A Trump family representative is reportedly in discussions with Binance.US to buy a stake in the cryptocurrency exchange. The stake, according to people familiar with the matter, could be acquired through the Trump-family backed crypto project World Liberty Financial.

The U.S. Senate Banking Committee has voted 18-6 to advance a landmark stablecoin bill that would regulate U.S. stablecoin issuers at a federal level. 

Ethereum developers plan to deploy a new testnet, Hoodi, on Monday to validate the upcoming Pectra upgrade after two problematic test runs, Tim Beiko of the Ethereum Foundation announced. 

Top stories in the Crypto Roundup today:

• Abu Dhabi-Based MGX Invests $2 Billion in Binance
• US Senate Banking Committee Advances Landmark Stablecoin Bill
• Ethereum Developers Launch New Testnet to Finalize Pectra Upgrade

Trump Family Discussed Buying Stake in Binance.US: Report

A Trump family representative is reportedly in discussions with Binance.US to buy a stake in the cryptocurrency exchange. The stake, according to people familiar with the matter, could be acquired through the Trump-family backed crypto project World Liberty Financial.

The talks, which began last year, are said to have involved Steve Witkoff, a friend of the U.S. president, who, with his family, founded World Liberty Financial two months before Trump won the U.S. elections.

Former Binance CEO Changpeng Zhao said that the original report “got the facts wrong,” while a representative for the exchange declined to comment. The talks reportedly started after Binance reached out to Trump’s inner circle to reach a deal that would allow the exchange back in the U.S.

The report comes after Binance.US brought back its fiat currency services, allowing users to deposit and withdraw in USD, and after Binance took an institutional investment from Abu Dhabi-based investment firm MGX.

US Senate Banking Committee Advances Landmark Stablecoin Bill

The U.S. Senate Banking Committee has voted 18-6 to advance a landmark stablecoin bill that would regulate U.S. stablecoin issuers at a federal level. 

The landmark bill now needs to pass by the overall Senate, while a similar version of it will go through the House of Representatives. While some lawmakers opposed the bill, Senator Elizabeth Warren was among the most vocal, arguing it fails to protect consumers and the economy and would instead allow tech billionaires to launch their own dollar-based stablecoins, furthering their power.

The bill’s proponents, however, argue that it has safeguards built in, including one-to-one reserves to back the stablecoins, and would make these tokens harder to use by criminals by bringing the industry under U.S. regulations.

Treasury Secretary Scott Bessent and U.S. President Donald Trump have argued that stablecoins could further the U.S. dollar’s dominance. These drive up demand for the currency, as they’re backed by it and by short-term government debt and other cash equivalents.

Ethereum Developers Launch New Testnet to Finalize Pectra Upgrade

Ethereum developers plan to deploy a new testnet, Hoodi, on Monday to validate the upcoming Pectra upgrade after two problematic test runs, Tim Beiko of the Ethereum Foundation announced. 

The Pectra upgrade will be tested on Hoodi starting March 26. Pectra introduces several changes aimed at making Ethereum faster and more efficient. One key feature adds smart contract functionality to user wallets, allowing them to pay transaction fees in tokens other than ETH. 

The new testnet follows failed trials on Ethereum’s Sepolia and Holesky test networks. Configuration errors prevented proper testing, and in Holesky’s case, the network was down for weeks. 

Testnets like Hoodi mimic the Ethereum mainnet but operate without real monetary value, allowing developers to troubleshoot before full deployment. If the Hoodi test succeeds, developers could roll out the upgrade to the Ethereum mainnet within 30 days.

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