LeyGENIUS
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The alliances between regulatory bodies such as VARA of Dubai underscore the shift in the cryptocurrency landscape. Previously seen as contradictory, regulation and cryptocurrencies are increasingly aligned. Just like SUI-VARA, there are mutual agreements and institutional collaborations that mark a new phase of maturity.
This trend is not limited to Dubai. Globally, regulatory frameworks are advancing steadily towards clarity. The MiCA (Regulation of Crypto-Assets Markets) of Europe, the Market Structure Bill, and the GENIUS Act of the United States are prominent examples of efforts to define how digital assets fit into existing legal systems.
These initiatives reflect the regulators' intention to define clearer boundaries between cryptocurrencies and securities. These measures are a good omen for wider adoption and institutional trust in Web3.
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This trend is not limited to Dubai. Globally, regulatory frameworks are advancing steadily towards clarity. The MiCA (Regulation of Crypto-Assets Markets) of Europe, the Market Structure Bill, and the GENIUS Act of the United States are prominent examples of efforts to define how digital assets fit into existing legal systems.
These initiatives reflect the regulators' intention to define clearer boundaries between cryptocurrencies and securities. These measures are a good omen for wider adoption and institutional trust in Web3.
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The House Committee on Financial Services has scheduled the Clarity Act for review on June 10.
Lawmakers will deliberate on the provisions of the bill before sending it to the full House.
Congress members are moving toward the approval of the GENIUS Act amid dozens of proposed amendments.
The House Committee on Financial Services has confirmed the date for the approval of the CLARITY Act, bringing the anticipated bill one step closer to enactment. The CLARITY Act has bipartisan support, but its progress depends on the approval of the GENIUS Act.
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Lawmakers will deliberate on the provisions of the bill before sending it to the full House.
Congress members are moving toward the approval of the GENIUS Act amid dozens of proposed amendments.
The House Committee on Financial Services has confirmed the date for the approval of the CLARITY Act, bringing the anticipated bill one step closer to enactment. The CLARITY Act has bipartisan support, but its progress depends on the approval of the GENIUS Act.
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The current offering at $31 per share gives Circle a fully diluted valuation of $8.1 billion. With the initial public offering subscribed 25 times, Chamath stated in his recent post on X: "If anyone can buy it even for $12 billion or $13 billion, it's a bargain, in my opinion, considering the value this company could have in 20 years."
The venture capitalist also praised Circle for building a solid infrastructure and positioning itself at the forefront of the upcoming U.S. stablecoin legislation, also known as the GENIUS Act. Chamath believes that over time, there will be fierce competition in the U.S. dollar stablecoin market, with major players like Stripe, Square, Ripple, and Coinbase vying to dominate the market.
While this could be beneficial for companies and end consumers, it will be challenging for issuers as profit margins would decrease. Chamath wrote:
"The company that builds the most efficient infrastructure and sells it at the lowest price (with a small additional margin) will likely capture this market."
However, Ripple CEO Brad Garlinghouse stated that Ripple never made an offer to acquire the USDC issuer, putting an end to previous speculation.
Chamath's post on X generated reactions in the community. Scott Melker, host of the popular podcast Wolf of All Streets, claimed that Circle's success largely depends on the "restructuring of Tether" in the United States.
"If they get regulatory approval, it will be hard to surpass them," he added. As we know, Tether is already out of Europe for failing to comply with MiCA regulations. It will be interesting to see if it manages to overcome U.S. regulatory advances.
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The venture capitalist also praised Circle for building a solid infrastructure and positioning itself at the forefront of the upcoming U.S. stablecoin legislation, also known as the GENIUS Act. Chamath believes that over time, there will be fierce competition in the U.S. dollar stablecoin market, with major players like Stripe, Square, Ripple, and Coinbase vying to dominate the market.
While this could be beneficial for companies and end consumers, it will be challenging for issuers as profit margins would decrease. Chamath wrote:
"The company that builds the most efficient infrastructure and sells it at the lowest price (with a small additional margin) will likely capture this market."
However, Ripple CEO Brad Garlinghouse stated that Ripple never made an offer to acquire the USDC issuer, putting an end to previous speculation.
Chamath's post on X generated reactions in the community. Scott Melker, host of the popular podcast Wolf of All Streets, claimed that Circle's success largely depends on the "restructuring of Tether" in the United States.
"If they get regulatory approval, it will be hard to surpass them," he added. As we know, Tether is already out of Europe for failing to comply with MiCA regulations. It will be interesting to see if it manages to overcome U.S. regulatory advances.
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Circle's initial public offering will price above the market price
According to a Bloomberg report, the IPO is likely to price above the marketed range after the USDC issuer received orders 25 times the amount of shares it was offering in its expanded deal.
Circle raised the price of its initial public offering from between $24 and $26 per share to between $27 and $28 per share, intending to raise $896 million, reaching a valuation of $7.2 billion. The company also increased the number of Class A common shares it was offering from 24 million to 32 million.
Circle raised the price of its initial public offering from between $24 and $26 per share to between $27 and $28 per share, intending to raise $896 million, reaching a valuation of $7.2 billion. The company also increased the number of Class A common shares it was offering from 24 million to 32 million.
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Circle's current IPO aims to raise $1.1 billion, which would make it one of the top ten offerings of 2025.
Chamath praised Circle for building a strong infrastructure and positioning itself ahead of potential stablecoin regulations in the United States.
USDC has seen significant adoption, with its supply growing from $3 billion in 2020 to over $60 billion in 2025.
Billionaire investor Chamath Palihapitiya stated that Ripple or Coinbase acquiring Circle, the issuer of the USDC stablecoin, would be a bargain. His comments come at a time when Circle's IPO seeks to raise $1.1 billion, placing it among the top 10 IPOs of this year by issuance volume. With USDC capturing 30% of the stablecoin market with a valuation of $60 billion, the offering places CRCL shares at a listing price of $31 per share.
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Chamath praised Circle for building a strong infrastructure and positioning itself ahead of potential stablecoin regulations in the United States.
USDC has seen significant adoption, with its supply growing from $3 billion in 2020 to over $60 billion in 2025.
Billionaire investor Chamath Palihapitiya stated that Ripple or Coinbase acquiring Circle, the issuer of the USDC stablecoin, would be a bargain. His comments come at a time when Circle's IPO seeks to raise $1.1 billion, placing it among the top 10 IPOs of this year by issuance volume. With USDC capturing 30% of the stablecoin market with a valuation of $60 billion, the offering places CRCL shares at a listing price of $31 per share.
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Senators are working on the details of the GENIUS Act, which includes more than 60 proposed amendments that are being reviewed by Republican and Democratic lawmakers.
Efforts are being made to narrow down the list so that the bill can reach the full Senate before the end of the week.
It is important to reach an agreement between the parties because delays in the bill could interfere with other important legislation.
Senate lawmakers are engrossed in intense discussions about the GENIUS Act, a bill that currently faces a long list of proposed changes. If they succeed, the bill could be presented to the Senate by the end of this week.
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Efforts are being made to narrow down the list so that the bill can reach the full Senate before the end of the week.
It is important to reach an agreement between the parties because delays in the bill could interfere with other important legislation.
Senate lawmakers are engrossed in intense discussions about the GENIUS Act, a bill that currently faces a long list of proposed changes. If they succeed, the bill could be presented to the Senate by the end of this week.
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The Senate negotiates over 60 amendments to the GENIUS Act
According to respected journalist Eleanor Terrett on X, more than 60 amendments have been suggested to date. This large number is now the center of intense negotiations between Republican and Democratic senators. Both sides are working to narrow the list of amendments to the law to a more manageable number.
If an agreement is not reached soon, the bill approval process could slow down. Procedural delays would likely push the final vote to next week. Legislators want to avoid this, but it is not uncommon when dealing with such a high volume of proposed changes.
If an agreement is not reached soon, the bill approval process could slow down. Procedural delays would likely push the final vote to next week. Legislators want to avoid this, but it is not uncommon when dealing with such a high volume of proposed changes.
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According to a report published in X by American cryptocurrency journalist Eleanor Terrett, the GENIUS Act could become law by the end of this week. Terrett notes that U.S. lawmakers are working in secret to reach a consensus that allows the stablecoin bill to fit into the legislative process. Terrett claims upfront that the bill's sponsors are negotiating an agreement with all lawmakers to allow a vote on key issues. If the politics unfold as expected, the stablecoin bill will avoid the requirement for a full closure.
After a series of setbacks, the Senate approved the GENIUS Act for review following the closure vote in May. U.S. senators are expected to vote on key issues related to the bill, including a new disclosure requirement for government officials.
Additionally, the Senate will vote on a proposal to ban Chinese ownership of stable cryptocurrencies under the GENIUS Act. Terrett notes that the Senate will decide on a possible amendment to U.S. anti-money laundering regulations and the Bank Secrecy Act.
Despite the plan for the GENIUS Act's approval by the end of the week, an amendment proposal threatens to derail the plans. Senator Dick Durbin is pushing to insert the text of the Credit Card Competition Act (CCCA) into the stablecoin bill, which has provoked the anger of several lawmakers.
The CCCA, introduced in the House of Representatives in 2023, has failed to pass in the legislative process. The bill seeks to require major banks to use a payment network other than Visa and Mastercard, but an amendment proposal to merge it with the GENIUS Act has generated disagreement.
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After a series of setbacks, the Senate approved the GENIUS Act for review following the closure vote in May. U.S. senators are expected to vote on key issues related to the bill, including a new disclosure requirement for government officials.
Additionally, the Senate will vote on a proposal to ban Chinese ownership of stable cryptocurrencies under the GENIUS Act. Terrett notes that the Senate will decide on a possible amendment to U.S. anti-money laundering regulations and the Bank Secrecy Act.
Despite the plan for the GENIUS Act's approval by the end of the week, an amendment proposal threatens to derail the plans. Senator Dick Durbin is pushing to insert the text of the Credit Card Competition Act (CCCA) into the stablecoin bill, which has provoked the anger of several lawmakers.
The CCCA, introduced in the House of Representatives in 2023, has failed to pass in the legislative process. The bill seeks to require major banks to use a payment network other than Visa and Mastercard, but an amendment proposal to merge it with the GENIUS Act has generated disagreement.
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