FDUSD

FDUSD

FDUSD Issuer First Digital Group to Go Public Through SPAC Merger, Bloomberg Reports

The combined value of dollar-linked stablecoins has crossed $301 billion for the first time, according to DeFiLlama’s live dashboard. That is up about 2% over the past week and 6.5% in the last 30 days as trading and DeFi activity increased across multiple chains. Tether’s USDT r...

PayPal is about to make crypto transfers in the US easier with one-time payment links for Bitcoin, Ethereum, PYUSD, and other tokens. Users will be [...]

Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.

Federal Reserve Governor Christopher Waller has urged key personalities within the U.S. financial space to approach DeFi and crypto without fear. Waller believes that the digital assets are here to stay and will continue to drive advancement in the U.S. payments system. In Brief ...

First Digital USD live on TON Blockchain, enhancing stablecoin adoption and liquidity. Read original article on kanalcoin.com

In an interview, Input Output CEO Charles Hoskinson declared that Cardano’s long-running efforts to bring DeFi functionality to Bitcoin are no longer theoretical. Speaking with Crypto Megan, Hoskinson laid out the architecture, live integrations, and strategic rationale for what he described as a “multi-trillion dollar opportunity” to merge Bitcoin’s liquidity with Cardano’s programmability. “This is not the beginning,” Hoskinson said, “but it’s the midpoint of a very long conversation about how does Bitcoin achieve programmability.” What began years ago with experiments like Colored Coins and Mastercoin has now matured, he argued, into real interoperability between Bitcoin and other smart contract systems—driven by breakthroughs like Taproot, BitVMX, and an expanding partner ecosystem. Cardano Tech Goes Live on Bitcoin Mainnet One of the most striking announcements came when Hoskinson confirmed that live transactions are already flowing between Bitcoin mainnet and Cardano mainnet. “We had demonstrated transaction between Bitcoin mainnet and Cardano mainnet where an ordinal was able to move back and forth,” he said. “It really proves not only the concept but it proves it at scale.” Cardano’s role in this emerging stack, according to Hoskinson, is to serve as the computational layer to Bitcoin’s value and security layer. “Bitcoin is a very secure audit layer… Cardano is an amazing computation layer. And when you pull these two pieces together and have a little toggle to go back and forth, we can allow a seamless experience,” he said. This toggle—a major part of the user experience innovation—is designed to abstract away complexity for end users. “You have a switch, and you push the switch and it says DeFi mode,” Hoskinson explained. “No mention of another network, no mention of other things… All your transactions you pay fees in Bitcoin and all your returns you get back in Bitcoin.” From a design philosophy standpoint, Hoskinson emphasized the importance of staying true to Bitcoin’s cultural and ideological core. He identified three rules that define legitimate Bitcoin DeFi: it must use Bitcoin for security, Bitcoin for fees, and return yield in Bitcoin. “Unless and until you’re able to present that experience, you’re kind of dead in the water philosophically, culturally, and technologically,” he said. For years, this was an unsolved problem. Now, according to Hoskinson, it isn’t. The infrastructure stack, he said, is maturing rapidly thanks to contributions from Cardano-aligned partners like Fairgate, Sundial, and the Lace Wallet team. The toggle switch was first showcased during this year’s Bitcoin conference, and is already live in the Lace desktop wallet. Hoskinson also revealed that Cardano’s development environment is being reused on Bitcoin via BitVMX. “We showcased… is there a path where Cardano programming language can be used to write Bitcoin script?” he asked rhetorically, before answering with live demos that included tools across both chains. He emphasized that the model builds on Cardano’s foundational similarities with Bitcoin , from its UTXO model to its native assets system. “It just has all the things you always wished Bitcoin had,” he said, “but if you’re a Bitcoin developer, you’ll instantly get how Cardano manages.” That compatibility extends to Cardano’s Babel fees mechanism, which enables users to pay transaction costs in currencies other than ADA—including Bitcoin. “So just like when a tourist goes to France and they pay with dollars and don’t even realize they’re spending euros… under the hood, there’s ADA being transacted, but the user doesn’t see it.” Hoskinson also revealed ambitions for a Bitcoin-backed algorithmic stablecoin, building on Cardano’s experience with Jed and his early work with BitShares. “I’d love to do a Bitcoin-backed algorithmic stablecoin. That would be incredible. It’s almost like the Bretton Woods agreement—you have gold-backed money, now you have Bitcoin-backed money.” On the adoption curve, he believes the combination of user experience improvements, reduced fees, and clear trade-off control is critical. “You don’t pick the security model for the user—you let them decide,” he said, describing a UX layer where Bitcoin maximalists can toggle to a purist configuration, while others may prefer lower fees and faster throughput. Hoskinson framed the entire initiative as part of a broader shift toward pragmatic cross-chain cooperation in crypto. “Bitcoin and Cardano kind of make each other better,” he said. “This is the changing of the ways in crypto. We’ve kind of buried the hatchet.” And the scale is massive . “It’s four times larger than the market cap of Solana and Ethereum combined,” Hoskinson claimed. “Bitcoin at this juncture, especially with the bull market coming, has almost unlimited liquidity. So it’s the ecosystem that really needs this.” While Cardano has long pushed for this integration, Hoskinson made clear that the leap from vision to mainnet deployment changes everything. Cardano’s Bitcoin DeFi roadmap is no longer just theoretical—it’s alive, on-chain, and ready to scale. At press time, Cardano traded at $0.7598.

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When the House of Representatives gavels in today, the chamber will devote its entire floor schedule to what Republican leaders are calling “Crypto Week,” a coordinated push to vote on three high-profile digital-asset bills: the Senate-passed Genesis of Electronic Notes and Issuance Under Supervision (GENIUS) Act, the Anti-CBDC Surveillance State Act, and the Digital Asset Market Clarity (CLARITY) Act. Majority Leader Steve Scalise cast the moment in sweeping terms, saying the package “further[s] the President’s pro-growth and pro-business agenda, and provide[s] a clear regulatory framework for digital assets.” The intra-Republican debate burst into the open late last week when Ohio Republican Warren Davidson warned in a post on X that the sequencing chosen by party leaders could backfire. “Crypto Week next week in the House,” he wrote on 11 July. “The Senate’s GENIUS Act to regulate stablecoins should be amended… Instead, they want to pass it without amendments… Without the CBDC ban, CBDC delivery architecture would be in place, and nothing would protect self-custody. For this reason, I will oppose the GENIUS Act.” Davidson’s chief fear is that the narrower stablecoin bill will sail to the President’s desk while the broader market-structure and CBDC measures stall in the Senate, leaving what he calls a “hollowed-out” framework in place. The episode exposes a rift between members who prize incremental wins—especially a federal stablecoin statute many lobbyists have sought for years—and libertarian-leaning lawmakers who see a CBDC ban and explicit protections for self-hosted wallets as existential. What Each Crypto Bill Does, And Where It Stands Stablecoins. The GENIUS Act, which cleared the Senate 68-30 in June, would require any issuer of a crypto stablecoin to hold reserves “backed one-to-one by US currency or other similarly liquid assets” and to publish a monthly breakdown of those reserves. Because the bill has already passed the upper chamber, a clean House vote would send it directly to President Trump, who has publicly promised to sign it. CBDCs. The Anti-CBDC Surveillance State Act (H.R. 1919) would prohibit the Federal Reserve from “using a central bank digital currency to implement monetary policy” and bar any Fed-issued retail CBDC altogether. The bill advanced from committee in May but lacks a Senate companion with the 60 votes needed to overcome a filibuster—precisely the bottleneck Davidson and other skeptics highlight. Market structure. The 236-page CLARITY Act carves crypto assets into three buckets—securities, commodities, and “permitted payment stablecoins”—and removes the last two from the statutory definition of a security. Section-by-section summaries note that the measure directs the SEC and CFTC to write parallel rulebooks and creates provisional registration regimes for exchanges, brokers, and custodians. Unlike GENIUS, CLARITY has not yet been taken up in the Senate; Banking Committee Chair Tim Scott has promised a hearing “by the end of September,” but no legislative text exists in that chamber. Democrats, who were pivotal in sending GENIUS through the Senate, are signaling sharper resistance in the House. Rep. Maxine Waters, the ranking Democrat on Financial Services, derided the GOP branding as “‘Anti-Crypto Corruption Week,’ calling all three bills dangerous pieces of crypto legislation.” The legislative drumbeat has coincided with a fresh all-time-high in Bitcoin above $121,000 and a rally in altcoins. Independent trader Cas Abbé summed up the mood via X: “US House has designated July 14–18 as ‘crypto week’…It’s expected that all of them will be passed in 2025, which will set the stage for a massive rally.” At press time, the total crypto market cap was at $3.75 trillion.