In the US, a bull run is forecasted amid support for the stablecoin law. David Sachs stated that the adoption of the stablecoin law will create a trillion-dollar demand for government bonds and boost the cryptocurrency market. The Senate has already supported the initiative in the first vote — 66 votes in favor and 32 against. Sachs emphasized that the GENIUS Act will ensure demand for treasury bonds "virtually overnight." Ahead are discussions on amendments and the final vote. For his part, Bitwise CIO Matt Hougan added that the new regulatory framework will create a foundation for years of growth in crypto assets. Ethereum, Solana, and major DeFi projects will particularly benefit.
