Democratic Senators Elizabeth Warren and Richard Blumenthal issued a letter to Meta CEO Mark Zuckerberg, raising concerns over reports that the tech giant is once again exploring the launch of its own stablecoin. In the letter, the senators warn that Meta’s renewed interest in digital currency, reminiscent of its failed Libra and Diem initiatives, could […]
Uber is taking a serious look at stablecoins as it explores ways to streamline international transactions and reduce cross-border payment costs. Speaking at the Bloomberg Tech Summit in San Francisco on June 5, CEO Dara Khosrowshahi said the company is currently in the “study phase” of evaluating stablecoins as a potential payment method, calling the […]
Binance is leading all centralized crypto exchanges in stablecoin reserves. According to the latest stats, the crypto exchange currently holds $31 billion in USDT and USDC, which is around 59% of total stablecoin holdings across the sector. This dominance highlights Binance’s outsized role in providing liquidity and facilitating stablecoin-denominated transactions. Stablecoin Inflows Favor Binance When […]
Ripple’s USD-pegged stablecoin, RLUSD, closed Q1 2025 with a combined market capitalization of $244.2 million across the XRP Ledger (XRPL) and Ethereum. On XRPL alone, RLUSD reached a market cap of $44.2 million, making it the largest stablecoin on the network, according to the latest report by Messari. Due this growth, the total market cap […]
The United States government is close to enacting its first crypto legislation, the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. However, Democratic lawmakers are pushing to include protections against corruption from public officials, especially the family of President Donald Trump. According to a report from Axios, a group of senators insists the […]
America’s biggest banks, including JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, and others, are in early discussions about creating a joint stablecoin to compete with the crypto industry, according to the Wall Street Journal, citing people familiar with the matter, on May 22. The conversations reportedly involve bank-owned payment companies like Zelle operator Early […]
The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, passed in a 66-32 Senate vote on May 20. “The motion to invoke cloture on the motion to proceed to the consideration of the GENIUS Act has passed,” reported Fox’s Eleanor Terrett. She added that more than 15 Democrats flipped their votes from no […]
Major industry figures, such as Chris Dixon and Brian Armstrong, have publicly backed the bipartisan Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act. This endorsement comes ahead of a key Senate vote scheduled for this Thursday. Industry Support Introduced in February 2025 by Senator Bill Hagerty, the GENIUS Act is co-sponsored by Senate […]
The latest CryptoQuant Weekly Report reveals that stablecoin liquidity has reached a new high of $220 billion. This surge is due to the expanding market caps of Tether (USDT) and USD Coin (USDC), which have fueled capital inflows into the broader crypto ecosystem. Bullish Indicator For BTC According to the April 30 report, USDT’s market […]
With the growth of the cryptocurrency and digital asset economy has come the expansion of the stablecoin market in the United States and abroad, stated the US Treasury in a report released on April 30. The research noted that there could be an 8.3x increase from the current stablecoin market cap of $234 billion in […]