The Daily: Senate unveils updated market structure bill, YZi Labs invests in Genius Trading as CZ joins as advisor, and more

The daily crypto news roundup highlights several key developments. First, Senate Banking Committee Chair Tim Scott unveiled an updated bipartisan crypto market structure bill that bans interest-like rewards for simply holding stablecoins, allowing them only for user activity like transactions or staking, a compromise following debates between banking groups and crypto firms. Second, YZi Labs, the family office of Binance co-founders CZ and Yi He, made a "multi-8-figure" investment in Genius Trading, a privacy-focused trading terminal, with CZ joining as an advisor. Other news includes privacy protocol Zama launching a token sale at a $55 million FDV, a Kraken-linked SPAC filing for a $250 million Nasdaq IPO, and Bernstein raising its price target on Figure Technology Solutions, naming it a 2026 "best idea."

(Source：The Block)