Stablecoin Industry - HTX Stablecoin Biweekly Learning Camp 第六期已上线 [1] - 本期主题为：什么是 GENIUS Act？ [1] - 探讨 GENIUS Act 将如何影响稳定币行业 [1]

RT WhaleEcosystem.Sonic 🌊 (@Whale_Ecosystem)Big milestone reached with regards to the #GENIUSAct being signed into law.@circle are ready and so are the @Whale_Ecosystem as proud partners of the Circle Alliance programCCTP x Whale Wallet 🐋 https://t.co/JnMRbPpJOx ...

$3800 ETHEREUM NOW!Wendy O (@CryptoWendyO):Now that the GENIUS Act passed how high will Ethereum go?Respectfully $4000 seems …$10,000 ETHEREUMHIGHER https://t.co/9IFVbXNjix ...

Now that the GENIUS Act passed how high will Ethereum go?Respectfully $4000 seems …$10,000 ETHEREUMHIGHER https://t.co/9IFVbXNjix ...

RT Jeremy Allaire - jda.eth / jdallaire.sol (@jerallaire)My comments on CNN on GENIUS Act ...

JUST IN: 🇺🇸 Senator Bill Hagerty confirms the House will vote on the GENIUS Act "this afternoon" 👀 https://t.co/lM8JLAXXhH ...

The GENIUS act passing is extremely bullish for ETH.Watch. https://t.co/7Jv4hI8aM3 ...

Core Insights - Bitcoin's price surpassed $120,000 for the first time, reaching an all-time high of over $121,300 before settling around $120,720, marking a more than 2.5% increase in the past 24 hours [1][2] - Since the beginning of the year, Bitcoin's price has risen over 29.3%, recovering from a low of just over $75,000 in April [2] - The recent price surge is attributed to the anticipation of the Senate's approval of the GENIUS Act, which aims to regulate stablecoins [2][4] Price Movement - It took Bitcoin 53 days to rise from $110,000 to $120,000 after first surpassing $110,000 on May 21 [3] - The previous milestone of $100,000 was reached in 167 days, with significant price movements influenced by political events, including Trump's election [3] GENIUS Act Overview - The GENIUS Act introduces federal regulations for stablecoins, which are cryptocurrencies pegged to stable assets like the U.S. dollar, aiming to reduce volatility [4] - The act could enhance the trustworthiness of stablecoins, which represent a potential market of $238 billion [4] - New provisions will require stablecoin issuers to maintain asset reserves and prioritize coin holders for reimbursements in case of bankruptcy [4] Market Context - Bitcoin's rise follows significant market movements, including new highs for the Nasdaq and S&P 500, and major investments in cryptocurrency by companies like GameStop and Trump Media and Technology Group [5] - Trump's campaign promises to ease regulatory burdens on the crypto industry and establish a digital asset stockpile have contributed to the current bullish sentiment [5]

Investment Rating - The industry investment rating is Attractive [7]. Core Insights - Stablecoins are a cryptocurrency category designed to maintain a value pegged to another asset, primarily the USD, and can also be linked to commodities [3][4]. - The GENIUS Act is progressing through the US Congress, which aims to establish clear requirements for stablecoin issuers, potentially reducing ambiguity in the market [13]. - Rising interest rates may increase the transaction costs associated with stablecoins, as they do not pay interest, leading to a higher opportunity cost for users [14]. - Major payment networks like Visa and Mastercard are actively developing stablecoin capabilities, viewing them as incremental opportunities rather than threats [15][16]. Summary by Sections Stablecoin Definition and Functionality - Stablecoins are generally pegged to the USD and can also be linked to other assets, with most maintaining an asset base equivalent to the value of outstanding stablecoins [3]. - They function similarly to deposit accounts without interest, allowing for immediate clearing of transactions [4]. Unique Transaction Capabilities - Stablecoins can facilitate transactions that are difficult to manage with traditional financial instruments, particularly for unpredictable timing or value [9]. Regulatory Developments - The GENIUS Act outlines requirements for stablecoin issuers, including asset holding and reporting obligations, which could clarify the landscape for stablecoin issuance [13]. Market Dynamics - The cost of using stablecoins is expected to rise during periods of increasing interest rates, potentially affecting demand [14]. - Visa and Mastercard have been preparing for stablecoin integration, indicating a strategic move to enhance their service offerings [15][16]. Company Ratings - The report includes various companies in the payments and processing sector, with ratings such as Overweight for Block, Inc and Mastercard, and Equal-weight for others like PayPal and Fiserv [72][74].