Stablecoin Bill Advances; Coinbase USDC Pay; $225M Seized

This week’s crypto digest covers mixed market moves and major regulatory and corporate developments. Bitcoin traded between $104,000 and $106,000, finding support at its 50-day SMA after correcting from above $110,000. Many altcoins saw deeper pullbacks. In Washington, the US Senate passed the bipartisan GENIUS Act for stablecoin regulation, imposing consumer protections, transparency rules and a ban on Congressional profits; the bill now moves to the House. Coinbase launched “USDC Pay,” enabling merchants like Shopify to accept USDC via its Base Layer 2 network with familiar card-like settlement. Meanwhile, the US Secret Service filed a civil forfeiture complaint to seize over $225 million in crypto tied to investment fraud—the largest in its history, with Tether’s cooperation reported.