Odaily reported that the U.S. House Ways and Means Committee will hold a hearing on cryptocurrency taxation next week, with seven draft bills currently circulating within the committee. These drafts aim to establish clearer rules on stablecoins, staking, mining, and tax exemptions for certain small transactions.

Over the past year, the U.S. Congress has focused on advancing cryptocurrency regulation, including frameworks for stablecoins and market structure legislation such as the "Clarity Act." As discussions on the regulatory framework progress, digital asset taxation has emerged as a new focal point.

Some drafts aim to reduce the compliance burden for everyday cryptocurrency payments. For example, Senator Cynthia Lummis has previously proposed exempting crypto transaction gains or losses under $300 from taxation and clarifying that lending digital assets does not constitute a taxable event. The House has also suggested exempting capital gains tax for compliant U.S. dollar stablecoin transactions under $200.

The Digital Chamber, an industry organization, expressed its eagerness to work with lawmakers to refine the drafts and provide clearer, fairer tax rules for digital assets.

Odaily reported that, according to AXIOS, US Middle East Envoy Steve Witkoff and Jared Kushner traveled on Thursday to the Oak Ridge National Laboratory in Tennessee to consult with a team of technical experts who may play a role in nuclear negotiations with Iran. The White House is currently seeking to establish a Memorandum of Understanding (MOU) with Iran to end the conflict and initiate in-depth nuclear talks, and hopes to have experts on standby when negotiations begin. According to US officials involved in mediation and regional sources, the US and Iran still disagree on several details of the MOU. Sources described the negotiations as being in their final stages, but it remains unclear whether an agreement will ultimately be reached. One US official stated, "The meeting in Oak Ridge does not mean an agreement is imminent, but it signals that the talks have entered a very serious phase, with a high likelihood of reaching an agreement, and we want to be prepared." Additionally, two US officials confirmed that they and Kushner are visiting the Department of Energy facilities in Oak Ridge. These two US officials stated that a team of approximately 100 experts has been recently assembled to participate in nuclear talks once a preliminary agreement is reached. The envoy's trip was specifically to meet with members of this team and discuss preparations for a potential nuclear agreement. (Jin Shi)

Odaily: Spot gold has erased all of its gains for the year, following U.S. employment data that strengthened market expectations of a Federal Reserve interest rate hike. (Jin Shi)

Odaily reported that U.S. President Trump stated today during remarks on Air Force One that he hopes to see interest rates lowered, but he will leave the decision on rates to Federal Reserve Chair Waller. Trump noted that the country is in good shape and the market should rise. He also emphasized that he does not mind if Waller cuts rates, and he will leave the decision on a rate cut at the October meeting to Waller. When asked about Iran and oil prices, Trump said the U.S. has achieved great success with Iran and that Iran currently does not have the conditions to possess nuclear weapons. Regarding oil prices, he stated that the government has multiple options. Additionally, Trump disclosed that he has arranged a meeting with artificial intelligence companies, which may visit the White House next week. (Jinshi)

Odaily reports that whale "Set 10 Big Goals First" has shared a screenshot showing an unrealized profit of $3.62 million on a 4x long Bitcoin position.

According to MSX.COM data, U.S. stock markets continued their decline, with the Nasdaq dropping 3.00%; Tesla (TSLA.O) fell over 5% intraday.

Odaily reported that according to data from MSX.COM, Micron Technology's stock price fell by 10.24%, dropping below $900 to $892.8 per share, with a total market capitalization of $1.01 trillion.

According to MSX.COM data, the Philadelphia Semiconductor Index once widened its decline to 7%, with Nvidia (NVDA.O) recently falling 4.5%, ASML (ASML.O) down 4.65%, and TSMC (TSM.N) dropping 5.22%.

Odaily reports that according to Hyperbot data, Machi Brother's long position was partially liquidated. His current remaining position is only a $229,000 ETH long position, with just $11,000 left in the account.

According to on-chain analyst Ai Yi monitoring, the liquidation was triggered after the ETH price fell below $1,565. Address 0x34d…c4ac1 has been liquidated for 15,131 ETH, which was converted into $22.6 million to repay the loan. The latest liquidation prices for the two addresses are now updated as follows:

Address 0xc3f…931e4 borrowed 58,031.84 ETH, with a liquidation price of $1,555.04;

Address 0x34d…c4ac1 borrowed 31,537.26 ETH, with a liquidation price of $1,458.02.

According to CNN, a senior Iranian official said on Friday that any potential peace agreement between the U.S. and Iran hinges on the Trump administration agreeing to unfreeze $24 billion in Iranian assets. The official warned that if the U.S. resumes military operations, it would be "stepping onto a dark path." When asked about a possible meeting between Trump and Mojtaba, he stated, "That will not happen. We are currently in the first phase of negotiations, and Trump has brought the talks to a standstill." (Golden Ten)

Odaily Planet Daily News: According to on-chain analyst EmberCN monitoring, a leveraged whale has been liquidated for 15,042 ETH to repay 22.15 million USDT.

Odaily reported that OKX market data shows Bitcoin has fallen below $60,000, currently trading at $59,855, marking its lowest point since October 14, 2024. (Previously, on February 6 this year, it briefly touched $60,000)

Coinglass data indicates that over the past 4 hours, total liquidations across the network reached $8.1 billion, with long position liquidations at $4.24 billion and short position liquidations at $3.86 billion. Among these, Bitcoin liquidations over the past 4 hours amounted to $162 million.

Odaily reported that, according to CNN, a potential U.S.-Iran agreement depends on whether the U.S. agrees to release $24 billion in frozen Iranian assets. (Jin Shi)