Whale inflows hit Binance, creating tension with bullish trader positioning.
Sen. Cynthia Lummis said US lawmakers are actively exploring how Bitcoin can be used for everyday payments without automatically triggering capital gains tax, framing the issue as a key obstacle to treating the asset as a true medium of exchange. Speaking on CNBC’s Squawk Box on March 5, the Wyoming Republican said discussions are underway in both the House and Senate around a potential de minimis exemption, with the figure currently being considered landing “right around $300.” Congress Eyes Tax-Free Bitcoin Payments Lummis described that threshold as only part of the broader tax problem. The bigger question, she suggested, is not simply where to set a small-transaction exemption, but how Congress should distinguish between a disposal of Bitcoin as an investment asset and the use of Bitcoin as money. “It’s called the de minimis exemption . And the number that is being looked at by House Ways and Means and Senate Finance is right around $300 as a de minimis exemption,” Lummis said, and added: “But the challenge is trying to figure out how you can use Bitcoin as a means of exchange without paying a capital gains tax on it. So we’re trying to figure out how to weigh the appropriate way to decide when a sale of, for example, a Bitcoin should be subject to capital gains and when it should be allowed to be used as a simple means of exchange. The same way we use the US dollar.” That distinction matters. Under the current framework, spending appreciated Bitcoin can create a taxable event, even when the transaction looks economically similar to an ordinary purchase made in dollars. For crypto advocates, that has long been one of the main reasons Bitcoin has struggled to function cleanly as a payments rail in the US, despite its growing acceptance as a store of value and institutional asset. The exchange on CNBC made clear that Lummis sees the issue less as a niche crypto tax tweak and more as a structural inconsistency in how digital assets are treated. When host Joe Kernen joked that, by similar logic, consumers should be able to claim capital losses as the dollar steadily loses purchasing power, Lummis agreed and leaned into the comparison. “It’s right because it’s by design the US dollar loses value at 2% or more every year,” she said. “So you’re right. If we did the same thing with the US dollar, all taxpayers would be getting a capital loss annually.”However, Lummis did not outline a final legislative path, and she did not claim consensus has been reached. At press time, Bitcoin traded at $70,786.
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Negotiations around stablecoin yield provisions are progressing as lawmakers prepare for a potential Senate Banking Committee markup of the Clarity Act. The White House recently shared updated legislative text with Senator Thom Tillis’s office. Meetings between Tillis, industry representatives, and administration officials have taken place in recent days. Sources familiar with the discussions described the talks to Eleanor Terett as “moving in the right direction.” Tillis had previously been viewed as a possible holdout during earlier markup preparations. Amendments he co-sponsored with Senator Angela Alsobrooks sought to restrict the scope of stablecoin rewards issued by crypto firms. Coinbase later cited those amendments as one reason it withdrew support for the bill. Industry groups now say revised language is being drafted to reach a compromise that both banks and crypto firms can accept. Digital Chamber CEO Cody Carbone said, “Sen. Tillis has been very receptive to our discussions about stablecoin yield.” He added that he remains optimistic about securing a “yes” vote. Public Debate on X Reflects Broader Market Structure Tensions The yield discussion has also drawn attention on X, where commentators framed it as a larger battle over digital dollar control. One widely shared post stated, “Notice how the entire debate keeps circling back to stablecoin yield. Because yield determines who captures the value of digital dollars. Banks want deposits. Crypto wants programmable money. That’s the real market structure battle.” That comment reflects concerns that yield rules may define how stablecoins compete with traditional banking products. Industry sources said the yield issue has “taken a lot of oxygen out of the room,” leaving other parts of the bill, including DeFi provisions, with less focus. A DeFi participant involved in negotiations said some Senate Democrats are now working to resolve remaining matters tied to decentralized platforms and ethics standards. However, yield remains the central sticking point ahead of any committee vote. Political Friction Adds Pressure to Clarity Act Timeline Former White House communications director Anthony Scaramucci said political divisions are slowing legislative progress. During a webinar on March 4, he said crypto has become “too politicized” and that this dynamic affects the Clarity Act’s movement. Scaramucci attributed part of the slowdown to President Donald Trump’s crypto ventures and public behavior. He stated that the President’s actions “slowed down the legislative and the regulatory process.” He also said that partisan tensions may cause some lawmakers to resist giving the administration a legislative win. Despite this, Scaramucci predicted that Bitcoin could reach $100,000 by the end of 2026 if the Clarity Act passes. He urged investors to treat digital assets as long-term holdings. Industry Leaders Push for Progress Before March Window As the Coinpaper reported, Ripple CEO Brad Garlinghouse has also recently commented on the debate after President Trump urged lawmakers to act. Garlinghouse described the message as directed at those delaying the bill and said the measure concerns what is “in the best interest of the American people.” Even if Democrats withhold support, the Clarity Act could advance along party lines in committee. However, Senator Tillis’s position remains critical if bipartisan backing does not materialize. Industry representatives said the next three weeks will be important for resolving stablecoin reward language and related issues. If progress continues, the Senate Banking Committee could reschedule a markup later in March.
Shiba Inu (SHIB) continues to struggle as the memecoin trades under pressure despite a broader recovery in the cryptocurrency market. At the time of writing, Shiba Inu was trading at about $0.00000549, after a decline of roughly 2.9% over the past 24 hours. Shiba Inu has dropped about 6.2% in the past week, while losses extend to 12.5% over the last two weeks. Notably, the price has been moving within a narrow daily range between $0.000005454 and $0.000005661, showing that traders remain cautious. SHIB burn activity stalls for two consecutive days One development that has caught the attention of the community is the sudden slowdown in the Shiba Inu burn rate. Source: Shibburn The burn mechanism is designed to reduce the token supply by sending coins to inaccessible wallets where they cannot be spent again. This process is often viewed by supporters as a way to gradually increase scarcity and potentially support the price over time. However, recent data shows that the burn rate has been stuck at zero for two consecutive days. This means no measurable reduction in supply has been recorded during that period. Even though some small transfers to burn addresses were reported, the amounts were too small to move the official burn metric. Earlier in the week, the burn rate briefly surged by an extremely large percentage. That spike appeared dramatic at first glance, but ultimately represented less than one million tokens removed from circulation. Such fluctuations highlight how inconsistent burn activity can be in the Shiba Inu ecosystem. Periods of sudden spikes are often followed by days where little or no burning takes place. For traders, the lack of meaningful burn activity removes one of the narratives that occasionally fuels short-term optimism, and the market focus shifts back to technical indicators and broader crypto sentiment . Weak momentum keeps SHIB in a downward channel Shiba Inu’s price structure suggests that the asset is still moving inside a broader bearish trend. The coin remains far below its all-time high of $0.00008616, which was reached during the height of the meme coin rally in October 2021. That peak now serves as a reminder of how much value the token has lost during the prolonged market correction. Over the past few weeks, the memecoin has attempted several rebounds, but each rebound attempt has been relatively small and quickly met with selling pressure. This pattern often signals that the market lacks strong bullish conviction. Trading activity has also remained relatively muted, which typically occurs when investors prefer to wait for clearer signals before committing capital. Shiba Inu price forecast For now, Shiba Inu appears to be stuck in a consolidation phase within a broader downtrend, and such phases can last for extended periods before a decisive breakout occurs. Focus is currently on a key support level around $0.0000054, which the price is hovering close to. If the token manages to hold this support zone, it could attempt a gradual recovery. In case of a recovery, then traders should keep their eyes on the resistance near $0.0000068. A breakout above this resistance could then push the price toward the $0.00001 psychological level and beyond that point, additional resistance levels appear around $0.000013, $0.000016, and $0.000022. A sustained rally could eventually target the $0.000033 region, which some analysts view as a potential long-term upside zone. On the downside, a clear breakdown below $0.0000054 would likely reinforce the bearish trend. Such a move could trigger further selling as traders reassess the strength of the current support structure. The post Shiba Inu price stuck in bearish trend amid two days of zero SHIB burns appeared first on Invezz
The U.S. Securities and Exchange Commission (SEC) moved Wednesday to settle its high-profile enforcement case against Justin Sun and his affiliated companies, proposing a $10 million civil penalty. If approved by a federal judge, the judgment would dismiss all remaining claims against the TRON founder with prejudice, marking a decisive end to the years-long legal battle. Key Takeaways: Settlement Terms: Rainberry Inc. agrees to a $10 million penalty and an injunction against deceptive practices without admitting wrongdoing. Case Dismissal: All claims against Justin Sun, the Tron Foundation, and the BitTorrent Foundation will be dismissed with prejudice. Regulatory Signal: The deal represents a significant de-escalation by the SEC following recent leadership changes and industry pushback. Discover: The best meme coins on Solana SEC Deal: A $10 Million Resolution to Years of Litigation According to a proposed final judgment filed yesterday in the U.S. District Court for the Southern District of New York, Rainberry Inc., the company behind the BitTorrent protocol, will pay the $10 million civil penalty. The company also agreed to a permanent injunction barring it from violating anti-fraud provisions in future securities offerings. Crucially, Rainberry accepted the settlement without admitting or denying the SEC’s allegations. In exchange for this penalty, the SEC agreed to dismiss all outstanding claims against Sun personally, as well as the Tron Foundation and BitTorrent Foundation. The dismissal is “with prejudice,” meaning the regulator cannot refile these specific charges against Sun or his foundations in the future. The agreement effectively clears Sun’s personal liability in the matter. Sun confirmed the development on social media on today. In a statement on X, he noted that the resolution “brings closure” and declared his intention to focus on “accelerating innovation in the U.S. and around the world.” I am very pleased to confirm that the SEC has moved to dismiss all claims against me, Tron Foundation, and BitTorrent Foundation. Today’s resolution brings closure, but I never stopped building. I will continue to focus on accelerating innovation in the United States and around… — H.E. Justin Sun (@justinsuntron) March 5, 2026 Context: From Celebrity Charges to Political Pivots The SEC originally sued Sun in March 2023, alleging the unregistered sale of TRX and BTT tokens. The regulator’s complaint was extensive, accusing Sun of directing wash trading to artificially inflate TRX volumes and orchestrating undisclosed payments to celebrities like Lindsay Lohan and Jake Paul for promotion. Six of those celebrities settled in 2024 for roughly $400,000 combined. This settlement arrives amid a broader shift in SEC enforcement strategy following the presidential inauguration. Today, the SEC has moved to dismiss all claims against BitTorrent Foundation. We are pleased to resolve this matter and move forward. A new era of support for innovation is just beginning and today’s resolution is an encouraging step for the future of innovation in the United… — BitTorrent (@BitTorrent) March 6, 2026 Democratic lawmakers, including Rep. Maxine Waters, criticized the move in a recent letter , suggesting the agency is retreating from crypto enforcement cases involving figures with political connections. Sun reportedly invested heavily in World Liberty Financial tokens and attended events associated with the new administration prior to this resolution. What the Justin Sun Case Says About the SEC Now The $10 million figure is relatively modest compared to the billions sought in other recent crypto cases. It signals that the current SEC is prioritizing case clearance over maximum punitive damages, a sharp departure from the “regulation by enforcement” era of 2023. This shift aligns accordingly with a maturing market structure. As recently discussed on Cryptonews , the biggest winners of the next cycle may be the most regulated entities that successfully navigate the government’s requirements. If this pragmatic approach continues, expect other stalled enforcement actions to resolve quickly in the coming months, likely with similar “no admission of guilt” structures. Discover: The next crypto to explode! The post SEC Moves to Settle Justin Sun of Tron Case With $10M Penalty appeared first on Cryptonews .
As we enter the seventh day of the US/Israel – Iran conflict that has now spiralled into a broader regional conflict, energy supply, and more specifically, the price of oil is back in focus. On March 5, Iran struck a U.S. oil tanker close to Kuwait and Bahrain’s largest oil refinery, BAPCO, was also targeted. These escalations and attacks have severely disrupted shipping through the Strait of Hormuz, a critical passageway that accounts for 20% of global oil supply. As shipping traffic is down over 90% over the past week, uncertainty around how long these disruptions could last has resulted in oil prices rising close to 20% since the start of the conflict, while gas prices in the U.S. now sitting at around $3.32 per gallon, up 30 cents in a single week. President Donald Trump’s response was blunt at first stating that “if they rise, they rise” to Reuters and ruled out the possibility of tapping into the Strategic Petroleum Reserve. Yet within hours, Washington made a move that would have been unthinkable a couple of months ago by issuing a 30-day waiver allowing India to purchase Russian oil already stranded at sea in order to keep global supply flowing. This move was a clear signal that policymakers are worried about how quickly the current energy shock could spiral into a full blown inflation crisis. That inflation chain is what will ultimately shape Bitcoin’s next move. Since the attacks transpired on February 28, Bitcoin has actually held up well, trading roughly 10% higher and reaching a high of $74K on March 4. According to data from SoSo Value , Spot ETF net flows since the start of the conflict have actually been net positive of about $917 million. At the same time, markets saw a large volume of short liquidations on March 4 with over $470 million short positions wiped out. Now while this geopolitical shock might have brought attention back to Bitcoin’s “digital gold” thesis and a means for capital flight, the same conflict is also pushing oil prices higher, keeping inflation elevated and limiting how fast the Federal Reserve can cut rates. With markets pricing a near-certain hold at the current 3.5% – 3.75% policy range, the conflict has created a paradox: the geopolitical shock helping Bitcoin rally may also be the exact force that caps how far the rally can go. Oil at $85, Gas up 27 Cents, and Trump Won’t Tap the SPR Energy markets have been one of the first places where the economic fallout of the conflict is being felt. Brent crude closed yesterday at $85.41 rising 4.93% on the day after Iran said it struck an American oil tanker in the Persian Gulf. At the same time, U.S. benchmark WTI rose 8.51% to $81.01, its highest level since July 2024. The uncertainty around the Strait of Hormuz and the global supply of oil is already having a direct impact on gasoline prices in the United States. AAA has reported that the national average gasoline price in the United States is up 30 cents in a single week and now averaging at around $3.32 per gallon. Despite the sharp increase in gas prices today, President Donald Trump stated that the administration had no intentions of tapping into the Strategic Petroleum Reserve (SPR). In an interview with Reuters on March 5, Trump said gas prices would likely fall once the conflict ends, adding, “if they rise, they rise”, while emphasizing that ensuring security in the region and keeping the Strait of Hormuz open was the utmost priority. The situation on the ground, however, remains extremely fragile. Multiple tankers near the passageway have already been targeted with strikes and Iran’s Revolutionary Guard has warned that unauthorized vessels entering the region run the risk of becoming “legitimate targets”. With commercial shipping through the passage effectively paused, analysts warn that if the disruption continues, oil prices could continue climbing, potentially pushing Brent crude toward triple-digit levels and reviving the kind of inflation shock last seen in 2022. The U.S. Just Eased Russia Sanctions – Because the Oil Crisis Is That Bad On March 5, the U.S. Treasury’s Office of Foreign Assets Control (OFAC) issued General License 133, a 30-day waiver from March 5 to April 4 that allows Indian refiners to receive Russian crude that had already been loaded onto vessels before the cutoff date. This authorization covers the complete set of maritime services needed to complete those deliveries to Indian ports which include sale, delivery, offloading, bunkering, crewing, insurance and port services. Treasury Secretary Scott Bessent was quick to address the measure as a short term step to prevent oil stranded at sea from disappearing from global markets and emphasized that it would “not provide significant financial benefit” to Russia because the waiver only applies to cargoes already in transit. President Trump’s energy agenda has resulted in oil and gas production reaching the highest levels ever recorded. To enable oil to keep flowing into the global market, the Treasury Department is issuing a temporary 30-day waiver to allow Indian refiners to purchase Russian oil.… — Treasury Secretary Scott Bessent (@SecScottBessent) March 6, 2026 The broader context actually makes the move significant. In 2025, India accounted for around one-third of Russia’s seaborne oil shipments. That said, these figures have already fallen sharply by around 34% YoY in January-early February 2026 due to sanctions. By allowing those shipments to be delivered, Washington has effectively shown how severe the current supply shock has become. In a matter of one week, the conflict has already disrupted a significant portion of energy flows across the globe. This has prompted policymakers to prioritize keeping oil moving, even if that means temporarily loosening restrictions on a geopolitical rival. The Fed is Trapped – 97.3% Chance of No Rate Cut While Inflation Climbs Rising energy prices are now placing inflation expectations and monetary policy forecasts back into the fray as well. According to the CME FedWatch tool, the probability of the Federal Reserve holding interest rates steady at 3.5% – 3.75% at the next FOMC meeting set for March 18 is at 97.3%. This means the chance of a rate cut is practically off the table while inflation remains sticky at 3%, above the central bank’s goal of 2%. Apart from this, the producer price index is also showing pressure with core PPI rising 0.8% month over month and 3.6% year over year in January, higher than expectations. Increasing oil prices now adds a completely different dynamic for policymakers to grapple with as a persistent energy shock could push inflation higher and ultimately push back any chances of a looser monetary policy. The chain reaction is easy to understand: higher oil prices push up the cost of gas, which in turn raises transportation and goods costs, which then feeds into adding pressure to headline inflation. Historically, every $10 increase in crude oil prices has resulted in a roughly 25 cent rise at the pump. This means if oil prices continue to go up for longer, this could very well quickly spill into consumer inflation. There is, however, a competing thesis within the crypto market. BitMEX co-founder Arthur Hayes has argued that nearly every major U.S. military conflict in the Middle East since the 1980s has eventually been followed by rate cuts and liquidity expansion, as economic damage forces policymakers to intervene. In his view, the war itself is not the trigger, the trigger is the slowdown it eventually causes. Hayes believes that if the conflict meaningfully weakens economic growth, the Federal Reserve could ultimately be forced to loosen policy again, potentially driving Bitcoin toward a $500,000–$750,000 long-term price range. For now, however, the immediate focus is on the March 18 FOMC meeting, where markets expect the Fed to hold rates steady while watching closely for any signals about when, or if, the first rate cuts might arrive. What This Means for Bitcoin at Its Make-or-Break Resistance Bitcoin’s rally over the past week has been commendable given the circumstances, but it now sits at a critical technical market structure. After initially falling to a low of $63K as the news broke out on February 28, the asset rebounded sharply and climbed to a high of $74.1K, representing a 17% rise from lows to highs. Spot ETF inflows and short squeeze dynamics in derivatives markets have helped push prices higher in recent days. However, since reaching the $74K region however, Bitcoin has retraced by around 4.5% back into the mid $70K region. So far, the price action reinforces the fact that the $73-74K region remains to be a key resistance area to overcome. For context, this is a region that marked a local low in April last year which has now flipped into resistance. If the geopolitical shock eventually leads to economic damage severe enough to force the Federal Reserve into rate cuts, the thesis promoted by macro investors like Arthur Hayes, Bitcoin could be positioned for a much larger breakout. The bearish case, however, is just as clear. Rising oil prices and the inflation pressure they create could keep the Federal Reserve on hold for longer, limiting liquidity for risk assets. Some analysts have argued that the recent move was likely triggered by short positioning rather than institutional buying. For instance, Mark Connors of Risk Dimensions described the rally as “clearly a flushing of shorts”. Market makers are also signalling caution. Derivatives firm Enflux says “the market is not pricing catastrophe, but it is not pricing resolution either. So far, this sentiment seems to be an accurate assessment based on BTC’s recent price action. The failure to reclaim the key $74K region on the daily timeframe suggests that the market remains locked in the same macro tug of war between geopolitics, inflation and liquidity.
Brent crude has shattered records at $89.23 per barrel, a 4.5% daily surge and 18% weekly gain, as the US-Iran conflict paralyzes the Strait of Hormuz for its eighth straight day. WTI rocketed 6.3% to $86.06, the highest since April 2024. This marks Brent's biggest weekly jump since Russia's 2022 Ukraine invasion, driven by total tanker traffic halt through the 20% global oil chokepoint. Hormuz Nightmare Triggers Supply Apocalypse Iran's retaliation, including drone strikes on tankers, Azerbaijan, and a US submarine has grounded shipping, with five vessels hit and insurers pulling coverage entirely. Qatar warns $150/barrel if Saudi/UAE output stops; Iraq slashed production while Qatar halted 20% of world LNG at Ras Laffan. Aramco reroutes desperately as force majeure looms across Gulf producers. Goldman Sachs now forecasts Q2 Brent at $76 (up $10); full Hormuz closure models $108 (+80%), tails to $130+. Barclays eyes $100 by Monday if escalation holds. Crypto & Stocks Crushed by Oil Shockwave $89 Brent oil surge ripples brutally: Kospi -12%, S&P futures -2%, Nasdaq -2.15%. Bitcoin plunged to $70,500 before partial recovery; Exxon rallies +3% as energy shines. European TTF gas leaped 48% to 47 EUR/MWh; US gasoline hits $3.25/gallon (+27¢ weekly). OPEC+ adds just 206K bpd, meaningless against Hormuz's 21M bpd loss. Defense Sec. Hegseth: ”Iran misjudged our resolve.” What's Next in the Oil Inferno? US escorts could ease Brent to $80-85; prolonged war screams $100+. This Hormuz crisis breaking markets isn't just oil news, it's the macro earthquake slamming crypto, stocks, and inflation worldwide.
The SEC will discuss options market reforms as crypto ETF volume and influence rapidly increase. Potential rule changes could reshape competition, volatility, and retail participation in Bitcoin derivatives. Continue Reading: SEC Sets Stage for Options Market Overhaul as Bitcoin ETF Volumes Surge The post SEC Sets Stage for Options Market Overhaul as Bitcoin ETF Volumes Surge appeared first on COINTURK NEWS .