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These three altcoins saw significant declines today. Can they reclaim key support levels, or are deeper losses ahead?
Senator Cynthia Lummis sees Bitcoin as a solution to the US debt crisis, proposing a national reserve to leverage its long-term appreciation. Her BITCOIN Act is gaining traction, with 15 states backing similar initiatives.
The crypto market has dipped in response to President Trump’s plan to enact steep tariffs on imported goods from Canada, Mexico, and China beginning on Tuesday.Canada and Mexico have ordered retaliatory tariffs in response, while China promised “corresponding countermeasures” and said it would file a lawsuit with the WTO.Memecoins were particularly hard-hit by the downturn, with many top coins seeing double-digit percentage drops. Trump’s memecoin has fallen nearly 30% over the past week.
Quick Take THORChain’s governance approved a proposal to address a nearly $200 million debt crisis. The approved plan involves converting defaulted debt into equity by issuing creditors a new token called TCY. TCY token holders are entitled to 10% of THORChain’s revenue in perpetuity.
Quick Take Story is a specialized Layer-1 blockchain transforming intellectual property (IP) into a programmable asset class critical for artificial intelligence (AI). IP has emerged as the largest intangible asset class in the world, ranging from code and data to scientific research, and AI models depend on it for both training and inference. By bringing IP on-chain, Story streamlines licensing, automates royalties, and ensures verifiable ownership at scale. This research is commissioned by Story Foundati
- 16:24Bank of Canada Explores Technological Pathways for Retail CBDCOdaily Planet Daily – The Bank of Canada has taken a significant step forward in exploring the technical feasibility of a digital Canadian dollar, proposing a system specifically designed for retail central bank digital currency (CBDC) with a focus on simple, everyday payments. The Bank of Canada team has examined the OpenCBDC 2PC model, which was developed in collaboration with the MIT Digital Currency Initiative. This model prioritizes privacy, speed, and decentralization, allowing users to hold digital funds directly, much like digital cash. (CoinDesk)
- 16:23Vitalik Voices Support for Roman Storm, Urges the US to Lead in Creating a Safer World with Less Data LeakageAccording to Jinse Finance, Ethereum founder Vitalik wrote, “An interview with Tornado Cash co-founder Roman Storm (the 2019 FinCEN guidance, which we relied on heavily, clearly states that providers of anonymizing software are not subject to money transmission business licensing regulations. This made us believe that what we were developing should not put us in a high-risk position) was very good. His trial will begin in 10 days. Today, message privacy without backdoors has become widely accepted, and many business and government professionals regularly use tools like Signal. Given how often we now see centralized databases being breached, enhancing privacy protection in areas such as payments, identity, and artificial intelligence should not be seen as something that needs to be ‘balanced’ against security—it is itself a vital component of security. I hope the United States can take the lead in making a world that is safer, freer, and less prone to data leaks a reality. And the first step is to send a clear signal to developers: this important work is welcome.”
- 16:23"Insider Whale" Increases Short Positions in Bitcoin and Ethereum Again, Total Losses Exceed $14 MillionAccording to Jinse Finance, OnchainLens monitoring shows that the "insider whale" @qwatio, after being partially liquidated 10 times in a row, has once again increased his short positions in Bitcoin (40x leverage) and Ethereum (25x leverage). He has already lost $16 million on this trade, and overall, his total losses have exceeded $14 million. Currently, his Bitcoin short position amounts to $55,854,244, with an unrealized profit of $129,125.46; his Ethereum short position amounts to $11,052,100.83, with an unrealized loss of $138,595.90.