The Daily: ‘The DAO is back!’ Tether rebuffs stablecoin yield claims, Senate Agriculture Committee advances crypto bill, and more
Bitcoin slumped amid a crypto downturn as Ethereum dev Griff Green relaunches The DAO for security, Tether denies yield stance, and the Senate advances a crypto bill.Summary
The daily crypto update notes Bitcoin's slump to a two-month low amid significant liquidations. Key developments include Ethereum developer Griff Green announcing the return of 'The DAO' using unclaimed 2016 hack funds to establish TheDAO Security Fund, which will stake 75,000 ETH to finance ongoing security operations, curated by experts like Vitalik Buterin. Meanwhile, Tether CEO Paolo Ardoino refuted claims that Tether sides with banks on stablecoin yield restrictions, stating USDT does not distribute yield to users, thus they have no stake in the legislative debate. Separately, the Senate Agriculture Committee advanced its digital asset bill in a party-line vote, despite Democratic concerns over Donald Trump's crypto ties. The SEC also clarified that tokenized securities remain subject to existing federal securities laws, and OpenAI is reportedly exploring using World's Orb technology for human verification on its planned social network.
(Source：The Block)