The cryptocurrency market is abuzz as Bitcoin (BTC) edges closer to the $1 million mark, a milestone that seemed unimaginable just a few years ago. This unprecedented surge has prompted investors to seek the next high-potential asset, and many are turning their attention to OFFICIALMAGACOIN . The Rise of OFFICIALMAGACOIN Amid Bitcoin’s ascent, OFFICIALMAGACOIN has emerged as a promising contender in the crypto space. Analysts have noted its potential for significant growth, with some predicting a breakout of up to 50,000%. Key factors contributing to OFFICIALMAGACOIN ‘s appeal include: Limited Supply: Capped at 100 billion tokens, creating scarcity that can drive value. Early Adoption Opportunities: Investors have the chance to enter at a ground level, positioning themselves for potential exponential returns. ACT FAST! USE PROMO CODE MAGA50X NOW AND CLAIM YOUR 50% EXTRA BONUS! These values underscore a growing confidence in OFFICIALMAGACOIN ‘s long-term value, driven by increased institutional adoption and favorable regulatory developments. Comparative Analysis of XRP, ADA, TRX, LTC Here are brief descriptions and current prices for XRP, ADA, TRX, LTC XRP: A fast and scalable digital asset designed for cross-border payments, but faces regulatory challenges. ADA: A blockchain platform aiming for scalability and sustainability, yet struggles with adoption speed. TRX: A high-throughput blockchain for decentralized content sharing, though faces centralization concerns. LTC: A Bitcoin alternative with faster transactions, but lacks strong institutional backing. >> DON’T MISS THE NEXT 1000X CRYPTO – CLICK HERE TO JOIN NOW! Conclusion As Bitcoin approaches the $1 million threshold, the crypto market is ripe with opportunities for discerning investors. OFFICIALMAGACOIN stands out as a high-potential asset poised for remarkable growth. Seizing this opportunity early could position investors for substantial returns in the evolving digital currency landscape. Opportunities like this don’t last—secure your stake today at OFFICIALMAGACOIN . 🔹 Website: officialmagacoin.io 🔹 X/Twitter: https://x.com/officialMAGAx The post Crypto’s Next Superstar? OFFICIALMAGACOIN, XRP & Bitcoin Are on Everyone’s Radar! appeared first on TheCoinrise.com .
The Avalanche Foundation and digital payment firm Rain launched the Avalanche Card on Feb. 26, 2025, enabling users in Southeast Asia, Africa, and Latin America to spend cryptocurrencies through Visa’s global network. Avalanche and Rain Partner to Launch Crypto Card for Conversion-Free Spending The card supports transactions using USDC, USDT, Wrapped AVAX (wAVAX), and AVAX,
RSI screams oversold, but is a recovery around the corner or is Bitcoin’s worst drop yet to come?
COINOTAG News reported on February 27 that CryptoQuant’s CEO, Ki Young Ju, shared insights via social media regarding current market trends. He emphasized that panic selling is often an indication
As Cardano (ADA) faces significant bearish pressure amidst Bitcoin’s (BTC) declines, market players speculate on its recovery potential. Despite recent ETF acknowledgments, Cardano’s demand remains lackluster, highlighting macroeconomic uncertainties affecting
Stablecoins and the role of Congress in addressing future digital assets legislation took center stage during one of the Senate Banking Committee's first hearings to focus on what a regulatory framework for crypto may look like. The Wednesday hearing, framed as the jumping-off point for further Congressional action on digital asset regulations, was the first hosted by the banking committee's new digital assets subcommittee and chaired by Wyoming Republican Cynthia Lummis , a longtime crypto proponent . "We're on the precipice of finally creating a bipartisan legislative framework for both stablecoins and market structure," Lummis said in her opening statement, referring to draft legislation she introduced with New York Democrat Kirsten Gillibrand as a natural counterpart to the House's Financial Innovation and Technology for the 21st Century Act. Stablecoins will be first on the committee's agenda though, she said, echoing statements made by White House Crypto and AI Czar David Sacks and South Carolina Republican Tim Scott, who chairs the overall Senate Banking Committee. Former CFTC Chair Timothy Massad, one of the hearing's four witnesses, told the lawmakers to focus on stablecoin legislation for the moment and defer any market structure efforts "for several years." "For four years, the crypto industry has called on the SEC and CFTC to develop rules and guidance and to stop regulating by enforcement; that is now happening," he said. "The SEC has dropped enforcement cases and launched a crypto task force to tackle these issues. We should let these regulatory issue initiatives make progress before rushing to rewrite the securities law." Existing proposals to update market structure regulations to address crypto have the potential to "create more confusion than clarity," he added, particularly around defining how a digital asset might be a security, commodity or something else. These proposals could potentially undermine existing securities laws, especially if they address decentralized finance. "That term is used to describe a lot of things that aren't decentralized," Massad continued. "There are almost always some vectors of control. And even if a process is decentralized or automated, that does not mean it should be exempt from regulation." Virginia Democrat Mark Warner asked the panelists to discuss the possibility of stablecoin users conducting know-your-customer processes, noting that an issuer may conduct KYC but that a stablecoin may be transferred between wallets without those intermediate transfers going through a KYC process. "I want to get to a regulatory framework that works, but I have seen — echoing what others have said from the classified side — oh my gosh, a whole bunch of bad stuff," Warner said. "So help me figure out, and I recognize [for] some people, the anonymity and and the disintermediation role the blockchain plays, but how do we put some minimum protections from issuer all the way back to conversion to fiat?" Lightspark co-founder and Chief Legal Officer Jai Massari noted that even though self-custodied wallets don't conduct KYC, "there is an immutable on-chain record of those transactions that can be monitored, not only by the issuer, but [by] third parties, including law enforcement." While mixers and other tools can obfuscate transactions, custodial wallets still conduct KYC at the end of a chain of transfers, she noted. "I agree that we need to continue, as the industry has done, to develop new tools to address these issues," said Massari.
The US House of Representatives has now proposed a bill that would bar the IRS from regulating taxes in decentralized finance or DeFi platforms. The bill was moved to the House floor by the House Ways and Means Committee through a 26-16 split, and now, the Republicans, who currently dominate the House, are in support of cryptocurrencies. The Ways and Means Committee just passed H.J.Res. 25 – a resolution that repeals an unfair and unworkable cryptocurrency rule that would hamper cryptocurrency holders and the IRS with additional, burdensome paperwork. pic.twitter.com/HRJ1yWJSZA — Ways and Means Committee (@WaysandMeansGOP) February 26, 2025 The resolution targeted an IRS regulation that was passed in December, in which DeFi projects should be classified as brokers. As per the rule, DeFi platforms are required to provide the same reportage standards as brokers involved in equities or debt securities trading. This includes the provision of Form 1099 tax documents to users. The US Treasury Department has stated that the form may assist with reducing errors and improving compliance. House Ways and Means Committee Chair Jason Smith (R-Mo.) claims that the measure burdens DeFi projects unnecessarily while excluding foreign persons. According to Smith, the regulation protects international competitors by setting extremely high standards for U.S. projects only. However, some of the major crypto firms and lobbying groups, such as the Blockchain Association, have opposed the rule. Last week, they sent a letter to Congress asking the congressmen to rescind the regulation. Critics of the rule have also expressed similar opinions, stating that the rule will hamper innovation and put undue pressure on DeFi platforms. Rep. Mike Carey went further by stating that the regulation would overburden both taxpayers and the IRS. Republican Rep. Jason Smith, who is the chairman of the committee, accused the federal government of overreaching existing tax laws. Democratic lawmakers, however, have defended the rule as essential, mainly regarding tax compliance. Rep. Richard Neal defended the regulation, stating that it is against tax avoidance and that the law requires everyone to pay what is due. If this rule is repealed, revenue loss would aggregate to $3.9 billion within a decade in the United States alone. Broader crypto industry response The resolution corresponds to initiatives in the Senate, where Sen. Ted Cruz (R-TX) presented a similar measure in January. Cruz also expressed his disapproval of the IRS rule by arguing that blockchain technology faces risks of stagnation in the United States. However, the resolution cannot take effect without approval by both chambers of Congress and the president, which is a provision of the Congressional Review Act. If adopted, the measure will repeal the IRS rule, meaning that DeFi projects will no longer be subject to tax reporting. The IRS has recently made clear the taxation on staking rewards for cryptocurrencies by stating that they are subject to tax when received. Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot
Bitcoin Magazine Stablecoins, Not Bitcoin, In Focus At First U.S. Digital Assets Subcommittee Hearing Today, the Senate Banking Subcommittee on Digital Assets hosted its first hearing, entitled “Exploring Bipartisan Legislative Frameworks for Digital Assets,” at which certain members of the subcommittee and crypto industry witnesses predominantly discussed stablecoin regulation. Senator Cynthia Lummis (R-WY), a long-time proponent of the Bitcoin and digital asset industry, presided over the hearing with assistance from ranking member of the subcommittee, Senator Ruben Gallego (D-AZ). The witnesses included Tim Massad, former CFTC Chair and Research Fellow at the Kennedy School of Government at Harvard University; Jai Massari, Chief Legal Officer at Lightspark; Jonathan Jachym, Global Head of Policy and Government Relations at Kraken; and Lewis Cohen, Partner at Cahill Gordon & Reindel LLP. Setting the tone for the meeting, Senator Lummis stated that she intends to do her part in passing bipartisan legislation for Bitcoin and stablecoins. (This was one of the few times during the meeting that the word “Bitcoin” was mentioned. One of the only other times in the hearing it was mentioned was when Massad voiced that he’s objected to the creation of a Strategic Bitcoin Reserve .) Throughout the hearing, Massad stressed the importance of monitoring stablecoin transactions. He suggested extending the “regulatory perimeter” to address AML (Anti-Money Laundering) challenges associated with stablecoins and even proposed that smart contracts be designed in a way that mitigates the risk of bad actors using them. “Our entire [Bank Secrecy Act] framework relies on centralized intermediaries.” @timmassad calls on Congress to extend the “regulatory perimeter” and require “stablecoin issuers to aggressively monitor transactions and freeze stablecoins.” pic.twitter.com/Y5TyGRx4i1 — Nick Anthony (@EconWithNick) February 26, 2025 “[We might] program smart contracts so that transactions can’t go through unless someone has been properly vetted,” said Massad. Massad also suggested that stablecoin issuers “aggressively monitor stablecoin activity” as a means to keep an eye out for AML violations. Massari pointed out that authorities can also surveil stablecoin transactions, as these assets run on public blockchains. She also called for sensible regulation around the technology — so long as it isn’t too heavy-handed. “We have a tendency [when regulating] financial services to take the new thing and cram it into the old,” she said. What is more, she also advocated for a “common set of standards” to govern stablecoin issuers so that users can feel more confident in all stablecoins being properly backed. Jachym made efforts to shift the focus of the hearing from stablecoins to the Digital Asset Market Structure bill , claiming that it was “critical” that regulatory agencies construct clear guidelines for which digital assets are securities and which aren’t. He didn’t receive much uptake though. Massad stated that discussing stablecoins was more important than discussing the market structure bill, making the case that the market structure bill isn’t a pressing matter, as regulators can work with existing securities laws to regulate crypto markets. Jachym stressed the point that “the jurisdictional lines [around] digital assets should be simple” and said that “the lack of regulatory certainty in the U.S. has impeded growth [in the crypto industry.]” Cohen made a similar claim, stating that crypto entrepreneurs in the U.S. “feel the constant threat of litigation,” alluding to former SEC Chair Gary Gensler’s “ regulation-by-enforcement ” approach. He also shared that the “uncertain regulatory environment has left both consumers and users of digital assets at risk.” The only participant in the hearing who directly pushed back on the U.S. government’s desire to (over)regulate digital assets was Senator Bernie Moreno (R-OH). “The government has this total and complete desire to control things,” said Senator Moreno, who went on to share that a number of recent technologies have been used for illicit purposes, not just crypto. “Why all of a sudden when we got to digital currencies did we think here in Washington, D.C. that we are going to decide the pace of innovation?” he concluded. Throughout the meeting, the subcommittee members asked the witnesses which jurisdictions around the world the U.S. should take cues from in modeling its digital asset regulatory framework. Massad made the case for Europe and the Markets in Crypto-Assets Regulation (MiCA) framework, which the European Union just put into effect, while Jachym suggested looking to states like Wyoming, where Kraken is based, to learn from the crypto laws the state’s legislature has passed . While the Senators on the subcommittee and the witnesses present offered various perspectives on the topics discussed, a certain sentiment permeated the hearing, which was that it’s high time politicians on both sides of the aisle come together to create clear rules of the road for the crypto industry. “Bipartisan support for crypto policy is no longer a distant goal on the horizon,” said Jachym, with a certain sense of relief. This post Stablecoins, Not Bitcoin, In Focus At First U.S. Digital Assets Subcommittee Hearing first appeared on Bitcoin Magazine and is written by Frank Corva .
The House is challenging IRS regulations affecting decentralized crypto platforms. A proposed bill seeks to repeal the IRS's transaction reporting policy. Continue Reading: Congress Takes Bold Steps to Challenge IRS Regulations on Crypto Platforms The post Congress Takes Bold Steps to Challenge IRS Regulations on Crypto Platforms appeared first on COINTURK NEWS .
Bitcoin (BTC) price plunged to a new 120-day lows of $82,250 on Wednesday Feb 28 as US tech stocks sell-off spread bearish headwinds across the crypto sector. Markets data shows a prolonged selling spree among Bitcoin ETFs could escalate the BTC price downtrend further. Bitcoin (BTC) losses in February surpass 20% amid NVIDIA rally Bitcoin (BTC) remains under intense bearish pressure, sinking to fresh multi-month lows as macroeconomic uncertainty and aggressive capital rotation weigh on the market. BTC has now lost over 20% in February, marking its worst monthly performance since the FTX collapse in November 2022. NVIDA Price Action After Q4 Earnings Report, Feb 26 2025 While the BTC price decline has been primarily attributed to multiple macro factors, one of the biggest catalysts emerged from an unexpected source: NVIDIA’s explosive earnings report. The semiconductor giant posted $39.3 billion in Q4 revenue, marking a 12% increase quarter-over-quarter and a staggering 78% jump year-over-year. Profits also skyrocketed, with GAAP earnings per share (EPS) at $4.93, up 33% from the previous quarter, while non-GAAP EPS soared 28% to $5.16. This blockbuster performance triggered a 5% rally in NVIDIA’s stock, adding over $500 billion to its market capitalization within a single session. Bitcoin (BTC) Price Action Feb 26, 2025 As capital flooded into high-growth AI stocks, Bitcoin suffered. BTC price plunged 5% on Thursday alone, dropping from $86,680 to $82,256, highlighting a dramatic loss of investor confidence in digital assets. The sharp correction reflects mounting concerns over U.S. protectionist trade policies, geopolitical tensions, and sticky inflation, which could drive investors toward traditional equity markets rather than speculative assets like Bitcoin. Bitcoin ETFs bleed $2.1 billion in six consecutive days Beyond NVIDIA’s dominance in equity markets, Bitcoin’s downtrend has been reinforced by a persistent exodus of institutional capital from BTC exchange-traded funds (ETFs). According to, Bitcoin ETFs have recorded outflows for six straight trading sessions, wiping out $2.1 billion from the market. This trend began on February 18 and intensified after NVIDIA’s earnings, as investors reallocated funds toward high-performing tech stocks. Bitcoin ETF Flows, Feb 2025 | Source: Fairside Breakdown of Bitcoin ETF Outflows (Feb 18 – Feb 25), according to Fairside data: Feb 18: -$60.7M Feb 19: -$64.1M Feb 20: -$364.8M Feb 21: -$62.9M Feb 24: -$539.0M Feb 25: -$1.14B Total Outflows: $2.1 billion withdrawn in six days This persistent outflow suggests that institutional investors are shifting away from Bitcoin exposure in favor of equities. If NVIDIA’s rally continues and capital rotation intensifies, BTC could remain vulnerable to further downside. The absence of fresh inflows into BTC ETFs weakens Bitcoin’s support structure, raising the risk of a deeper correction below $80,000 in the short term. If macroeconomic pressures persist, BTC could struggle to reclaim its psychological support at $85,000, leaving it exposed to further losses. Bitcoin is facing a perfect storm of capital flight, macroeconomic uncertainty, and an AI-driven stock market frenzy. The $2.1 billion ETF outflow underscores investor hesitancy, with BTC’s February losses now exceeding 20%. With NVIDIA absorbing billions in liquidity, Bitcoin’s short-term trajectory hinges on whether capital outflows slow or accelerate. If AI stocks continue their ascent and BTC ETF redemptions persist, Bitcoin could be at risk of testing $80,000 sooner rather than later. BTC Price Forecast: $80K support at risk Bitcoin price forecast charts show momentum remains under severe bearish pressure, with BTC trading at $84,784 after a 20.53% decline over the past 26 days. The sell-off has intensified as BTC breaks below key support levels, with Bollinger Bands (BB) indicating extreme volatility. The price is now hovering near the lower BB at $86,736, while the upper BB sits at $102,907, highlighting the magnitude of recent downside moves. BTC Price Forecast The Relative Strength Index (RSI) has plunged to 25.92, a deeply oversold level not seen in months. Historically, RSI below 30 suggests that BTC could be due for a short-term relief rally. However, the downtrend remains strong as the RSI continues to trend lower, confirming sustained selling momentum. If Bitcoin fails to reclaim the mid-BB resistance at $94,822, bearish pressure could drive BTC toward the psychological $80,000 level, where buyers may attempt to re-enter. Despite the bearish breakdown, a potential short-term bounce remains possible if BTC stabilizes above $84,500 and RSI begins to recover. If Bitcoin closes a daily candle above $86,736, bulls may regain control and push prices toward $90,000. However, failure to hold above $84,000 could accelerate losses, exposing BTC to a steeper drop below $80,000 in the coming sessions. The post Bitcoin Price Analysis: NVIDIA exposes BTC to $80K breakdown risk as ETFs bleed $2.1B in 6 days appeared first on CoinGape .