Davis Wilson:

Why the Senate Crypto Bill Is in Turmoil

The Senate is entering a sudden cryptocurrency policy scramble, with one of President Trump’s legislative priorities on the line.

Bipartisan talks over a landmark crypto bill have hit an unexpected roadblock, after nine key Senate Democrats on Saturday said they wouldn’t support revisions that GOP lawmakers unveiled last week. 

The bill would create the first-ever federal regulatory framework for so-called stablecoins that are pegged to the value of the dollar. Setting up crypto-friendly regulations for stablecoins and other digital tokens is a priority of Trump’s financial policy agenda.

The Democrats’ concerns — including from some who supported an earlier version of the bill in committee — had been festering for days behind the scenes, according to more than half a dozen aides and lobbyists granted anonymity to relay sensitive details of the negotiations.

GOP aides involved in talks said they were stunned by the Democrats’ statement Saturday, which argued that the revised proposal wouldn’t go far enough to crack down on money laundering and to protect the broader financial system. But Republicans remain hopeful that there is still a path forward to win over Democratic support.

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Chris Guenthner:

What Will Bitcoin Price Be if Gold Hits $5K?

Gold’s march toward $5,000 per ounce and beyond has become a big topic among hard-asset bulls. But what could happen to the price of Bitcoin, touted as “digital gold” by many, if the precious metal surges even higher?

Bitcoin has historically delivered far more substantial gains than gold when their markets rally concurrently.

From March 2020 to March 2022, during the Federal Reserve’s ultra-loose monetary policies, BTC’s price surged approximately 1,110%, while gold increased by only 35.5%. In the November 2022–November 2023 rally, coinciding with rising global money (M2) supply, gold gained about 25%, while Bitcoin jumped by 150% or nearly 6x outperformance.

Gold’s climb from its current value of around $3,265 to $5,000 will equal 50% gains. So, if history repeats, Bitcoin could grow by 300% or to a price of $285,000 per BTC.

Bitcoin’s 30% pullback from its record high of around $110,00 appears mild compared to past sell-offs of over 50%. This resilience strengthens its role alongside gold and raises the chance it could follow gold’s rally if market conditions improve.

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Ray Blanco:

Residents of SpaceX’s Starbase Launch Site Vote To Incorporate as a City

Residents of an area around SpaceX’s Starbase launch site in southern Texas voted overwhelmingly on Saturday to incorporate as a city — also named Starbase. According to results posted online by the Cameron County Elections Department, there were 212 votes in favor and only six against.

In a post on his social media site X, Elon Musk wrote that Starbase, Texas, “Is now a real city!” 

The new city’s residents are believed to mostly be SpaceX employees. On Saturday, they also voted to elect three current and former SpaceX employees — Bobby Peden, Jordan Buss, and Jenna Petrzelka — who ran unopposed to serve, respectively, as Starbase’s mayor and two commissioners.

SpaceX hasn’t shared many specifics about why it wanted to incorporate the area. The company said it already manages the roads, utilities, and “the provisions of schooling and medical care,” and it’s also looking to shift authority from the county to the new city government to close the nearby Boca Chica beach and state park for launches.

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