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New Bitcoin Reserve Bill Pressures Treasury On Custody Rules

by admin September 9, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The US House Appropriations Committee has advanced H.R. 5166 — the Financial Services and General Government (FSGG) spending bill for FY2026 — with language that would formally direct the Treasury Department to spell out how the federal government will custody Bitcoin and other digital assets it acquires, explicitly including holdings earmarked for the newly created Strategic Bitcoin Reserve. The bill was reported on September 5, 2025, as House Report 119-236 and placed on the Union Calendar.

Congress Demands Public Information On Bitcoin Reserve

At the statutory level, Section 138 of the reported bill requires the Treasury, within 90 days of enactment, to deliver a public plan for the “secure and efficient custody” of federal digital assets, “including assets held under the Strategic Bitcoin Reserve and the US Digital Asset Stockpile.” The plan must delineate custody architecture, legal authorities, cybersecurity controls, and interagency workflows for transfers and safekeeping.

Section 137 adds a second mandate: a report on the practicability of establishing the reserve and the related stockpile, addressing potential barriers, the expected impact on the Treasury Forfeiture Fund, how Bitcoin and other digital assets would be presented on the federal balance sheet, and any third-party contractors used for custody. Read together, the two sections would force the Treasury to clarify both whether and how the federal government will maintain long-term Bitcoin holdings — and what that means for government accounting and forfeiture-fund mechanics.

The committee report accompanying the bill underlines Congress’s intent to track the flow of seized assets into the program. It directs the Treasury to provide monthly tables of the Forfeiture Fund’s activity, including any “diversions from the Forfeiture Fund to the Bitcoin Strategic Reserve and/or the digital asset stockpile.” That same report section labels the custody directive “Custody of Digital Assets,” emphasizing strong safeguards to prevent loss, unauthorized access, or liquidation.

The push comes six months after the White House issued Executive Order 14233, which created both the Strategic Bitcoin Reserve and the US Digital Asset Stockpile by consolidating government-owned crypto seized in criminal and civil cases. The order states that government BTC placed into the reserve “shall not be sold,” positioning Bitcoin as a strategic asset held for national objectives subject to law. It also instructs Treasury and Commerce to develop ways to acquire additional government BTC on a budget-neutral basis.

H.R. 5166 would also bring the national-security community into the loop. Section 139 directs the Treasury Secretary and the Director of the National Security Agency to provide a classified report on inter-agency coordination within 90 days of enactment — a signal that lawmakers see digital-asset custody (and key management) as an operational risk surface as well as a balance-sheet question.

The legislative pressure is occurring alongside separate efforts to codify the reserve. In March, Rep. Byron Donalds introduced H.R. 2112 to give the executive order “the force and effect of law,” while other measures, such as H.R. 2032, have proposed building out a decentralized, cold-storage reserve network for government BTC. None of those standalone bills has been enacted, but the appropriations route, if passed, would time-box the Treasury to deliver concrete answers shortly after the spending bill becomes law.

What Changes If H.R. 5166 Becomes Law?

First, the Treasury would owe the public a detailed custody blueprint, not just internal memoranda or ad-hoc practices developed for asset seizures. Second, Congress would receive an analytical roadmap for how a Strategic Bitcoin Reserve and stockpile would interact with forfeiture processes and the federal balance sheet — key inputs for any future decision to scale the program beyond seized assets.

Third, the classified NSA-Treasury report would institutionalize security coordination around wallet infrastructure and interagency transfers. Together, those steps would shift the federal government’s handling of Bitcoin from case-by-case liquidation towards a defined reserve posture aligned with the March 6 policy that reserve BTC is not to be sold.

However, the measure does not itself appropriate BTC, purchase Bitcoin on the open market, or authorize immediate diversions into the reserve; it sets reporting and planning obligations contingent on enactment of the underlying appropriations bill. The House-reported text must still clear the full House, the Senate, and reconciliation before reaching the President’s desk. Until then, the timelines — “within 90 days of enactment” — are prospective.

At press time, BTC traded at $112,700.

BTC faces the EMA50, 1-day chart | Source: BTCUSDT on TradingView.com

Featured image created with DALL.E, chart from TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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September 9, 2025 0 comments
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Coinbase Lawyer? Bill Morgan Shuts Down False Media Labeling
Crypto Trends

Coinbase Lawyer? Bill Morgan Shuts Down False Media Labeling

by admin September 7, 2025


Just a day after addressing growing speculations that the U.S. leading cryptocurrency exchange Coinbase may be manipulating XRP’s price movement, Bill Morgan now has to restate his true identity after being wrongly identified by the media.

On Sunday, Sept. 7, Bill Morgan was spotted on X issuing a fierce reaction to a trendy media post that appears to have mistakenly identified the pro-crypto lawyer as “Coinbase lawyer.”

Bill Morgan dismisses buzz on XRP manipulation

While Bill Morgan’s mislabeling as “Coinbase lawyer” might have not been intentional, the lawyer has frowned seriously at the media post, pushing strongly against the false title as he considers it a formidable insult that cannot be overlooked.

Nonetheless, it is important to note that Morgan’s mislabeling as a Coinbase lawyer came amid rising debates in the crypto community that Coinbase could have been manipulating the price of XRP, which led to the recent drawdown.

The claims had appeared convincing after reports about Coinbase reducing its XRP holdings surfaced. The unusual move saw Coinbase XRP holdings being slashed massively by about 69%, dropping from a massive 780 million XRP to 199 million XRP.

The move saw the crypto community form the narrative that the significant reduction in Coinbase’s XRP holdings was allegedly a sell-off in an attempt to intentionally push the price of XRP down.

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Bill Morgan had taken to the media space to address the speculation while disputing the XRP manipulation claims. In his statement, Bill Morgan had argued that the price of XRP was only forming its regular pattern, which it had also formed at the time when Coinbase did not engage in any market activity but only delisted the token from its trading platform.

While Morgan further acknowledged Coinbase’s unwelcoming stance on XRP, he confirmed that the reduction in Coinbase’s XRP holdings is not valid evidence that the exchange might be manipulating the price of the asset.

Following Morgan’s advocacy for Coinbase on the issue, he has been wrongly identified as a Coinbase lawyer. Nonetheless, Morgan has cleared the air on the false identification. Morgan received the Coinbase tag as an insult he is not willing to tolerate, cautioning the crypto community to stay true to his actual identity.



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September 7, 2025 0 comments
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Crypto Trends

US Senate Banking Updated Market Structure Bill

by admin September 6, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The US Senate Banking Committee has now released an updated version of the crypto market structure bill. This particular legislative bill, titled the “Responsible Financial Innovation Act 2025,” now includes new provisions centered on developers, bankruptcy, among others, which are vital to the broader crypto industry.

Updated Crypto Market Draft Reveals Protection For Blockchain Developers

US digital asset regulation took a major step forward on Friday as the amended crypto market structure bill advanced out of the House Banking Committee. The bill, which seeks to clearly define the line between digital asset securities and commodities, among other goals, now heads to the Senate for another hearing, though with some modifications.

Most notably, the Responsible Financial Innovation Act now shields blockchain developers from being treated as financial institutions under existing securities laws. Therefore, activities such as providing interfaces or creating wallets are not regulated as securities dealings. However, developers are still accountable under anti-fraud, anti-manipulation, and anti-money laundering laws, and protection does not apply if someone takes custody of users’ funds or exercises central control over a system.

The bill also creates a safe harbor for non-fungible tokens (NFTs), clarifying that unique digital tokens representing art, memberships, tickets, or collectibles are not securities just because they can be resold or may rise in value. Interestingly, secondary sales are safe too, as long as the resale doesn’t raise new capital for the original promoter. But NFTs that are mass-produced, fractionalized, or structured as financial claims remain subject to securities laws. 

Meanwhile, a change to the Bankruptcy section of the act allocates digital commodities and ancillary assets to the same categories as cash and securities in bankruptcy rules. Therefore, when a firm goes bankrupt, customer claims are not limited to cash or traditional securities but now explicitly cover crypto and related digital assets as well.

SEC & CFTC To Set Up Joint Advisory Committee On Digital Assets

In other important news, the updated Responsible Financial Innovation Act 2025 proposes a Joint Advisory Committee on Digital Assets, jointly run by the US Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC).

Unlike the earlier version of the bill that tilted oversight of crypto markets more heavily toward the SEC, this framework pushes both regulators to work together to study digital assets and provide nonbinding recommendations on rules, oversight, and regulatory harmonization.

The body will include up to 14 non-government members from across the industry, academia, and user base, alongside input from the National Institute of Science and Technology in a non-voting role.  Meanwhile, the total crypto market cap is now valued at $3.76 trillion 

Total crypto market cap valued at $3.76 trillion on the daily chart | Source: TOTAL chart on Tradingview.com

Featured image from Britannica, chart from Tradingview

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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September 6, 2025 0 comments
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Chaotic recruiting and ‘harsh’ decisions: Bill Belichick’s first nine months at UNC

by admin September 2, 2025


  • David Hale

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    David Hale

    ESPN Staff Writer

    • College football reporter.
    • Joined ESPN in 2012.
    • Graduate of the University of Delaware.
  • Andrea Adelson

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    Andrea Adelson

    ESPN Senior Writer

    • ACC reporter.
    • Joined ESPN.com in 2010.
    • Graduate of the University of Florida.

Aug 31, 2025, 07:00 PM ET

CHAPEL HILL, N.C. — Just minutes before taking the stage at the ACC’s annual kickoff event at the Hilton Charlotte Uptown, Bill Belichick scrolled through his phone, reviewing his notes at a table in a dark service corridor as hotel employees stacked plates and glasses around. He had been shuffled through back hallways by conference and school staffers hoping to avoid the majority of the more than 800 media members gathered in an adjacent ballroom, all eager to photograph, question or simply glimpse college football’s biggest celebrity, but the spotlight awaited.

This is the new normal for North Carolina.

“It’s a little like the Deion [Sanders] thing at Colorado,” ACC commissioner Jim Phillips said. “He grabs your attention. It’s made for television.”

The ballroom where Belichick addressed topics as banal as the modern use of the fullback remained packed for his session, the ACC having distributed nearly 40% more credentials than a year earlier. In a breakout room intended for a more informal Q&A, more than 200 reporters elbowed through the crowd to pose a question. Belichick spoke for more than 20 minutes, even cracking a few jokes.

One reporter asked what it was like sitting in living rooms with recruits during the spring.

“I haven’t done that,” Belichick quipped. “That would be a recruiting violation right now.”

For anyone who had lived through Belichick’s chaotic early days of recruiting and roster building, it might have felt like an inside joke. The start to this new era in Chapel Hill was marked by missteps, confusion, broken promises and “harsh” and “businesslike” decisions to nudge players out the door, all while a skeleton staff bereft of college experience struggled to keep up.

“It was very stressful,” said a former member of the staff. “Everyone was running around like chickens with their heads cut off.”

It was a far cry from Belichick’s presentation at ACC media days this summer, where he appeared at ease in his new world — still far from his promise to bring a national championship to Chapel Hill but more aware of the pitfalls he’d face along the way.

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When Belichick met with North Carolina’s team for the first time in December 2024, he delivered a mission statement for a program that has developed a reputation as a perennial underachiever. It was now being led by a man who had won 302 NFL games and six Super Bowls as a head coach. Things were about to change dramatically.

“We’re going to grind every single day,” he told the team, according to veteran quarterback Max Johnson. “It’s a process from January until the season starts.”

That process reaches its apex Monday night when UNC hosts TCU (8 p.m. on ESPN) in Belichick’s first game as a college head coach. It has been, according to more than two dozen sources including former assistants, current and former staffers, high school coaches, players, recruits and members of school administration who spoke with ESPN, at times enlightening and exhilarating, chaotic and tumultuous.

Belichick and his staff have had to adjust on the fly to the intricacies of NCAA recruiting rules, rebuild a roster and dodge scrutiny about the 73-year-old coach and his 24-year-old girlfriend. The promise Belichick didn’t offer to his team that first day, but the one that seems most likely to hold true, is that no part of this era would be boring.

“There’s things that we’re going to deal with that other schools aren’t,” Belichick said in his usual subdued tone. “That’s the way it goes.”

All eyes have been on North Carolina ever since Bill Belichick was hired in December. Matt Kelley/Getty Images

IF BELICHICK’S NFL résumé was a selling point to UNC fans, his status as a college newcomer quickly became uncomfortably apparent to numerous high school coaches, recruits and staffers who spoke to ESPN. They described the December and January recruiting push as a frenetic and disjointed process in which few people seemed to have a clear vision for the program’s direction.

In a quest to “go lean,” Belichick quickly cut ties with much of the previous staff — from assistant coaches to entry-level personnel who handled the basic operations of recruiting. When he was in the office, Belichick spent most of his time behind closed doors in a staff room with Tar Heels GM Mike Lombardi and newly hired personnel staffers Joe Anile and Andrew Blaylock, with one source involved in the process saying the Heels initially couldn’t do “traditional” visits because there were so few people for players to meet with. Another source at UNC said the decision to move on from the prior staff was understandable, but “you still need someone who knows how to book a flight or a hotel.” Multiple sources confirmed Belichick ultimately relented — at least temporarily — rehiring some analysts just to fill the void.

“A couple times they brought in good players and ignored them on their visit,” a source with direct knowledge of the situation said. “There were times that the kids would be waiting 30, 45 minutes or an hour and then all of a sudden, you’re not meeting with Coach Belichick anymore, and we’ll go back to the airport.”

Belichick and his top lieutenants were often flying blind when it came to NCAA rules and regulations, operating by a Silicon Valley-style “move fast and break things” approach, while public records obtained by ESPN show numerous reminders from compliance staff about recruiting quiet periods and NIL restrictions, along with a protracted debate about the boundaries of where coaches could meet with recruits on official visits.

“That’s probably the biggest thing they’ve had to learn, with what you can and can’t do,” another source who has worked with the program said. “They found out fast how many rules we’ve been dealing with over the past couple of years.”

Those initial months were a barrage of hasty evaluations and high-pressure sales pitches.

One recruit, who ultimately didn’t sign with UNC, recalled meeting Belichick for just a few minutes before being handed a contract and asked to sign.

“I kind of felt it was disrespectful to just put me in that situation after just meeting a coach,” the recruit said. “It was just crazy that you’d make a player sign a contract in front of a coach right after you just met him, and you haven’t even talked about numbers yet or anything about what I would get at that school.”

In-state recruit Jariel Cobb was planning a visit to an SEC school when he got a call from UNC, saying Belichick wanted to send a car to pick him up if he could visit campus immediately. When Cobb arrived in Chapel Hill with his mother, they were given the red-carpet treatment, with an array of people in UNC gear shaking hands and lauding the recruit’s skill set. Belichick met with Cobb, who had always dreamed of playing for his home-state Tar Heels but didn’t receive an offer from the prior staff. Belichick delivered a stern analysis: “I don’t know why in the hell they hadn’t offered you, but I looked at the film. I want you.”

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“They treated us like celebrities,” Terri Cobb, Jariel’s mother, said. “Other schools had told him to think on it, but right out of the gate, Bill stood up and said, ‘You rocking and rolling with me or what?'”

Cobb signed, enrolled early and went through spring ball with the Tar Heels, calling it a positive experience, but his mother had noted that, during his initial conversations with Belichick, the coach had repeatedly mentioned two other players from Cobb’s high school he hoped would also come to UNC. In retrospect, she wonders if the Tar Heels’ interest in her son was aimed at getting an inside line to other players.

“They were flying through visitors,” the former member of the staff said. “It was unclear if Coach Belichick had evaluated the tape with how quickly they were bringing kids in.”

By the spring, with a full staff and enough time to better evaluate talent, North Carolina went into its second roster rebuild of the offseason. Overall, 39 players transferred out after Belichick’s arrival, including nearly two dozen after spring workouts. Cobb was among them. After just four months at his dream school, he was told he was unlikely to play and encouraged to transfer. It was, according to his mother, a similar story for many of his teammates. Cobb is now at Charlotte, which will play the Tar Heels in Week 2.

Meanwhile, UNC heavily recruited transfers during the spring portal window, which, according to numerous coaches across multiple Power 4 conferences, was described as the most bereft of talent since the portal era began in 2021. The Tar Heels added 23 players.

“There’s a little guesstimate there,” Belichick said. “You do the best you can to figure it out, but it’s a very inexact science.”

To find worthy additions in April and May, North Carolina was aggressive in identifying potential transfers. Five coaches told ESPN that they had been frustrated with North Carolina’s brazen efforts, led by Lombardi, to contact players directly prior to those players entering the portal, with at least one coach contacting Belichick to complain. Though tampering has become commonplace in college football, it’s often done through back-channels — current players talking to friends or former teammates, for example. North Carolina was “blatant” and “brazen,” according to one Power 4 coach. One player who spoke to ESPN said that he had been contacted by UNC in an effort to convince him to transfer, and he was warned not to inform anyone of the communication. If he did, he was told, he could lose his eligibility.

“I don’t think they’re doing anything that hasn’t been done [elsewhere],” one source said, “but I do think it’s such a drastic culture change from [former coach] Mack [Brown], so that it looks completely different to the people at UNC.”

While the style is different, so are the results. UNC already has nine blue-chip commitments for 2026 as Belichick has grown more comfortable with the recruiting process and focused on a national approach to talent acquisition.

“We’re in there with some good schools,” Belichick said, “and it’s good to be able to get kids coming to Carolina over some of the top schools in the country.”

After the rocky start, Belichick has used additional resources promised as part of his hiring to nearly double the recruiting support staff from what existed under Brown, yet it’s often Belichick who’s the linchpin to selling a player.

Belichick’s first time on the road recruiting was traveling to Rolesville High outside Raleigh, North Carolina, to visit brothers Zavion and Jayden Griffin-Haynes. Zavion had been committed to North Carolina under Brown, but decommitted after the coaching change. Jayden never received an offer under the previous staff.

Belichick stayed for nearly two hours, according to Zavion, and he broke down tape with the brothers, a key part of the coach’s sales pitch with high-level recruits.

“They stayed on me,” Zavion said. “They came to see me practice during spring ball. They made sure it was love from UNC and that really stood out to me. He wants me to be the face of the program, but he also said I have to work for it. He’s not just going to hand it to me, but I’m the guy he’s looking for in the program.”

Both brothers committed in June.

Weddington (N.C.) coach Andy Capone remembers Belichick visiting campus this spring to meet with recruit Thomas Davis Jr., and he was awestruck.

“I’ve been fortunate enough to meet a lot of head coaches,” Capone said, “but I’ve only taken a picture with two of them: Nick Saban and Bill Belichick.”

What truly impressed Capone was Belichick’s pitch once the fanfare died down. Belichick described a detailed plan for UNC, spent time with three recruits, including Davis, and, from memory, recited plays he had watched on film from their games, relating each to plays run by some of the greats from Belichick’s past.

“He’d say, ‘This is how I used Lawrence Taylor or Mike Vrabel,'” Capone said. “It was really cool to let them see a perspective of how he sees players in his system.”

Capone said Belichick was honest with his recruits, and he pitched them on his long history of preparing players for the NFL.

Before Belichick departed, Davis, who ultimately committed to Notre Dame, asked the question that has been at the forefront of so many debates since the NFL legend arrived at Carolina. Was Belichick really planning to stay long in Chapel Hill?

“I wouldn’t have taken this job to go back to the NFL,” Belichick told him. “We’re going to win national championships here.”

Sources told ESPN that much of the drama surrounding Jordon Hudson was overblown. Jim Dedmon-Imagn Images

VINAY PATEL WAS never a Belichick fan. The UNC board of trustees member applauded the hire for the Tar Heels, but he had seen enough of Belichick in the pros to assume he wouldn’t like the guy.

Still, Patel was curious, so he attended a welcome banquet held on campus this winter, hosted by Belichick and his girlfriend, Jordon Hudson.

To his surprise, the event was friendly.

“I expected some pompous SOB, and he definitely wasn’t that,” Patel said. “And she’s not standoffish at all. We chatted, shook hands. She’s polite.”

A few months later, amid a media firestorm surrounding Belichick’s relationship with Hudson, who is nearly 50 years his junior, and her role in managing his personal brand, Patel remembers being perplexed by the seemingly ubiquitous outrage.

“I had a friend saying, ‘Can you believe this Jordon Hudson?’ — this and that,” Patel said. “And I’m just thinking, yes, but if you’d told me a year ago that UNC football was going to be a news story on a daily basis, I’d have thought you were nuts.”

If Patel favored an “all publicity is good publicity” approach, many members of the often staid and conservative UNC community saw it differently. In December, Belichick emailed UNC staff, insisting Hudson be copied on all communications. Hudson proceeded to inject her opinion on how the school’s PR staff operated, sometimes frustrating longtime employees. In one instance, she insisted Steve Belichick never be referred to as Bill’s son, and in a February email, asked to have public comments on UNC football social media sites censored, including one she said described her as “a predator.” UNC public relations replied that it “hid/erased one comment that had been posted about your personal life,” but did not find additional critical comments on UNC football’s Facebook page, according to documents obtained by ESPN in a public records request.

Bill Belichick was frustrated that the emails were shared, according to multiple sources, despite warnings from UNC staff that, as a public university, the athletics department was subject to open records requests.

“He didn’t like it at all, but he’s never worked at a public school,” a UNC source said. “[Hudson] would probably be more involved if we weren’t a public school.”

By the spring, Hudson’s involvement became routine public fodder. At UNC’s final spring practice, Hudson roiled the school’s old guard not only for being on the field, but for the way she was dressed. More attention followed, from a controversial appearance on “CBS Sunday Morning” to reports that Hudson had been banned from UNC’s football facility to suggestions in a New York Times story that a planned season of HBO’s “Hard Knocks” featuring North Carolina was scuttled due to her involvement.

Sources familiar with the negotiations told ESPN that the decision to nix the project was ultimately Belichick’s, saying he felt the timing of the HBO show, which would film only during fall camp, wouldn’t showcase the team’s strengths. The school instead pivoted to another project that will air on Hulu and cover North Carolina’s entire season.

Amid the spring’s media frenzy, the school was flooded with complaints from fans, donors and even professors, calling Belichick’s relationship “shameless,” “a disgrace” and “a laughing stock,” with one alum writing, “We’ve always prided ourselves on being a class act, but this is the kind of unnecessary distraction that does more harm than good. If Bill walks, he walks.”

UNC brass, including chancellor Lee Roberts and athletic director Bubba Cunningham, declined to comment on “the private lives of any of our employees,” as Roberts explained, and inside the locker room, few players seemed bothered.

Numerous sources who spoke to ESPN suggested much of the Hudson drama was overblown. One UNC administrator said that Hudson’s initial involvement was simply to “fill a void” until new PR staff could be hired and said Hudson hasn’t been a part of football-related correspondence since early in the spring.

A “talking points” email distributed to PR personnel and Belichick ahead of the ACC’s spring meetings in May detailed Hudson’s role, noting “once staff was in place, after about a month, she was no longer copied on emails. She is not involved in the hiring of staff, recruiting of players, communications related to the program or the building of the program” but “continues to be involved from a scheduling perspective.” The memo also noted that “Jordon is playing an active role in the filming and production of a documentary about Coach Belichick’s first season of college football, so in that capacity, she may be seen on the sidelines of Carolina Football practices or games.”

Multiple sources who spoke to ESPN doubted Belichick had been aware of the outsized attention she generated online — “He’s always watching film, not scrolling through her Instagram” — and believed that after the CBS interview, he took steps to limit her exposure in relation to the football program.

“It’s almost like you’re shielded from it,” one source with knowledge of the program said. “You’re finding all this stuff on TMZ and different sites, but nobody really talked about it around the building. It was more of a big deal nationally than it was here.”

North Carolina has beefed up security since Belichick’s hire. AP Photo/Chris Seward, File

A SMALL ARMY of reporters shuffled aimlessly outside a padlocked gate that, in a few moments, would provide a brief glimpse of North Carolina’s fall camp on a weekday in mid-August. Access to outsiders has been severely restricted, and a pair of onlookers standing at a fourth-floor window in a nearby building had likely already gleaned more information about this Tar Heels team than the local media had all summer.

In the Belichick era, there are insiders and there are outsiders.

North Carolina has beefed up security. When one local reporter used binoculars to glimpse Hudson and other visitors at a UNC practice through a narrow window of the indoor practice facility, a guard immediately interrupted. The football building inside Kenan Stadium has been off limits to all nonessential football personnel, and the school installed facial recognition sensors to enter the facility. No UNC player was permitted to speak to the media for the first six months of Belichick’s tenure, and Belichick is also skipping a weekly radio show, typically a staple for college coaches, ceding the stage to Lombardi.

Belichick’s staff is filled with trusted confidants. Lombardi had been an advisor with the New England Patriots and even co-hosted Belichick’s podcast. Lombardi’s son, Matt, is UNC’s quarterbacks coach. Two of Belichick’s sons — Steve and Brian — coach on defense. One of his former players, Jamie Collins, is the inside linebackers coach. Several sources suggest senior staff members monitor outgoing communications from other staffers to curtail leaks about the inner workings of the program.

On the inside, however, the view of Belichick has been far different than the public persona he has projected for decades.

“They’ve been really easy and good to work with,” said Cunningham, who had initially been skeptical of the hire. “It’s a different model. They wanted to bring in their own coaches and personnel and recruiting people, people they’ve worked with previously. It’s a very personable staff.”

𝐌𝐢𝐜’𝐝 𝐔𝐩 🎙️🎙️🎙️@Belichick_B pic.twitter.com/cf2axVs1D6

— Carolina Football (@UNCFootball) August 15, 2025

This winter, Belichick had pizza delivered to UNC fraternities and sororities ahead of the Heels’ men’s basketball game against Duke. He did the same for several of UNC’s winter and spring sports teams.

Belichick is a longtime lacrosse fan, and as he surveyed the football practice field during the spring — the same field where the lacrosse teams practice — he posed a question: Where are the lacrosse lines? Belichick was told that, if the football team practices that morning, the lacrosse field wouldn’t get painted.

“He said, ‘Paint the lines,’ and we got them,” UNC’s women’s lacrosse coach Jenny Levy said. “I think he’s diving into what college athletics is all about.”

Former UNC linebacker Jeff Schoettmer attended the school’s “Practice Like a Pro” day to conclude spring practice, and he watched Belichick mingle with recruits, transfers and their parents. At a banquet afterward, the coach met with former players and donors.

“It’s pretty incredible to see how easily he moves among different types of people,” Schoettmer said. “Him holding court with former players — it’s just like you see some of these extroverted coaches who’ll talk to anybody, but you don’t expect Bill to sit there and tell war stories with guys he’s never coached. But that’s how much love I think he has for North Carolina.”

Inside the football facility, Belichick thought Brown’s former office on the fourth floor of the football building was isolating, so he set up his own office on the second floor to be in the same space occupied by the players.

“I can’t coach the players if I’m not around them,” Belichick told ESPN. “I try to go in and out of meetings and be visible and present.”

Cunningham said he has been struck by how accessible Belichick is to the team, routinely sitting in film study sessions and breaking down plays.

In June, Belichick met with his quarterbacks each day for about an hour, a process that began during his tenure with the Patriots because, he said, “It’s important for the coach and the quarterback to be on the same page.”

Johnson, one of the few holdovers from Brown’s 2024 team, said the involvement of the coach in the small details of the game is unlike anything he had seen.

“We did something different every day,” Johnson said. “Everything is really detailed, and that’s what I’ve loved.”

If Belichick’s tenure has been marked by a steadfast devotion to those in his orbit at the expense of those on the outside, it has done little to temper enthusiasm around the program.

Donations are up, season tickets are sold out, and UNC has added new premium-seating options that will further expand its revenue opportunities. Rick Barakat, the athletics department’s new chief revenue officer, said UNC will exceed its all-time gross revenue record this year.

“The pitch has changed because the excitement’s never been higher,” Barakat said. “We’ve had bouts of success historically, but I don’t think we’ve ever seen Carolina football at the level it is right now in the national news cycle, and that trickles down into every conversation.”

Even entities in Belichick’s orbit seemed to bask in the glow of newfound attention. Phillips raved that Belichick “is great for the ACC and great for North Carolina.” One executive for the Charlotte 49ers referred to a sizable uptick in season ticket sales as “The Belichick Bump,” and AD Mike Hill was tasked with finding more seating capacity for the Week 2 game by bringing in “bleachers everywhere.” Charlotte’s initial advertising for the game focused on Belichick, a decision critiqued by the school’s chancellor, according to public records obtained by ESPN, for ignoring its own new coach, Tim Albin.

Many of North Carolina’s administrators who spoke to ESPN said the investment would be judged on wins and losses, but it’s also possible the spotlight could be a springboard to something else.

“You’re seeing a lot more people involved as far as helping out the program,” one of those sources said. “You can feel that UNC is embracing more on the football end. It’s been the talk of the last two years, but the push to get to the SEC, I think, was a major reason for this show of investment in football.”

Belichick has drawn a lot of attention. AP Photo/Aaron Beard

UPON HIS HIRE, Belichick immediately pushed a new tagline for Tar Heels football. They would be “the 33rd NFL team,” and those early days included an influx of professional know-how, from Lombardi to former Patriots nutritionist Josh Grimes and Moses Cabrera, Belichick’s longtime strength and conditioning guru.

“Coach B comes in with a different mindset in terms of everything’s going to be at the highest level possible, no matter what he has to do to get there,” wide receiver Jordan Shipp said.

Belichick has delivered that message repeatedly, both inside the locker room and to the media, often saying players who “don’t want to work, they don’t want to be good. That’s OK, but if you’re like that, Carolina’s a bad place to be. It’s too important to the rest of us.”

Belichick retained Freddie Kitchens as the lone full-time position coach from the previous staff, in large part because of his NFL background. Kitchens spent 16 years in the NFL before moving on to college, including a stint as the Cleveland Browns head coach. Belichick has said all of the systems they are implementing — from offense to defense to special teams — are NFL-based.

“Fundamentals and techniques that go with them are based on that too, practice, structure, meeting, installation, teaching. There were some modifications we had to make, but basically it’s all the same,” Belichick said.

Belichick has gotten more used to recruiting as well. Those who interacted with him on the recruiting trail in January noticed a big difference in their exchanges six months later, describing him as “more personable.”

“He understands that he had to change his way of doing things, and he’s doing that, and he’s really adapting to this new culture,” said Rolesville (N.C.) coach Ranier Rackley, who has three players committed to UNC. “So that’s why he’s getting a lot of these guys because of that.”

Collins, who played for Belichick for parts of seven seasons during a 10-year NFL career, said he has seen a softening of the coach who, in the pros, was known for his all-business approach to relationships.

“The old Bill comes out, but we live in a different world now,” Collins said. “I’ve seen a different side of Bill coaching these guys.”

In June, Rackley brought a group of players to UNC’s 7-on-7 camp, and he took note of Belichick moving from one group to the next, watching as many teams and players as possible. There was a different energy to the experience, he said.

In all, nearly 4,000 kids showed up during UNC football camps that month. For Belichick, who has often downplayed the leap from the NFL to college, it was an eye-opening moment.

“Once you actually see it, it feels like Normandy,” Belichick told ESPN. “It’s like, ‘Here they come.'”

North Carolina hasn’t won an ACC title since 1980, but with Belichick on the sideline, there’s no lack of optimism in Chapel Hill.

“We’re here to win football games,” Shipp said. “He let us know that yeah, we’re going to have a spotlight. But that’s not what we’re worried about. We’re worried about winning games.”

For UNC, though, there’s more to the story. Belichick is a bona fide winner, but he’s also a show — occasionally controversial, often recalcitrant, sometimes funny — and for a program looking for attention, he has delivered.

“We want to be competitive in football,” Roberts said. “We want to be part of the national conversation. Carolina stands for excellence across the board, and we want to be excellent in football. I think we’re well on our way.”

What comes after that remains a mystery — one Belichick has fiercely protected throughout a long offseason. Now, the veil is lifted.

The new era of North Carolina football is here.

Michael Rothstein and Eli Lederman contributed to this story.





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September 2, 2025 0 comments
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Kill Bill 4K Blu-Ray Editions Get Limited-Time Price Cuts At Amazon
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Kill Bill 4K Blu-Ray Editions Get Limited-Time Price Cuts At Amazon

by admin August 31, 2025



Amazon has limited-time deals on the 4K Blu-ray editions of Kill Bill Vol. 1 and Kill Bill Vol. 2. The acclaimed Quentin Tarantino saga starring Uma Thurman finally made its way to 4K Blu-ray earlier this year alongside Jackie Brown. All three movies come with 4K UHD, Blu-ray, and Digital editions as well as making-of documentaries and a bunch of other special features.

Amazon also has several other Tarantino movies on 4K Blu-ray for cheap, including Pulp Fiction, Once Upon a Time In Hollywood, Reservoir Dogs, and Inglourious Basterds. Arrow Video’s recently released 4K edition of Inglourious Basterds is also available for a nice discount, and Amazon still has copies of its exclusive Pulp Fiction: 30th Anniversary Collector’s Edition.

Quentin Tarantino Movies on 4K Blu-ray

You can learn more about the 4K Blu-ray editions of the Kill Bill saga and Jackie Brown below. We’ve also included a list at the bottom detailing Tarantino’s complete filmography, as not all of the director’s movies have received 4K releases.

$25.43 (was $43)

Jackie Brown was Tarantino’s third film, following Reservoir Dogs and Pulp Fiction. The 1997 feature remains the director’s only adaptation of another writer’s work in his 10-film career. Jackie Brown was adapted from the classic crime novel Rum Punch by legendary author Elmore Leonard.

The 4K Blu-ray release includes a 10-part documentary series, several new featurettes, deleted and alternate scenes, promotional materials, a poster gallery, and an enhanced trivia track.

Jackie Brown stars Pam Grier as a flight attendant who regularly smuggles money from Mexico into the United States for a gun runner in Los Angeles. In addition to Grier, the movie also starred Samuel L. Jackson, Michael Keaton, Robert De Niro, Robert Foster, and Bridget Fonda. Like his first two films, Jackie Brown was well-received by critics.

$25.49 (was $43) | Limited-Time Deal

Tarantino’s next film wouldn’t hit theaters for another six years, but it was certainly worth the wait. A revenge thriller starring Uma Thurman, 2003’s Kill Bill is a highlight reel of what makes Tarantino’s films special. It’s a character-driven tale full of over-the-top violence and backed by a cool soundtrack. On a technical level, it saw the director up his game with several scenes that pushed the envelop for action at the time.

Extra content for the 4K release includes a documentary titled The Making of Kill Bill Vol. 1, musical performances by the band The 5.6.7.8’s, and plenty of trailers, including the infamous “bootleg” teaser.

$22.49 (was $43) | Limited-Time Deal

Anyone who enjoyed the first Kill Bill movie didn’t have to wait too long for the sequel, as Kill Bill Vol. 2 arrived a year later in 2004. It remains the only sequel in Tarantino’s filmography. Like with Vol. 1, the sequel’s 4K release includes a documentary titled The Making of Kill Bill Vol. 2 as well as the “Damoe” deleted scene, and a musical performance by Chingon.

Both films were designed to be an homage to low-budget cinema, but compared to the first movie, the Kill Bill sequel was surprisingly more restrained with its action. When it did decide to turn up the dial on cinematic violence, each action scene felt unique and shocking, exploding out of lengthy narrative sections in the movie.

7 of Tarantino’s 10 films are now be available on 4K Blu-ray

If you’d like to complete your collection of Tarantino movies, you can also grab the rest of his work on Blu-ray. Several of these films haven’t made it to 4K Blu-ray yet, but most of his greatest hits like Pulp Fiction, Once Upon a Time In Hollywood, Reservoir Dogs, and Inglourious Basterds are available in 4K. Amazon has all four of those priced for $20 or less.

Earlier this year, Arrow Video released a new 4K Blu-ray edition of Inglourious Basterds with new special features, including interviews and additional featurettes. It also has new box art and a reversible sleeve. It’s available for $25 (was $50) at Amazon–but this is roughly twice the price of the original 4K release from 2021.

Big fans of Pulp Fiction should check out the Amazon-exclusive 30th Anniversary Collector’s Edition for $60. It comes with a hardcover slipcase, pop-up art card, lobby card reproductions, and several other collectibles.

We’ve listed Tarantino’s films in chronological order by release year.

If you’re a big Tarantino fan and are up for some reading, his novelization of Once Upon a Time in Hollywood is awesome. Amazon has the hardcover Deluxe Edition for $23.44 (was $30). There’s also a paperback edition for $10.69 (was $19).



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August 31, 2025 0 comments
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Philippines reviewing bill to create Strategic Bitcoin Reserve with 10,000 BTC
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Philippines reviewing bill to create Strategic Bitcoin Reserve with 10,000 BTC

by admin August 25, 2025



Lawmakers in the Philippines are reviewing a proposed bill, which, if passed, would allow the country’s central bank to hold up to 10,000 BTC as part of a strategic Bitcoin reserve.

Summary

  • House Bill 421 directs the Philippine central bank to accumulate Bitcoin for 5 years.
  • If passed, the Philippines would become the first Southeast Asian country to legislate such a reserve.

House Bill 421 has been aptly named the Strategic Bitcoin Reserve Act and was presented to the House of Representatives by Congressman Miguel Luis Villafuerte. In his bill, the congressman touted Bitcoin as a “strategic asset” that could help the Philippines secure its financial future.

Villafuerte’s proposal calls for a sovereign Bitcoin reserve, one that, unlike the holdings of many other nations, would not arise from seizures or forfeitures but through periodic accumulation.

Under the proposal, the Philippine central bank would buy 2,000 Bitcoin a year for five years, allowing it to accumulate up to 10,000 Bitcoin, which would then be held in cold storage under strict oversight.

Once secured, the reserve must remain untouched for 20 years, with a few exceptions tied to national debt obligations. The bill places clear legal constraints on the central bank, prohibiting any sale, swap, or disposal of the assets during the lock-up period unless the country needs to pay off sovereign debt.

The bill also introduces a broader framework around transparency and accountability. It calls for the implementation of a proof-of-reserves system, which would require the BSP governor to issue quarterly public reports detailing the reserve’s Bitcoin holdings, wallet addresses, and control over private keys.

If passed, this level of reporting would place the Philippines at the forefront of sovereign digital asset management, offering a degree of visibility rarely seen in government-held crypto reserves.

The legislation even imposes post-lockup guardrails. After the 20-year period, any liquidation of the Bitcoin reserve would still be capped; no more than 10% may be sold or used within any two-year window.

Early mover advantage

Should this bill move forward, the Philippines would become the first Southeast Asian nation to legislate the creation of a sovereign Bitcoin reserve through formal statute. That distinction alone could boost the country’s profile in global crypto circles.

“Bitcoin gives emerging markets like the Philippines the opportunity to go around western financial capital and safeguard themselves from depreciating fiat currencies,” Kadan Stadelmann, Chief Technology Officer, Komodo Platform, told crypto.news.

“The Philippines has entered the Bitcoin arms race, and the bill validates Bitcoin as digital gold. Nonetheless, the Philippines has not made any law legalizing Bitcoin, which might not bode well for the bill’s passing,” he added.

Nonetheless, Stadlemann believes the Philippines could benefit from having a Bitcoin reserve due to Bitcoin’s potential for appreciation, and the fact that “it also can help financial inclusion in a nation where many are unbanked.”

Nations like El Salvador have made headlines for adopting Bitcoin as legal tender, in contrast, the Philippine initiative is arguably more conservative and structurally grounded, focused on long-term accumulation and fiscal insulation rather than retail-level integration.

With 10,000 Bitcoin, the Philippines would surpass El Salvador’s current reserve, which stands at around 6,276 BTC, and close in on Bhutan’s reported holdings of over 10,500 BTC.

The proposal arrives at a time when the Philippines is tightening its grip on crypto regulation. As previously covered by crypto.news, earlier this month, the Securities and Exchange Commission warned ten major crypto exchanges, including OKX, Bybit, and KuCoin, for operating without proper registration under the newly enacted Crypto Asset Service Provider rules.



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August 25, 2025 0 comments
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US House Slips CBDC Ban Into Defence Spending Bill

by admin August 24, 2025



In brief

  • House Republicans have attached anti-CBDC measures to an upcoming Defense Bill.
  • The U.S. remains the only major economy to halt retail CBDC development.
  • Stablecoins have gained traction in the U.S. as lawmakers cite fears over the privacy and control of CBDCs.

House Republicans have added a provision banning central bank digital currencies (CBDCs) into a 1,300 page bill which lays out defense spending and priorities for the next financial year.

The amendment, included in bill H.R. 3838, would prohibit the Federal Reserve from testing, developing or implementing a CBDC under any label.

It adds an exception for “any dollar-denominated currency that is open, permissionless, and private, and fully preserves the privacy protections of United States coins and physical currency.”

“Attaching our Anti-CBDC Surveillance State Act to the NDAA will ensure unelected bureaucrats are NEVER allowed to trade Americans’ financial privacy for a CCP-style surveillance tool,” GOP Majority Whip Tom Emmer said last month, referring to the bill.

Attaching our Anti-CBDC Surveillance State Act to the NDAA will ensure unelected bureaucrats are NEVER allowed to trade Americans’ financial privacy for a CCP-style surveillance tool. @POTUS has made it clear: our legislation is a key piece of our America First agenda, and we…

— Tom Emmer (@GOPMajorityWhip) July 17, 2025

The charge to stop CBDCs in the U.S. is a largely Republican-led effort. Emmer himself attempted to introduce a CBDC Anti-Surveillance State Act in 2023 but it failed to gain momentum. It was reintroduced upon Trump coming to office and is currently making its way through the Senate.

CBDCs around the world

Globally, however, CBDCs are advancing rapidly. According to the Atlantic Council, 137 countries are exploring digital versions of their currencies, up from just 35 in 2020, and with 72 already in advanced stages of development. The U.S. remains an outlier after President Trump’s executive order earlier this year to halt all retail CBDC work.

The opposition to CBDCs in the U.S. reflects competing visions of the future of money. Critics of CBDCs fear government overreach, surveillance and disruption to the banking sector.



The American Bankers Association (ABA), which backed the House measure in July, argued that a CBDC “would fundamentally change the relationship between citizens and the Federal Reserve, undermine the important role banks play in extending credit, exacerbate economic and liquidity crises, and impede the transmission of sound monetary policy.”

Nanak Nihal Khalsa, Co-Founder of human.tech by Holonym, told Decrypt that he hoped the senate bill against CBDCs passed because he feared “sleepwalking into surveillance money.”

“The fears are definitely justified,” he said, calling CBDCs “programmable money controlled by the state.” He added that, “Once every transaction runs through a state ledger, privacy is gone by default and the question isn’t if it gets abused, it’s when.”

“If the US takes a stand against CBDCs, it opens up space to build alternatives that are open, permissionless, and actually preserve privacy, the things that made digital money worth caring about in the first place,” Khalsa said.

Khalsa added that stablecoins issued by private companies also carried some of the same risks. “Private companies have the same incentives to track, exclude, and monetize,” he said. “The only difference is who you’re forced to trust, the state or a corporation. Without privacy guarantees built into the protocol itself, you’re choosing which empire you want to live under.”

Europe-based financial non-profit Finance Watch told Decrypt it believed concerns about surveillance are about “design, not about the concept of a CBDC itself.”

“It is entirely possible to create a CBDC that is open, permissionless, and preserves the same privacy protections as cash,” a spokesperson said. “That requires privacy by design and by default, strict limits on data collection, and offline functionality for small payments.”

“The real question is whether money should be run by private companies or issued by the central bank, as with cash,” they added, arguing that the digital Euro being developed in the EU is being designed as “a public alternative to established, privately controlled means of payment, reasserting citizens’ control of money and payments.”

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August 24, 2025 0 comments
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Philippines Congressman Pushes Strategic Bitcoin Reserve Bill With 10,000 BTC Goal
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Philippines Congressman Pushes Strategic Bitcoin Reserve Bill With 10,000 BTC Goal

by admin August 22, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Filipino lawmaker Representative Migz Villafuerte has introduced House Bill 421, which seeks to establish a strategic Bitcoin (BTC) reserve for the Philippines. The bill tasks the Bangko Sentral ng Pilipinas (BSP) with acquiring 10,000 BTC over the next five years.

Philippines Politician Floats Strategic Bitcoin Reserve Bill

Under the proposal, the BSP would be responsible for building a national Bitcoin reserve aimed at strengthening financial security by diversifying the country’s monetary assets. Bitcoin’s performance over the past year has reinforced its reputation as a store of value, with the digital asset hitting an all-time high of more than $124,000 before retreating slightly.

House Bill 421 recommends that the BSP purchase 2,000 BTC annually, targeting a total of 10,000 BTC within five years. These holdings would be locked in for a minimum of 20 years to provide long-term debt stability. Villafuerte explained:

It is vital for the Philippines to stockpile strategic assets such as BTC to serve important national interest such as providing financial stability, among others.

During the 20-year holding period, none of the BTC in the reserve may be sold, swapped, or auctioned except to reduce government debt. One year before the term expires, the BSP governor must provide recommendations on whether to keep the reserve or allow gradual sales.

After the minimum holding period, the reserve may be reduced. However, sales will remain capped at no more than 10% of total holdings every two years.

The bill calls for oversight by the Monetary Board (MB) to ensure transparency. It also requires the BSP to include updates on the Bitcoin reserve in its quarterly reports.

Strategic BTC Reserve Trend Picks Momentum 

In his speech, Villafuerte cited examples of other countries exploring options of establishing a strategic Bitcoin reserve. For instance, the US government is actively working on developing its BTC reserve, following Donald Trump’s victory in the November 2024 presidential election.

Following in the US’ footsteps, multiple countries have expressed willingness to create their own sovereign BTC reserves. Earlier this year, several Chilean lawmakers proposed the creation of a strategic Bitcoin reserve for the South American country.

Source: World Population Review

In the same vein, Pakistan’s Minister for Crypto and Blockchain announced in June the creation of the country’s first strategic BTC reserve. Another South Asian country, Bhutan, has already stockpiled huge quantities of Bitcoin.

Similarly, Brazil’s chief-of-staff to the Vice President said earlier this year that the country can no longer afford to ignore the rising global adoption of the Bitcoin protocol as a reliable monetary network. At press time, BTC trades at $112,420, down 0.7% in the past 24 hours.

Bitcoin trades at $112,420 on the daily chart | Source: BTCUSDT on TradingView.com

Featured image from Unsplash.com, charts from World Population Review and TradingView.com

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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August 22, 2025 0 comments
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Senator Tim Scott courts Democrats for crypto bill as Warren rallies opposition
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Senator Tim Scott courts Democrats for crypto bill as Warren rallies opposition

by admin August 19, 2025



By putting a number on his expected Democratic support, Senator Scott appears to be applying pressure and cracking a public whip count that might force hesitant senators to declare their position, turning a policy debate into a political test of loyalty and vision.

Summary

  • Senator Tim Scott predicts 12 to 18 Democrats may back the CLARITY Act in September.
  • The bill seeks to establish U.S. crypto market structure and regulatory clarity.
  • Scott identifies Senator Elizabeth Warren as a key obstacle to bipartisan support.

Speaking at the Wyoming Blockchain Symposium on August 19, Republican Senator Tim Scott publicly quantified his expected Democratic support for the upcoming CLARITY Act, predicting between 12 to 18 cross-aisle votes.

The Senate Banking Committee Chairman detailed his outreach to Democrats, framing the vote as a necessary step to provide regulatory certainty in the crypto industry and to deliver on President Trump’s stated goal of making the U.S. a global hub for digital finance.

Notably, Scott directly addressed the primary obstacle, naming Senator Elizabeth Warren as the central “force to overcome” for Democrats who might otherwise be inclined to support the market structure legislation.

Warren’s objections and the politics of crypto regulation

The Senate’s draft bill, which builds upon the House’s CLARITY Act, seeks to clarify how the SEC and CFTC divide oversight and provide legal certainty for exchanges and token issuers.

For its backers, the bill represents a long overdue modernization of financial rules to accommodate crypto, a sector that has grown far faster than regulators’ ability to police it. Scott and other Republicans argue that without a comprehensive structure, innovation will drift overseas, leaving American markets behind.

Warren, the Banking Committee’s top Democrat, has cast the bill in starkly different terms. She has lambasted the Republican draft as an “industry handout,” arguing it creates a bespoke regulatory regime with weaker consumer protections and lighter compliance burdens than those mandated for traditional banks and financial institutions.

The Senator’s central critique is that the bill, shaped significantly by industry input, prioritizes the wishes of the crypto lobby over the financial safety of everyday Americans, potentially exposing the economy to systemic risks. She ties this to a broader narrative of corruption, highlighting the potential for conflicts of interest.

The political elephant in the room

Senator Elizabeth Warren’s line of criticism dovetails with a potent political attack from Democrats focused on President Trump’s business interests. They point to the estimated $620 million in profits his family has reportedly garnered from various crypto ventures, including DeFi projects and memecoins, as evidence that the administration’s pro-innovation stance is less about national policy and more about personal enrichment.

This framing appears to taint the entire legislative effort, making support for the bill politically toxic for Democrats by associating it with the President’s private financial gains.

Despite this formidable hurdle, Scott’s optimism is fueled by more than just hope. It is rooted in the unprecedented alignment of a crypto-friendly executive branch. He is counting on the Trump administration to act as a powerful ally, both in lobbying hesitant legislators and in preparing the regulatory machinery for a swift implementation should the bill pass.

“We now have a team that’s leaning in and we feel like we have to get it done now. Executive action is not enough – period. If one president hated it, this one loves it, we need a Senate and a House that gets legislation passed,” Scott said in a statement.

What is at stake in September is nothing less than the immediate future of the American digital asset industry. Senator Scott’s self-imposed end-of-month deadline for committee action is a critical test of his political capital and his ability to forge a working coalition. 



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August 19, 2025 0 comments
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U.s. Treasury Seeks Public Input On Genius Stablecoin Bill
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U.S. Treasury Seeks Public Input on GENIUS Stablecoin Bill

by admin August 19, 2025



The U.S. Treasury has launched a public consultation on the GENIUS Act, a new law that aims to regulate stablecoins, digital dollars with a fixed value, and improve the role of America in global digital finance.

The Treasury is seeking the input of citizens, businesses, and professionals regarding the regulation of stablecoins, including the use of artificial intelligence, blockchain surveillance, digital identity verification, and application programming interfaces (APIs).

Today, Treasury issued a Request for Comment required by the GENIUS Act, which furthers the Administration’s policy of supporting the responsible growth and use of digital assets, as outlined in President Trump’s Executive Order on “Strengthening American Leadership in Digital…

— Treasury Department (@USTreasury) August 18, 2025

These inputs will assist in evaluating the advantages, expenses, privacy threats, and cybersecurity issues of these technologies. The deadline to submit is October 17, 2025, and submissions will be published on regulations.gov.

The GENIUS Act, signed earlier this year on July 18, 2025, creates a clear framework for U.S.-based stablecoin issuers. It builds on the U.S. President Donald Trump’s Executive Order 14178, which also allowed crypto investments in 401(k) retirement plans. 

Treasury Secretary Scott Bessent called the law a “win-win-win” for users, issuers, and the government, saying it will expand global access to the U.S. dollar and boost demand for U.S. Treasuries, the bonds backing stablecoins.

Implementing the GENIUS Act is essential to securing American leadership in digital assets.

Stablecoins will expand dollar access for billions across the globe and lead to a surge in demand for U.S. Treasuries, which back stablecoins.

It’s a win-win-win for everyone involved:… https://t.co/p5nRQpBfnw

— Treasury Secretary Scott Bessent (@SecScottBessent) August 18, 2025

Industry leaders have praised the move. Jeremy Allaire, CEO of Circle, a major stablecoin issuer, called it “more than financial legislation,” emphasizing that it shows the U.S. is ready to embrace innovations that make finance safer, more transparent, and inclusive. 

He credited policymakers, developers, and Circle’s team for driving the effort and described the law as the “starting gun” for a new era in financial technology.

The GENIUS Act signals that the U.S. is serious about leading in digital assets. By regulating stablecoins, the law aims to make digital dollars secure for billions worldwide while encouraging technological innovation in the financial system. 

Public participation now will shape how the law is implemented and how stablecoins grow globally.

Also Read: Banks call for action on GENIUS Act stablecoin yield loophole





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August 19, 2025 0 comments
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