ChainCatcher news, according to The Wall Street Journal, the upcoming "GENIUS Act" to be passed by the U.S. Congress will incorporate stablecoins into the mainstream financial system, a piece of legislation that has sparked strong interest from startups, banks, and even giants like Walmart.However, under the "GENIUS Act," stablecoin issuers are required to hold reserves in safe assets such as cash and short-term U.S. Treasury bonds, and large issuers must also publish audited annual financial reports. This poses a severe challenge to Tether, which holds a 66% share of the stablecoin market (with a circulation of $156 billion) ------ the company's USDT is currently partially backed by Bitcoin and gold, and it has long refused to fully disclose financial details. Former federal prosecutor Scott Armstrong, who has handled crypto cases, pointed out: "This could lead to Tether being unable to continue operating in the U.S."Tether representatives did not respond to requests for comment. CEO Paolo Ardoino has stated that they may issue localized stablecoins to maintain their U.S. business. The bill sets a transition period for compliance: the Senate version allows a 3-year grace period, while the House's accompanying bill under review requires compliance within 18 months, ultimately needing to be signed into law by President Trump, who supports the bill.

ChainCatcher news, according to the WSJ report, sources revealed that the Trump team is considering issuing an executive order to prohibit banks from closing or denying accounts based on customers' political positions or industries. This measure aims to address Republican criticisms of large banks for implementing discriminatory practices in sectors such as energy and firearms.The report states that several banks, including JPMorgan Chase, Citibank, and Bank of America, recently met with Republican state officials to respond to the related allegations. The order may grant federal regulators the authority to penalize the banks involved.

ChainCatcher news, according to The Wall Street Journal, officials say that Israel continues to strike at Iran's military infrastructure but is seeking to end the war with Iran as soon as possible. Meanwhile, International Atomic Energy Agency Director General Grossi stated that the U.S. attack on Iran's Fordow uranium enrichment facility is expected to cause "very significant damage."One of the Iranian targets struck by Israel is a prison that holds political prisoners and regime opponents. Tehran's response to the U.S. attack on its nuclear facilities has revealed almost no clues. The clerical leaders of the Iranian regime face a dangerous choice: retaliating against the U.S. could lead to an escalation of war with two militarily stronger adversaries, or returning to nuclear negotiations, during which they may have to make concessions on nuclear enrichment and ballistic missile arsenals—two pillars of national sovereignty.Supreme Leader Ali Khamenei, in what appears to be his first comments since the U.S. attack, did not mention the U.S. on the X platform but focused on Israel. He stated that Israel has made a "serious mistake" and is "now being punished."Today, the overall sentiment in the cryptocurrency market has slightly improved compared to yesterday, with the fear and greed index at 47 (up from 42 yesterday), indicating a return to "neutral" sentiment in the crypto market. Bitcoin dipped to $98,200 this morning but has since rebounded to $101,359, with the 24-hour decline narrowing to 1.21%.

ChainCatcher news, Binance founder Zhao Changpeng (CZ) responded on the X platform to a recent report by The Wall Street Journal regarding his involvement in the World Liberty Financial project, stating that it was not a genuine interview but a "malicious fabrication under the guise of questioning," and questioning whether it has become a "megaphone for negative narratives."Zhao Changpeng cited the "Cunningham's Law" to point out that the WSJ attempts to induce clarification by constructing false narratives, which goes against the spirit of journalistic integrity. He emphasized that the inquiries submitted by the WSJ were filled with "false and negative assumptions," such as accusing him of "facilitating" the WLF team and arranging meetings with Pakistani official Saqib, whereas the fact is that his first meeting with Saqib was in Pakistan, and he had not been involved in any international itinerary of WLF.He stated bluntly, "When reporting starts from a negative standpoint, the so-called 'correction' is meaningless because the entire story itself is fabricated." He believes that this incident reflects "the attempts of certain forces in the United States to suppress the development of the cryptocurrency industry, targeting global crypto leaders and governments that support crypto."

ChainCatcher news, according to The Wall Street Journal, large commercial banks such as JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo are discussing a joint issuance of stablecoins to address the growing competition in the cryptocurrency industry. The negotiating parties include Zelle payment system operator Early Warning Services and the real-time payment network Clearing House.

ChainCatcher news, according to The Wall Street Journal, the cryptocurrency exchange platform Kraken will launch over 50 tokenized stocks and ETFs, including stocks of Apple, Tesla, and Nvidia, initially in Europe, Latin America, Africa, and Asia.

ChainCatcher news, according to The Wall Street Journal, Coinbase executives stated that they plan to acquire the cryptocurrency options platform Deribit for $2.9 billion.The deal still requires regulatory approval, and Coinbase will also take over Deribit's operating license in Dubai.

ChainCatcher news, Musk criticized the Wall Street Journal's report "Tesla's board seeks to replace CEO" as false: "This is an extreme act of moral decay; the Wall Street Journal actually published a deliberately fabricated false article. The Tesla board had clearly denied this before the report was published, yet the Wall Street Journal still chose to release it."Previous news, Tesla executives refuted the rumors of replacing the CEO, stating that the board has full confidence in Musk.

ChainCatcher news, according to Nick Timiraos, a reporter for the Wall Street Journal known as the "Fed's mouthpiece," posted on X that U.S. President Trump signaled that if his trade war leads to economic weakness and the Federal Reserve does not cut interest rates quickly, he will blame the Federal Reserve.

ChainCatcher news, Sun Yuchen responded to the WSJ report on X, stating: "I am not aware of the rumors circulating online at the moment. Zhao Changpeng is my mentor and friend, as well as my benefactor. During my entrepreneurial journey, he has provided me with attention, guidance, and direction! To this day, his principles and style of conduct remain the highest standards I strive for as an entrepreneur. Meanwhile, the U.S. Department of Justice has always been one of our closest and most trusted partners at T3FCU. We have worked together to handle numerous important cases aimed at protecting global users and punishing criminal organizations worldwide. Whether it is Zhao Changpeng or our partners at the Department of Justice, we always maintain direct and honest communication. I have complete trust in each of them. Under the wise leadership of President Trump’s cryptocurrency policy, the U.S. cryptocurrency industry is bound to achieve greater success. As one of the first cryptocurrencies chosen by the president, TRX will also benefit from this success."Previously, the WSJ reported today that Zhao Changpeng had agreed to provide evidence regarding Sun Yuchen's financial crimes to the prosecution when he pleaded guilty.

ChainCatcher news, The Wall Street Journal reports that Microstrategy may face huge tax liabilities due to unrealized gains. The company holds 461,000 bitcoins and may need to sell some of them to pay taxes if it does not obtain an exemption.This issue stems from the Corporate Alternative Minimum Tax (CAMT) in Biden's 2022 Inflation Reduction Act, which requires companies with annual revenues exceeding $1 billion to pay a minimum tax of 15%. CAMT specifically targets unrealized gains, which could impact Microstrategy's financial situation and potentially affect the cryptocurrency market.While some believe this prediction is over-speculation, critics argue that taxing unrealized gains undermines property rights and market stability, and forcing companies to sell assets to meet tax obligations infringes on their right to manage resources freely. Whether Trump will intervene remains uncertain.

ChainCatcher news, OpenAI CEO Sam Altman posted on the X platform stating: "I think the Wall Street Journal (WSJ) is currently the best newspaper in the United States, but just hours after we announced the o3 model, they published an article titled 'The Next Great Leap in AI Is Behind Schedule and Crazy Expensive'?!"It is reported that OpenAI is currently developing a new generation of reasoning models that will think more deeply about user questions. In terms of naming, they may skip the "o2" designation to avoid trademark conflicts with the UK telecom operator O2, and directly use "o3".

ChainCatcher news, according to The Wall Street Journal, Trump's team is inquiring whether the president-elect can eliminate financial regulatory agencies or merge them together.Sources familiar with the matter revealed that advisors to president-elect Trump asked some consultants from the Department of Government Efficiency, led by Elon Musk, whether it would be possible to abolish the Federal Deposit Insurance Corporation (FDIC) during discussions with potential candidates for banking regulatory positions.Trump's advisors also inquired about potential candidates for the FDIC and the Office of the Comptroller of the Currency, asking if bank deposit insurance could be incorporated into the Treasury Department. Additionally, plans were proposed to merge or completely reform the FDIC, the Office of the Comptroller of the Currency, and the Federal Reserve.

ChainCatcher news, a WSJ article suggests that once Trump returns to the White House, the U.S. SEC may ease its legal battles against cryptocurrency exchanges. Although Trump has not revealed his choice for the next SEC chairman, rumors suggest that several contenders are vying for the position following Gary Gensler's resignation.The next SEC chairman may come from a group of experienced regulators and legal giants, each bringing unique expertise. Paul Atkins, who served as an SEC commissioner from 2002 to 2008 and currently leads financial consulting at Patomak Global Partners, is considered a strong candidate.Additionally, since 2022, Mark Uyeda has gained attention for his pro-cryptocurrency stance, aligning with Trump's regulatory views. Former Acting Comptroller of the Currency Brian Brooks and former SEC General Counsel Robert Stebbins have also emerged as strong contenders. Legal heavyweights Richard Farley and Norm Champ have also joined the race.

ChainCatcher message, The Wall Street Journal reviews Powell's 50 basis point rate cut, stating that the Federal Reserve's goal is to replicate the masterpiece of former Fed Chairman Greenspan in the 1990s, where the rate cut in 1995 laid the foundation for the subsequent soft landing of the U.S. economy and the prosperity of the late 1990s.

ChainCatcher news, according to the WSJ report, Telegram founder and CEO Pavel Durov was arrested in France last Saturday, which has drawn "anger" from Russian officials.The Russian embassy in France issued a statement earlier on Sunday, stating that French authorities had refused their attempts to contact Durov. "After the news of Durov's detention appeared in the media, we immediately requested clarification from the French authorities regarding the reasons and asked them to ensure the protection of Durov's rights and provide consular access. As of today, the French side has remained silent on this issue. We are in contact with Durov's lawyer," the translated version of the statement read.Some Russian officials described the arrest as an indirect hostile act against Russia. Reports indicate that Durov holds dual citizenship in France and Russia, while others suggest he has dual citizenship in France and the UAE. Additionally, according to NPR, the Paris prosecutor's office stated that French officials are expected to respond to the arrest issue in a statement on Monday. Telegram also issued its first statement regarding the arrest that day, stating: "Telegram complies with EU laws, including the Digital Services Act," and "Telegram CEO Pavel Durov has nothing to hide; he frequently travels in Europe."While some news outlets claim that Durov could face 20 years in prison, the initial reports from French media did not mention this figure. Following Durov's arrest, many prominent figures in the crypto industry expressed their support for him, including X platform owner Elon Musk, Ethereum co-founder Vitalik Buterin (who noted that his views are based on the information available so far), TRON founder Justin Sun, and Solana co-founder Anatoly Yakovenko, among others.

ChainCatcher news, according to The Wall Street Journal, former U.S. President Barack Obama and Michelle Obama expressed their support for Kamala Harris's presidential campaign on Friday, marking the most significant sign of the Vice President's rapid consolidation of her position within the Democratic Party.

ChainCatcher news, May 17, according to The Wall Street Journal, AI cloud computing startup CoreWeave, supported by Nvidia, has raised $7.5 billion from investors including Bain Capital, Carlyle Group, and BlackRock, making this financing one of the largest private debt financings in history.Two weeks ago, CoreWeave had just completed a round of $1.1 billion in equity financing, with a valuation of $19 billion. As of the end of last year, the company had 14 data centers and plans to double that number to 28 data centers by the end of this year.