Stablecoin Market Growth & Trends - Stablecoin monthly trading volume surged from $1 trillion to over $3 trillion since November 2022 [2] - Monthly transfer volume reached $3.44 trillion, with a peak of $4 trillion in December [3][4] - Goldman Sachs predicts a stablecoin gold rush worth trillions of dollars [6] - The stablecoin market is currently worth over $280 billion [12] Regulatory Landscape & Government Adoption - Governments are considering utilizing stablecoins to maintain the US dollar's dominance in the digital age [1][8][13] - Wyoming is introducing a state-backed stablecoin on multiple blockchains [9] - Crypto firms are urging the UK to develop a national stablecoin strategy to avoid falling behind the US [11] - China is considering allowing yuan-backed stablecoins, and Japan is set to approve yen-pegged stablecoins [14] - The OCC is encouraging community banks to partner with stablecoin companies to drive innovation [17][18] Ripple & ROUSD - Ripple is pursuing a US banking charter (OCC license) and a Fed master account [20][21][23] - Ripple aims to bridge crypto and traditional finance [20][24] - ROUSD is expected to disrupt traditional payment rails and become a fixture in the financial system [26]

Crypto Venture Overview - The Trump family's crypto venture, USD1, has generated significant wealth since the election [2] - USD1 is a stable coin pegged against the US dollar, aiming to compete with established stable coins like Tether and Circle [3][4] Financial Mechanics - Users exchange 1 US dollar for 1 USD1 token with World Liberty [5] - World Liberty invests the collected funds in reserves, primarily US government treasuries [5][6] - World Liberty has accumulated approximately $2.2 billion in reserves to underpin USD1 [6] - At current interest rates, these reserves could generate around $80 million in annual interest [6] Key Players and Transactions - Binance holds the majority (approximately $2 billion) of the total USD1 in circulation [7][8] - A UAE fund, MGX, made a $2 billion investment into Binance paid in USD1, significantly boosting its circulation [7][10] - Binance is reportedly enabling substantial trading in USD1, potentially inflating the perceived demand for the token [7][8] Potential Conflicts of Interest - Binance's founder, Changpang Zhao (CZ), is seeking a pardon from President Trump [11][12] - Simultaneously, Binance has been assisting World Liberty Financial in growing its crypto business [12] - Binance previously paid a $4.3 billion fine for anti-money laundering violations [11]

Stablecoin Regulation & Safety - The industry believes bipartisan policy and administration leadership have established stablecoins as a safe, fully reserved form of digital cash on the internet [1] - The industry emphasizes the need for digital cash to be as safe as possible, especially when moving at internet speed globally [1] - Short duration treasuries are considered eligible collateral for stablecoins, alongside cash-like instruments [1] Credit Market Development - The industry disagrees with the view that stablecoins crowd out lending; instead, high velocity and utility money will drive robust credit market development on blockchain networks [2] - The industry anticipates the development of robust credit markets operating on blockchain networks [2]

All right, news in the crypto world, and I'm going to say world twice. World Liberty Financial, which has ties with the Trump family, including uh the president and his M East envoy Steve Witoff, is going to use Alt 5 Sigma Corporation to raise 1.5% billion for the purchase of its uh stable coin, WLFI token. Joining us now, World Liberty Financial Co-founder and CEO, Zack Witco, and incoming uh chairman of Alt 5 Sigma and World Liberty Financial Co-founder and COO Zack Folkman.So, we got they got rules abou ...

Circle shares higher after the crypto firm issued its first quarterly report as a public company. Total revenue growing 52% over the prior year. Joining us right now is Jeremy Oair, co-founder and chairman and CEO of Circle.And it's great to see you. Congratulations. I haven't seen you since the IPO, which I think has been, you know, a wild rocket of a ride for you.>> Yeah, it's been an interesting couple months here. >> How have you uh enjoyed this is the first quarter. So, how did you enjoy putting this t ...

Stablecoin Fundamentals - Stablecoins offer the allure of digital currency with free movement and no transaction costs [1] - The fundamental use case of stablecoins is for transactions, not for holding as an investment [2] - Buying stablecoins means foregoing opportunity cost or interest, approximately 4% yield, that could be earned from CDs or treasury bills [3] - Stablecoin companies invest the proceeds from stablecoin sales in very short-term treasury bills as collateral [3] Impact on Banking System - The US banking system relies on deposits, and a shift to stablecoins could reduce deposits available for lending [5][6] - Reduced bank deposits could lead to a decline in credit availability for car loans, student loans, and mortgages [6][7] - Banks could potentially offer stablecoins as a service to clients, similar to existing digital payment rails like Zelle [11][12] Market and Economic Risks - Stablecoin investments are limited to short-term Treasury bills, potentially distorting the short-term Treasury curve [7][8] - Concerns exist that people are buying stablecoins as part of a portfolio, despite them not being an asset that appreciates in value [14] - The buildup in the overall supply of stablecoins suggests they are not solely being used for transactional purposes [16] - Increased demand for short-term bills due to stablecoins may dislocate the short-term bill market from the Treasury curve [19]

Market Trends & Adoption - Major cryptocurrencies experienced slight declines at the beginning of the week, with Bitcoin and Ether both dipping about 0.5% [2] - A Gallup poll indicates that 14% of US adults own Bitcoin or other cryptocurrencies, with ownership among US investors rising from single digits in 2021 to 17% currently [6][7] - PayPal is rolling out a service allowing US merchants to accept over 100 cryptocurrencies for payments, aiming for cheaper and faster cross-border transactions [4] Company Initiatives & Developments - PayPal's new feature, "pay with crypto," connects customer crypto wallets and charges a 0.99% transaction fee, potentially decreasing transaction costs by up to 90% compared to international credit card processing [5] - Sharplink is increasing its efforts to buy ETH as part of a crypto treasury strategy, driven by the belief that Ethereum will become the global financial infrastructure foundation [10][11][12] - Consensus is positioning MetaMask to transform decentralized finance and has exciting news coming soon for its Lineia layer 2 ecosystem, including a token generation event [18][19] Regulatory Landscape & Concerns - Democratic senators are probing the Federal Housing Finance Agency (FHFA) regarding proposals to allow unconverted crypto assets in mortgage loan underwriting, citing concerns about volatility [8][9] - The senators are requesting information from the FHFA regarding its decision-making process to assess the potential risks and benefits to the order and the implications for the housing market [8][9] - Regulators are doing great things for the industry recognizing that America is in a world-leading position [23]

TNC announcing a strategic partnership with Coinbase this hour, expanding access to digital assets for their banking clients and their institutional investors, providing some banking services for Coinbase. Our Leslie Picker brought us that news earlier this morning and joins us now alongside PNC CEO. Morning Leslie.Hi, good morning Carl and thank you Bill Debuk for joining us today. Um, thank you for having me. on the heels of this news here in Washington, of course.I'm I'm just curious. Uh you mentioned in ...

Sergey, if this was the early internet era, what year would crypto be in. I would say 9798 something like that. Really.Yeah. Yeah. Let me explain.Today I sit down with leader in the crypto space and co-founder of Chain Link, Sergey Nazerov. And it's really just the beginning. who was in the room where it happened as President Trump signed the Genius Bill.This afternoon, we take a giant step to cement American dominance of global finance and crypto technology as we sign the landmark Genius Act into law. So, ...

President Trump today signing the landmark Genius Act into law. It's the first major piece of crypto legislation in US history. The bill boosting crypto further into the mainstream now offering a regulatory framework for a so-called stable coin in the economy.This is the Trump administration prepares to potentially sign another groundbreaking executive order paving the way for 401k retirement saving plans to invest in private assets. We're going to explain all this. So, what could these changes mean for you ...