England ended the opening day of the Perth Test with renewed Ashes hope after a ferocious fast-bowling display redeemed a disastrous batting collapse. Ben Gardner reflects on a chaotic day of extremes. How quickly things can change. At around 6am, when those who decided not to brave the first ball began to wake, the texts rolled in. ‘Ashes already done, awful start,’ read one. ‘Had a little hope, gone!” was another. A third, simply: ‘FFS’. And somehow, England end day one on top, leading by 49 with one wicket left to take. England’s post-sunrise excellence almost feels like an affront to those who had to sit through the darkness before the dawn, but it will also make the next all-nighter worth staying up for. At the time, the early decrees of doom were hard to dispute, because England fans have been here before so often, the hope proven false in a flash, and because this felt like their best chance squandered. After Scott Boland’s first over, it felt as if Mitchell Starc would need to do most of the work himself. Unfortunately for England, he did so. His 7-58 were career best figures to take him past 100 Ashes wickets. Among modern bowlers, only Bob Willis, Dennis Lillee, Glenn McGrath and Shane Warne have more Ashes scalps at a lower average. Without Pat Cummins and Josh Hazlewood, England were hoping to exploit an attack shorn of two of the Big Three. Instead, Starc stood tall as the Big One, seizing a day that will rank alongside World Cup wins in every format, right at the top of a career decorated with highlights. This was the game England had to win, and it’s still a game they could win. So unlikely did that feel halfway through, the analysis already felt there to be written. Here’s a sneak peek at what would usually be on the scrapheap: “What was the worst bit? To begin with, it was how simply Australia’s plans fell into place. Mitchell Starc tempted Zak Crawley to drive, and while he just about resisted attempting to recreate his first-ball boundary in the 2023 series, it only took six balls for the edge to be found. For Ben Duckett, it was full and straight that did the trick. “Ollie Pope and Harry Brook counterattacked through Plan A, but were quickly undone by Plan B. Cameron Green has Pope’s number, having dismissed him three times in 26 balls in Test cricket, his awkward release making even his bad balls dangerous. Pope was pinned lbw trying to work away a leg-stump yorker four balls into their battle. It took one fewer delivery for the short ball ploy to do for Brook, remembering Australia’s Big Boundaries too late to properly pull out of a full-blooded hook shot, and instead gloving behind. “Still, if it had all felt a bit too easy for Australia to that point, it was about to get easier. Brook was the sixth wicket to fall, in the 30th over. By the end of the 33rd, England were all out, the last three perishing attempting what Brook had tried to avoid, caught in the deep on the leg-side. England were questioned for warming up with this series with three ODIs in New Zealand, and the worries were only heightened by their struggles with the bat, whitewashed and failing to make it into the 41st over at any point. Their effort here was shorter than any of those three. It was also England’s shortest completed Test innings under Brendon McCullum’s stewardship. They had their worst batting day at the worst possible moment. “A run rate in the fives but all done in a session and a half. Dismissals that ranged from the avoidable to the lamentable. Conditions which were tough and required application, but not such a lottery that survival was impossible. This was the disaster Bazball’s critics say happens much more frequently than it actually does, but this series will also go a long way to deciding how Bazball is remembered.” ALSO READ: Bazball’s arrived, they forgot the brains Michael Vaughan laments ‘all too predictable’ England collapse in Ashes opener How much of that remains true? Perhaps plenty. And yet the flipside of England’s approach is that, even in their car crashes, they’re driving so quickly they end up getting some way towards their destination. At the equivalent stage inside 30 overs, both sides had lost five wickets but England had double the runs. England’s five seamers had combined to roughen and rattle Australia, and while Steve Smith and Marnus Labuschagne survived for a time as much by chance as by grit, they were hardly better off for it. England’s quicks were superb, justifying the decision to go without a spinner by each bringing something different. It took Jofra Archer two balls to show off his devastating ability against left-handers, Jake Weatherald’s first Test innings ending flat on his front. It will get easier at some point, but maybe not this series. With Usman Khawaja taking an ill-timed toilet break, Smith and Labuschagne were joined inside the first over, but were tied down by Archer and Gus Atkinson, the latter metronomic and unlucky. After Archer bowled Labuschagne off the elbow, it was Brydon Carse’s turn, Smith and Khawaja nicked off with two rip-snorters. Then the captain took centre-stage, claiming the day’s last five wickets, fielders always in just the right place, Australia outthought and outgunned. England’s management deserves plenty of credit here. The decision to pension off James Anderson remains unpopular, but with him around, game time for Atkinson and Carse would have been limited. The fitness of Jofra Archer and Mark Wood has been well managed, particularly the former, who, if not valued and handled delicately, could easily have been lost to the format altogether. Instead he looks every inch the worldbeater he was in 2019. And then there’s the captain himself, bowling as well as he ever has, looking as fit as he ever has, triceps bulging through his sleeves to claim a first Ashes five-for in a decade. England with the bat witnessed the good and bad of Bazball, while the bowling attack, surely England’s fastest ever, reaped the rewards of 18 months’ planning and brave calls. One day in, English hope remains. Their fans know too well that even that small victory is all too rare.
https://www.wisden.com/series/the-ashes-2025-26/cricket-news/saved-from-the-scrapheap-bazball-proves-more-good-than-bad-to-give-england-ashes-hope
Monthly Archives: November 2025
Palantir stock hit by monster insider trading activity
Palantir (NASDAQ: PLTR) shares fell sharply on Thursday amid heightened insider selling activity, with regulatory filings showing that multiple senior executives, including Co-founder and CEO Alex Karp, have proposed significant share disposals. PLTR stock closed at $155. 74, down 5. 85% (-$9. 68), and continued its decline in pre-market trading on Friday, changing hands at $154. 58 (-0. 75%) as of writing. The timing of the sales occurring just after a strong earnings quarter and during a period of elevated market optimism toward AI-related companies has raised investor concerns over leadership’s confidence in the near-term valuation. According to a Form 144 filed with the U. S. Securities and Exchange Commission on November 20, 2025, Alex Karp filed to sell 585, 000 Palantir shares, representing an aggregate market value of approximately $95. 93 million, at an estimated sale price of $163. 99 per share. The filing identifies Morgan Stanley Smith Barney LLC Executive Financial Services as the broker responsible for executing the transaction. The proposed sale date is listed as November 20, 2025, with the shares currently registered for trading on the NASDAQ exchange. Palantir insider trading Insider trading disclosures reviewed alongside the SEC filing indicate that Karp was not the only executive preparing to offload shares. Four other senior officers Stephen Cohen, Ryan Taylor, David Glazer, and Shyam Sankar each filed proposed stock sales on the same date, also at the $163. 99-per-share reference price. Collectively, the group has signalled intent to sell over 1. 26 million shares, representing a combined market value of more than $205 million. Cohen’s filing reflects the second-largest transaction at roughly 405, 000 shares valued at $66. 41 million, while Sankar is set to sell 225, 000 shares worth $36. 90 million. The consistency in pricing and timing suggests a coordinated liquidation, possibly tied to scheduled options exercises or rolling executive sell-down programs, but the scale has nonetheless drawn market attention. Technically, Palantir’s stock has now broken below its immediate support near the $160 region. Should selling persist, traders warn of potential further pullbacks toward $150, while a recovery above $165 would be required to restore bullish positioning. With insiders signalling significant proposed liquidation ahead of the year-end lock-up expiration window, volatility is likely to remain elevated over the short term.
https://bitcoinethereumnews.com/finance/palantir-stock-hit-by-monster-insider-trading-activity/
Bitcoin, Ethereum, XRP & More Crash Hard – What’s Next?
Crypto Crash: Everything Is Bleeding At Once The entire risk market is in “risk off” mode. itcoin is trading around $82,000-83, 000, total crypto market cap has dropped sharply toward $2. 8 trillion, and even the SPX500 is rolling over. On the heatmap of the top coins, almost every crypto is flashing red. Bitcoin, Ethereum, XRP, BNB, Solana, Dogecoin, Cardano and Hyperliquid are all down markedly over the past week, with only the stablecoins holding their peg. This is not just “a Bitcoin dip” it’s a broad deleveraging event where: Crypto market cap is breaking below a key support zone Bitcoin is testing a crucial support band around $80,000 SPX500 is under pressure, signalling global risk aversion Let’s break down the charts and then look at each major coin. Crypto Total Market Cap: Support Break With Oversold Signals On the total market cap chart, the market recently traded around $3. 16T and is now sitting closer to $2. 81T. That old $3. 1-3. 2T area acted as a horizontal support zone and price clearly broke below it. Key takeaways from the total market cap chart: Clean breakdown: The move below the green support line confirms a loss of bullish momentum across the whole market, not just BTC. Momentum washed out: The Stochastic RSI at the bottom is deep in the oversold region, signalling that the short-term move is already stretched. Liquidity exit: This kind of vertical drop usually means forced liquidations, de-risking from funds and leverage getting flushed out. Translation: the trend is currently down, but the market is already moving into a zone where short-term bounces become more likely even if the larger correction isn’t finished yet. SPX500: Macro Risk-Off Is Hitting Crypto The SPX500 chart (US equities benchmark) is also under pressure. While still relatively high compared to earlier in the year, it shows: Failure to push to fresh highs A visible pullback from resistance, with red candles clustering A clear sign that traditional markets are also taking risk off the table When stocks and crypto fall together, it usually means the driver is macro fear, not just crypto-specific news: Uncertainty around interest rates and inflation Job market data and growth concerns Geopolitical noise pushing investors into cash or safe havens So this current crypto crash is macro-aligned: traders are pulling back from all risk assets, not just Bitcoin. Bitcoin (BTC): Testing the $80K Lifeline On the BTCUSD 2h chart, price has broken down from the previous range and is trading around $82,000+. You marked two major levels: $94,200 prior range support / resistance, now a strong ceiling above $80,000 a key horizontal support and psychological level What the BTC chart is telling us: The drop from the mid-90Ks to the low-80Ks is sharp and impulsive, not a slow drift. Stochastic RSI is stuck in oversold territory, so the selling pressure has been extreme in a short period. As long as BTC stays above $80K, this can still be classified as a deep correction inside a larger bull cycle. If $80K breaks with volume, the next downside zones to watch (on higher timeframes) would be somewhere in the mid-70K or even 70K-75K region. For now, though, the market is clearly treating $80K as the last major line of defence. Ethereum (ETH): High-Beta Bleed ETH is trading around $2, 695, with: 24h: roughly -10% 7d: around -15% Ethereum is behaving like a high-beta clone of Bitcoin: When BTC falls 10-15%, ETH often falls slightly more in percentage terms. The leverage in ETH DeFi and perpetuals amplifies those moves. As long as BTC is stuck below $94K and flirting with $80K, it’s hard for ETH to decouple. Expect ETH to remain weak but reactive: sharp intraday bounces are possible, but the dominant path is still dictated by Bitcoin. XRP: Outperformer On The Way Down XRP is trading around $1. 91, with: 24h: about -9. 5% 7d: around -16% XRP’s move is slightly worse than BTC in % terms, but still within a normal altcoin reaction band: It tends to lag on the way up and catch up on the way down. The current drop shows that even large-cap alts with strong communities are not safe when BTC unwinds. If BTC pierces $80K convincingly, XRP could easily retest lower psychological levels (e. g. the $1. 50-$1. 70 band), even if its long-term structure remains intact. BNB: Still Relatively Resilient BNB trades near $821, showing: 24h: about -9% 7d: around -10% Compared to some other majors, BNB is holding up relatively well: The coin often shows lower volatility because a large share is held by long-term users and the exchange ecosystem. Still, the direction is clearly down BNB is following the market, not fighting it. If the crash deepens, BNB may continue to outperform in relative terms, but that still means red candles, just fewer and slightly smaller than high-beta alts. Solana (SOL): Momentum Coin Losing Steam SOL is trading around $126. 64, with: 24h: roughly -11% 7d: about -10% Solana has been one of the highest-beta layer-1s in this cycle, so it’s no surprise to see: Fast liquidations once sentiment flips Sharp intraday swings in both directions The current crash is mainly macro + BTC-driven, not Solana-specific, but because SOL attracted a lot of speculative capital, it’s now seeing outsized selling. If BTC holds $80K, SOL can bounce relatively aggressively. If not, a deeper retest of the $100 psychological zone would not be surprising. Cardano (ADA): Deep Weekly Drawdown ADA trades near $0. 4076, with: 24h: around -12-13% 7d: roughly -21% Cardano’s move is similar to DOGE: The weekly drawdown above 20% shows significant altcoin capitulation. Long-term believers may see this as an accumulation zone, but from a pure trend perspective, ADA is decisively bearish in the short term. As usual, ADA tends to move in slow, extended cycles. A recovery here will likely depend heavily on Bitcoin and macro sentiment, not just on Cardano news. So. What’s Next For Crypto And Stocks? Right now, the picture looks like this: TC is testing a key support region around $80K. Total market cap has broken below a major support near $3. 1T and is hovering around $2. 8T. SPX500 is also weakening, confirming that macro risk-off is in play. Most majors are down 10-20% over 7 days, with meme coins and high-beta alts hit hardest. Possible scenarios: Short-Term Relief Rally (If $80K Holds) Oversold Stoch RSI on BTC and total market cap supports the idea of a bounce. BTC could reclaim parts of the drop and retest the $90K-94K zone. Alts like SOL, DOGE, ADA and HYPE might see short, aggressive bounces. Deeper Correction (If $80K Breaks) A decisive close below $80K could open the door to mid-70K or even 70K-75K. Altcoins could suffer another 10-20% drawdown, especially the speculative ones. Market cap might slide further below $2. 8T, extending the correction phase. Macro Drives The Narrative.
https://bitcoinethereumnews.com/bitcoin/bitcoin-ethereum-xrp-more-crash-hard-whats-next/
Happy Birthday Ryan Miller (Guster)
Happy birthday Ryan Miller (Guster). One day you’ll be a man, one day you’ll understand. Cover photo for MAGNET by Gene Smirnov. (Watch a video from the shoot below.) Watch our MAGNET television episode with Ryan:.
https://magnetmagazine.com/2025/11/21/happy-birthday-ryan-miller-guster/
Bundesbank Pitches Phase-in To Salvage Banks’ AT1 Debt Overhaul
The Bundesbank is proposing giving European banks more than five years to overhaul how they use additional Tier 1 debt, as it seeks to salvage a controversial proposal to streamline banks’ capital structure. “To get to that ideal world we described, you need a transitional period,” Executive Board member Michael Theurer said in an interview. “It would need to be more than five years, given a change like this. You have to calibrate the capital requirements in a way that there is no additional need for capital in the system.”.
https://www.bloomberg.com/news/articles/2025-11-21/bundesbank-pitches-phase-in-to-salvage-banks-at1-debt-overhaul
Triple H issues bold public statement ahead of WWE Survivor Series: WarGames
WWE’s chief content officer Triple H has dropped a massive statement ahead of Survivor Series: WarGames. This comes after a huge and chaotic brawl at the end of RAW last Monday in New York City.
https://www.sportskeeda.com/wwe/news-triple-h-issues-bold-public-statement-ahead-wwe-survivor-series-wargames
The Kid Whisperer: How to teach a kid to not use hurtful words
Dear Kid Whisperer, I’m a sixth-grade teacher. My teaching partner has a student who has always been hard, these last couple weeks especially. He’s had to practice a lot lately. Instead of writing his name on his assignment, he wrote an offensive word. He already had a talking-to about using this specific word last year. How would you address this? Answer: Woe be unto the teacher who warns and/or lectures kids about their serious or chronic behaviors. We call it “Warning Therapy.” More on that in a moment. First, teachers need to understand that they are not like most people. Teachers tend to be adults who liked school more than most people. I know this because teachers all took a job that involves them spending an extra 30 years in school. People who enjoyed school are (generally) agreeable people who, when told not to do something by a teacher think, “Well, this person seems like they have my best interests at heart, so I’ll stop doing the thing they want me to stop doing.” When these agreeable people become teachers, they have a hard time understanding kids who don’t just do as they are told. Thank goodness you have me. I am a disagreeable person. I became a teacher because I hated school, and I wanted to make school better for kids. I identify with this kid because I was this kid who you are talking about. My wife would say that I still am that kid who you’re talking about. Kids like this kid (and me) will not improve their behavior when you apply Warning Therapy. That means that when a difficult kid hears a warning or a lecture, but the teacher takes no action, that kid gets the following message: “You can do that behavior at least one time and I’m not going to do anything about it, so please continue, and perhaps experiment, just for funsies, with doing it twice.” Kids don’t really listen when we talk, but they do tend to notice when we act. We should set a limit once and then follow through with a Delayed Learning Opportunity prefaced with love and empathy. Here’s how I would do it with this student at a non-instructional time with no other kids around. It will occur sometime after I have delayed this opportunity to learn later. Here’s what happens later: Kid Whisperer: Dude. Oh, dude. You are really struggling with remembering not to use really mean words on your papers. Kid: Whatever! I’ll write whatever I want! Kid Whisperer: I think this might be partially my fault. I talked to you about this, but I didn’t give you a chance to learn about why this word is so hurtful, and why it isn’t allowed to be used in school. I’m sorry about that. Kid: Whatever! Can I just go?? Kid Whisperer: I got you these resources about why that word can be hurtful so that you know not to use it. I have a video and excerpts from books. You can read them, and watch them, and we can talk about them, and then you can write about what you learned. Once you understand why that word is a word that we don’t use in school, you will come up with a list of things that you will do or say instead of using these mean words when you feel like using them. Once you have the plan, we’ll be done with all of this. Kid: Whatever! This is stupid! Kid Whisperer: Oh, dude. I don’t argue. Here are your materials. Let me know if you need any help. At this point, this student has two choices: He can either learn one lesson or two. He could be cooperative and solve the problem that he has been asked to solve. His other option is to refuse to solve the problem. As long as we stay firm and offer the opportunity to solve the problem that he caused during most or all non-instructional time until he agrees to solve his problem, Kid will learn an even more important lesson first: that refusing a reasonable request from an authority figure doesn’t get you out of trouble and doesn’t get you what you want. No matter what he chooses to do, he will learn to be a better person through your expert instruction! ©2025 Tribune Content Agency, LLC.
https://www.chicagotribune.com/2025/11/21/the-kid-whisperer-how-to-teach-a-kid-to-not-use-hurtful-words/
Barcelona vs Athletic Bilbao Prediction and Betting Tips | 22nd November 2025
The 2025-26 edition of La Liga is back in action with another set of matches this weekend as Athletic Bilbao lock horns with Hansi Flick’s Barcelona side in an important clash at the Spotify Camp Nou on Saturday. Both teams can pack a punch on their day and will want to win this game. Thanks for the submission! Barcelona vs Athletic Bilbao Preview Barcelona are currently in second place in the La Liga standings and have been in impressive form so far this season. The Catalan giants eased past Celta Vigo by a 4-2 margin in their previous game and will look to achieve a similar result this weekend. Athletic Bilbao, on the other hand, are in seventh place in the league table at the moment and have not been at their best over the past year. The Basque outfit edged Real Oviedo to a narrow 1-0 victory last week and will be confident ahead of this fixture. Barcelona vs Athletic Bilbao Head-to-Head and Key Numbers Barcelona have a good historical record against Athletic Bilbao and have won 46 out of the last 71 matches played between the two teams, as opposed to Athletic Bilbao’s 11 victories. Athletic Bilbao were on a losing streak of three matches on the trot in all competitions before they secured a 1-0 victory against Real Oviedo in their previous game in La Liga. Athletic Bilbao have failed to find the back of the net in three of their last six matches in all competitions and have scored a total of six goals in the other three games during this period. Barcelona are unbeaten in their last three matches in all competitions, with their previous defeat coming by a 2-1 margin against Real Madrid in a La Liga match last month. Barcelona vs Athletic Bilbao Prediction Barcelona have been inconsistent this season and have several defensive issues to work on ahead of this game. Robert Lewandowski scored an exceptional hat-trick last week and will look to replicate his heroics this weekend. Athletic Bilbao can pull off an upset on their day but will be up against a formidable unit on Saturday. Barcelona are the better team at the moment and should be able to win this game. Prediction: Barcelona 3-1 Athletic Bilbao Barcelona vs Athletic Bilbao Betting Tips Tip 1: Result Barcelona to win Tip 2: Game to have over 2. 5 goals Yes Tip 3: Barcelona to score first Yes.
https://www.sportskeeda.com/football/barcelona-vs-athletic-bilbao-prediction-betting-tips-22nd-november-2025
5 Best Cryptos to Buy Now with Another Big Gains Phase Around the Corner
Market sentiment has begun to tilt toward assets that combine cultural momentum with evolving utility. Capital is flowing back into projects that either solve practical frictions or capture intense community attention, and the five names below sit squarely at that intersection. Each offers a different risk/reward profile: meme-derived tokens with infrastructure ambitions, NFT-rooted ecosystems transitioning to token-led narratives, utility-native tokens with real-world use cases, and protocols building for agentic, on-chain commerce. 1. Little Pepe (LILPEPE) Little Pepe has emerged as a textbook example of a meme project that refuses to stay one-dimensional. Little Pepe is currently in the midst of its presale, priced at around $0. 0022 in Stage 13, with over $27. 4 million raised and more than 16. 6 billion tokens sold so far. What makes this project notable is that it positions itself not just as another meme-coin, but as a Layer-2 EVM-compatible network built for fast, low-fee transactions, zero tax on transfers, and a meme-centric ecosystem. In a market crowded with tokens that promise hype but deliver little, Little Pepe’s combination of community buzz, structural utility, and a staged presale gives it a distinct vantage. Presales often allow early participants to capture asymmetric gains before a broader listing, and here the listing price is speculated to be higher. 2. Pudgy Penguins (PENGU) PENGU is now showing signs that a breakout may be building: technical momentum is aligning, with bullish structures forming and “smart money” inflows increasing. Recent on-chain activity and marketplace dynamics show episodic demand spikes that traders can exploit, and the project’s recognition in NFT circles provides a defensible narrative moat. For those who prefer exposure to culture-first crypto with a path to recurring revenue and broader adoption, Pudgy Penguins stands out as an uptrend candidate. Market listings and volume data reflect renewed trader interest. 3. Aster (ASTER) Aster presents as a mid-cap token with substantive on-chain activity and liquidity across major exchanges. The token’s market metrics point to a live ecosystem with significant circulating supply and frequent trading, attributes that matter when momentum returns to the market. Aster’s roadmap centers on expanding use cases and developer tooling that could capture real utility beyond speculative flows, and its market capitalization indicates institutional-sized attention without the blue-chip premium. For investors seeking a balance between growth potential and tradability, Aster’s profile makes it an attractive intermediate bet in a bullish regime. 4. Telcoin (TEL) Recent regulatory developments and product rollouts have put Telcoin back on the radar of macro traders looking for tokens with a plausible path to real-world revenue. The project’s emphasis on partnering with telcos and enabling low-cost remittances positions it to benefit from broader crypto-onboarding flows as compliance frameworks mature. Notably, recent updates around banking integration and regulatory milestones signal that Telcoin is moving from experimental use cases toward operational partnerships that scale. That kind of progress tends to compress downside risk and amplify upside in bull phases. 5. Virtuals Protocol (VIRTUAL) Virtuals Protocol is building a society of AI-driven agents designed to autonomously generate services, transact on-chain, and capture value through programmable commerce. The vision is ambitious: not just tokens or NFTs, but an agentic layer that creates sustained, fee-bearing activity. Token metrics show meaningful market capitalization and trading volume, which matter for any thesis that depends on liquidity and adoption. In a market rotation toward tokens that enable new classes of on-chain economic activity, Virtuals Protocol’s combination of AI, developer tooling, and a venture-style ecosystem gives it the structural upside that often powers breakout moves during the next leg up. Position Sizing and Final Perspective Each recommendation above represents a distinct route to upside: meme-to-infrastructure, culture monetization, scalable utility, payments rails, and autonomous agent commerce. In a bullish market phase, timing, momentum, utility, and narrative all matter. For investors seeking the kind of opportunities that often make headlines in a major crypto bull run, these projects merit attention. When the next wave hits, all five highlighted tokens will surge hardest, and the time to position ahead of that move may be now. For more information about Little Pepe (LILPEPE) visit the links below: Website: Whitepaper: Telegram: Twitter/X:.
https://bitcoinethereumnews.com/tech/5-best-cryptos-to-buy-now-with-another-big-gains-phase-around-the-corner/
Crypto firms call for ‘immedeate’ regulatory clarity in letter to President Donald Trump
A coalition of over 65 crypto firms, led by the Solana Policy Institute, has addressed a letter to U. S. President Donald Trump, calling for immediate executive action to clarify digital asset regulations and push forward crypto-friendly tax and enforcement policies through federal agencies. In the Nov. 20 letter, the coalition urged the administration to act swiftly on a series of targeted measures designed to ensure that “the United States remains the best place in the world to build, invest, and innovate.” The letter takes inspiration from recommendations outlined in the President’s Working Group Report on Digital Assets, which was released earlier this year, said the Solana Policy Institute, alongside crypto firms such as Coinbase, Uniswap Labs, and Exodus, among others. According to them, federal agencies like the Treasury Department, the Internal Revenue Service, the Securities and Exchange Commission, and the Justice Department can take “immediate steps” without waiting for new legislation from Congress. Clarify crypto taxation First, the group has asked Trump to clarify how staking and mining rewards are taxed by directing the Treasury to treat them as self-created property that is taxed only upon sale or conversion. Among other asks, they also called for implementing a “de minimis tax rules” such as a $600 exemption for small crypto transactions, and establishing proper definitions that clarify that activities like bridging and wrapping tokens are not taxable events. Crypto-friendly Senator Cynthia Lummis has already introduced a digital asset tax bill earlier this year that proposes similar measures, including ending the double taxation of miners and setting a lower reporting threshold, which could complement the administrative actions now being sought. Establish developer protections Next on the list is a call for greater protection of developers, especially as concerns have mounted around recent verdicts involving the creators of Samourai Wallet, who were sentenced to prison for building privacy-focused crypto tools that prosecutors linked to illicit use. A similar high-profile case involves Tornado Cash developer Roman Storm, who was convicted of operating an unlicensed money transmission business, even though his involvement was limited to publishing open-source code. The group urged the Justice Department to drop the case against Storm and recognize that “Storm’s work on Tornado Cash represents the publication of open-source software not a financial crime.” “Doing so will further support that code is speech under the First Amendment and signals that the U. S. will protect innovation,” the group said. As such, they have asked the president to “encourage the SEC’s Crypto Task Force to coordinate with the Divisions of Corporation Finance, Investment Management, and Trading and Markets to issue interim guidance, no action, and exemptive relief clarifying that developers of source-available, permissionless protocols and front-ends are not subject to enforcement while related rulemaking proceeds.” Other agendas Beyond the aforementioned priorities, the coalition has called for stronger interagency coordination to streamline how crypto is regulated across federal departments and to create consistent expectations for both builders and users. They want the SEC and the Commodity Futures Trading Commission to publicly affirm support for self-custody, and have urged the agencies to “utilize their existing authority to provide exemptive relief for digital assets and DeFi technology” in line with recommendations from the President’s Working Group Report on Digital Assets. Finally, the letter calls for updated guidance from FinCEN that would make clear the Bank Secrecy Act does not apply to noncustodial blockchain software, consistent with earlier agency positions.
https://crypto.news/crypto-firms-call-for-immedeate-regulatory-clarity-in-letter-to-president-donald-trump/