The Block

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The Block

The first and final word in digital assets

Trump: GENIUS stablecoin law ‘threatened’ by banks as Congress stalls on passing market structure bill
Trump took a side on the ongoing debate over stablecoin yield that is holding up the passage of broad crypto market structure legislation....

French Hill urges Senate to take up House crypto bill amid stablecoin yield fight
Top Republican Rep. French Hill has some advice for his colleagues in the Senate on how to unstick its stablecoin yield problem. ...

Ethereum’s Vitalik Buterin: build ‘sanctuary tech,’ forget emulating Apple or Google
Ethereum could help with “de-totalization;” fending off the possibility that any single actor achieves total control....

A16z Crypto updates Jolt zkVM, challenges loose use of ‘ZK’ label
A16z added the NovaBlindFold folding scheme to the open-source Jolt zkVM, “rendering it suitable for privacy applications.”...

Analysts lift Circle’s price target as oil spike and rate outlook buoy stablecoin trade
Mizuho said shifting Fed expectations may matter more for Circle’s valuation multiple than for near-term revenue....

TD Cowen says banks likely to lose stablecoin yield fight, but prolonged dispute could put crypto bill at risk
"To us, the banks will eventually lose on this issue politically as they are arguing against consumers getting paid money."...

Coinbase CEO Brian Armstrong says Base App’s SocialFi features ‘didn’t quite work’
Last year, Coinbase relaunched the noncustodial Base App with social features like Creator Coins that have since been phased out....

The Daily: Marc Zeller’s ACI to exit Aave DAO, MARA opens door to selling balance sheet bitcoin, and more
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons....

PayPal USD tapped to expand TCS Blockchain’s onchain trade financing for trucking industry
Truckers will now be able to exchange TCS utility tokens for PYUSD on the INX-Republic exchange, providing them with quicker cash flows....

US government moves roughly $23,000 in bitcoin from ‘Villanueva’ forfeiture wallet
The transfers drained the Villanueva-labeled wallet entirely, with the bitcoin routed across multiple addresses with no prior activity....