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Trump Urges House To Pass Genius Act “Asap” Without Changes
GameFi Guides

Trump Urges House to Pass GENIUS Act “ASAP” Without Changes

by admin June 19, 2025



Donald Trump has urged the U.S. House of Representatives to approve the GENIUS Act as soon as possible and not to make any amendments. The bill, that will make the U.S. a global leader in stablecoin innovation, was recently passed by the Senate with a bipartisan majority.

In a Truth Social post shared on X, Trump praised the Senate’s decision and stressed the importance of passing a “clean” version of the bill. “Get it to my desk, ASAP – NO DELAYS, NO ADD ONS,” he wrote. He believes the GENIUS Act will help make the U.S. the undisputed leader in digital assets.

( @realDonaldTrump – Truth Social Post )
( Donald J. Trump – Jun 18, 2025, 8:01 PM ET )

The Senate just passed an incredible Bill that is going to make America the UNDISPUTED Leader in Digital Assets — Nobody will do it better, it is pure GENIUS! Digital Assets are the future,… pic.twitter.com/knDBKQnywP

— Donald J. Trump 🇺🇸 TRUTH POSTS (@TruthTrumpPosts) June 19, 2025

The GENIUS Act short for Guiding and Establishing National Innovation for US Stablecoins seeks to provide clear rules for stablecoin issuers. It now heads to the House for final approval. 

If passed without changes, it goes straight to Trump’s desk for signature. Any amendments, however, would send it back to the Senate, slowing the process.

There are concerns that the House might try to merge it with its version of the bill, the STABLE Act, but the White House has shown stronger support for GENIUS.

The Senate’s passage has already sparked market excitement. Circle stock surged 30%, and both Tether and Ripple quickly minted new stablecoins. Industry giants like Coinbase and Gemini praised the move.

Trump has consistently backed stablecoins as a way to maintain U.S. dollar dominance. With the GENIUS Act, he aims to lock in America’s leadership in digital finance.

Also Read: Ripple Mints Another 10 Million RLUSD as Senate Passes GENIUS Act





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June 19, 2025 0 comments
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GameFi Guides

Ohio House Approves Bill Exempting ‘Bitcoin Users’ From Minor Tax Burden

by admin June 19, 2025



In brief

  • The Ohio House of Representatives voted to move forward with the Blockchain Basics Act, aiming to establish a $200 tax exemption for capital gains from crypto.
  • The law also prohibits state and local governments from restricting the use of digital assets or interfering with the use of self-hosted and hardware wallets.
  • If passed, residential and industrial crypto mining operations will also be shielded from discriminatory local zoning changes.

Ohio’s House of Representatives voted on Wednesday to move forward with a new crypto bill that seeks several protections for industry participants, advancing it up the legislative chain and inching it closer to becoming law.

If signed into law by Governor Mike DeWine, the Ohio Blockchain Basics Act would prohibit state and local governments from restricting the use of digital assets as payment or interfering with individuals’ use of hardware wallets or “self-hosted” wallets.

It would also permit digital asset mining by individuals in residential areas, subject to local ordinances, and allow mining businesses to operate in industrial zones if they meet existing requirements.

It goes even further by prohibiting local governments from rezoning areas with mining businesses without providing proper notice and an opportunity for comment, and granting those businesses the right to appeal discriminatory zoning actions.

Individuals involved in mining, staking, asset exchange, or blockchain node operations would be excluded from money transmitter, security, and investment laws.

Exemptions from capital gains will also apply to every crypto transaction with a value below $200. Following a 68-26 vote, House Bill 116 now moves to the state Senate for consideration.

Changing tides

Sponsored by Rep. Steve Demetriou, HB 116 was first introduced in February and advanced from the House Technology and Innovation Committee before winning full House approval on Tuesday.

Wednesday’s legislation comes just a day after the U.S. Senate passed major stablecoin reform under the GENIUS Act in Washington, D.C., as crypto regulation across the nation this year continues to firm.

It also marks the latest in state laws enacted to codify rights for crypto users and providers, following Kentucky’s passage of a Bitcoin and Ethereum Self-Custody Law in March.

“We’re getting ready to show the country that Ohio is ready to embrace the future of our economy and blockchain technology and digital assets,” Demetriou said before the vote.

“Once we pass this bill, we’ll become one of the first states in the country to create a common-sense regulatory framework for these cutting-edge technologies and industries,” Demetriou added.

🚨BREAKING: Ohio’s HB 116 passes the House with massive bipartisan support, 68–26.

Majority Whip @steve4ohsenate’s leadership delivers the strongest Bitcoin Rights bill to pass a state chamber in the U.S.

This legislation:
✅ Protects self-custody; Your keys, Your coins. 
✅… pic.twitter.com/HXPrWflCbR

— Satoshi Action Fund (@SatoshiActFund) June 18, 2025

Other states considering new crypto regulations include Arizona, Florida, California, Texas, and Wyoming.

The Satoshi Action Fund, which advocates for state-level crypto policy reform, praised the passage of Wednesday’s bill through the House.

It’s a “clear signal” lawmakers are starting to come around to the idea of guarding the rights of industry participants, while “encouraging innovation in the Buckeye State,” Dennis Porter, CEO and co-founder of the Satoshi Action Fund, told Decrypt.



He also labeled the $200 capital gains exemption “a commonsense fix that helps everyday Bitcoin users avoid unnecessary tax complexity.”

“I’m optimistic this momentum will carry forward in the Senate and look forward to seeing Ohio emerge as a national leader on Bitcoin and digital asset policy,” he said.

The office of Representative Steve Demetriou did not respond to Decrypt’s requests for comment.

Edited by Sebastian Sinclair

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.





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June 19, 2025 0 comments
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NFT Gaming

Trump’s Crypto Wealth Estimated Near $1 Billion In White House Report

by admin June 17, 2025


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

In a recent report by Fortune, significant details emerged about President Donald Trump’s growing entanglement with the cryptocurrency industry, as disclosed in his first financial report since taking office. 

The report highlights various aspects of his business interests, including golf courses, sponsorship deals, and his publicly traded media group. Notably, it sheds light on Trump’s crypto platform, World Liberty Financial (WLFI), which was announced by his sons last summer.

$57 Million Earned From Crypto Token Sales

The financial disclosure reveals that Trump has generated over $57 million from token sales on the World Liberty platform. He holds nearly 16 billion governance WLFI tokens—essentially the crypto equivalent of voting shares—issued by the company. 

Based on previous sales, which valued the tokens between $1.5 and $0.5, Trump’s holdings could potentially be worth close to $1 billion, although the tokens are not currently trading, as estimated by Bloomberg.

As discussions in Congress about blockchain regulation intensify, government watchdogs are raising concerns about potential conflicts of interest stemming from Trump’s ventures in the crypto space. This report provides the first substantial insight into how deeply embedded Trump has become in digital assets.

Before his recent campaign, Trump expressed skepticism about cryptocurrencies, famously labeling Bitcoin (BTC)  a “scam” just a few years ago. However, during his last campaign, he began to embrace blockchain technology, promising to be the first president to support the industry. 

His engagement has included appearances at industry events, such as the National Bitcoin conference, where he promoted the technology and explored his business opportunities in the sector.

Trump Expands Digital Asset Ventures

Trump’s foray into crypto has expanded beyond the initial launch of a series of non-fungible tokens (NFTs) to a more comprehensive engagement through World Liberty Financial. 

Announced by his son Eric Trump last August, the World Liberty Financial platform aims to herald a “new era of finance,” although its specific functions remain somewhat unclear to date. 

In recent months, World Liberty has rolled out several products, including governance tokens and a dollar-pegged stablecoin named USD1. This stablecoin has garnered attention as it was utilized by an Emirati investment firm to inject $2 billion into Binance, one of the world’s largest crypto exchanges.

The report also touches on another significant aspect of Trump’s crypto ventures—his memecoin, also named TRUMP, which launched just before his inauguration. While the memecoin’s market capitalization has plummeted from $9 billion in January to around $2 billion today, it remains a controversial asset. 

It is believed that Trump’s organization owns about 80% of the total supply of this memecoin. In May, Trump hosted a dinner for top memecoin holders, an event that sparked criticism from lawmakers, particularly Democrats.

The daily chart shows Bitcoin’s Monday surge. Source: BTCUSDT on TradingView.com

As of this writing, Bitcoin is trading at $107,550, having briefly dropped to $102,000 at the end of last week. According to CoinGecko data, the cryptocurrency has increased by 4.5% over the past month.

Featured image from Bloomberg, 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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June 17, 2025 0 comments
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8 Best Cordless Vacuums for Your Whole House (2025)
Product Reviews

8 Best Cordless Vacuums for Your Whole House (2025)

by admin June 11, 2025


Honorable Mentions

We haven’t tried a vacuum yet that we absolutely hate. These ones below are solid vacuums, and in some cases are much cheaper than our top picks, but we didn’t like them as much.

Bissell IconPet Turbo Edge for $200: Bissell’s OG stick vacuum is a popular model that’s been around for a while. It does a good job picking up hair and cat litter, and easily turns into a handheld vac, too. The battery lasts a little longer, but former WIRED reviewer Medea Giordano wasn’t impressed by its Cheerio-gathering skills, and it can’t stand up on its own.

Dirt Devil Power Swerve Pet Cordless Stick Vacuum for $93: We previously recommended this as a budget pick. It’s a good vacuum for the money, but there are mixed results on how long the battery will last and the build quality.

Dyson V12 Detect for $580: The V12 Detect (8/10, WIRED Recommends) is one to consider if you want something even slightly cheaper and lighter than the V15 (though it’s not as powerful and has a smaller bin).

Eufy Robot Vacuum 3-In-1 E20 for $400: WIRED reviewer Adrienne So was stoked to try Eufy’s E20 (8/10, WIRED Reviews) that is a stick vacuum, handheld vacuum, and robot vacuum all in one. It’s a handy, well-designed device, but it’s only good for light cleaning.

Eureka Innova Cordless Stick Multi-Surface Vacuum for $207: This is a good stick vacuum at a reasonable price. It cleaned up a litter mat especially well, and there are specific carpet and hardwood settings. However, to suck up larger pieces like Cheerios, I had to lift the vacuum up and place it directly on top of them.

Greenworks Powerall 24V Cordless Stick Vacuum for $288: I liked this stick vac’s LED screen to let me know what power level I was on and how much battery power I had left based on the power level I was using. It comes with a nice array of attachments, and has a battery like a power tool which makes it top-heavy.

Hoover OnePwr Emerge Pet for $153: Our tester said that this wasn’t a bad vacuum in regular mode, but the attachments felt flimsy with weak suction power. Otherwise, it got the job done.

Mova S1 Detect Cordless Vacuum for $299: This is a nice stick vacuum that comes with a nice set of attachments, and it worked well in my home. Our top pick can do a similar job for cheaper, though, and it takes a considerable effort to place the canister back into place when you empty it.

Proscenic P13 Cordless Vacuum for $130: Our tester was amazed how well the green light on this vacuum illuminated dust and dirt. It was almost gross to see how much goes unnoticed in regular lighting. However, it required many passes to actually clean most of that debris. For the price, it’s not bad as an untethered day-to-day vacuum, but you’ll definitely need a more powerful upright vacuum for deeper cleans.

Tineco Go Pet Cordless Vacuum for $300: WIRED reviewer Molly Higgins tested this vacuum for pet hair, and she was left underwhelmed with the experience. It’s a solid vac, but we recommend better options.

Worx 20V Cordless Stick Vacuum for $160: This is a fine enough vacuum, but the dustbin was difficult to clean out compared to others I tested.

How We Tested

The best way to test a vacuum is to use it like you usually would. So, for a few months, we lived with these cordless vacuums, rotating through them to handle day-to-day messes and weekly deep cleans on hardwood floors, area rugs, and carpets. We charged them, asked our partners to use them, and even took some to a retail store to clean up after antique furniture and heavy foot traffic.

We also performed head-to-head testing, comparing how each picked up piles of Cheerios and cat litter, seeing if they blew debris around or needed several passes. We also took heaps of already matted dust and dirt from inside the vacuum bins to see how easily the vacuums could suck them back up in their thickened state.

Power up with unlimited access to WIRED. Get best-in-class reporting that’s too important to ignore for just $2.50 $1 per month for 1 year. Includes unlimited digital access and exclusive subscriber-only content. Subscribe Today.



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June 11, 2025 0 comments
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House Advances Major Crypto Bill. Industry Voices React
GameFi Guides

House Advances Major Crypto Bill. Industry Voices React

by admin June 11, 2025


The House Financial Services Committee has advanced the CLARITY Act, a landmark crypto market structure bill. 

The legislation passed the major hurdle with a vote of 32-19. It secured some minor bipartisan support, with Rep. Ritchie Torres (D‑NY) and Rep. Cleo Fields (D-LA) joining the Republicans to advance the legislation. 

The bill aspires to establish a clear regulatory framework for cryptocurrencies. 

It stipulates that the CFTC will oversee digital commodities while the SEC retains authority over investment contracts. Over time, some tokens might no longer be subject to SEC oversight. The two agencies are supposed to collaborate with each other in order to establish a cohesive regulatory framework.

“The CLARITY Act incorporates ideas and feedback from stakeholders, experts, and members of Congress from across the ideological spectrum. Crucially, this bill is going to cement the U.S. as the center of innovation in the digital asset space,” Red. Bryan Steil (R-WI) said. 

The advancement of the bill is seen as another major legislative win for the cryptocurrency community. 

Faryar Shirzad, chief policy officer at cryptocurrency exchange Coinbase, has stated that this could be one of the biggest weeks for crypto in terms of crypto policy: 

“By Friday, we could see clear rules around stablecoins pass the Senate and productive markups of the CLARITY Act in two House Committees,” he said. 



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June 11, 2025 0 comments
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Crypto Trends

CLARITY Act Clears Two House Committees, Heads to House Floor for Vote

by admin June 11, 2025



In brief

  • The House Financial Services Committee has advanced the CLARITY Act in a 32-19 vote.
  • The House Agriculture Committee also passed the bill 47-6 on Tuesday.
  • If passed in Congress, the Act would establish new crypto oversight framework, favoring the CFTC.

The Digital Asset Market Clarity Act, a bill aiming to reshape crypto regulation in the U.S., has passed through two key House committees and is now headed for a full floor vote. 

The House Committee on Financial Services voted 32-19 on Wednesday to advance H.R. 3633, following a bipartisan 47-6 vote in the House Agriculture Committee, which also oversees commodity markets and digital assets, on Tuesday.

“Blockchain technology and digital assets are reshaping the future of American finance,” House Financial Services Chair French Hill (R-AR) said in a statement. “Congress has a historic opportunity to provide the clear regulatory framework needed to unlock this innovation.”

The dual approvals mark a significant milestone for the legislation, which needed to pass both committees before reaching the full House. The bill’s two marked-up versions will now be consolidated into one text for floor consideration.

If passed, the CLARITY Act would formalize the removal of oversight powers from the Securities and Exchange Commission and establish the more hands-off Commodity Futures Trading Commission as the primary regulator for most digital assets. 

Crypto issuers could still opt into SEC registration if they seek to sell directly to institutional investors.

“Today marks a historic moment for the digital asset industry,” Ji Kim, President and acting CEO of the Crypto Council for Innovation, said in a separate statement.

“The House Financial Services and Agriculture Committees both advanced the CLARITY Act—a major step toward clear crypto rules that define SEC and CFTC roles, protect self-custody, and safeguard consumers,” Kim added.



Even still, critics warn the measure could reduce financial safeguards and open regulatory loopholes.

Despite some bipartisan momentum, the bill faced heavy criticism from Democrats during Tuesday’s Financial Services Committee markup. Some argued the bill paves the way for corruption and pointed to former President Donald Trump’s crypto ventures as a concern.

Others, including pro-crypto Rep. Sam Liccardo (D-CA), questioned its allowing loopholes that could see companies call themselves decentralized finance projects to evade regulation.

Republicans defended the bill, emphasizing that regulatory status would be based on a platform’s function, not its label. They voted down numerous Democratic amendments, including provisions barring presidential crypto ventures and taxpayer-funded bailouts for token issuers.

“This bill is not about the personal finances of any one individual,” Hill said. “It’s not an ethics bill.”

Edited by Sebastian Sinclair

Daily Debrief Newsletter

Start every day with the top news stories right now, plus original features, a podcast, videos and more.



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June 11, 2025 0 comments
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Dune Awakening is the perfect blend of survival, MMORPG, and house envy
Game Reviews

Dune Awakening is the perfect blend of survival, MMORPG, and house envy

by admin June 10, 2025


Dune Awakening is out at last, and it’s a strange, wonderful blend of an MMORPG and an open world survival game. This melding of genres results in a game of two halves, weaved together with a rich and deep care for the source material. Funcom, somehow, has managed to juggle these components expertly. The result? A game unlike any I’ve really played before.

The game itself is massive. Already I’ve sunk 30+ hours into it and still find myself with plenty to explore, heaps to build and the fog of war covering portions of the map. In that time I’ve explored the majority of the main map: Hagga Basin. I’ve narrowly avoided getting vored by a worm, and I’ve experienced something I only thought 40-year-old home owners get to experience: house envy.

The soul of survival in Dune Awakening is an ever-present core of every play session you’ll have with the game. When you start, you’re building scrap metal knives and plant fibre rags, but soon enough you’ll find yourself constructing more elaborate, more expensive goodies. The survival cycle is thus: build a base, gather materials, construct new gear.

Watch the Dune Awakening launch trailer here!Watch on YouTube

You repeat that until you’ve finished crafting everything you want from the tier of materials available, at which point you hop on a bike or buggy and drive into the perilous unknown in order to do it all over again. It’s a moreish process that even 30 hours in I’ve not gotten tired of yet.

There’s something about cutting an ore node apart with a laser that feels and sounds fantastic, something about the audio visual feast you get when floating down from great heights. Dune Awakening’s survival gameplay may follow a traditional cycle, but its repackaged in such fine wrapping paper it’s hard to get bored of.

As for the world itself, it’s rich in lore, secret hideaways, and well, sand. It doesn’t matter what shade the grain is, nor how rocky one zone is compared to another, the vast majority of Dune Awakening that I’ve seen so far is a sun-seared brown. Obviously right, it’s Dune. But it’s worth noting for those who quickly tire of a lack of visual variety.

Hope you like sand! | Image credit: Eurogamer

Those with a greater tolerance for such matters will find the initially minute differences between zones forces you to adapt the way you play. Zones I’ve entered appear to get progressively hotter, which means water management is more important, which means you may struggle to roam thirsty and carefree.

Bizarrely, the worms themselves take a back seat around the 15-hour mark, replaced instead with grand vertical spires of stone, covered with snipers, heavy gunners, and buffer enemies. Here you must learn to make use of your suspensor belt, practice good stamina management, and prepare for battles against four or five shielded foes at once. I found myself pleasantly challenged by the steady difficulty curve present here.

One worry I did have previewing the game prior to its launch was how easy and repetitive melee combat can be. Enemies weren’t dodging out of combos, and you could rinse and repeat slow stabs to make short work of even the henchest shielded foe. This has been addressed! Enemies do actually hold their own now, and if you find yourself overwhelmed, dying is not a rare occurrence.

You’ll want at least a basic base to store all your hardfought gains. | Image credit: Eurogamer

When you do die, you drop a portion of your materials and all your equipment suffers damage. You’ll then have to trek back to collect your lost goods, which thanks to a handy checkpoint system and craftable respawn beacons isn’t frustrating at all. The exception is the worms. If you get eaten, all your gear is gone. Permanently.

This may sound like a nightmare, and I’ll confess the one time I got all my steel gear and mark 2 bike eaten I was exceptionally tilted, but it ultimately adds to the experience. If the worms were a joke, the majority of the survival portion wouldn’t be nearly as enjoyable.

That’s the trick, you see. The trick to making both a great survival game and a faithful send-up to the Dune universe. Make it hard. Not unfair, not cheap, but difficult in meaningful ways. Funcom, by bringing in elements of the sci-fi classic and implementing them into a survival game structure, has created an endearing base from which it can build an MMO upon. A sturdy survival game which hundreds of hours can be perched atop.

Unlocking better gear itself is a lengthy process, one that is paramount to your survival in harsher climates. | Image credit: Eurogamer

As the survival elements start to become a laborious process of rushing back and forth between the nearest ironworks, or mineral extraction facility, the MMO portion starts to kick in. More often than not you’ll see an Orniphopter flying overhead, and driving through a region will present you with plenty of houses of other players.

As such the harsh desert of Arrakis quickly feels more like a suburb of stone shacks and more elaborate houses for the creatively inclined. Here I discovered a feeling I didn’t think I’d experience until I owned a real home of my own.

There is a player on my server, a short hop away from my front door, with a beautiful house. We both snatched up great real estate near Pinnacle Station and set up shop, except while I busied myself with contracts peppered across the map they seemingly busted out the CAD software and sketching paper, and built a mansion. Peering through their windows, I see they’ve put down a carpet, and a portrait on the wall.

Here’s someone else I’m jealous of. That row of wind generators may as well be Greg next door getting solar panels installed. Makes the whole street feel inadequate! | Image credit: Eurogamer

I hate them, for two good reasons. One, they have a nicer house and vehicle than me. I see them flying from their roof in their ornithopter while I slide down a makeshift ramp in my basic buggy. Second, they’re Atreides.

Early on in Dune Awakening you’re introduced to the two great houses, but your engagement with the politics of the situation remains almost entirely a PvE matter. Around the 30 hour mark things start to get a touch more player focused. Players with disposable income buy customisation for their clothes and bikes, so you can see which faction someone aligns with. They can also engage in the Landsraad system.

I haven’t interacted with the Landsraad yet, I am guildless and poor, but already it has interacted with me. By forming guilds and aligning with a faction, players can fight over the vote of smaller houses dotted around Dune Awakening. Put simply, if a faction has more votes than another, they get to vote on a powerful faction-wide boon for the next real world week. The Atredies won the first week, somehow.

On my server, the Atredies chose to gain access to a special vehicle shop that only they can browse and buy from. You see how the tensions between players naturally fosters in Dune Awakening? Not only does my neighbour have a nicer house and car than me, he also shops in the nicer part of town? Maybe next week I’ll work to win the Landsraad, and maybe I’ll build a flamethrower to help me do it.

While I’ve not yet reached the “end game” and all it entails, Dune Awakening has this beautiful gradual shift from a pure survival experience to a more MMO-centric one. It shifts slowly in the background, in a fluid manner that quietly encourages everyone (even those who may just be around to craft a cool car and drive it around) to take up arms against their fellow player, literally or through other endeavors.

It’s a tantalizing all out war of blades, guns, and minds built upon a wonderful survival game foundation that is well worth playing. So tantalizing in fact that it was hard to pull myself away from the game to write about it. You can thank a server maintenance window (coinciding with the weekly reset) for this set of thoughts existing.

It’s too early for a full review, but as of right now I see little reason not to recommend giving Dune Awakening’s unique offering a chance.



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June 10, 2025 0 comments
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Netflix
NFT Gaming

1 Bitcoin Up For Grabs On Netflix Reality Show ‘House Of Streams’

by admin June 8, 2025


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

Netflix is gearing up to launch a new reality series called “House of Streams” on June 18 in the UK and Ireland. Eight well-known online streamers will face off for a prize that’s anything but ordinary. Instead of cash, the winner will claim 1 Bitcoin—worth more than $104,000 at current rates.

Show Details And Prize

According to Netflix’s announcement, the series drops on June 18 and features eight contestants. They’ve built a combined audience of about 4 million followers.

Viewers can expect challenges that test creativity, teamwork, and quick thinking. The top performer walks away with the full Bitcoin reward, which could rise or fall in value once the show ends.

🍿 NEW: Netflix show “The House of Streams” to give away 1 $BTC in Twitch streamer competition..
Playing for Bitcoin just hits different! pic.twitter.com/x44Dwey3Pf

— Manana Samuseva📍NYC (@MananaSamuseva) June 6, 2025

Contestant Lineup Highlights

According to reports, the list of participants includes Twitch stars The Black Hokage, CyborgAngel, and OutplayedByJade. All these streamers have individual styles and faithful followers. Some are famous for long hours of gaming. Others base their audiences around artwork or comments. All will face off under one roof.

Backing And Broader Crypto Content

Netflix isn’t new to cryptocurrency themes. Earlier releases like “Trust No One: The Hunt for the Crypto King” explored the QuadrigaCX collapse. And the upcoming “The Altruists” series covers US President Donald Trump’s former FTX CEO Sam Bankman-Fried alongside Caroline Ellison’s story. This new reality project seems designed to tap into that existing interest in blockchain and digital assets.

BTC is now trading at $105,807. Chart: TradingView

Safety Alerts And Scams Warning

On May 22, producers issued a warning: “We support Bitcoin and no other memecoin.” They’re trying to head off fake tokens and pump-and-dump schemes.

In the past, big promotions have drawn copycat coins that vanish as soon as they peak. Contestants and fans alike are being urged to stay vigilant and only trust official channels.

Bitcoin price up in the last 24 hours. Source: Coingecko

Real-World Risks For Crypto Holders

Security experts say high asset values can make crypto figures targets. In May 2024, French police rescued the father of an entrepreneur held in suburbia after attackers severed one finger. In another case, masked men tried to abduct the family of Pierre Noizat, CEO of French exchange Paymium.

And late last month, three teenagers from Florida allegedly kidnapped a man at gunpoint in Las Vegas and drove him over 70 miles to a desert near White Hills, Arizona. Victims found themselves blindfolded and warned not to look back.

As Netflix readies House of Streams, it faces two challenges. First, it must satisfy viewers looking for both fun and authenticity. Second, it must navigate the very real dangers that follow high-value crypto prizes.

Featured image from Unsplash, 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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June 8, 2025 0 comments
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Crypto Trends

House Democrats Sound Alarm on CLARITY Act: Impact ‘Will Not Be Quarantined to Crypto’, Says Expert

by admin June 7, 2025



In brief

  • House Democrats convened a “minority day” hearing Friday to express concerns about the CLARITY Act.
  • The crypto market structure bill would establish a framework for regulating most of the digital assets industry.
  • Experts said Friday the bill contains loopholes that could allow traditional finance firms to evade regulation.

Democrats on the House Financial Services Committee held their own hearing Friday to discuss a pending crypto market structure bill, during which witnesses laid out concerns about the legislation’s potentially wide-reaching implications for American securities markets.

Whereas most hearings about the bill have thus far been convened by the committee’s Republican majority, which introduced it, today’s “minority day” convening offered Democrats the rare opportunity to focus attention on perceived flaws in the legislation.

The CLARITY Act would, for the first time, create a legal framework in the United States for issuing and trading most crypto assets. It would do so in part by explicitly exempting most crypto assets from the SEC’s oversight. 

On Friday, Democrat-picked witnesses expressed concerns about the potential knock-on effects of such a strategy.



“This bill’s regulatory gaps will not be quarantined to crypto,” one witness, Amanda Fischer, Policy Director at Better Markets, said during testimony before the committee. 

Fischer said that by carving crypto out of U.S. securities laws that have existed since the 1930s, the CLARITY Act would incentivize traditional financial institutions to “shoehorn” routine functions like capital raising onto blockchain networks as a means of dodging regulation and lowering costs. 

The policy expert, who previously served as chief of staff to Biden-era SEC chair Gary Gensler, pointed to comments made by Robinhood CEO Vlad Tenev over the last year that running a crypto business is “an order of magnitude” less expensive than operating a traditional securities brokerage. Robinhood has signaled interest in moving much of its core business onto blockchain networks by tokenizing assets.

“He doesn’t have to pay for customer protection, SEC exams, or SIPC insurance,” Fischer said, referencing the Securities Investor Protection Corporation, a federally mandated program for insuring customer deposits at securities brokerages in the case of a firm’s failure. “Of course it’s cheaper.” 

Another concern raised by the panel Friday focused on the CLARITY Act’s two-tiered system for categorizing crypto assets. Most crypto tokens would be automatically considered “digital commodities” under the bill, and thus exempt from SEC regulation. But token issuers wishing to engage in activity more closely resembling a traditional securities offering, such as institutional token sales to the public, have the option to register as “mature blockchain systems” with the SEC, a yearslong process with more stringent requirements. 

Fischer argued that few if any token issuers will ever engage with that more rigorous process, given that the CLARITY Act, in her opinion, already offers so many loopholes a token issuer could take advantage of instead of conceding that their offering represents an investment contract.

“Crypto issuers will claim they’re DeFi; claim that they’re not offering investment contracts; claim that they’re collectibles or meme coins; claim that they’re airdrops, or claim that they’re subject to the [bill’s] grandfathering provision,” she said. 

That position appeared to garner sympathy not just from industry-skeptical Democrats, but also from key pro-crypto party members—including Rep. Sam Liccardo (D-CA), who expressed worry about the CLARITY Act’s hands-off approach to certain crypto markets, particularly decentralized finance (DeFi). The bill, by the insistence of the crypto industry and House Republicans, explicitly carves out DeFi activity from its novel regulatory framework. 

“[DeFi activity] is increasing rapidly, and I’m guessing it’s going to be the majority of transactions very soon,” Liccardo said. “I’m concerned about this bill and essentially launching a global naval strategy, and putting all your ships on Lake Superior when you know there’s an ocean out there that you’re not covering.”

Though numerous substantive issues related to the bill were discussed during Friday’s hearing, Democratic leaders like Financial Services Committee Ranking Member Maxine Waters (D-CA) focused their critiques mainly on the refusal of Republicans to include language in the legislation that would bar President Donald Trump from engaging in his numerous, lucrative crypto ventures while in office. 

Republican leadership on the committee, meanwhile, focused their rebuttals Friday more on these Trump-focused arguments than on issues raised about the existing text of the CLARITY Act.

“Is this really a substantive conversation about the legislation at hand, or has this just evolved into another partisan exercise?” Rep. Mike Flood (R-NE), chair of the Financial Services Subcommittee on Housing and Insurance, asked at one point during the proceedings.

Edited by Andrew Hayward

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House Dems Get Bonus Hearing on Crypto Market Structure, Assail Trump Conflicts

by admin June 7, 2025



WASHINGTON, D.C. — U.S. President Donald Trump’s crypto ventures were once again under the microscope during a House Financial Services Committee hearing that otherwise saw legal experts express worries about how regulators might police digital assets under a market structure bill.

The committee held a “minority day” hearing — meaning the witnesses were primarily picked by the Democrats, the current minority party in the House — on Friday, letting lawmakers ask questions more targeted on concerns they have with the Digital Asset Market Clarity Act, the Republican-led market structure legislation that will receive a markup vote next week.

Maxine Waters, the ranking Democrat on the committee who’d demanding this extracurricular hearing after the panel met earlier in the week on the same topic, pointed to Trump’s various crypto efforts in her opening statement, saying her goal was to stop Trump from profiting off of his crypto ventures to the extent he has been.

“What I’m opposed to in this act … is the crooked president of the United States of America, who’s decided to use the office of the presidency to enhance his access to profits,” Waters said.

Republicans focused on a different tack: “Currently, there is no federal framework for non-security digital assets,” Committee Chair French Hill said in his own opening statement, a stance echoed by his colleagues Bryan Steil and Warren Davidson. They contend that Democrats and the administration of former President Joe Biden allowed years to pass in which they failed to protect consumers by offering no rules to oversee crypto.

Crypto has driven an ideological wedge into the Democratic Party on Capitol Hill, with many Democrats — typically skewing toward the younger members — supporting the advancement of digital assets legislation despite the direction of their leadership. Most of the Democrats attending this bonus hearing on the Clarity Act were in the crypto-critical camp, though Representative Jim Himes, a Connecticut Democrat, has supported crypto bills in the past and questioned witnesses at the hearing about his concerns that the bill may include loopholes that could allow financial firms to dodge oversight.

Himes, a yes vote on last year’s predecessor to the Clarity Act — the Financial Innovation and Technology for the 21st Century Act, or FIT21 — said some of the provisions in the new effort may allow for a carveout that can be abused by certain types of issuers under Securities and Exchange Commission regulations.

The Clarity Act itself is more complicated than it needs to be and does not address some of the cybersecurity risks posed to the cryptocurrency industry, said Carole House, a former White House adviser who is now a senior fellow at the Atlantic Council GeoEconomics Center. She pointed to recent crypto hacks, including crypto exchange ByBit, as an example.

Amanda Fischer, policy director at Better Markets, a Washington group advocating for financial policies that favor the public, said her bigger issue was with the exceptions that exist for companies to seek regulation under the Commodity Futures Trading Commission rather than the Securities and Exchange Commission, saying that it might provide loopholes for issuers or other crypto companies that otherwise would be regulated under the SEC and be subject to securities registration and reporting requirements.

But as has been seen in other recent hearings, Trump’s crypto ties again reappeared as the star of the show.

Bart Naylor, a policy expert at Public Citizen and a former investigator for the Senate Banking Committee, said he believes Trump is specifically soliciting gifts through his memecoin and selling favors through actions like his memecoin dinner or by terminating SEC lawsuits against companies which donated money to him.

White House officials have routinely denied Trump is exhibiting a conflict of interests in his pursuit of digital assets business gains.

Waters had staged a walkout last month from what was meant to be a joint hearing of this and the House Agriculture Committee on crypto policy, though industry insiders were careful to note that not all the panel’s Democrats followed Waters’ departure.

Read More: Planned Crypto Hearing in U.S. House Derailed by Democrat Revolt



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