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The Senate Agriculture Committee will hear from prospective CFTC chair Brian Quintenz, who could be the sole commissioner at the US regulator by the end of 2025.
🚀 Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin’s transition into
Some U.S. banks are panicking over a growing threat: stablecoins. They’re not worried about volatility or speculation; they’re worried about losing trillions in customer deposits. This week, that anxiety got louder after lawmakers in Washington passed the GENIUS Act, a bill that lays out legal rules for stablecoins in the U.S. The House of Representatives approved the bill on Thursday with a 308-122 vote, and it just got signed into law by President Donald Trump. The reason banks are tense isn’t complicated. They’re staring down the possibility of a serious cash drain. A Treasury Department report released in April warned that stablecoins could cause up to $6.6 trillion in deposit outflows, depending on whether issuers are allowed to offer returns that match or beat bank accounts. Banks know that payments are their turf, and cross-border transfers, in particular, are vulnerable. These transfers currently take days and involve high fees. Stablecoins don’t have those problems. Banks try to block stablecoin incentives Even though the GENIUS Act bans stablecoin issuers from paying interest, banks aren’t convinced that’s enough. They’re watching crypto companies experiment with ways to reward holders anyway. Coinbase, for example, gives customers a 4.10% reward for holding USD Coin (USDC). That coin is issued by Circle, which also splits the yield it earns from government-backed securities with Coinbase. Critics say this looks almost identical to paying interest. Coinbase insists it’s not the same thing and claims the rewards program is separate from its deal with Circle. Still, that hasn’t stopped banks from raising alarms. The Independent Community Bankers of America sent a letter this week to House leadership asking them to tighten the rules so that firms can’t skirt the law with clever wording. The GENIUS Act’s passage is just the first step. Federal regulators still need to decide how much capital stablecoin issuers must hold. That’s another area where banks feel exposed. If stablecoin issuers don’t face the same capital or liquidity requirements, they could operate with less oversight while pulling in more money. Fed access becomes a flashpoint for regulators The question of Federal Reserve access is also heating up. Right now, only banks get to use the Fed’s backstop tools during market stress. But the GENIUS Act doesn’t block nonbanks from accessing the Fed, which means the decision falls to the Fed itself. That’s a problem for banks because they argue that anyone getting access to the Fed’s benefits should also face the same rules they do. If consumers start pulling cash out of FDIC-backed accounts and putting it into stablecoins, the money might still end up in a bank, but in a single account that’s too large to be insured under the $250,000 FDIC limit. That creates a layer of risk that didn’t exist before. And if fewer people keep their money in traditional bank accounts, banks will have a harder time making loans, especially to smaller businesses and households. That’s why banks argue the Fed needs to step in and level the playing field before stablecoins get too far ahead. Even with the risks, not all banks are fighting this trend. Some of the largest banks in the U.S. are exploring the idea of launching their own stablecoin through a joint effort. They want to control the rails rather than get left behind. The thinking is that if Walmart, Amazon, and other multinationals are going to experiment with launching stablecoins, and they are, then banks need their own token to stay in the race. Payment companies are watching too, but they don’t seem nearly as stressed. Just today, Mastercard described stablecoins as “enabling faster, lower-cost cross-border payments,” a clear sign that they’re more interested in integration than competition. Cryptopolitan Academy: Tired of market swings? Learn how DeFi can help you build steady passive income. Register Now
From stablecoins to staking, ETH is becoming the reserve asset of the onchain economy.
Ethereum has surged more than 70% since mid-June, marking one of its most impressive rallies of the year. The move has been driven by strong momentum, with bulls firmly in control as ETH recently reclaimed the critical $3,500 level. Notably, the uptrend has shown little to no retracement since the initial breakout, signaling sustained buying interest and confidence among investors. Related Reading: All 40K Remaining Bitcoin From The 80K Whale Just Moved: $4.75B In One Wallet Now One of the most striking developments supporting this move comes from CryptoQuant, which highlights the emergence of a significant premium on Ethereum traded through Coinbase. This is particularly noteworthy because Coinbase is a platform predominantly used by US institutions and high-net-worth individuals. The premium suggests aggressive spot buying by whales, indicating renewed institutional interest in Ethereum. This renewed demand comes as the broader crypto market sees clearer regulatory signals and increasing ETF flows into ETH-related products. As Ethereum continues to outperform and attract capital, traders are watching closely to see if this momentum will carry into a broader altcoin rally—or even signal the start of a long-awaited altseason. US Whales Lead the Charge as Ethereum Buying Activity Accelerates According to a recent report by CryptoQuant analyst Crypto Dan, Ethereum is seeing a notable increase in buying activity, particularly from US-based whales. The steady rise in accumulation, combined with a clear premium on Coinbase, suggests that high-net-worth players are positioning themselves ahead of further upside. Supporting this trend, daily inflows into Ethereum spot ETFs have surged to new all-time highs. This sharp spike reflects growing institutional confidence in ETH as a core digital asset, especially following recent regulatory clarity in the US. With Ethereum now trading above $3,600, demand continues to outpace supply across multiple channels. What makes this rally especially interesting is the current market environment. On-chain metrics show that Ethereum is not yet significantly overheated. Indicators such as NUPL (Net Unrealized Profit/Loss) suggest room for further expansion before excessive euphoria sets in. This creates favorable conditions for ETH to consolidate at higher levels before potentially breaking out again. However, the coming weeks will be crucial. If strong inflows and bullish momentum persist into late Q3 2025, analysts warn it could trigger signs of overheating. While we are not there yet, repeated vertical moves without retracement should prompt caution. Investors may need to reassess risk levels if the pattern continues. Related Reading: Altcoins Reclaim Key Technical Level – Can Momentum Sustain This Time? Ethereum Breaks Key Resistance With Strong Weekly Candle Ethereum is currently trading at $3,620 with two days left before the weekly candle closes, up more than 21% so far. This ongoing rally has pushed ETH firmly above the $2,852 resistance level — a crucial zone that capped price action for months. The move comes with high volume and follows a breakout above the 50-, 100-, and 200-week moving averages, now all reclaimed as support at $2,654, $2,664, and $2,430, respectively. With momentum accelerating and buyers clearly in control, market attention is shifting toward the next key resistance at $3,742, marked by the weekly wick high from December 2024. Related Reading: Bitcoin Retail Demand Rebounds – $0–$10K Transfer Volume Turns Positive Although the candle has not yet closed, its current size and structure highlight growing bullish strength. This surge builds on Ethereum’s 70% rally from mid-June, suggesting that an expansion phase may be underway. If ETH holds near or above current levels by Sunday, it would confirm one of the strongest weekly performances this year and potentially trigger further upside. Until then, traders are watching closely to assess whether this breakout can sustain its pace or if a near-term pullback is due after such an aggressive move. Featured image from Dall-E, chart from TradingView
Institutional capital brings Bitcoin stability and status, but also systemic risk, regulatory pressure, and a creeping erosion of its core ethos.
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Microsoft (MSFT) has shut its movies and TV store on Xbox consoles and Windows PCs. As of today, new movies or TV shows from the MSFT Store on Xbox or Windows are no longer accessible for purchase. However, previously purchased content on devices is still accessible. “Microsoft no longer offers new entertainment content for purchase, including movies and TV shows, on Microsoft.com, Microsoft Store on Windows, and the Microsoft Store on Xbox” says a Microsoft support page published today. Microsoft has also said that it will not offer refunds for purchases. MSFT and Xbox seem to be on a mission to get rid of what they call “bloat” in the corporation. In the previous year and a half, they have laid off workers four times, even though Microsoft made $171 billion in profit last year. Microsoft’s support for playback issues “Downloads will continue to be available on Windows and in HD max resolution,” says Microsoft. However, to play the content that was already purchased, the owner has to use the Movies & TV app on Windows or Xbox instead of another service. Microsoft has officially announced the discontinuation of movies and TV series for purchase or rental through the Xbox and Windows Stores. The decision was implemented today. pic.twitter.com/8DfFGZHEWc — DigitaleAnimeEN (@DigitaleAnimeEN) July 18, 2025 US citizens can use Movies Anywhere to sync purchased content with other services supporting Movies Anywhere. While the company will still offer support for any playback issues with previously purchased content, users will count on MSFT to keep its servers running well into the future. The closure of Microsoft’s Movies & TV store has been a long time coming, especially for Xbox and Windows users who have been wary since the company shut down its Groove Music service. The Movies & TV storefront first appeared as part of the Zune Video Marketplace, later evolving into Xbox Video, and eventually becoming the Movies & TV app and store. After years of changes and rebranding, Microsoft is finally phasing it out. MSFT competitors step up Microsoft is now responsible for delivering movies and TV content on Windows and Xbox to services like Amazon, Netflix, Apple TV, and others. MSFT’s biggest competitor in video streaming, Netflix, has reported much higher profits than Wall Street expected in the April to June quarter. The corporation in Los Gatos, California, made $3.1 billion, or $7.19 per share , 46% more than last year. The company’s revenue went up 16% to $11.08 billion. Management also boosted their revenue prediction for the year, saying they think their content portfolio will get more subscribers in the second half than in the first. This could be possible now that Microsoft has stepped down. “We’re really incredibly excited about the back half of this year and confident that it keeps rolling in ’26,” Netflix co-CEO Ted Sarandos told analysts during a Thursday video conference. Unlike most major tech companies, Netflix has had the benefit of peddling a service that so far has avoided being whipsawed by President Donald Trump’s fluctuating trade war. However, Trump has threatened to introduce tariffs on entertainment outside the US, which could hit Netflix especially hard because of its global reach. In an apparent olive branch for the president, Netflix made the unusual move of citing its commitment to the US in its quarterly shareholder letter. The company disclosed that it had invested an estimated $125 billion in the US from 2020 to 2024 and cited sound stages and production facilities in New Mexico and New Jersey as examples of its ongoing expansion in its home country. Your crypto news deserves attention - KEY Difference Wire puts you on 250+ top sites