News

According to a report by Bijie Network: Democratic Senator Mark Warner expressed his frustration over the deadlock in cryptocurrency legislation negotiations during a Senate Banking Committee hearing, stating, "I feel like I'm in crypto hell." He emphasized the need to establish clear rules while avoiding excessive exemptions or weakening existing prosecutorial powers, and highlighted the ongoing national security risks in the decentralized finance sector. Previously, a hearing originally scheduled by the committee for January was postponed, and efforts are now underway to advance a market structure bill aimed at regulating the cryptocurrency industry, clarifying token issuance rules, and setting guidelines for areas such as tokenized stocks. The stablecoin incentive mechanism remains a focal point of controversy, with banking groups warning that it could lead to deposit outflows, while cryptocurrency advocates accuse banks of stifling competition. Treasury Secretary Scott Besant testified that passing the Clarity Act is crucial, stating, "Without it, nothing else can move forward."

ChainCatcher News, according to official sources, cross-chain bridge aggregator Relay has announced the completion of a $17 million Series B funding round, led by Archetype and Union Square Ventures. At the same time, Relay announced the launch of Relay Chain.

According to a report by Bijie Network: Merkle Trade, the largest decentralized perpetual futures exchange on the Aptos platform by trading volume, has announced that it will cease operations in the coming weeks after its cumulative trading volume approached $30 billion. New positions will stop opening on February 6, and all remaining positions will be forcefully closed on February 10. Its native token MKL surged 11.5% within 24 hours, but is still down 90% from its peak in December 2024, at which time it will be redeemable without fees. The closure is due to a significant decline in the platform's total value locked (TVL), reflecting the overall weakness of the Aptos ecosystem, whose TVL has dropped by more than 70% from its peak in December 2024.