Here’s everything you may have missed from the crypto world.
US Senate Banking Committee Chair Tim Scott (R-SC) expressed optimism at the Wyoming Blockchain Symposium that Democrats will support the Digital Asset Market Clarity (CLARITY) Act.
This new bill is being built on the Guiding and Empowering Nation’s Innovation for US Stablecoins GENIUS Act.
The South Carolina senator expressed that he anticipates 12-18 Democratic votes, despite opposition, and has been reaching out to Democrats for broader backing.
Tim further added,
“I believe that we’ll have between 12 and 18 Democrats at least open to voting for market structure, a far more complicated piece of legislation, and the forces against it […] it is a real force to overcome.”
Tether Appointed Bo Hines In An Advisory Role
One of the largest stablecoin issuer, Tether has appointed Bo Hines, the former executive director of the White House Crypto Council.
According to a company announcement, Hines will be responsible for leading Tether’s US strategy and market expansion.
In his previous role within the Trump administration, Hines worked on digital asset innovation, stablecoin regulations, and fostering collaboration between the government and the blockchain industry.
In his new position, Hines will work with Tether’s leadership to build relationships with US policymakers and other key players in the industry.
Tether’s CEO, Paolo Ardoino, stated that Hines’ experience and knowledge of the legislative process will be a great asset as the company enters the US market.
Tether has already invested nearly $5 billion in the US economy, and the firm believes that hiring Hines will further strengthen its commitment to the US market.
Chamath Palihapitiya, Bitcoin Billionaire Files for $250 Million SPAC
Venture capitalist Chamath Palihapitiya, an early Bitcoin investor, is looking to raise $250 million for a new blank-check company called “American Exceptionalism Acquisition Corp A.
According to a recent filing with the U.S. Securities and Exchange Commission, Palihapitiya will serve as chairman, with Steven Trieu as CEO.
The new special purpose acquisition company (SPAC) plans to offer 25 million shares at $10 each on the New York Stock Exchange under the ticker AEXA.
The company will focus on bridging traditional finance with blockchain technology, believing that DeFi, rather than Bitcoin, will drive the next wave of financial innovation.
While the venture is ambitious, it comes with risks. Palihapitiya has had a mixed track record with SPACs in the past, with three previous attempts ending in liquidation.
