PRESIDENT Ferdinand R. Marcos, Jr. on Monday inaugurated a road link connecting key corridors in Metro Manila, framing the project as a way to curb fuel consumptionPRESIDENT Ferdinand R. Marcos, Jr. on Monday inaugurated a road link connecting key corridors in Metro Manila, framing the project as a way to curb fuel consumption

Marcos launches Cavitex-C5 Link as House minority calls for clear action

2026/03/30 21:27
6 min read
For feedback or concerns regarding this content, please contact us at crypto.news@mexc.com

By Chloe Mari A. Hufana and Erika Mae P. Sinaking, Reporters

PRESIDENT Ferdinand R. Marcos, Jr. on Monday inaugurated a road link connecting key corridors in Metro Manila, framing the project as a way to curb fuel consumption by easing congestion as higher global oil prices strain households and businesses.

The two‑kilometer Manila-Cavite Toll Expressway (Cavitex)-C5 Link Segment 3B is expected to cut travel time between Parañaque City and Taguig City to about 15 minutes from as long as 90 minutes, reducing stop‑and‑go traffic that increases fuel burn and vehicle operating costs.

“This will result in significant savings on gasoline and fuel,” Mr. Marcos told reporters in Filipino, according to a transcript released by the Presidential Palace.

The Philippines, a net oil importer, remains vulnerable to supply disruptions stemming from the Middle East war. Local fuel prices have been climbing since the war involving Iran erupted, with energy officials warning that elevated prices could persist.

The toll segment is expected to serve about 36,000 vehicles daily and divert traffic from secondary roads linking southern Metro Manila. To ease immediate cost pressures on motorists, the President said the entire CAVITEX network would remain toll‑free until the end of April, citing increased travel during Holy Week.

“There will be no toll here for the time being,” he said. “This is to give consideration to our fellow citizens using the road, especially with Holy Week underway and many people traveling.”

Mr. Marcos linked the project to his administration’s broader response to surging fuel costs under the Unified Package for Livelihoods, Industry, Food and Transport, or UPLIFT, which supports infrastructure and transport interventions aimed at softening external shocks.

Last week, the President placed the Philippines under a one‑year state of national energy emergency, issuing Executive Order No. 110 to address what his administration described as an “imminent danger” to fuel supply and economic stability. The order created an inter‑agency UPLIFT committee to coordinate energy, agriculture and transport responses.

Malacañang said the country is expecting the arrival of 1.04 million barrels of diesel this week to strengthen fuel buffers. The delivery follows efforts to diversify supply, including commitments from Indonesia on coal shipments and recent inflows of Russian crude.

Surging fuel prices have fed through to food and transport prices, intensifying inflationary pressures and weighing on economic growth. The peso has also weakened sharply, breaching the P60‑per‑dollar level after the conflict began.

To cushion vulnerable sectors, the government has rolled out fuel and cash subsidies for transport workers and low‑income households. Mr. Marcos also signed into law Republic Act No. 12316, granting him authority to cut or suspend fuel excise taxes, though Malacañang has said implementation remains under review.

‘NOT ENOUGH’
Meanwhile, members of the minority bloc in the House of Representatives have floated proposals to help fund fuel subsidies as the Philippines entered its second week under a state of national energy emergency, arguing that more decisive action is needed to shield motorists and consumers from surging oil prices.

House Senior Deputy Minority Leader Leila M. de Lima and Caloocan Rep. Edgar R. Erice said the Marcos administration should move beyond announcements and clarify how emergency powers will translate into concrete relief measures, even as Mr. Marcos last week signaled openness to cutting or suspending fuel excise taxes.

“The President really has to do that — it’s either to defer, suspend or cut the fuel excise tax,” she told BusinessWorld on the sidelines of a Liberal Party event in Makati City last week. She added that the rising cost of fuel has become an added burden for households already struggling with higher food and transport expenses.

“With the looming energy crisis, more measures have to be adopted by the House, by Congress to help out the Executive,” she added.

Mr. Erice said the government has yet to clearly define the scope of the declared energy emergency, including what powers it unlocks and how it would be used to stabilize prices or supply.

“It’s not explained what that means,” he said in Filipino. “What are the benefits? It feels like it was declared because there was clamor, but it’s not clear what the government will actually do.”

Aside from UPLIFT, other measures include the possible use of Malampaya energy funds for fuel procurement, targeted subsidies, conservation policies and tighter market monitoring.

Ms. de Lima said subsidies for transport operators, fishermen and farmers should be expanded, arguing that support remains insufficient given persistent fuel inflation. “It’s not enough,” she said, adding that fare adjustments in the transport sector should strike a balance between cushioning drivers and protecting commuters.

She also renewed calls to revisit the Oil Deregulation law, which removed government control over fuel pricing and distribution. Ms. de Lima said re-examining the law could give the state more tools to manage price shocks driven by global markets.

“Many sectors are now calling for its re-examination,” she said. “Is it time to repeal, modify or amend the Oil Deregulation Law to address the current crisis?”

To offset potential revenue losses from fuel tax cuts, some economists have proposed imposing a wealth tax. Malacañang has said “nothing is off the table” but cautioned that such a measure would be difficult to implement.

Ms. de Lima said she supports taxing high net-income earners to help fund crisis responses, provided the framework is properly designed.

“We cannot be taxing those who are barely surviving,” she said. “If one will be filed, I will be supporting that.”

Mr. Erice was more skeptical, saying a wealth tax might yield limited revenue given the small number of billionaires in the country. “The tax base is too small for our country’s needs,” he said, questioning how much could realistically be raised.

As an alternative, Mr. Erice proposed a one-time “legalization fee” for undocumented foreign nationals, claiming tens of thousands of migrants may be willing to pay to regularize their status. He estimated such a scheme could generate trillions of pesos, though he offered no official data to support the numbers.

He also urged the administration to look beyond excise taxes and examine the 12% value-added tax on fuel, saying the government is getting higher-than-expected revenues as oil prices exceed initial assumptions.

With fuel costs continuing to ripple through inflation and transport fares, minority lawmakers said policy choices over the coming weeks would determine whether emergency powers result in tangible relief or remain largely symbolic.

Market Opportunity
Housecoin Logo
Housecoin Price(HOUSE)
$0,001277
$0,001277$0,001277
-2,28%
USD
Housecoin (HOUSE) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact crypto.news@mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

USD/JPY Intervention: How Verbal Warnings Dramatically Slowed the Japanese Yen’s Slide

USD/JPY Intervention: How Verbal Warnings Dramatically Slowed the Japanese Yen’s Slide

BitcoinWorld USD/JPY Intervention: How Verbal Warnings Dramatically Slowed the Japanese Yen’s Slide TOKYO, March 2025 – Japanese authorities’ carefully calibrated
Share
bitcoinworld2026/03/30 23:25
Adoption Leads Traders to Snorter Token

Adoption Leads Traders to Snorter Token

The post Adoption Leads Traders to Snorter Token appeared on BitcoinEthereumNews.com. Largest Bank in Spain Launches Crypto Service: Adoption Leads Traders to Snorter Token Sign Up for Our Newsletter! For updates and exclusive offers enter your email. Leah is a British journalist with a BA in Journalism, Media, and Communications and nearly a decade of content writing experience. Over the last four years, her focus has primarily been on Web3 technologies, driven by her genuine enthusiasm for decentralization and the latest technological advancements. She has contributed to leading crypto and NFT publications – Cointelegraph, Coinbound, Crypto News, NFT Plazas, Bitcolumnist, Techreport, and NFT Lately – which has elevated her to a senior role in crypto journalism. Whether crafting breaking news or in-depth reviews, she strives to engage her readers with the latest insights and information. Her articles often span the hottest cryptos, exchanges, and evolving regulations. As part of her ploy to attract crypto newbies into Web3, she explains even the most complex topics in an easily understandable and engaging way. Further underscoring her dynamic journalism background, she has written for various sectors, including software testing (TEST Magazine), travel (Travel Off Path), and music (Mixmag). When she’s not deep into a crypto rabbit hole, she’s probably island-hopping (with the Galapagos and Hainan being her go-to’s). Or perhaps sketching chalk pencil drawings while listening to the Pixies, her all-time favorite band. This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy. I Agree Source: https://bitcoinist.com/banco-santander-and-snorter-token-crypto-services/
Share
BitcoinEthereumNews2025/09/17 23:45
USDH Power Struggle Ignites Stablecoin “Bidding Wars” Across DeFi: Bloomberg

USDH Power Struggle Ignites Stablecoin “Bidding Wars” Across DeFi: Bloomberg

A heated contest for control over a new dollar-pegged token has set the stage for what analysts say could define the next phase of the stablecoin industry. According to Bloomberg, a bidding war unfolded on Hyperliquid, one of crypto’s fastest-growing trading platforms, with the prize being the right to issue USDH, its native stablecoin. The competition drew some of the sector’s most prominent names, including Paxos, Sky, and Ethena, who later withdrew their bid, alongside the lesser-known Native Markets, a startup backed by Stripe stablecoin subsidiary Bridge. Hyperliquid Stablecoin Race Shows Branding and Partnerships Matter as Much as Tech Over the weekend, Hyperliquid’s validators, the contributors who secure the network and vote on key decisions, awarded the USDH contract to Native Markets over the weekend. Despite its relatively new status, the firm’s connection with Stripe helped it outpace more established rivals. Stablecoins underpin decentralized finance by providing a dollar-backed medium for collateral, settlement, and payments across applications. What began as a grassroots, community-led sector has evolved into a battleground for institutions and payment companies seeking revenue from interest on reserves. Circle, for example, shares proceeds from its USDC with Coinbase under a partnership designed to stabilize earnings during market swings. The Hyperliquid contest offered a rare glimpse into just how intense competition has become. Paxos pledged to take no revenue until USDH surpassed $1 billion in circulation. Agora offered to share 100% of net revenue with Hyperliquid, while Ethena put forward 95%. All were outbid by Native Markets, whose ties to Stripe’s $1.1 billion acquisition of Bridge and subsequent rollout of the Tempo blockchain positioned it as a strong contender. “Every stablecoin issuer is extremely desperate for supply,” said Zaheer Ebtikar, co-founder of Split Capital. “They are willing to publicly announce how much they are willing to offer. It just shows it’s a very tough business for stablecoin issuers.” While USDC remains dominant on Hyperliquid with more than $5.6 billion in deposits, the arrival of USDH could shift flows and revenue dynamics. Paxos co-founder Bhau Kotecha said the firm sees the exchange’s growth as an important opportunity, while Agora’s co-founder Nick van Eck warned that awarding the contract to a vertically integrated issuer risked undermining decentralization. Regulatory positioning also factored into the debate. Paxos operates under a New York trust charter and is seeking a federal license, while Bridge holds money transmitter approvals in 30 states. Native Markets, in a blog post, cited regulatory flexibility and deployment speed as reasons for its selection. Hyperliquid said the strong engagement from its community validated the process. Circle CEO Jeremy Allaire dismissed concerns over USDC’s status, noting on X that competition benefits the ecosystem. Analysts suggested that fears of centralization may be exaggerated, noting that Hyperliquid is likely to remain neutral and support multiple stablecoins. Still, the contest over USDH highlighted a new reality for stablecoins: branding, partnerships, and business strategy are becoming as decisive as technology. Native Markets Secures USDH Stablecoin Mandate on Hyperliquid Hyperliquid has concluded its governance vote for the USDH stablecoin, awarding the mandate to Native Markets after a closely watched process that drew weeks of community debate and rival proposals. USDH, described by Hyperliquid as a “Hyperliquid-first, compliant, and natively minted” dollar-backed token, is intended to reduce the platform’s dependence on USDC and strengthen its spot markets. Validators on the decentralized exchange voted in favor of Native Markets, a relatively new player backed by Stripe’s Bridge subsidiary, over established contenders including Paxos and Ethena. The outcome followed a string of proposals offering aggressive revenue-sharing terms to win validator support, underscoring the scale of incentives attached to controlling USDH. Hyperliquid’s exchange has become a critical hub for stablecoin liquidity, with $5.7 billion in USDC, around 8% of its total supply, currently held on the network. At prevailing treasury yields, that translates to an estimated $200 million to $220 million in annual revenue for Circle, underlining why a native alternative could be transformative. Hyperliquid’s validators, who secure the network and vote on key decisions, selected Native Markets following an on-chain governance process that concluded September 15. Native Markets has laid out a phased rollout for USDH, beginning with capped minting and redemption trials before expanding into spot markets. Its reserves will be managed in cash and treasuries by BlackRock, with on-chain tokenization through Superstate and Bridge. Yield from those reserves will be split between Hyperliquid’s Assistance Fund and ecosystem development. The launch of USDH comes as Hyperliquid records record profits from perpetual futures trading, with $106 million in revenue in August alone, and prepares to slash spot trading fees by 80% to bolster liquidity. Analysts say the move positions Hyperliquid to capture more of the stablecoin economics internally, marking a significant step in its bid to rival the largest players in decentralized finance
Share
CryptoNews2025/09/18 00:48