ongoing restructuring efforts, leadership maintains that steps are being taken to fortify the platform's defenses.

Solana Breaks Below $90 as Bitcoin Slides Under $76,000

The cryptocurrency market experienced a sharp downturn as major digital assets suffered significant losses amid escalating macroeconomic pressures. Solana plummeted below the crucial $90 threshold, reflecting deepening bearish sentiment across alternative layer-one networks. Concurrently, the world's leading cryptocurrency, Bitcoin, slid under the $76,000 mark, dragging the broader market valuation down with it. Traders and investors are closely monitoring these critical support levels as liquidations mount across major exchanges. This latest price correction highlights the ongoing volatility and fragile momentum currently gripping the digital asset landscape.

THORChain Restarts Most Swaps, With 14 Nodes Yet to Upgrade

Decentralized liquidity protocol THORChain has successfully resumed the majority of its cross-chain swap operations following a temporary halt. The network paused activities after developers identified a potential vulnerability, prompting a mandatory security upgrade across its infrastructure. While most node operators have swiftly adopted the critical patch, fourteen nodes are still in the process of upgrading. Despite this minor backlog, the core functionality of the protocol is back online, reassuring users and traders about the platform's overall resilience and rapid incident response capabilities.

South Korea’s Ruling Party Formally Seeks Crypto Tax Delay

South Korea’s ruling People Power Party has officially moved to delay the implementation of a contentious 20% tax on digital asset gains by an additional two years, pushing the planned enforcement date to 2027. Originally slated for 2022, the crypto tax has faced repeated postponements due to fierce pushback from retail investors, industry stakeholders, and lawmakers who argue that the market lacks adequate regulatory frameworks and institutional readiness. The ruling party's latest legislative push aims to prevent capital flight and protect everyday investors while the government works to establish a more comprehensive and mature financial ecosystem for virtual assets. This strategic delay highlights the ongoing political balancing act between protecting a burgeoning technological sector and establishing fair taxation in one of the world's most active cryptocurrency markets.