Crypto Daily: Gate.io Enters US Market, a16z Warns on New Bill, and an $8B Corporate Buying Spree

The crypto market never sleeps, and today was a perfect example of its dynamic and often contradictory nature. While one major exchange expanded its services into the United States, a leading venture capital firm raised red flags about pending legislation. At the same time, corporate treasuries signaled immense confidence, committing billions to crypto assets. Here’s what happened in crypto today, a day of major moves in regulation, adoption, and institutional investment.

Gate.io Launches Spot Trading Services in the United States

In a significant move for American crypto traders, global exchange Gate has officially launched spot trading services in the United States. Founded in 2013, the exchange has historically been unavailable to US customers, but it is now re-entering the market, citing improved regulatory clarity as a key driver for the expansion.

This is big news for traders seeking more options. As of this week, Gate offered an impressive variety of over 3,800 trading pairs on its platform, one of the largest selections in the industry. The exchange boasts a formidable 24-hour spot trading volume of $6.8 billion, according to CoinMarketCap data.

Initially, Gate will focus on providing crypto-to-crypto trading pairs for its US user base. However, the company has announced ambitious plans for the near future, including:

• Introducing fiat on-ramps and off-ramps.
• Adding support for custodial wallet services.

Gate’s return to the US market is part of a broader trend of crypto companies re-engaging with the country as the regulatory fog begins to lift, signaling a potentially new era of growth and competition among exchanges.

Andreessen Horowitz Warns of ‘Dangerous Loopholes’ in Draft US Crypto Rules

While some celebrate regulatory clarity, others are urging caution. Prominent venture capital firm Andreessen Horowitz (a16z) has publicly called on US lawmakers to revise a draft crypto regulation bill, warning that it could create serious risks for investors.

In an open letter to the US Senate Banking Committee, a16z expressed concerns about the discussion draft that builds on the 21st Century Financial Innovation and Technology Act (CLARITY Act). The firm’s primary concern revolves around the proposed definition of “ancillary assets.”

In simple terms, an ancillary asset refers to a token sold as part of an investment contract that gives the buyer no equity, dividends, or governance rights. According to a16z, this framework is flawed.

“The ancillary asset construct should not serve as the foundation for legislation without significant modifications,” the letter stated.

The venture capital giant argues that this approach fails to solve core market issues and would be incompatible with the Howey test, the long-standing legal precedent used to determine whether an asset qualifies as a security. The letter serves as a powerful reminder that the path to comprehensive and effective crypto regulation is still under intense debate.

Corporate Crypto Treasuries Plan an $8 Billion Buying Blitz

Shifting from regulation to accumulation, corporate treasuries have made headlines this week with plans to purchase a staggering $7.8 billion worth of crypto assets. An analysis of 16 recent company statements reveals a massive wave of institutional buying, with altcoins—particularly Ethereum—emerging as a popular target.

Some of the most notable moves include:

• Tron Inc.: The entity linked to Justin Sun’s Tron blockchain announced a plan to raise $1 billion to purchase its native token, TRX.
• YZi Labs: A firm connected to Binance co-founder Changpeng Zhao helped launch a BNB buying initiative with a $500 million deal.
• Strategy: The institutional powerhouse continues to lead the Bitcoin charge, scooping up an additional $2.5 billion in BTC using proceeds from its latest stock offering.

Despite the growing interest in altcoins like Ether (ETH), Bitcoin (BTC) still commanded the largest share of the total buying volume. However, this aggressive, one-directional strategy doesn’t come without risks. Will Owens, an analyst at Galaxy Research, noted that the sector “is becoming increasingly crowded.” He warned that crypto treasury companies “can become structurally fragile” if hundreds of firms all make the same bullish bet simultaneously, creating potential instability down the line.