NEWS: 🇺🇸 Treasury Secretary Scott Bessent says the declining share of the U.S. dollar in global foreign-exchange reserves is largely being driven by China and Russia.
His comments put renewed attention on the shifting composition of global reserves, as major economies continue to reshape their currency and financial strategies.
The trend remains an important signal for markets, particularly as investors assess the dollar’s long-term role in the global financial system.
JUST IN: 🇺🇸 White House crypto adviser @PatrickWitt is challenging the banking lobby’s position on the CLARITY Act, arguing that the bill’s failure could ultimately leave community banks without the protections they have been calling for.
Witt’s message puts pressure on lawmakers by framing the debate as a choice between advancing the legislation and potentially giving up the regulatory safeguards sought by smaller financial institutions.
With the CLARITY Act facing continued scrutiny in the Senate, the banking sector’s stance could become an increasingly important factor in determining whether the legislation moves forward.
@WatcherGuru They can’t even get legislation passed to end daylight saving time lol. With things moving this slowly, it’s hard to expect much progress on any of
@coinbureau Calling it a coin toss feels pretty generous. Republicans brushed aside the Democrats’ counteroffer on the day of the cloture vote, and I’ve never seen anyone get to 60 votes by telling the other side they haven’t moved an inch.
🚨 NEWS: Sky Protocol has completed its first $SKY token burn, permanently removing 2.86 million tokens from circulation. The burn was funded by 5% of the protocol’s monthly net surplus, establishing a recurring mechanism aimed at reducing the circulating supply over time.
The move marks the beginning of a broader token-burn strategy tied directly to the protocol’s financial performance. If sustained, the mechanism could gradually strengthen SKY scarcity while aligning token supply with the growth of the Sky ecosystem.
JUST IN: Standard Chartered has begun covering @Arbitrum’s $ARB, forecasting a potential rise from around $0.14 to $10 by 2030 as tokenized assets and the planned Robinhood chain could drive significant growth in network fees.