Kamis, 14 Mei 2026

Senate confirms Kevin Warsh as Fed chair


Prediction markets get a compliance break as CFTC eases reporting rules	͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏	View in browser

May 13, 2026

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Today’s top stories

⚖️ Democrats raise alarms over Fed independence under Warsh
🏛️ Federal-state fight intensifies over who regulates event contracts
⚖️ Record illicit crypto flows and rising compliance pressure renew centralization debate
📰 Keep reading for all of today’s biggest headlines

Senate confirms Kevin Warsh to lead Federal Reserve

The US Senate confirmed Kevin Warsh as the next chair of the Federal Reserve and a 14-year governor, largely along party lines, as he succeeds Jerome Powell. Democrats raised concerns that Warsh could face pressure from President Donald Trump and that the Fed’s independence could be weakened, a worry that could ripple through markets amid uncertainty over future interest rates. The confirmation comes as the Senate Banking Committee moves toward marking up a major crypto market structure bill, with Warsh having previously called Bitcoin a “transformative” technology.

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Tether’s T3 Crime Unit says it has frozen $450M in suspected illicit crypto

Tether’s T3 Financial Crime Unit—a joint initiative with Tron and TRM Labs—says it has helped freeze more than $450 million in crypto tied to suspected illicit activity since launching in 2024, working with law enforcement across 23 jurisdictions. The group focuses on USDT on the Tron blockchain and claims it can freeze funds within 24 hours in urgent cases, with 2025 interceptions up 43.9% year over year. The update comes amid rising compliance pressure on stablecoins as TRM estimates illicit crypto flows hit a record $158 billion in 2025, even as questions remain about how T3’s figures relate to Tether’s broader freezing activity and concerns about centralization.

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CFTC no-action letter eases event contract reporting rules

The CFTC’s market and clearing divisions issued a no-action letter granting relief from certain swap data reporting and recordkeeping requirements for fully collateralized event contracts on prediction markets, allowing some transactions to be reported directly to the agency. While these binary event contracts can technically be treated as “swaps,” the CFTC argued they resemble futures and options more closely, and named 19 platforms including Polymarket, Kalshi, and Gemini Titan. The move aims to reduce compliance complexity as the CFTC continues a widening fight with state gambling regulators over whether prediction market contracts are federally regulated derivatives or state-regulated gambling products.

The structural mismatch can sink profitable Bitcoin miners

Bitcoin mining operations face a critical vulnerability: while power and hardware bills are paid in fiat, their only revenue is BTC. Miners can run a flawless operation but still go into the red during settlement if the market drops.

Traditional commodity producers manage pricing risk using established financial tools. Miners lack comparable safety nets. NiceHash’s stablecoin-denominated hashrate marketplace could be the vital solution to this problem.

Buyers and sellers price and settle computing power directly in dollar-linked assets. Market participants separate daily operational costs from pure price speculation.

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Who supports CLARITY on the US Senate Banking Committee?

The Senate Banking Committee is set to mark up the crypto market-structure “CLARITY Act” on May 14, after months of delays tied largely to a fight over whether stablecoins can pay interest-like rewards. Crypto and banking lobby groups appear to have reached a compromise—barring passive, deposit-like “interest” while allowing other rewards—but the bill still faces risks from amendments, procedural votes, or even a lack of quorum.

Support on the committee is led by a deep bench of pro-crypto Republicans, including Chair Tim Scott, plus senators like Mike Crapo, Mike Rounds, Thom Tillis, Bill Hagerty, Cynthia Lummis, and others—many of whom backed related measures like the GENIUS stablecoin bill and resolutions curbing IRS DeFi reporting. On the Democratic side, backing is more mixed: Angela Alsobrooks and Ruben Gallego are described as constructive, while Catherine Cortez Masto, Mark Warner, Raphael Warnock, and Andy Kim are seen as conditional dealmakers focused on anti-money laundering, consumer protection, and ethics. Strong opposition is expected from crypto skeptics including Elizabeth Warren, Jack Reed, Chris Van Hollen, and Tina Smith, with Lisa Blunt Rochester viewed as a potential swing vote.