First slowly, then at once.
For years, crypto beat in the dark, a band with a ban that wrinkled on by elites in Washington and in the media. Then came the market jack, and Trump and legislation as the genius act. Now crypto is finally everywhere.
Look at the big news this week. Amazon and Walmart – companies about as mainstream as they come – consider launching their own stablecoins. You read it right.
According to the Wall Street Journal, the world’s largest retailers are tired of paying commercial fees and other unmatched costs for visa and MasterCard. They will use their own blockchain-based tokens to perform their own transactions, their way.
This is conditional on the adoption of the Genius Act, which now seems an almost security after this week’s Senate vote. Jesse Hamilton had the news.
And it wasn’t the only big stablecoin news this week. Societe General, a lion of European Finance, announced his own stableecoin at Ethereum and Solana. And Jack Ma’s Ant Group applied for stableecoin issuer licenses in Hong Kong and Singapore.
The whole world becomes stableecoin crazy. And why not? These mostly dollar-pointed tokens are a much better form of money that allows faster settlement times and lower fees, especially on cross-border transactions.
Genius was not the only crypto legislation that went on in Congress. The bill of market structure – known as Clarity – came out of key house committee. If it was passed, the law would give long sought -after railings to cryptic companies, especially around securities laws and the roles of SEC and CFTC.
The market responded well to the congress with scatter, and we saw several new messages about Bitcoin accumulation vehicles (alias “Digital Asset Treasuries”). For example, Anthony Pompliano, a cryptoin fluencer and investor, leads a new $ 750 million fund.
If you are not impressed with all this, Krypto is really not your thing. But the legendary investor Paul Tudor Jones disagrees with you. He believes Bitcoin should be part of any investor’s portfolio.
