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Saudi Arabia Withdraws From China-Backed mBridge CBDC Plan—FT

Saudi Arabia’s central bank has ended its participation in mBridge, a China-backed project built to test direct cross-border payments between central banks using digital currencies, according to the Financial Times . The Saudi central bank, SAMA, joined mBridge as a full participant in June 2024 and completed its proof of concept on May 13, 2025, the report said, citing a statement from the central bank. SAMA indicated it had planned to wind down after finishing the test phase. Key takeaways Saudi Arabia’s central bank, SAMA, has withdrawn from mBridge after completing its proof of concept in May 2025. mBridge is designed for central banks to issue and transact in their own digital currencies on a shared ledger, rather than relying on a single stablecoin. The project was created in 2021 by the BIS Innovation Hub together with multiple central banks, and it later moved from BIS development to central bank control. mBridge has faced scrutiny from US policymakers, including concer...
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CLARITY Act setback shifts focus to Coinbase amid crypto policy debate

After more than two years of lobbying for clearer rules in Washington, crypto policy took another hit this week. The U.S. Senate failed to advance the CLARITY Act on Tuesday, missing the 60 votes required to move the bill to the floor—an outcome that compresses an already tight legislative window ahead of the Nov. 3 midterm elections. Strategists highlighted that the fallout may not be evenly distributed across the sector. In parallel, Wall Street research is making bold calls on layer-2 networks and staking yields, while industry executives are warning that artificial intelligence may be weakening crypto liquidity and increasing the security burden for smaller teams. Key takeaways The Senate’s procedural failure to advance the CLARITY Act narrows the bill’s remaining path this year as election-season timing tightens. Saxo strategist Ruben Dalfovo argues Coinbase is more directly exposed than some peers because market-structure rules could affect registration, tradable assets, and...
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Circle Introduces Bitcoin-Backed USDC Loans for Institutional Use

Stablecoin issuer Circle has introduced a Bitcoin-backed borrowing service aimed at institutional users, enabling eligible Circle Mint customers to pledge BTC collateral to borrow USDC via onchain lending markets. The feature is designed to keep borrowers within existing Circle custody relationships while still tapping decentralized liquidity. Dubbed Digital Asset-Backed Borrowing , the service allows customers to deposit Bitcoin, mint Circle’s wrapped Bitcoin token cirBTC , and then supply that wrapped asset as collateral on supported lending protocols on Arc or Ethereum. Circle says Morpho is the first supported lending venue, with plans to add Aave and other protocols later. Key takeaways Circle Mint users can use Bitcoin as collateral to borrow USDC on supported DeFi lending markets. The new workflow converts deposited BTC into cirBTC , which is then posted to lending protocols (starting with Morpho ). Borrowing terms such as rates, collateral requirements, and liquidation...
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Shib Holds Ground As Spot Flows Remain Mixed

SHIB Knight argues that SHIB is not in its process of moving and is still early. The opinion is based on the analysis of the chart that displays prices close to long-term lower-ranges consolidation. However, the current structure of the chart does not show that a breakout from resistance occurred. The extended timeframe shows a clear downtrend to $0.00000546. Before that happened, there was a sharp rise up to the level of $0.000045. Price had several attempts that resulted in failure at the levels of $0.000020 and $0.000030. It means that these levels were zones of active sales before. The price began to fall slowly while being in the range of $0.000005-$0.000007. There are recent candles that are compressed at this lower level. It means that there is a transition from active selling to trading. The current market chart displays the price at $0.000005416. The token rose by 0.4% over the past 24 hours shown on the chart. Trading activity was within the range of about $0.00000535 and $0....
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Bitcoin Breaks $86K as Analysts Cite Signs of a New Bull Market

Bitcoin rallied sharply on Monday, pushing above $86,000 for the first time since late January as broader risk sentiment improved and oil prices continued to slide. The move came after a strong Sunday close near $81,120 and was reinforced by reports pointing to renewed momentum in efforts to de-escalate tensions in the Middle East. Alongside the price strength, traders focused on positioning—particularly the scale of short liquidations—while analysts debated whether the breakout signals a sustained trend or a short-lived burst that could reverse if key technical levels fail to hold. Key takeaways Bitcoin climbed nearly 6% on Monday and briefly topped $86,000, reaching $86,332 on Bitstamp, according to TradingView data. Crypto short liquidations totaled almost $800 million over 24 hours, with CoinGlass cited as the data source. US stocks opened higher as WTI crude fell below $92 per barrel, with the report linking the move to expectations of calmer geopolitical risk. Analysts at...
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Circle Introduces Bitcoin-Backed USDC Loans for Institutional Users

Stablecoin issuer Circle is moving deeper into regulated crypto lending with a new Bitcoin-backed borrowing service designed for institutions. Through its Circle Mint platform, eligible customers can deposit Bitcoin, use Circle’s wrapped token cirBTC as collateral, and borrow USDC via supported onchain lending markets. Circle says the rollout aligns with a broader infrastructure push around its Arc network, which is positioned as a layer-1 for stablecoin-based payments and financial services. The borrowing service—called Digital Asset-Backed Borrowing —adds a new way for Bitcoin holders to access USDC liquidity without handing custody of the underlying assets to the lending venues themselves. Key takeaways Circle’s new service lets eligible Circle Mint customers use Bitcoin as collateral to borrow USDC on supported DeFi lending protocols. The borrowing workflow uses cirBTC as the collateral token, which Circle says is backed 1:1 by Bitcoin held in custody by Circle National Trust...
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CLARITY Act Setback Puts Coinbase Under Regulatory Focus

Crypto market participants are watching two very different developments this week: a stalled bid for U.S. regulatory “market-structure” clarity, and new attempts to monetize crypto assets—ranging from layer-2 revenue projections to Ether staking and treasury strategies. While lawmakers failed to move the CLARITY Act forward in the Senate , strategists and companies continued to refine their assumptions about how regulation, onchain finance, and emerging AI risks could reshape incentives. The legislative snag matters because it directly affects how U.S. crypto exchanges may register, which assets can be traded, and who can participate on platforms—issues that tend to influence both compliance costs and product roadmaps. Meanwhile, corporate and research teams offered fresh forecasts and operational updates, from Standard Chartered’s bullish view on Arbitrum’s economics to Bitmine’s staking revenue outlook and warnings from Phemex’s CEO about AI-driven security pressures. Key takeaways ...
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