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U.S. Representative Bryan Steil (R-WI) argues Congress should advance stablecoin regulation and crypto market structure legislation in tandem. Steil contends the two areas are interconnected and progress together benefits both the stablecoin and broader crypto sectors. Steil expressed his opinion during a recent podcast , highlighting the increased energy from the Senate toward the stablecoin bill after President Donald Trump urged the bill to be ready before the August recess. Trump’s request fueled speculation among crypto watchers about imminent bills potentially redefining the U.S. crypto landscape. Steil, who chairs the House Financial Services Subcommittee covering digital assets, fintech, and AI, views the Senate as a partner and plans to match their pace. Related: Senator Hagerty’s GENIUS Act Aims to Pass Stablecoin Bill in 100 Days He aims to advance both stablecoin and market structure bills concurrently, anticipating Senate support to meet Trump’s August target. Steil outlined the process for passing these key pieces of legislation. He noted significant support for the Genius Act, introduced in the Senate by Senator Bill Hagerty (R-TN). In the House, Steil partnered with Rep. French Hill (R-AR) to sponsor the Stable Act, and an updated version is planned that aims to align more closely with the Senate bill. Steil anticipates both the House and Senate passing their respective versions before reconciling differences to craft a single, final bill for passage in both chambers. This detailed legislative path, while potentially seeming lengthy to some industry observers, allows lawmakers to focus on “getting things right,” according to Steil. Related: U.S. Senate Committee OKs Stablecoin Bill, Balancing State & Federal Roles He clarified the objective isn’t just speed, but working accurately to deliver sound, effective legislation for the digital asset space. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Harpie, an on-chain firewall project designed to protect crypto users from various forms of theft, announced it has ceased operations and will no longer provide its security services. The team, whose mission involved preventing threats like phishing scams and smart contract exploits, acknowledged challenges in finding a sustainable business model to support its long-term goals. According to Harpie’s official announcement, while the project successfully developed valuable security tools, these efforts ultimately failed to achieve the financial viability necessary for continued operation. This outcome occurred despite Harpie securing $4.5 million in a September 2022 seed funding round led by prominent venture firm Dragonfly Capital. The project couldn’t generate enough sustained revenue or user growth to maintain its services. Related: Stolen Funds in Crypto Theft Plummets 54.3% to $1.7B in 2023 For users with assets currently managed or vaulted via the Harpie platform, the company stated it will launch a tool soon that enables transfers to external wallets. Anyone encountering failed transactions using Harpie’s RPC endpoint now is advised to disconnect from it through their wallet’s network settings. Harpie assured users it would provide the necessary tools and instructions to move vaulted assets in the coming days. The company confirmed that commitments related to Harpie’s Season 1 and referral program giveaways will still be honored. Users are encouraged to monitor the official Harpie Discord channel for updates and specific instructions regarding asset withdrawal and reward distribution. Despite closing down, the Harpie team expressed gratitude to its user base. They also hoped the project’s work might inspire other companies to continue developing robust solutions for a safer crypto environment. While Harpie’s specific business model didn’t succeed, its efforts against digital wallet theft and fraud could potentially inform future security innovations within the crypto space. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

An inside source claimed Tether is set to purchase a 30% stake in the Italian media company, Be Water. With a market value of more than $144 billion, the stablecoin firm has been expanding its portfolio beyond crypto. According to a recent Bloomberg report , a source familiar with the dealings told the news outlet that the stablecoin issuer has agreed to to buy a 30% stake in the Italian media company Be Water. However, the deal has not been officially announced yet and the source refused to be identified until the agreement goes public. A representative for Tether ( USDT ) has not responded to a request for comment regarding the deal with the Italian firm, neither has a spokesperson from Be Water. Founded in 2021 by financier and writer Guido Brera, Be Water is a broadcast media company based in Rome, Italy. It is the parent company of podcast production firm Chora Media and Instagram-based content company Will Media, as well as the distribution and production firm Be Water Film. It made its debut at the Cannes Film Festival last year and has partnered with major players from the Italian film industry such as screenwriter Stefano Bises and actor Alessandro Borghi. If the deal does close, Be Water will be the company’s latest venture into multimedia companies after it invested $775 million in video sharing platform Rumble in December 2024. Most recently, the stablecoin issuer has agreed to help the platform build its own digital wallet to support creator funding. Aside from multimedia companies, Tether’s investment portfolio covers a wide range of firms in various industries from Bitcoin ( BTC ) mining to commodity trading. At press time, USDT, has accumulated a market cap of more than $144 billion. While its daily trading volume currently stands at $23.8 billion, according to data from crypto.news. Last month, an inside source signaled that Tether is planning to invest its $7 billion in excess reserves into more companies outside of the crypto space.