Coindesk

Good Morning, Asia. Here's what's making news in the markets:Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk's Crypto Daybook Americas.Keep an eye on ETH, is what fund manager March Zheng is telling investors.As Asia begins its business day, ETH is trading above $2,500, down 0.4%. While this might not seem like a lot in the volatile world of crypto, ETH has defied the odds and is up 40% on-month, which is impressive because its performance is only matched by memecoin stalwarts like PEPE, and Decentralized Finance lending protocols like AAVE. The latter's performance has helped push up...

On the eve of a U.S. House of Representatives hearing to scrutinize a bill to establish rules for the crypto markets, Democrats said they've been stymied from seeking technical information about its effects from the U.S. Securities and Exchange Commission, according to staffers.Regulatory agencies such as the SEC routinely give technical analysis to lawmakers, answering questions about the potential effects of legislative efforts such as the Digital Asset Market Clarity Act that would establish regulatory guardrails for digital assets. Democratic staff on the House Financial Services Committee submitted questions to the SEC about the bill and in a briefing were denied basic answers that were previously given to Republicans, according to the Democratic aides who asked not to be named....

Pump.fun is planning to raise $1 billion in a token sale at a $4 billion fully diluted valuation (FDV), according to Blockworks, which added that it was unable to confirm timing nor whether the new token would be issued on pump.fun.The platform, which allows any and all to freely create their own tokens on the Solana blockchain, has generated more than $700 million in total revenue since launching more than a year ago, according to the story.Solana's SOL SOL dipped about 2% as the news hit, but has since recovered about half of that knee-jerk decline.Source link

The U.S. Senate may be fast approaching a final vote on regulating stablecoins, which would be a high-water mark for crypto legislation in Congress, but Representative French Hill said the Senate's bill has some key differences with a similar effort in the House of Representatives, and those would need to be ironed out before it can become law."The bills are substantially similar," said Hill, the chairman of the House Financial Services Committee that has been at the forefront of the congressional negotiation over stablecoins for years, at an Atlantic Council event on Tuesday. "There are some differences that are not insurmountable but do need to be rectified and clarified."Hill said one of the standout differences includes the House's tougher requirements...

A representative of the Trump Organization said the group “knows nothing” about a crypto wallet project called the “$TRUMP Wallet,” despite the app’s branding and claims being tied to the U.S. president.“The Trump Organization knows nothing about this project," a spokesperson for the Trump Organization told CoinDesk.The app, according to its sparse but live website, promises users the ability to hold and trade digital assets. It includes no technical documentation or launch timeline but features a waitlist for early access. Magic Eden, the crypto marketplace reportedly involved in the project, had confirmed the project through a post by its CEO Jack Lu on X. U.S. President Donald Trump has leaned into crypto since reentering the political arena ahead of last...