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U.S. House Tax Committee Advances Crypto Tax Bill After Clarity Act Setback

The U.S. House tax committee advanced a crypto tax bill after the Clarity Act failed a key Senate vote, giving lawmakers a potential legislative foothold despite limited time remaining in the congressional session. Congress has roughly five weeks of scheduled work between the November elections and the start of the next session in January. The bill sets a $10 threshold for small digital-asset transactions and provides specific tax treatment for qualifying dollar stablecoins, as well as small network and transaction fees. Committee Chairman Jason Smith said the measure would prevent everyday purchases such as a cup of coffee from triggering excessive compliance requirements. Representative Steven Horsford said the package establishes basic tax rules for digital assets.

Bitcoin Breaks Below Range Floor as New Demand Fades, Glassnode Says

Bitcoin fell about 4.6% this week to roughly $76,000, breaking below the range floor established since late August and the $76,700 realized market mean, according to a Glassnode report. The decline remained moderate despite the failed Senate vote on the CLARITY Act and a broad sell-off in altcoins. New demand has weakened, with on-chain capital inflows stalling after 27 consecutive days, exchange-traded funds turning to net outflows, stablecoin supply remaining flat, and corporate treasuries stopping purchases. Options positioning shifted toward downside protection within hours of the vote, with maximum pain at $72,000 and substantial call open interest near $85,000 creating overhead resistance. Order-book data shows nearly two-thirds of bids concentrated 1% to 10% below the current price; support becomes thin below $68,000, with $71,300 and then $62,000-$65,000 identified as the next downside levels.

Commentary Warns Monetary Policy Path Still Points to Currency Debasement

A market commentary argued that the direction of monetary policy—whether rates are hiked, cut, or held—does not change the broader outlook for continued debasement. The post framed the issue as a matter of “math and time,” without providing additional data or specific policy forecasts.

Deadstock Raises $2.5 Million Seed Round Led by Bullish Capital

Deadstock, an on-chain marketplace and liquidity layer for physical collectibles, has raised $2.5 million in seed funding led by Bullish Capital, the venture arm of Bullish, with participation from several angel investors. Created by ATH Labs and built on Arbitrum, Deadstock combines physical inventory, tokenization, marketplace trading and redemption infrastructure. The funding will support its transition to public testing and the next phase of building infrastructure for the globally liquid trading card market.

Phemex Crypto Market Daily: Crypto Market Daily Report - Market Analysis & Insights (Sep 16)

JPMorgan Says Clarity Act Still Alive but Passage Window Is Narrow

JPMorgan analysts said the Clarity Act is “not completely dead” after failing a procedural vote in the Senate, but its chances of passing before Congress recesses at year-end are extremely slim. The analysts expect attention to shift toward SEC and CFTC rulemaking, while noting that agency rules are less durable than legislation passed by Congress.

Latin American Telecom Operator VIVA Moves Financial Infrastructure to Avalanche via Iris

Latin American telecom operator VIVA is moving part of its financial infrastructure onto the Avalanche blockchain through Iris, a new network designed to help mobile operators turn customer relationships and distribution networks into payment and other financial services. VIVA, which has operated in Bolivia for more than 25 years and recently expanded to Mexico, is the first operator to go live on Iris. It is using Agora-issued, U.S. dollar-backed stablecoin USDi to settle transactions and hold eligible operating reserves in U.S. dollars instead of local currency.

Theo Launches Yield-Bearing Tokenized Silver Product thSLVR

Onchain finance platform Theo launched thSLVR, a yield-bearing tokenized silver product backed by more than $40 million in active leases. The token gives holders exposure to silver prices while generating income from lending the underlying silver to institutional borrowers. Theo said the silver backing thSLVR will be leased to established institutional counterparties on standard market terms, with credit exposure supported by a parent company guarantee. The product is initially available in beta to institutions and whitelisted investors.

Arcee AI Completes $150 Million Series B at $1 Billion Pre-Money Valuation

Enterprise AI startup Arcee AI has completed a $150 million Series B funding round at a $1 billion pre-money valuation. Vista Equity Partners, Cambium Capital, and Emergence Capital led the round, which also included Microsoft’s M12, AI10 Ventures, Hitachi, IAG, P7, and Wipro. Founded in 2023, Arcee initially focused on fine-tuning and optimizing existing models before shifting to building open-weight models from scratch. The company will use the funding to develop new open-weight models and products, expand its collaboration with the U.S. Department of Energy, and work with Vista’s portfolio companies.

Zijin Mining Unit to Invest $140 Million in AI-Focused Venture Fund

Zijin Mining said its wholly owned subsidiary Zijin Xiamen Equity plans to subscribe 1 billion yuan ($140 million) as a limited partner in Xiamen Shidai Shenyuan Venture Capital Fund. The fund has total subscribed capital of 4.9 billion yuan, with Zijin Xiamen Equity holding a 20.4081% subscribed share. It will mainly invest in artificial intelligence, embodied intelligence, technology applications and frontier technology sectors.

Flamingo Finance Exploited for About $345,900 via Flash Loan Attack

Flamingo Finance suffered an attack in which the exploiter generated approximately $345,900 USDT in profit. The attacker borrowed about $18 million USDT through Morpho flash loans, staked Curve USDP LP into Strategy during the transaction to inflate the VaultYUSDT share price, and then redeemed aUSDT liquidity.