Tag: Stablecoin

Circle Gains 34% After Stablecoin Bill Passes—What It Means for Crypto?

Key Notes The GENIUS Act passed the Senate 68–30, providing a federal framework for stablecoins. Circle stock jumped nearly 34% on June 18, closing at a record high. USDC adoption may accelerate as banks and fintechs gain regulatory clarity. Circle stock moved sharply higher on June 18 after the US Senate approved the GENIUS Act, a new bill providing regulatory clarity for stablecoins. The vote passed 68–30, marking a major policy development that immediately reflected in market prices. Circle stock price dynamics | Source: TradingView Shares of Circle jumped nearly…

Donald Trump Backs GENIUS Stablecoin Bill, Crypto Stocks Rally

Key Notes The stablecoin bill is seen as a pivotal step for the US crypto industry, with Treasury Secretary Scott Bessent emphasizing its potential to bolster dollar supremacy. Shares of Coinbase and Circle surged 16% and 33%, respectively, on June 18, reflecting optimism about the GENIUS Act. The GENIUS Act proposes a regulatory framework for dollar-pegged stablecoins, including 1:1 reserve backing, federal or state licensing, etc. . US President Donald Trump urged the House to pass the GENIUS Stablecoin Act as soon as possible so that he can sign it…

China E-Commerce Giant JD Mulling Stablecoin Licenses

Key Notes Richard Liu, JD.com founder, says the company plans to apply for stablecoin licences across the globe. He believes this move could help reduce cross-border payment costs by 90% and speed up transactions. The move aligns with the recent advancement of stablecoin regulation in the US. Richard Liu, the founder of China-based e-commerce platform JD.com, has announced the company’s plan to apply for stablecoin licences worldwide. He stated that the focus is on major sovereign currency countries and international markets. JD Eyes Stablecoin For Reduced Cross-border Payment Costs and…

JD.com Enters Stablecoin Race Amid US GENIUS Act Push

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Chinese e-commerce giant JD.com is stepping into the stablecoin arena, with founder Liu Qiangdong revealing plans for a global licensing push aimed at cross-border payments. The announcement, made during a media briefing in Beijing on Tuesday, came as the US Senate passed the Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, a landmark bill establishing federal guardrails for stablecoins. “We hope to apply for our stablecoin license in all major sovereign currency countries in the world,” Liu said. He outlined that the stablecoin would be used to…

US Senate Votes To Pass GENIUS Stablecoin Bill

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The Guiding and Establishing National Innovation for US Stablecoins, or GENIUS Act, is one step closer to becoming law in the US after the US Senate voted to pass an amended version of the bill. In a Tuesday vote of 68-30, a majority of the US Senate chose to pass the GENIUS Act roughly six weeks after Tennessee Senator Bill Hagerty introduced the legislation. The bill’s companion, the STABLE Act, may be considered in the House of Representatives next, where it could face additional proposals for amendments. “With this bill,…

Chainlink Eyes Role in U.S. Stablecoin Expansion

Key Notes Chainlink offers a one-stop unified solution combining proof-of-reserves, cross-chain connectivity, and on-chain compliance. Through its CRE, users can seamlessly manage these features, addressing the growing complexity of blockchain transactions. The GENIUS Stablecoin Act is expected to pass the Senate today following a decisive cloture vote last week. The US stablecoin market is undergoing a major transition as the GENIUS Act is likely to get approval soon. Chainlink CEO Sergey Nazarov stated that his blockchain platform is all set to cater to the demands for proof-of-reserves and cross-chain connectivity.…

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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