Tag: Stablecoin

Arthur Hayes: Stablecoin IPOs Are Exploding “Hot Potatoes”

Key Notes Arthur Hayes says new public stablecoin firms will mimic Circle but lack sustainability. JPMorgan Chase files for “JPMD” trademark, signaling stablecoin ambitions. US lawmakers push forward the GENIUS Act, potentially reshaping the $250B stablecoin market. . BitMEX co-founder Arthur Hayes has warned that several overhyped stablecoin companies would follow the recent public listing of Circle (CRCL). On June 16, Hayes declared that Circle’s IPO marks the beginning of a “stablecoin mania” cycle, one that will ultimately see most new entrants fail. The expert predicted that a bubble will…

Stablecoin Exchange Inflows Plummet $61 Billion—Warning Sign for Bitcoin?

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Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing Strict editorial policy that focuses on accuracy, relevance, and impartiality Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. On-chain data shows the exchange inflows related to the stablecoins USDT and USDC have seen a sharp plunge. Here’s what this could mean for Bitcoin and other cryptocurrencies. Stablecoin Exchange Inflows Have Dropped Below Yearly Average…

Arthur Hayes Warns New Stablecoin IPOs Are Overvalued Hot Potatoes

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BitMEX founder Arthur Hayes warns that an incoming wave of new stablecoin companies will try to follow Circle’s successful public offering, but are more likely doomed to fail.  In a post on Monday, Hayes cautioned that while Circle’s IPO marks the beginning of “stablecoin mania,” most new public stablecoin companies will be overvalued and fail. “The listing marks the beginning, not the end of this cycle’s stablecoin mania,” he said, adding that the bubble will pop after the public launch of a stablecoin issuer “that separates fools from tens of…

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Retail Titans Amazon and Walmart Reportedly Weigh Stablecoin Options

As enthusiasm for stablecoins keeps gaining traction among big corporations, sources say retail titan Walmart and e-commerce powerhouse Amazon are actively exploring the possibility of launching their own digital dollar-pegged tokens. Wall Street Journal Sources Say Amazon, Walmart May Step Into Stablecoin Market As of press time, the combined value of all circulating stablecoins has […] Source CryptoX Portal

US Senate To Vote On Amended Stablecoin Bill On June 17

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Lawmakers in the US Senate are scheduled to consider a vote on the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, after a majority chose to invoke cloture for the bill. According to a Thursday notice from Senate Democrats, the full chamber will vote on the GENIUS Act on Tuesday, June 17. The floor vote will follow senators proposing a variety of amendments to the bill, including one to address elected officials and their families potentially profiting through connections to the crypto industry. “The Senate will vote…

Amazon and Walmart Plotting Stablecoin Issuance Moves: Report

Key Notes American multinationals Amazon and Walmart are considering issuing their USD-pegged stablecoins. Taking this route may strain the traditional financial system that relies on these firms. This development signals an increase in mainstream adoption of stablecoins. . The era of stablecoins has successfully reached the doorsteps of top merchandise platforms Amazon.com Inc (NASDAQ: AMZN)  and Walmart Inc (NYSE: WMT). According to the Wall Street Journal (WSJ), both firms are considering the possibility of issuing stablecoins backed by the United States dollar. Handing Liquidity from TradFi to DeFi With Stablecoins With…

Maple Finance Rolls Out stETH-Backed Stablecoin Lending for Institutions

Maple Finance has added stETH as collateral for institutional stablecoin lending, allowing institutions to tap liquidity without forfeiting staking rewards, another sign of DeFi’s growing role in institutional treasury management. New Institutional Stablecoin Lending Program to Boost stETH Utility Maple Finance, a leading on-chain capital markets platform, has expanded its institutional offerings by enabling stablecoin […] Source CryptoX Portal

Circle’s USDC Stablecoin Debuts on Ripple’s XRPL

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Circle’s USDC stablecoin (USDC) launched on the XRP Ledger (XRPL) on Thursday, bringing the overcollateralized dollar-pegged token to users of the layer-1 blockchain network. According to an announcement from Ripple, the launch of USDC on the platform will enable investors to use XRP as a bridge currency to transfer their stablecoins between decentralized exchanges (DEXs) through an auto-bridging feature. Markus Infanger, the senior vice president of RippleX added: “Stablecoins are key entry points connecting traditional financial markets with the crypto space — essential for use cases focused on utility rather…

Report: Jack Ma’s Ant Group Plots Global Stablecoin Power Grab

Jack Ma–backed Ant Group is said to be pursuing stablecoin licenses across multiple jurisdictions, including Singapore, according to a recent report by Bloomberg’s Lulu Yilun Chen. Ant Group’s Global Stablecoin Strategy Leaks As regulatory frameworks evolve at breakneck speed, traditional finance (TradFi) powerhouses are increasingly turning their attention to the expanding stablecoin arena. A recent […] Source CryptoX Portal