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Banks Push To Block Stablecoin Yields
Forbes· 2025-09-19 10:00
Core Viewpoint - U.S. banks are increasingly opposing stablecoin yield programs, arguing that allowing interest payments on stablecoins could destabilize traditional banking by draining deposits and affecting lending capabilities [2][4][5] Group 1: Banking Industry Concerns - More than 40 state banking associations and the American Bankers Association have urged Congress to strengthen the ban on interest payments for stablecoins as outlined in the GENIUS Act [4][5] - Banks argue that if stablecoins become yield-bearing, it would lead to a migration of deposits from banks to digital assets, undermining their ability to create credit [5][6] - The banking sector claims that stablecoins threaten their $187 billion annual profit from payment processing fees, framing the issue as one of financial stability [2][6] Group 2: Stablecoin Advocates' Position - Stablecoin proponents, including Coinbase, argue that the fears of deposit erosion are exaggerated, stating that banks currently hold $3.3 trillion in reserves at the Federal Reserve, which is nearly 20% of all bank deposits [7] - Coinbase's analysis suggests that stablecoins enhance the financial ecosystem and do not undermine lending, but rather modernize payment systems by reducing hidden fees [8][10] - The debate reflects a broader struggle over the future of finance, with stablecoin issuers seeking recognition as legitimate payment providers [18][19] Group 3: Legislative Context - The GENIUS Act, signed into law in July 2025, established a framework for stablecoins, requiring one-to-one backing with dollars or Treasuries and banning issuers from paying yields directly [11][12] - The law, however, allows exchanges and affiliates to offer rewards programs, which banks are now pushing to restrict [12] - Congress faces a critical decision on whether to entrench existing banking models or promote competition in the payments sector [11][19] Group 4: International Developments - Canadian firms are advancing plans to launch a regulated Canadian dollar stablecoin, highlighting how other countries are seizing stablecoin opportunities while the U.S. continues to debate [13][15] - The Canadian initiative aims to support economic sovereignty and capitalize on the growing demand for stablecoins [14][15] Group 5: Consumer Impact - The outcome of the stablecoin yield debate could significantly affect the cost and convenience of everyday transactions for consumers [16][17] - Surveys indicate widespread dissatisfaction with traditional banks, suggesting that expanding payment options could foster competition and lower costs across the financial system [17]
ARK Doubles Down on Solmate, Buys $162M of Shares After Funding SOL Treasury Purchase
Yahoo Finance· 2025-09-19 08:47
Group 1 - ARK Invest has invested nearly $162 million in Solmate (BREA) after participating in a $300 million funding round [1][2] - The company rebranded from Brera Holdings and aims to build a digital asset treasury based on Solana's SOL token [2] - ARK acquired 6.5 million shares of BREA across three of its ETFs: Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF) [3] Group 2 - BREA's share price experienced significant volatility, rising from $7.40 to a peak of $52.95 before closing at $24.90, marking a gain of over 225% on the day [3] - The price of SOL has reached its highest levels since January, surpassing $250, and has increased over 20% this month [4]
X @Wu Blockchain
Wu Blockchain· 2025-09-19 02:42
Company Transformation & Leadership - Brera Holdings 将更名为 Solmate,转型为基于 Solana 的数字资产金库 (DAT) 和加密基础设施公司 [1] - Marco Santori,前 Kraken 首席法务官,将担任 Solmate 的 CEO [1] Funding & Investment - Solmate 完成了由阿联酋 Pulsar Group 领投的 3 亿美元超额认购 PIPE 融资 [1] - Ark Invest, RockawayX 和 Solana 基金会也参与了此轮融资 [1] Listing Plans - 公司计划在纳斯达克和阿联酋交易所进行双重上市 [1]
X @Consensys.eth
Consensys.eth· 2025-09-18 14:56
RT SharpLink (SBET) (@SharpLinkGaming)SharpLink leadership will participate in major global digital asset events over the coming weeks.→ Sept 22: DATCON 2025 — Seoul→ Sept 22–27: Korea Blockchain Week — Seoul→ Oct 1–2: TOKEN2049 — Singapore→ Oct 13–15: Digital Asset Summit — LondonThey’ll be talking in keynotes, firesides, panels, and media appearances about the Ethereum opportunity and SharpLink’s ETH treasury strategy as key drivers of long-term value.The asset is $ETH, the ticker is $SBET. ...
X @mert | helius.dev
mert | helius.dev· 2025-09-17 23:15
ok so this is interesting for DATsif it's easier to do ETFs and specifically staking ETFs for these coins, then DATs are marginally less attractiveand the supply for these coins on the institutional side increases relative to demandwhich means that DATs need to start going farther along the risk curve to competeso a few reasonable conclusions to make:- more capital will go to DeFi- with compressed timelines, the bigger DATs have a better chance of eating up smaller ones (think a SOL DAT eating another alt c ...
X @mert | helius.dev
mert | helius.dev· 2025-09-17 22:06
trillionszoomer (@zoomerfied):[ ZOOMER ]SEC APPROVES GENERIC LISTING STANDARDS FOR ETFS, PAVING WAY FOR DIGITAL ASSET LISTINGS WITHOUT EXPLICIT APPROVAL: FILING ...
X @Cointelegraph
Cointelegraph· 2025-09-17 21:50
🚨 BIG: The SEC has approved generic ETF standards, a move that could pave the way for digital asset ETFs. ...
X @Watcher.Guru
Watcher.Guru· 2025-09-17 21:44
JUST IN: 🇺🇸 SEC approves generic ETF listing standards, clearing path for digital asset listings without individual approval. ...
Bullish(BLSH.US)获批在纽约提供数字资产现货交易与托管服务
智通财经网· 2025-09-17 13:27
Core Viewpoint - Bullish, a digital asset exchange operator backed by billionaire Peter Thiel, has received approval for spot trading and custody services in New York, marking a significant step in its global compliance strategy [1] Group 1: Regulatory Approval - Bullish US Operations has been granted a Virtual Currency Business Activity License by the New York State Department of Financial Services [1] - The approval includes a BitLicense and a Money Transmission License, enhancing Bullish's regulatory framework [1] Group 2: Financial Performance - Bullish went public on the New York Stock Exchange last month, becoming one of the most anticipated IPOs of the year [1] - The company has arranged to receive $1.15 billion in issuance proceeds in the form of stablecoins [1] - Analysts project that Bullish will report revenue of $55.75 million in Q2 2025, with an expected loss of $0.05 per share [1]
Safety Shot Announces Strategic Board Refresh to Align with New Corporate Vision
Globenewswire· 2025-09-17 12:30
Core Insights - Safety Shot, Inc. has appointed three new directors with expertise in venture capital, financial due diligence, and Bitcoin mining to support its growth strategy [1][2][3] - The new board composition will consist of seven members, with a majority aligned with the company's subsidiary, BONK Holdings LLC [2] - The company aims to bridge traditional public markets with the digital asset ecosystem and is focusing on acquiring revenue-generating assets in the DeFi space [3] New Board Members - Connor Klein, an investment partner at New Form Capital, has a background in financial infrastructure, real-world assets, and DeFi, previously working at Morgan Stanley and a crypto payments startup [4] - Stacey Duffy is a financial due diligence expert with experience in complex transactions for corporate and private equity clients, having worked at Alvarez & Marsal and KPMG [4] - Jamie McAvity, co-founder and CEO of Bitcoin mining company Cormint, has scaled operations to 130MW and has been recognized for efficiency in Bitcoin mining [4] Strategic Direction - The appointments are intended to enhance the company's capabilities in digital assets and high-growth operations, particularly in relation to BONK Holdings [2][3] - The CEO of Safety Shot emphasized the importance of the new directors' expertise in executing the company's vision and unlocking the value of its beverage division [3]