The U.S. Senate is set to vote on a stablecoin bill. Anthony Pompliano, well-known as a BTC supporter, is preparing a new Bitcoin investment fund, and news has been reported that Bitcoin prices have fallen in the aftermath of Israel's Iran airstrike.
According to a Senate Democratic Party announcement, the U.S. Senate plans to vote on an amendment to the GENIUS Act, a stablecoin regulatory bill, on June 17th. Before the vote, lawmakers intend to propose several amendments, including provisions limiting cryptocurrency industry involvement by public officials and their families. The Democratic Party spokesperson stated, "The Senate will vote on the final passage of the revised bill based on negotiations between the majority leader and the Democratic leader."
Meanwhile, in the House of Representatives, a separate market structure bill is being pursued to clarify the jurisdictional roles of the SEC and CFTC. While stablecoins appear to be at the center of discussions, broader cryptocurrency regulatory legislation is actively being developed in both chambers of Congress.
Anthony Pompliano, well-known as a cryptocurrency investor, is promoting the launch of a new Bitcoin-centered investment organization. According to the Financial Times, he is set to become the CEO of a company called ProCapBTC, with the goal of raising a total of $750 million, including $500 million in stocks and $250 million in convertible bonds.
ProCapBTC is pursuing a merger with Columbus Circle Capital 1, a company that has traditionally attempted mergers with technology companies through SPACs. Pompliano has been expanding his scope of activity by leading ProCap Acquisition, a fintech-focused SPAC listed on Nasdaq in April.
Meanwhile, Bitcoin prices have plummeted due to recent deterioration in Middle Eastern tensions. After a series of explosions in Tehran on the 13th, Israel admitted to airstrikes on Iran. Upon this news, Bitcoin dropped 2.8% in 90 minutes, falling from $106,042 to $103,053, and is currently trading around $104,370.
Amid market chaos, approximately $427.84 million in long positions were liquidated in a single day, resulting in significant losses among investors. Just a few days ago, on the 11th, Bitcoin prices had approached its all-time high of $111,940 by rising to $110,265, but geopolitical uncertainty appears to have rapidly dampened investment sentiment.
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