According to Cointelegraph, the Guiding and Establishing National Innovation for US Stablecoins of 2025 Act, commonly referred to as the GENIUS Act, encountered a significant hurdle in the United States Senate on May 8. The bill, which aimed to enhance regulatory clarity for digital assets, particularly stablecoins, failed to pass cloture, marking a setback for cryptocurrency regulation efforts in the country. Sponsored by Senator Bill Hagerty and co-sponsored by Senators Tim Scott, Kirsten Gillibrand, Cynthia Lummis, and Angela Alsobrooks, the bill faced unexpected opposition from Senate Democrats. Concerns were raised regarding U.S. President Donald Trump’s involvement in cryptocurrency ventures, prompting last-minute amendments to the bill. These amendments included stricter requirements for stablecoin issuers and additional provisions for Anti-Money Laundering to address the concerns of Senate Democrats. The GENIUS Act was perceived as a bipartisan initiative designed to bolster the regulatory framework for digital assets in the United States. Its primary focus was on stablecoins used for payments, which were viewed as a means to extend the dominance of the U.S. dollar internationally while avoiding more contentious cryptocurrency topics. Despite these intentions, the bill's failure to advance has sparked criticism from Senate Majority Leader John Thune. He expressed frustration with the Democratic opposition, stating, “Democrats have been accommodated every step of the way […] frankly, I just don’t get it.” As the situation develops, further updates will be provided to shed light on the future of cryptocurrency regulation in the United States.

Bitcoin (BTC) price has surged to $100,000, its highest level in over two months, triggering major market activity. As excitement builds, large investors, known as whales, have sold over 60,000 BTC to lock in profits. source: https://www.thecoinrepublic.com/2025/05/08/bitcoin-price-hits-100k-as-whales-sell-over-60000-btc-for-profits/

The move came with strong momentum and a steep price trajectory, as seen in the latest chart data, but traders […] The post Ethereum Blasts Past $2,000, But Is a Cool-Off Coming? appeared first on Coindoo. source: https://coindoo.com/ethereum-blasts-past-2000-but-is-a-cool-off-coming/

With states split on crypto, what makes Texas confident enough to lead the charge on a Bitcoin reserve? source: https://ambcrypto.com/texas-one-step-away-from-creating-official-bitcoin-reserve/

The startup recently closed an oversubscribed $30 million funding round backed by 1kx and Blockchain Capital. source: https://www.theblock.co/post/353523/camp-network-launches-testnet-for-ip-focused-blockchain-after-30-million-raise?utm_source=rss&utm_medium=rss

The Guiding and Establishing National Innovation for US Stablecoins of 2025 Act, known as the GENIUS Act, failed to pass cloture in the United States Senate on May 8, dealing a slight blow to cryptocurrency regulation in the country. To address the concerns of Senate Democrats, the bill had already been amended to include stricter requirements for stablecoin issuers for further provisions for Anti-Money Laundering. The GENIUS Act was seen as a bipartisan effort to increase regulatory clarity for digital assets in the United States source: https://cointelegraph.com/news/us-genius-stablecoin-act-fails-to-pass-cloture-by-to-vote?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Cryptocurrencies have rallied as Trump has unveiled a “maxed-out” U. S. –UK trade deal showing a softer tariff stance. Bitcoin has topped $100,000 and altcoins have followed, though analysts note low volume may bring short-term swings as markets await more details. source: https://cryptonews.com/news/btc-100k-trump-uk-deal-volatility/

A new report by Solidus Labs on Thursday exposed rampant fraudulent activity in Solana's (CRYPTO: SOL) meme coin market, identifying that 98. 7% of tokens on the decentralized exchange Pump. Fun are involved in pump-and-dump source: https://www.benzinga.com/markets/cryptocurrency/25/05/45297511/98-of-pump-fun-tokens-are-frauds-the-extractive-nature-of-solana-meme-coins?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

The Ethereum Foundation Ecosystem Support Program (EFESP) has announced the donation of $32. 65 million in grants for Q1. In its quarterly allocation report released today, the Foundation said it donated the funds to over 90 projects. In the report, the Foundation listed the grant recipients, the project they got the funding for, and which category […] source: https://www.cryptopolitan.com/ethereum-foundation-awards-32-65-million-in-q1-grants-to-over-90-projects/

Popcat (CRYPTO: POPCAT) has jumped 17% in a day, reigniting the meme coin mania as traders expect it to chase meme heavyweights Dogecoin (CRYPTO: source: https://www.benzinga.com/markets/cryptocurrency/25/05/45297382/popcat-surges-17-in-a-day-trader-predicts-explosive-move-to-1-outpacing-dogecoin-shiba-inu?utm_source=cryptopanic.com&utm_campaign=partner_feed&utm_medium=partner_feed&utm_content=site

Su Zhu and Kyle Davies, co-founders of the failed hedge fund Three Arrows Capital, have launched a new memecoin called *Three Arrowz Capitel*, which has raised concerns due to 84% of its supply being controlled by insiders. The token has already lost over 70% of its value since its launch, sparking fears of price manipulation and drawing criticism for the duo's controversial past and ongoing legal issues.