Industry groups: new crypto law has a ‘loophole’ that could cost banks
Banks are feigning surprise at yield on stablecoins. US banks are warning that the new GENIUS Act could trigger trillions in deposit outflows, since it bars stablecoin issuers from paying yield but allows crypto exchanges to keep offering rewards on third-party coins.
Wall Street's dramatic reversal on cryptocurrency
Behind Wall Street's sudden embrace of cryptocurrency lies a troubling reality: major banks are rushing into digital assets despite serious risks to both their stability and consumer protections, according to nine financial executives briefed on their organizations' crypto initiatives.
Why stablecoins are Silicon Valley's Pandora's box
Despite piggybacking on the dollar and often sharing the same blockchain, out of the box their smart contracts remain stubbornly non-interoperable and therefore non-fungible.
Each coin is a brand—and combined with the network effects inherent in money itself, winner-takes-all dynamics emerge. Already, two giants rule: Tether commands a $159 billion market capitalisation - 61% of the market - while Circle's USD Coin holds $62 billion or 24%.