Senators rethink stablecoin rules, OKX and Justin Sun clash, and Warren Buffett plans to retire.
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Introduction:
Today’s crypto news is full of action. Some U.S. senators are changing their minds about a new stablecoin law. Meanwhile, two big names in crypto are arguing online. And Warren Buffett, a famous investor, says he’s stepping down soon.
Senators Say “Not Yet” to Stablecoin Law
A group of U.S. senators who usually support crypto now say they won’t back a new stablecoin bill unless it’s changed. This bill, called the GENIUS Act, was introduced by Senator Bill Hagerty. It aims to set rules for stablecoins in the U.S. But nine senators, including Ruben Gallego and Mark Warner, feel the bill still has problems. They won’t vote for it unless those issues are fixed.
OKX and Justin Sun Disagree Over Frozen Funds
Justin Sun, the founder of Tron, accused the crypto exchange OKX of not freezing stolen funds after a hack. He said he sent a “freeze notice” to OKX but got no response. OKX’s CEO, Star Xu, replied that they didn’t receive any official request and can’t freeze funds based on social media posts. He emphasized that OKX follows legal procedures and needs proper communication from law enforcement.
Warren Buffett Plans to Step Down
Warren Buffett, the long-time CEO of Berkshire Hathaway, announced he will retire by the end of 2025. He wants Greg Abel, the company’s vice chairman, to take over. Buffett shared this news during the company’s annual meeting, saying it’s time for Abel to lead. The board of directors still needs to approve this change, but Buffett believes they’ll agree.
Also Read: Binance Brings Crypto Payments to Kyrgyzstan
