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TD Cowen: The review window for the US cryptocurrency bill may be extended to the August recess, and if not passed, it may be postponed until 2027

According to The Block, investment bank TD Cowen stated that the time window for the U.S. to pass the crypto market structure bill may extend to the August recess, breaking the previous expectation that legislation needed to be completed before the Easter recess.Jaret Seiberg, managing director of TD Cowen's Washington research team, pointed out that the Easter recess is not a critical milestone, and legislative work can continue before and after the recess. With the conclusion of the primaries, some lawmakers will have greater flexibility for negotiations. Seiberg believes that the August recess is the last meaningful legislative window, after which Congress will only meet for 12 days in September and 2 days in October, which is only enough time to handle spending bills and defense authorization bills.He also reiterated that if control of Congress changes after the 2026 midterm elections, the bill may be delayed until 2027. It is expected that the House may shift to Democratic control, at which point the Democrats may choose to delay until 2027 to gain greater leverage. Currently, the crypto bill is stalled due to opposition from the banking sector regarding stablecoin yields and the Democrats seeking conflict-of-interest provisions for government officials, but both sides are reportedly close to reaching a compromise. Seiberg stated that if the bill does not pass in 2026, the SEC will provide the regulatory actions needed for the crypto industry.

OpenSea announced the postponement of the SEA token issuance, and the new issuance date has not yet been announced

OpenSea CEO Devin Finzer posted, "Latest update on SEA: The team has been pushing forward with development at full speed, with the initial plan to launch the first step during the event on March 30, but the OpenSea Foundation has decided to postpone the timeline. The reality is that the entire crypto market environment is currently quite challenging, and SEA will only be issued once. We can either force the release according to the original plan or ensure that all aspects are fully prepared so that this release lives up to the community's expectations. The following measures will be taken:No new reward waves will be conducted; the current reward wave will be the last round. Refund of platform fees is optional: Given our initial commitment to launch in Q1, we will offer a refund of platform fees (only for the portion we collected) to users participating in reward waves 3--6. If a refund is chosen, the Treasures rewards obtained during the corresponding period will be removed from the account. If a refund is claimed along with the Treasure Chest rewards, it essentially means that the transaction fees during this period will be borne by us. The specific process will be announced later.Existing Treasures remain valid: If users continue to hold Treasures, the foundation's previous commitment remains valid: they will be an important reference at TGE. This is independent of the token distribution from historical events. Starting March 31, OpenSea will reduce platform token trading fees to 0% for 60 days. After 60 days, we will introduce a new fee structure that makes fees more competitive for long-term trading users. Last year, we announced plans too early, leading to unnecessary uncertainty in the market. Therefore, when the foundation announces a new timeline, it will be clearer and more cautious."

The vote to "reduce JUP net release to zero" has passed, and the Jupuary airdrop will be indefinitely postponed

The voting on Jupiter's proposal to "reduce the net release of future tokens to zero" officially ended today at 19:00, with the community passing the proposal with a 75% support rate.Previously, Jupiter initiated a new proposal to reduce the net release of JUP to zero in the foreseeable future. The proposal mainly targets the three major sources of JUP releases at present ------ Jupuary airdrop, team share unlock, and Mercurial quota unlock. The specifics are as follows:First, the Jupuary airdrop will be indefinitely postponed, and all 700 million JUP will be returned to the community multi-signature cold wallet for future use. The usage amount and staking snapshot at the current time will be retained. When the market environment, token status, and market sentiment are more suitable, this matter will be re-discussed with the DAO.Second, the release of tokens to team members will be indefinitely suspended. As an alternative, team members will receive JUP in the form of Jupiter's balance sheet debt. If any member wishes to sell their allocated tokens, they will be directly purchased by Jupiter's balance sheet. This move will further strengthen JUP reserves while demonstrating the team's commitment to the future of the JUP token.Third, the selling pressure from Mercurial stakeholders will be fully hedged, which will accelerate the unlocking process, and an equivalent amount of tokens will be purchased through Jupiter's own balance sheet to absorb any impact from potential token sales.
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