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Crypto

Y Combinator urges swift Senate passage of CLARITY bill

U.S. startup accelerator Y Combinator has publicly urged the Senate to pass the CLARITY bill, a digital asset market structure proposal. It said all YC companies would eventually use cryptocurrency technology, including stablecoins, and stressed the need for a regulatory framework. The company described blockchain as an “Internet of Assets” and cited use cases such as cross-border payroll and faster marketplace payouts. The bill would clarify oversight by asset type and includes customer protections.

Crypto

U.S. strategic bitcoin reserve bill takes shape with quarterly reserve proof, external audits mandated

The full text of a U.S. bill on a strategic bitcoin reserve, H.R. 8957, has been released, detailing a structure that effectively locks up federal bitcoin for 20 years. The bill mandates quarterly public cryptographic “proof of reserves” for all government-held bitcoin, along with independent third-party audits and oversight by the inspector general. It also sets limits on disposals and bars using new borrowing, new taxes or deficit spending to acquire bitcoin.

Crypto

Bitcoin rebounds after breaking below $60,000; focus on AI funding shift and rate outlook

Bitcoin fell below $60,000 for the first time since last October and rebounded to around $63,000 on bargain buying. The broader crypto market slid, with heavy liquidations. Investors focused on stronger U.S. jobs data that pushed back rate-cut expectations, and on large AI-related fundraisings seen as drawing money from risk assets. Decrypt reported Strategy sold bitcoin for the first time in four years, hurting sentiment, while spot crypto ETFs saw outflows.