First slowly, then all at once.
For years, crypto toiled in the darkness, a band of outlaws frowned upon by elites in Washington and the media. Then came the market rallies, and Trump, and legislation like the GENIUS Act. Now crypto is finally everywhere.
Look at the big news this week. Companies like Amazon and Walmart—about as mainstream as they come—are exploring their own stablecoins. You read that right.
According to reports, the world’s biggest retailers are tired of paying merchant fees and other costs to the likes of VISA and Mastercard. They want to use their own blockchain-based tokens to conduct transactions their way.
This is contingent on the passage of the GENIUS Act, which now appears a near certainty after this week’s Senate vote.
And that wasn’t the only big stablecoin news this week. Societe Generale, a titan of European finance, announced its own stablecoin on Ethereum and Solana. And Ant Group is seeking stablecoin issuer licenses in Hong Kong and Singapore.
The whole world is going stablecoin crazy. And why not? These mostly dollar-pegged tokens are a vastly better form of money, allowing quicker settlement times and lower fees, especially on cross-border transactions.
GENIUS wasn’t the only crypto legislation moving forward in Congress. The market structure bill—known as CLARITY—emerged from key House committees. If enacted, the law would provide much-needed guardrails for crypto companies, particularly around securities laws.
The market reacted positively to Congress’s support, leading to new announcements for bitcoin accumulation vehicles (AKA “digital asset treasuries”).
If you’re not impressed by all this, then crypto might not be your thing. But legendary investor Paul Tudor Jones believes bitcoin should be part of every investor’s portfolio.
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