Author: Gabby

In a decisive move to uphold ethical standards, the U.S. Senate has voted to prohibit its members and staff from engaging with prediction markets. The resolution, passed unanimously on Thursday, amends the chamber’s standing rules and takes effect immediately. Senator Bernie Moreno, who spearheaded the initiative, emphasized that the ban is crucial to prevent the misuse of sensitive information for personal gain. He stated that no senator or staffer should be allowed to monetize their position through inside knowledge. This action follows growing concerns over incidents where individuals with access to classified data placed bets on platforms like Polymarket, including a recent case involving a special forces soldier charged with using confidential information to wager on the capture of a foreign leader. Senate Democratic leader Chuck Schumer described the rule change as a “no-brainer,” arguing that Congress must avoid turning into a casino where public representatives gamble on wars, economic crises, or elections. He called for extending similar restrictions to the executive branch. The House is expected to follow suit, with Representative Ashley Hinson announcing plans to introduce a comparable resolution. Prediction market operators, including Polymarket and Kalshi, have voiced support for the Senate action, noting that they already prohibit such conduct in their terms of service. This legislative move adds a new dimension to the ongoing regulatory debate over whether event contracts should be classified as financial products or gambling activities, as the CFTC continues to litigate against state actions targeting these markets.

XRP recently hovered around $1.38, marking a modest 1.11% increase over the past day, though the asset remained down nearly 3.9% for the week. With a trading volume of $1.55 billion and a market cap of $84.95 billion, investors are watching for signs of renewed momentum. The key price level to watch is $1.3930, which could determine short-term direction. Analysts emphasize that XRP must maintain critical support zones to prevent further declines.

Market commentator EGRAG Crypto highlights a rare setup called the “Blue Bridge,” a macro support line that has triggered similar reactions in 2018, 2021, and 2026. After each touch, XRP historically saw a 71% move, though this remains a theoretical projection rather than a guarantee. EGRAG Crypto noted that price behavior often precedes fundamental news, reinforcing the importance of technical structure.

Another analyst, Cryptoinsightuk, observes that XRP is still trading within a bull flag pattern, with both the weekly RSI and MACD turning bullish. This pattern mirrors the last major upside cycle. However, confirmation through price action is still needed. Trader CryptoWZRD added that XRP closed indecisively on the daily chart, stating that above $1.3930 signals positive territory, while a break below could lead to increased weakness.

Beyond the charts, Ripple’s ongoing business expansion provides a supportive backdrop. The company is reportedly partnering with Kbank in Korea to develop institutional-grade wallet infrastructure, targeting regulated digital asset services. Additionally, Ripple has opened a new regional headquarters in Dubai’s DIFC, signaling confidence in the Middle East and Africa as a blockchain hub. These institutional moves add context to the demand for XRP, though traders remain focused on the price action and key levels.

In a notable shift across Latin America, stablecoins have overtaken Bitcoin in transaction volume for the first time, according to Bitso’s latest report. The exchange’s data reveals that dollar-pegged tokens like Tether’s USDt and Circle’s USDC made up 40% of all crypto purchases on its platform in 2025, while Bitcoin trailed at 18%. This milestone underscores a growing preference for digital dollarization among users in economies plagued by high inflation and limited banking access.

Nearly 10 million retail customers drove this trend, turning to stablecoins for storing value, making payments, and facilitating cross-border remittances. The appeal lies in the U.S. dollar’s relative stability compared to local currencies, even amid global inflation concerns. Bitso’s report highlights that despite Bitcoin’s reduced purchase share, it remains a cornerstone in portfolios—appearing in 52% of holdings in 2025, down slightly from 53% the year prior. The exchange still views Bitcoin as the region’s primary long-term store of value, even as short-term activity leans toward stablecoins.

The broader stablecoin market has swelled to around $320 billion, reflecting adoption across emerging and developed markets. Regional developments, such as Mercado Libre’s cross-border remittance service using its Meli dollar stablecoin, further illustrate the shift. While Bitcoin’s price has been volatile—peaking above $126,000 in October before dropping to the low $60,000s—its fixed supply and decentralized nature continue to position it alongside gold in long-term value preservation frameworks, as noted by MarketVector research.

Bakkt has finalized its merger with Distributed Technologies Research, a company specializing in stablecoin payment infrastructure. The acquisition marks a strategic pivot for Bakkt as it integrates DTR’s agentic payment technology and compliance tools into its regulated institutional platform.

The combined entity aims to create a round-the-clock digital settlement layer powered by stablecoins. This move is designed to reduce dependency on traditional correspondent banking networks, offering financial institutions and fintechs faster digital payment solutions. Bakkt CEO Akshay Naheta emphasized that the architecture of money movement rarely undergoes such a transformation, positioning stablecoin functionality as a bridge between conventional finance and digital assets.

To complete the acquisition, Bakkt issued over 11.3 million Class A common shares to DTR’s beneficial owners. An additional 725,592 shares may be issued related to outstanding warrants. The deal was initially announced in January with 9.3 million shares, and Bakkt also underwent a corporate name change to Bakkt Inc. during that period.

Following the closure, Bakkt’s stock price experienced volatility. Shares dropped roughly 8% to $7.86 before the deal’s completion but later recovered to $8.62 by Thursday’s market close. The company has faced financial hurdles in recent years, including a warning from the NYSE in 2024 about potential delisting after its share price remained below $1 for 30 consecutive days.

Founded in 2018 and majority-owned by Intercontinental Exchange, Bakkt has previously partnered with major brands like Starbucks and Mastercard. With the DTR acquisition now complete, stablecoin payments are at the core of Bakkt’s growth strategy, signaling a renewed focus on modernizing payment infrastructure.

Tether-supported crypto payment platform Oobit has announced the launch of a virtual Visa card designed to enable artificial intelligence agents to autonomously spend USDT without human intervention. The newly introduced Agent Cards draw funds directly from Tether’s reserves, eliminating the need for conversion to fiat currency or traditional on-ramp processes.

According to Oobit, these cards allow automated payments for various online services, including subscription renewals, advertising campaigns, and cloud infrastructure usage, triggered by predefined workflows. Each card is uniquely assigned to a specific AI agent, providing traceable identity and a clear audit trail for every transaction.

Spending limits and merchant restrictions are enforced at the transaction level after businesses pass know-your-business (KYB) compliance checks, ensuring activity remains within approved boundaries. The system also integrates with major AI frameworks such as OpenAI, Claude, AutoGen, and LangChain, enabling enterprises to deploy agents that can execute operational tasks without manual oversight.

Oobit advisor Alex Obchakevich suggested that these agents could eventually expand beyond payments to include activities like trading cryptocurrencies and stocks. The company has issued Agent Cards to an initial group of businesses, with broader onboarding expected to expand gradually through June 30, pending usage evaluation and compliance requirements.

Industry leaders have increasingly highlighted the potential of AI agents in digital payments. Brian Armstrong predicted that AI agents conducting online transactions will soon outnumber humans, while Jeremy Allaire forecasted billions of AI agents transacting on-chain within three to five years. Oobit echoed this sentiment, stating that the next trillion internet users will be AI-driven systems.

This development builds on Oobit’s earlier efforts to bridge crypto wallets with traditional payment networks. In January, the company added support for Phantom Wallet, connecting Solana-based assets to Visa’s infrastructure and enabling users to spend digital assets at over 80 million merchants through its DePay system, which converts crypto to fiat at checkout.

Japanese financial giant SBI Holdings has initiated formal negotiations with Bitbank for a capital and business partnership. The deal aims to turn Bitbank into a fully owned subsidiary of SBI, marking a major step in the country’s crypto exchange consolidation.

SBI plans to purchase shares following due diligence and board approval, with specifics about timing and structure to be decided later. This move comes just months after SBI VC Trade merged with Bitpoint Japan in April 2026.

The acquisition talks reflect SBI’s aggressive push to strengthen its crypto exchange portfolio. Japan is simultaneously reassessing crypto asset classification under its Financial Instruments and Exchange Act, which could lead to stricter regulations for exchanges and investment products.

Bitbank had previously aimed for a Tokyo Stock Exchange listing by mid-2025 and raised roughly 7 billion yen through a partnership with Mixi in 2021. Mixi currently holds a 26.2% stake in Bitbank, and the SBI proposal may alter the exchange’s ownership structure and listing plans.

Aside from its exchange operations, Bitbank has been expanding crypto payment services. It recently launched the EPOS Crypto Card with EPOS Card, a fintech arm of Marui Group. The card enables users to pay monthly credit card bills with Bitcoin held on Bitbank and offers 0.5% cashback in Bitcoin, Ether, or Aster. Bitbank claims this is Japan’s first card allowing direct crypto settlement from an exchange balance, with plans to add more digital assets later.

If the SBI deal goes through, it would merge Bitbank’s established brand and payment innovations with SBI’s extensive financial network. Bitbank has a strong security record, reporting zero hacking incidents since its inception, which could make it an attractive acquisition target for a larger financial conglomerate.

To tackle persistent narratives about Bitcoin’s environmental footprint, a Nordic education collective has introduced an open-source AI-driven database. This tool is designed to provide evidence-based rebuttals to common critiques regarding Bitcoin’s energy consumption and ecological impact.

Called “The Bitcoin Evidence Base,” this resource draws on over 22 peer-reviewed studies and references Cambridge research indicating that more than 52% of Bitcoin mining relies on renewable sources. The group behind the initiative, Bitcoin Beyond 66, highlights that while academic literature on Bitcoin mining is expanding, public discourse often lags behind outdated or incomplete information.

Users can submit a claim or link and receive a structured response rooted in published research, energy data, and industry reports. The platform aims to bridge the gap between complex research and real-time online discussions, where quick, credible answers are essential. It also notes that Bitcoin mining’s renewable energy share exceeds that of the traditional banking system, and that numerous studies document its role in harnessing stranded or excess energy.

The system incorporates a communication strategy inspired by environmental advocate Daniel Batten, blending factual corrections with a tone that prioritizes constructive dialogue. Users can select from direct, balanced, or softer response styles depending on the conversation context. The group emphasizes that confrontational approaches often backfire, while acknowledging past concerns and presenting new data fosters engagement.

As global institutions like the United Nations scrutinize Bitcoin’s energy use, the database offers a timely resource. Batten’s research suggests Bitcoin mining’s carbon footprint is decreasing as cleaner energy sources gain share. To keep the database current, contributors can submit new research for vetting, ensuring the tool evolves alongside emerging data.