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These three altcoins saw significant declines today. Can they reclaim key support levels, or are deeper losses ahead?
Senator Cynthia Lummis sees Bitcoin as a solution to the US debt crisis, proposing a national reserve to leverage its long-term appreciation. Her BITCOIN Act is gaining traction, with 15 states backing similar initiatives.
The crypto market has dipped in response to President Trump’s plan to enact steep tariffs on imported goods from Canada, Mexico, and China beginning on Tuesday.Canada and Mexico have ordered retaliatory tariffs in response, while China promised “corresponding countermeasures” and said it would file a lawsuit with the WTO.Memecoins were particularly hard-hit by the downturn, with many top coins seeing double-digit percentage drops. Trump’s memecoin has fallen nearly 30% over the past week.
Quick Take THORChain’s governance approved a proposal to address a nearly $200 million debt crisis. The approved plan involves converting defaulted debt into equity by issuing creditors a new token called TCY. TCY token holders are entitled to 10% of THORChain’s revenue in perpetuity.
Quick Take Story is a specialized Layer-1 blockchain transforming intellectual property (IP) into a programmable asset class critical for artificial intelligence (AI). IP has emerged as the largest intangible asset class in the world, ranging from code and data to scientific research, and AI models depend on it for both training and inference. By bringing IP on-chain, Story streamlines licensing, automates royalties, and ensures verifiable ownership at scale. This research is commissioned by Story Foundati
- 17:01Arkham: German Government Has Lost $2.98 Billion from "Premature" Bitcoin SalesAccording to ChainCatcher, statistics from Arkham show that the German government sold 49,858 bitcoins at an average price of $57,900. Compared to the current price range of $117,000, the "missed profit" from selling early has reached $2.98 billion.
- 16:48M briefly falls below $0.62, dropping over 35% within an hourAccording to Odaily Planet Daily, market data shows that M briefly fell below $0.62 before rebounding to $0.77, with a maximum drop of over 35% within one hour.
- 16:48Opinion: The Genius Act Prioritizes Stablecoin Holders, and U.S. Banks May Foot the BillAccording to ChainCatcher, citing a report from DL News, the "Genius Act" recently passed by the U.S. Senate is drawing attention from the banking and legal sectors. The bill grants stablecoin holders priority claims on the assets backing those coins in the event of bankruptcy, which could put traditional banks and other clients at risk. Adam Levitin, a law professor at Georgetown University, warned that this arrangement essentially "subsidizes stablecoin issuers at the expense of bank depositors," potentially harming the interests of ordinary bank customers, especially if a stablecoin issuer or its custodian bank goes bankrupt. The current version of the bill requires stablecoins to be backed by highly liquid assets such as U.S. Treasury bonds, mandates monthly disclosure of reserves by issuers, and requires issuers to have the ability to freeze tokens. If passed, banks and other entities would be allowed to issue compliant stablecoins. The bill is currently awaiting review by the U.S. House of Representatives. Although it aims to boost user confidence and strengthen the integration of stablecoins with the real-world financial system, its bankruptcy priority provisions have sparked discussions about regulatory logic, financial stability, and the potential redistribution of interests among banks. Some industry insiders believe the bill could mark a turning point for stablecoin development, while also intensifying concerns about its impact on the traditional financial system.