Everything web3, crypto, defi, degen
In brief Federal Reserve Governor Christopher Waller said stablecoins have the potential to improve retail and cross-border payments. He acknowledged some fear and skepticism toward innovation in payments. The Fed is researching tokenization, he said. Using cryptocurrencies to facilitate ordinary payments should be no more intimidating than swiping a debit card, Federal Reserve Governor Christopher…
In brief New York State Assemblymember Phil Steck proposed a 0.2% tax on crypto transactions that take place in the Empire State last week. The funds would help schools combat substance abuse upstate. Stablecoins will not be exempt, he said. New York State Assemblymember Phil Steck’s proposed tax on crypto transactions will not be modified…
In brief Binance will move its USDT yield product onto the Plasma network once mainnet launches, estimated for September. Users will be able to earn 2% APR on their USDT stablecoin holdings, as well as earn a slice of the soon-to-launch XPL token. Codenamed “Taylor Swift,” the partnership’s details were kept under lock and key…
In brief Crypto lobbyists pushed back against requests made last week by banking associations to weaken or repeal key sections of recently passed stablecoin legislation. The Blockchain Association and the Crypto Council for Innovation told senators that the bankers were trying to protect their own interests “at the expense of broader industry growth, competition, and…
CRYPTO LOWER, AI STOCKS WOBBLE, DAT WORRIES CONTINUECrypto lower ahead of Fed minutes. ETH ETF outflows hit $678m in 3 days. BTC fall linked to $400b drain from reverse-repo. Strategy stock hits 4-month lows after BTC buys. DATs now eclipse VC funding in 2025. Sharplink adds 12k ETH. Wyoming first state to launch stablecoin. Bessent…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors are red again, down another 2%; BTC at $113,200 Wyoming introduces its stablecoin FRNT, first-ever from a public entity Goldman…
In brief SkyBridge Capital boss Anthony Scaramucci predicted that Bitcoin will be “between $180,000 and $200,000” by the end of 2025. He pointed to supply-and-demand dynamics and institutional interest as major drivers. Scaramucci argued that large institutional investors will mainly opt for Bitcoin ETFs over corporate treasuries. Amid Bitcoin’s roughly 6% pullback this week, former…
In brief Crypto exchange Bullish took its IPO proceeds in stablecoins. The bulk of its stablecoins are on the Solana blockchain and custodied by Coinbase. The firm accepted Circle’s USDC, PayPal’s PYUSD, Ripple’s RLUSD, among others. Publicly traded crypto exchange Bullish (BLSH) received $1.15 billion in proceeds from its recently completed initial public offering (IPO)…
In brief Sen. Tim Scott (R-SC) said Tuesday that fewer Senate Democrats might support the upcoming crypto market structure legislation than voted for the GENIUS Act earlier this year. The Senate Banking chair said Sen. Elizabeth Warren (D-MA) has been a key obstacle to getting more Democrats onboard for the far-reaching bill. Warren warned last…
In brief Stablecoin supply climbed to $160 billion, with $32 billion on exchanges and daily inflows topping $1.2 billion, creating the largest pool of deployable capital in crypto history. Bitcoin, Ethereum, and XRP posted modest 24-hour gains as markets consolidate ahead of a possible September Fed rate cut. While some analysts see the surge in…
