Illinois agreed to delay its 0.2% crypto transaction tax six months, to July 1, 2027, in a joint motion a judge must still approve. The law stays on the books while two lawsuits proceed, so brokers who must collect it get more time to build for a levy that can still arrive in July.
Perspective Coverage
5 publishers
- Builder
- Builder 17%
- Operator
- Operator 51%
- Investor
- Investor 32%
Reality
- Evidence76
- Adoption
- Insufficient
- Hype gap+15
- Incentives68
- Confidence72
Anchorage Digital, the first crypto firm with a national trust charter, has cut 17% of its staff, according to people familiar with internal discussions. It is shrinking while it holds new investor capital and competes with rivals that have since won similar charters.
Reality
- Evidence35
- Adoption
- Insufficient
- Hype gap+15
- Incentives
- Insufficient
- Confidence35
Anchorage Digital is cutting about 17% of staff, an estimated 68 jobs, eight months after Tether's $100 million investment valued it at $4.2 billion. That price covered a roughly 2.4% stake, and Anchorage's own 2023 record points to a cost cut it has reversed before.
Perspective Coverage
3 publishers
- Builder
- Builder 22%
- Operator
- Operator 40%
- Investor
- Investor 38%
Reality
- Evidence50
- Adoption30
- Hype gap+15
- Incentives35
- Confidence55
Builders Bank & Trust would custody bitcoin and stablecoins under one federal supervisor instead of fifty state ones. That is worth paying for. But 23 of the OCC's last 40 applications want much the same thing.
Reality
- Evidence56
- Adoption48
- Hype gap+16
- Incentives72
- Confidence57
Messari puts Morpho's outstanding loans at a record $5bn, with 95% of it stablecoin credit. About $1.3bn of that comes from Coinbase customers borrowing USDC against $2.5bn of cbBTC, and that prices out as a 52% loan-to-value book, not a leverage book.
Reality
- Evidence50
- Adoption78
- Hype gap+15
- Incentives70
- Confidence55
Payward's Bitnomial filing answers the market-structure question the CFTC already knows how to answer. The open item is the screening of a permissionless order book, and no answer to that question exists yet.
Reality
- Evidence40
- Adoption45
- Hype gap+45
- Incentives72
- Confidence45
The Coinbase-funded group is rewarding a vote already cast, in the chamber that already said yes. The bill is stuck one floor over.
Reality
- Evidence52
- Adoption40
- Hype gap+34
- Incentives82
- Confidence58
The $1 billion facility routes USDe reserves into overcollateralized institutional loans through a bankruptcy-remote vehicle. The structure, not the size, is the news.
Reality
- Evidence33
- Adoption41
- Hype gap+28
- Incentives72
- Confidence38
Custody+ adds digital asset custody later this year, starting with bitcoin, inside the framework Citi uses for traditional securities. The bank says it will hold native tokens rather than route them out.
Perspective Coverage
3 publishers
- Builder
- Builder 25%
- Operator
- Operator 35%
- Investor
- Investor 40%
Reality
- Evidence55
- Adoption30
- Hype gap+22
- Incentives72
- Confidence62
The Miami treasury company is sending about 106,000 ETH, roughly 12% of its stack, into a receipt token custodied at Anchorage. Passive holding is becoming collateral.
Reality
- Evidence34
- Adoption48
- Hype gap+32
- Incentives76
- Confidence42