Crypto World
BPI Eyes August BTC Tax Relief as Deadline Looms
The Bitcoin Policy Institute (BPI), an industry advocacy group, is eyeing a target window between March and August 2026 to pass a de minimis tax exemption for Bitcoin through Congress, warning that time to pass meaningful legislation is running out.
BPI said it has engaged with 19 Congressional offices in both the House and Senate over the last three months to pitch US lawmakers on a tax exemption for Bitcoin (BTC) transactions below a certain threshold.
Expanding the de minimis tax exemptions beyond dollar-pegged stablecoins has bipartisan support, but the BPI warned that the “window is narrowing” for Bitcoin tax legislation. The BPI said:
“Congress will be increasingly consumed by midterm dynamics as summer approaches, and the bandwidth for complex tax legislation shrinks with every passing week. Senator Lummis, the issue’s most forceful champion, departs the Senate in January 2027.
If a package does not come together in the next few months, the opportunity may not return for years,” the BPI continued.
Under current US tax rules, using BTC to pay for goods and services triggers a taxable event and tax reporting to the Internal Revenue Service (IRS), preventing the use of Bitcoin as a medium of exchange.
A de minimis exemption would allow small crypto transactions, typically below a set dollar threshold, to be excluded from capital gains reporting, allowing users to spend Bitcoin without calculating gains or losses on minor purchases.
Related: Bitcoin advocate group to fight Basel’s ‘toxic’ treatment of cryptocurrency
Tax policy has kept Bitcoin as an investment and out of commerce
Wyoming Senator Cynthia Lummis introduced a bill in July 2025 proposing a de minimis tax exemptionfor cryptocurrency transactions of $300 or less, capped at $5,000 annually.
However, the bill failed to gain traction in the Senate, and a competing bill focused entirely on tax exemptions for stablecoins was introduced to the House of Representatives by Congresspersons Max Miller and Steven Horsford in 2025.
A comparison of the Lummis standalone crypto tax bill and the stablecoin de minimis tax bill.
Bitcoin payments are held back by the digital asset’s current treatment under the US tax code, according to Pierre Rochard, a board member for BTC treasury company Strive. “The number one impediment to Bitcoin payments adoption is tax policy, not scaling technology,” Rochard @said on X.
Magazine: Big questions: Should you sell your Bitcoin for nickels for a 43% profit?
1) Introduction
The Bitcoin Policy Institute is pushing for a de minimis tax exemption for Bitcoin transactions, targeting a window from March to August 2026 to move a measure through Congress. The group highlights that time is running short as lawmakers grapple with competing priorities ahead of midterm dynamics. In the past three months, BPI says it has engaged with 19 offices across the House and Senate to advocate for a carve-out allowing BTC transfers below a defined threshold to avoid capital gains reporting. While there is bipartisan interest in extending de minimis relief beyond dollar-pegged stablecoins, observers warn that the window to legislate could close swiftly, especially with Senator Lummis set to depart the Senate in January 2027. The push centers on changing how small Bitcoin transactions are treated for tax purposes, potentially unlocking greater everyday use without tax accounting for minor expenditures.
2)
Key takeaways
- The stated legislative window for a Bitcoin de minimis tax exemption runs March through August 2026, a period proponents describe as the last best chance to pass meaningful tax relief before midterms shift congressional priorities.
- nineteen congressional offices across the House and Senate report engagement by the Bitcoin Policy Institute over a three‑month period, underscoring active lobbying for a BTC-focused exemption and broader expansion beyond stablecoins.
- Senate sponsor Senator Cynthia Lummis pushed a standalone crypto tax bill in July 2025 proposing a de minimis threshold of $300 per transaction, capped at $5,000 annually, but the measure stalled in the Senate.
- In parallel, a House-friendly proposal by Max Miller and Steven Horsford in 2025 aimed to deliver de minimis relief specifically for stablecoins, reflecting a split focus within crypto tax policy debates.
- The central argument stresses that current tax treatment has effectively kept Bitcoin as an investment vehicle rather than a practical medium of exchange, with advocates positioning tax policy as the primary bottleneck to broader adoption.
3)
Tickers mentioned: $BTC
4)
Market context: The push for a Bitcoin de minimis exemption sits within a broader regulatory and policy environment where tax treatment shapes crypto payments and consumer spending. If Congress acts, small BTC transactions could flow more freely in everyday commerce, while inaction risks maintaining a framework that treats Bitcoin primarily as an asset rather than an everyday currency.
5)
Why it matters
The ongoing debate over de minimis tax treatment matters because it shapes how readily individuals can use Bitcoin for routine purchases. A successful exemption would reduce the administrative burden for ordinary consumers who transact in small amounts, potentially expanding merchant acceptance and consumer spending in the crypto space. Advocates argue that tax policy, not technology, has been the primary obstacle to widespread BTC payments adoption, a claim echoed by industry voices who emphasize the upside of aligning tax rules with the realities of digital asset use.
Yet lawmakers face a crowded legislative calendar. The BPI’s warning that the window could close as summer approaches reflects a structural challenge: tax policy is entangled with midterm dynamics, budget considerations, and broader regulatory debates. The political calculus is further complicated by aging leadership in the crypto policy arena; Senator Lummis, a leading proponent, will exit the Senate in early 2027, potentially narrowing the coalition that has championed a de minimis approach to crypto taxation.
Supporters argue that a targeted exemption for small BTC transactions would not only ease everyday spending but also set a clearer precedent for how digital assets should be treated when used as currency rather than solely as investments. The tension remains: should policy favor incremental relief that could unlock practical use cases, or push for comprehensive tax reform that addresses all digital assets at once? The next several months are likely to reveal how aggressively Congress will pursue a path forward and which constituencies—consumer advocates, merchants, or financial policy wonks—will shape the outcome.
6)
What to watch next
- March–August 2026: Legislative activity window for Bitcoin de minimis tax exemption moves through committees and potentially a full vote.
- Ongoing congressional engagement: The Bitcoin Policy Institute’s continued outreach to 19 offices to secure support and build a bipartisan coalition.
- Senator Lummis’s departure in January 2027: Assess how the leadership changes might affect the likelihood of enacting any BTC-specific tax relief.
- Comparison of bills: The trajectory of Miller–Horsford’s stablecoins-focused exemption versus the Lummis standalone crypto tax bill will influence the final framework if a package advances.
- Public-facing tax policy messaging: Watch for statements from tax authorities and industry groups clarifying how a de minimis exemption would interact with existing reporting requirements for small BTC transactions.
7)
Sources & verification
- Bitcoin Policy Institute article outlining the de minimis exemption for Bitcoin and the policy window.
- Cointelegraph reporting on the Bitcoin Policy Institute’s de minimis tax exemption push and related legislative activity.
- July 2025 Lummis proposal for a standalone crypto tax exemption with a $300 threshold and $5,000 annual cap.
- 2025 Miller and Horsford House proposal extending de minimis relief to stablecoins.
- Statements from Pierre Rochard about tax policy as the principal barrier to Bitcoin payments adoption.
7)
Why it matters
This policy debate matters because it could redefine how everyday users interact with Bitcoin, moving it from a speculative asset toward a practical currency for small purchases. If enacted, the de minimis exemption would reduce tax complexity for minor BTC transactions, potentially spurring broader acceptance by merchants and consumers alike. The timing of any agreement is critical, given midterm dynamics and the leadership shift anticipated in early 2027, which could alter legislative momentum for crypto tax reform.
At stake is whether policymakers view Bitcoin as a financial instrument warranting strict capital gains considerations or as a platform for everyday commerce needing pragmatic, policy-aligned rules. The discourse reflects broader questions about how the U.S. tax code should treat digital assets as their use cases evolve—from store of value to medium of exchange—and how to balance investor protection with practical adoption. The coming months will test whether a narrowly tailored exemption can bridge these aims without creating new loopholes or regulatory gaps.
9)
What to watch next
- March–August 2026: Legislative activity window for Bitcoin de minimis tax exemption moves through committees and potentially a full vote.
- Ongoing congressional engagement: The Bitcoin Policy Institute’s continued outreach to 19 offices to secure support and build a bipartisan coalition.
- Senator Lummis’s departure in January 2027: Assess how the leadership changes might affect the likelihood of enacting any BTC-specific tax relief.
- Comparison of bills: The trajectory of Miller–Horsford’s stablecoins-focused exemption versus the Lummis standalone crypto tax bill will influence the final framework if a package advances.
- Public-facing tax policy messaging: Watch for statements from tax authorities and industry groups clarifying how a de minimis exemption would interact with existing reporting requirements for small BTC transactions.
9)
Sources & verification
- Bitcoin Policy Institute article outlining the de minimis exemption for Bitcoin and the policy window.
- Cointelegraph reporting on the Bitcoin Policy Institute’s de minimis tax exemption push and related legislative activity.
- July 2025 Lummis proposal for a standalone crypto tax exemption with a $300 threshold and $5,000 annual cap.
- 2025 Miller and Horsford House proposal extending de minimis relief to stablecoins.
- Statements from Pierre Rochard about tax policy as the principal barrier to Bitcoin payments adoption.
Polymarket has partnered with oracle provider Pyth Network to launch traditional asset markets on its platform.
Summary
- Polymarket partnered with Pyth Network to introduce equity, commodity, and stock-linked contracts.
- The new markets include daily up or down and closing price contracts that reset at the end of each trading session.
- Pyth Network is providing real-time price feeds from trading firms and market makers to serve as the resolution layer for the new contracts.
According to an Apr. 2 announcement, the latest addition brings daily up-or-down and closing price contracts for major equity indexes, alongside commodities such as gold and oil, and US-listed stocks. Outcomes on these contracts are determined using Pyth’s real-time price feeds, and the markets reset at the end of each trading session.
Pyth Network will act as the resolution layer for these markets, replacing manual or exchange-specific references with a standardized data source aggregated from trading firms and market makers.
Simultaneously, Pyth has launched a data interface called Pyth Terminal, allowing users to track live price feeds and the reference values used to settle markets on Polymarket.
Oracle networks like Pyth bring off-chain data such as prices, foreign exchange rates, and commodities onto blockchains. These feeds are widely used across decentralized finance, prediction markets, and tokenized asset platforms, and have seen growing adoption, including by US government agencies.
PYTH price rallied over 70% after the announcement, while its market capitalization moved past $1 billion.
The latest products on Polymarket were launched as the platform continues to cement its position as a leading prediction market operator.
Last month, the project secured a $600 million investment from Intercontinental Exchange, the parent company of the New York Stock Exchange, as part of a broader multibillion-dollar commitment.
Meanwhile, Polymarket made investments of its own by acquiring DeFi infrastructure startup Brahma for an undisclosed sum.
A whale accumulated more than 2,000 Bitcoin (BTC) put contracts overnight, targeting a move below $66,000, just as over $2.15 billion in Bitcoin and Ethereum (ETH) options settle on Deribit today, April 3.
The back-to-back repositioning signals that at least one large player sees downside risk in BTC’s current price range, even as call open interest still outnumbers puts across both assets.
Why the Whale Trade Matters
Options analytics platform Greeks.live flagged the position shift on April 2, noting the same whale had closed a profitable long trade hours earlier before pivoting bearish.
Per the analysts, the whale entered a long position at $66,000 and exited above $68,000, booking a confirmed profit.
Within hours, a trader of comparable size began accumulating put contracts, this time betting on a move lower.
The rapid reversal is notable. A whale exiting a winning trade and immediately loading the opposite direction suggests a view that the $66,000–$68,000 zone is a resistance ceiling, not a launchpad.
With BTC trading at $66,575 and its max pain level set at $68,000, the spot price sits $1,425 below the level where options sellers profit most. If BTC fails to close that gap before settlement at 08:00 UTC, the bearish whale’s puts gain value.
The Expiry Data
Bitcoin accounts for $1.84 billion of today’s total notional value, with 27,590 contracts outstanding. Call open interest stands at 17,930 against 9,600 puts, giving a put-to-call ratio of 0.54.
The call skew still leans bullish in aggregate, but the whale’s 2,000-contract put position adds concentrated downside weight near the $66,000 strike.
Ethereum’s expiry is smaller but similarly structured. With $319.9 million in notional value and 156,083 total contracts, ETH trades at $2,052 against a max pain level of $2,075. Its put-to-call ratio of 0.72 points to heavier downside hedging than BTC’s.
“Yesterday, the whale closed out the two positions on the right side… The whale entered the position at 66K and closed it out above 68K — this trade was a resounding success. Starting late last night, a whale of similar size began buying put options again, with over 2,000 contracts expiring today, targeting a price below 66K,” the analysts stated.
What Comes Next
Options settle at 08:00 UTC on Deribit. The hours leading up to that window typically generate the sharpest gamma hedging activity, pulling prices toward max pain.
For BTC, that means a potential drift toward $68,000 if bulls hold ground, or a break below $66,000 if the whale’s put bet plays out.
The post Whale Turns Bearish Ahead of $2 Billion Bitcoin and Ethereum Options Expiry appeared first on BeInCrypto.
The amount of Bitcoin supply in profit and loss is now getting closer to levels typical of a bear market, according to a CryptoQuant analyst.
There are currently about 11.2 million Bitcoin (BTC) in profit. The previous bear market recorded 9 million BTC in profit at its lowest point, CryptoQuant analyst “Darkfost” said Thursday.
CryptoQuant data also shows there are about 8.2 million Bitcoin at a loss, with Glassnode data confirming it’s at levels not seen since late 2022.
“This is quite significant, considering that during the last bear market this figure reached about 10.6 million BTC,” Darkfost said.
Analysts have been debating whether Bitcoin has further to fall this year amid growing global turmoil. Bitcoin metrics that show a movement toward previous cycle lows could suggest that a market bottom is getting closer.
“This suggests that the market is reaching a notable level of undervaluation, comparable to the conditions observed during the previous bear market,” the analyst added.
Analyst sees increasing market stress, not undervaluation
However, Andri Fauzan Adziima, research lead at the Bitrue exchange, argued the data signals “increasing market stress, not immediate undervaluation.”
True capitulation bottoms saw deeper pain, he told Cointelegraph. The supply in loss in 2022 was greater than 50% and the supply in profit was around 45% or lower, while metrics such as net unrealized profit/loss (NUPL) and market value to realized value ratio (MVRV) were at “extremes.”
“Current data points to early/mid-bear transition (potential structural bottom near $55,000), with more downside or consolidation likely before a full reset.”
Related: Bitcoin’s drawdown is ‘less dramatic’ this cycle, Fidelity says
Data also shows Bitcoin has declined by about 52% from its all-time high this cycle, much less than previous bear markets, which saw 77% to 84% drawdowns from their cycle highs.
Strong dollar hampering recovery
Bitcoin author Timothy Peterson commented on X that Bitcoin “tends to struggle when the dollar is strong, and the Chinese yuan is weak.”
He added that this was due to tighter global liquidity, with higher dollar yields attracting capital into cash and bonds and cautious investor sentiment as China eases policy.
That only changes when US interest rates fall and “dollar yield loses its attractiveness,” which is not likely until the second half of 2026 or more likely 2027, he said.
The US dollar index (DXY) has gained about 5% over the past two months, according to TradingView.
For years, decentralized finance sold a simple, powerful idea: anyone, anywhere, can access financial services without gatekeepers. No banks, no approvals, no identity checks—just code and capital.
But beneath the surface, something is changing.
A growing number of protocols are quietly introducing permissioned layers—KYC-gated pools, whitelisted participants, and compliance-driven infrastructure. It’s subtle. Gradual. Easy to miss.
Yet it may redefine what DeFi actually is.
The Shift No One’s Loudly Talking About
Permissioned DeFi doesn’t arrive with headlines. It slips in through features like:
- KYC Pools – Liquidity pools restricted to verified users
- Whitelisted Access – Only approved wallets can interact with certain products
- Compliance Layers – Protocol-level rules aligning with regulatory frameworks
At first glance, these look like optional features. In reality, they signal a deeper evolution:
DeFi is adapting itself to fit inside the traditional financial system.
Why This Is Happening
Let’s be blunt—pure permissionless systems make regulators nervous.
Institutions want exposure to DeFi yields, but they need:
- Legal clarity
- Counterparty accountability
- Risk controls
Permissioned layers act as a bridge:
- They let institutions participate without violating compliance rules
- They give regulators something to work with
- They reduce the “wild west” perception of DeFi
In short, capital is forcing compromise.
What Changes (And What Breaks)
This shift isn’t just technical—it’s philosophical.
1. Participation Is No Longer Universal
The original promise of DeFi was inclusion.
Permissioned systems introduce exclusion by design.
If access requires:
- Identity verification
- Jurisdiction checks
- Approval from a governing entity
Then DeFi starts to look a lot like the system it aimed to replace.
2. “Open Finance” Becomes Conditional
DeFi assumed:
If you have a wallet, you’re in.
Permissioned DeFi changes that to:
If you meet the criteria, you’re in.
That’s a massive shift. It replaces code-based neutrality with policy-based access.
3. Liquidity Fragmentation
Instead of one unified pool of capital, we get:
- Public pools (permissionless)
- Private pools (permissioned)
This can lead to:
- Uneven yields
- Reduced efficiency
- Insider advantages for approved participants
Basically, the market starts splitting into tiers.
4. Power Starts Re-centralizing
Whitelists don’t manage themselves.
Someone decides:
- Who gets access
- Who gets removed
- What rules apply
Even if governance is “decentralized,”
Control creeps back in through decision-making layers.
The Trade-Off: Growth vs Principles
Let’s not pretend this is entirely bad.
Permissioned DeFi enables:
- Institutional capital inflows
- Regulatory survival
- Scalable adoption
Without it, DeFi risks staying niche—or getting shut out entirely.
But there’s a cost:
- Less openness
- Less censorship resistance
- Less equality
So the real question isn’t whether permissioned DeFi is good or bad.
It’s this:
How much of DeFi’s core ethos are we willing to trade for growth?
The Future: Two DeFis?
We may not end up with one unified ecosystem.
Instead, expect a split:
Permissionless DeFi
- Open to everyone
- Higher risk, higher innovation
- Resistant to control
Permissioned DeFi
- Regulated and compliant
- Institution-friendly
- Controlled access
They’ll coexist—but not as equals.
One maximizes freedom.
The other maximizes scale.
Final Thoughts
Permissioned DeFi isn’t sudden; it’s a slow drift.
No dramatic announcements.
No clear line crossed.
Just small changes… that quietly redefine everything.
And if you blink, you might miss the moment when “open finance” stops being fully open.
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OpenAI has acquired technology talk show TBPN as it looks to refine how it communicates with audiences beyond its core products.
Summary
- OpenAI has acquired TBPN, a Silicon Valley-focused tech talk show, as it expands its role in shaping public conversations around artificial intelligence.
- TBPN will continue operating with editorial independence while also contributing to OpenAI’s communications and marketing efforts.
According to an Apr. 2 announcement, the deal brings the Los Angeles-based program under OpenAI’s umbrella. Financial terms of the deal were not disclosed.
TBPN, hosted by John Coogan and Jordi Hays, streams live for three hours each weekday and features interviews with founders, venture capitalists, and senior technology executives. Guests in recent months have included Mark Zuckerberg, Satya Nadella, and Sam Altman, underscoring the show’s growing influence within the tech ecosystem.
OpenAI’s leadership framed the acquisition as part of a push to shape how conversations around artificial intelligence unfold.
In an internal memo, Fidji Simo, OpenAI’s chief of strategy, said the company sees a need for “real, constructive conversation” as AI systems become more embedded in society. The company believes TBPN can help create that space while also expanding its reach.
Despite the ownership change, OpenAI has emphasized that TBPN will retain full editorial control.
Behind the scenes, the show is expected to contribute to OpenAI’s communications and marketing efforts beyond its daily broadcasts. Simo noted that TBPN’s track record in brand storytelling and its close view of industry trends played a role in the decision.
Founded in October 2024, TBPN began daily livestreaming in March 2025 and has since carved out a niche audience. Each episode draws roughly 70,000 viewers across platforms such as X, YouTube, and Spotify.
While modest compared to traditional financial media, the show has gained traction among technology leaders who see it as more aligned with industry perspectives than legacy outlets like Bloomberg or CNBC.
The acquisition comes shortly after OpenAI closed a $122 billion funding round led by Amazon, Nvidia, and SoftBank.
The US job market is showing alarming deterioration. According to The Kobeissi Letter, government job openings dropped 51,000 in February to 701,000.
This marked the second-lowest reading since December 2020. Available government vacancies have fallen 524,000 since their 2022 peak and now sit at pre-pandemic levels.
In addition, federal government openings fell to 89,000, the second-lowest since the pandemic low. This level is also in line with readings from 2017 and 2018.
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“Meanwhile, the government hiring rate stood at 1.4%, one of the lowest levels since mid-2020 and matching the 2016 and 2017 lows. Government hiring is frozen,” the post read.
Meanwhile, the private sector is shedding jobs at scale. Oracle reportedly laid off up to 30,000 employees on March 31. Amazon cut 16,000 corporate roles in January, and Block eliminated over 4,000 positions. These were just some of the many companies that made job cuts.
Consumer Sentiment Signals Trouble Ahead
In a separate post, The Kobeissi Letter suggested that forward-looking indicators” point to a further increase in US unemployment.” The Conference Board’s March survey showed that only 27.3% of consumers described jobs as “plentiful.”
This was a marginal uptick from 26.7% in February, but still well below the roughly 55% who felt that way in 2022. At the same time, 21.5% said jobs were “hard to find,” up from approximately 10% over the same period.
The gap between these two readings, known as the labor market differential, fell to just 5.8 points. That represents the lowest level since the 2020 pandemic.
The Kobeissi Letter noted that historically, this indicator has been one of the most reliable leading signals of rising unemployment.
“Furthermore, current levels in this indicator have only been seen prior to or during a US recession since the 1990s. The job market is set for even more weakness,” the analysts added.
With these indicators pointing in the same direction, the March jobs report will be closely watched to determine whether underlying deterioration is cyclical or marks a deeper shift.
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The post US Job Market Flashes Warning Signs Last Seen During 2020 Pandemic appeared first on BeInCrypto.
Circle plans to launch its own version of wrapped Bitcoin on the Ethereum network to target institutional markets.
Summary
- Circle plans to launch cirBTC on Ethereum, a 1:1 bitcoin backed wrapped asset targeting institutional markets.
- Wrapped Bitcoin allows BTC to be used on networks like Ethereum, giving institutions access to decentralized finance applications.
In a Thursday announcement, stablecoin issuer Circle said it plans to introduce cirBTC, a token that is backed 1:1 by bitcoin and aimed at over-the-counter desks, market makers, lending protocols, and other institutional participants, framing the asset as a “highly secure and neutral version of wrapped BTC.”
Wrapping allows a native asset like Bitcoin to be tokenized and used across other blockchains. In this case, wrapped Bitcoin lets BTC be brought onto networks such as Ethereum, which gives users access to decentralized finance applications.
The token will also launch on Circle’s layer-1 blockchain Arc and integrate with the Circle Mint platform.
Circle joins a growing list of participants that have introduced wrapped Bitcoin as demand for decentralized finance continues to expand among institutional users.
The sector is currently led by BitGo’s Wrapped Bitcoin, which currently holds a market capitalization of about $8 billion.
Coinbase also launched its own version, Coinbase Wrapped Bitcoin (cbBTC), in September 2024, which has since grown rapidly to reach a market capitalization of $5.9 billion. Last year, Coinbase launched Wrapped ADA (cbADA) on the Base blockchain to facilitate cross-chain liquidity.
Meanwhile, several other exchanges have released their own wrapped assets, including Kraken Wrapped BTC (kBTC), Binance Wrapped BTC (BBTC), Bitget Wrapped BTC (BGBTC), and OKX Wrapped BTC (okBTC), among others. These offerings are often paired with proof-of-reserve transparency to assure institutional traders that the underlying assets are held in secure, 1:1 custody.
Japanese Gen Z stands out as the most scam-conscious generation when it comes to crypto. A new survey of 1,486 people across Japan found that younger users are far more alert to fraudulent pitches on social media than their older peers.
The gap between generations reveals that Japan’s crypto trust problem is not uniform — it varies by age and online habits.
Gen Z Watches for Scams, Boomers Struggle With Basics
The survey, conducted by Tokyo-based consulting firm Clabo in February 2026, asked respondents why they view crypto as suspicious. The top answer overall was “I don’t understand how it works,” chosen by 23.3% of respondents. Price swings came second at 21.1%, followed by fraud concerns at 19.2%.
But generational breakdowns tell a different story. Gen Z respondents flagged social media scams as their primary worry. They encounter fake giveaways and shady promotions on platforms they use daily. Older cohorts, including Japan’s bubble generation, pointed instead to the complexity of blockchain technology itself.
Millennials showed the highest rate of actual crypto investment among all age groups. They also reported the most active information-seeking behavior.
Across all groups, half of the respondents said they had never invested in crypto. Only 33.7% said they currently hold digital assets. Another 15.7% said they once invested but have since stopped.
YouTube Leads for Investment Decisions
When it comes to where people get crypto news, traditional news sites ranked first at 38.4%. Social media followed at 36.7%, with YouTube at 31.6%. But for actual investment decisions, YouTube jumped to first place at 27%.
The survey suggests that Japan’s crypto industry still faces a basic education gap. Clabo, which offers wallet recovery and security consulting, recommended more accessible educational content tailored to each generation’s specific concerns.
The post Japanese Gen Z Fears Crypto Scams More Than Any Other Generation appeared first on BeInCrypto.
Stablecoin issuer Circle said it plans to launch its own version of a wrapped Bitcoin, which would put it against incumbents Coinbase and BitGo as it targets institutional users.
The asset, called cirBTC and announced on Thursday, is set to launch on Ethereum, backed 1:1 by bitcoin (BTC) and aimed at over-the-counter desks, market makers and lending protocols.
Circle said the asset is designed to provide institutions with a “highly secure and neutral version of wrapped BTC.”
Financial institutions, which have become significant buyers of Bitcoin, have been actively exploring decentralized finance. Wrapped versions of Bitcoin would allow the asset to be used on other chains, such as Ethereum, giving them access to DeFi.
In addition to Ethereum, the new asset will also launch on Circle’s layer-1 blockchain Arc and its Circle Mint platform, said Circle.
Cointelegraph contacted Circle for further details, but did not receive an immediate response.
Circle joins race led by Coinbase and BitGo
Circle’s new wrapped Bitcoin joins a market currently led by BitGo’s Wrapped Bitcoin (WBTC) and Coinbase Wrapped Bitcoin (cbBTC).
Coinbase’s cbBTC was launched in September 2024 and has a current market capitalization of $5.9 billion and a current supply of 88,800 tokens.
BitGo’s wBTC is the dominant wrapped Bitcoin token, with a market capitalization of about $8 billion and 119,157 tokens in circulation. However, that figure is roughly half its November 2021 peak, when Bitcoin hit its cycle all-time high.
Related: WBTC expands to Hedera as Bitcoin liquidity flows into new DeFi rails
Crypto exchanges launched their own wrapped Bitcoin
Several crypto exchanges have launched variations of wrapped Bitcoin, including Kraken Wrapped BTC (KBTC), Gate Wrapped BTC (GTBTC), Binance Wrapped BTC (BBTC), Huobi BTC (HBTC) and OKX Wrapped BTC (XBTC), but their market caps are a fraction of the two leaders.
The total combined supply of wBTC and cbBTC stands at roughly 208,000 BTC, according to CoinGecko.
Stablecoin transaction volume surpassed the US Automated Clearing House network for the first time in February, a significant milestone for an asset class that has existed for less than 12 years.
According to data from blockchain analytics platform Artemis, the total 30-day adjusted rolling stablecoin volume hit $7.2 trillion in February, beating the Automated Clearing House network at $6.8 trillion.
The data is based on 30-day rolling adjusted volume of stablecoin transactions in US dollars, excluding MEV activity and intra-centralized exchange transactions, comparing this to the daily average volume of other financial systems.
“Stablecoins are quietly becoming the foundational infrastructure for global payments: no banks, no weekends, no borders,” said analyst Alex Obchakevich in an X post on Friday.
Surpassing the ACH is significant, given that the network functions as the backbone of the US payments system. Data from Nacha, one of the primary forces governing the ACH alongside the Federal Reserve, indicates that the ACH network processes about 93% of salary payments in the US.
The data also shows that stablecoin market volumes have consistently grown over the past few years relative to the other major financial systems, such as Visa and PayPal.
Artemis data for March show that stablecoin volume continued to hit new highs, notching $7.5 trillion for the month and matching the ACH over that 30-day period.
Stablecoin supply continues to surge
Meanwhile, in the first quarter of 2026, total stablecoin supply hit $315 billion, increasing by $8 billion from the first quarter of 2025, according to data from CEX.IO.
Stablecoins also accounted for 75% of total crypto trading volume in the quarter, marking the highest levels on record, Cointelegraph previously reported.
Related: US Treasury seeks public input for state-level stablecoin regulations
An important catalyst for stablecoins has been the growing adoption by institutions amid a warming regulatory climate in the US.
Analysts from major traditional finance institutions such as Standard Chartered have tipped the total stablecoin market cap to hit $2 trillion by 2028, which would mark an increase of over 530% from current levels.
In a post on Tuesday, Frank Chapparo, the content head at trading firm GSR, argued that banks or fintech firms are “toast” if they ignore the explosive growth of the sector.
“The signals are everywhere,” he said, pointing to the total supply growing from less than $30 billion in 2020 to over $300 billion since then. Chapparo highlighted the GENIUS Act as a key piece of regulation that has unlocked institutional adoption.
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