1. U.S. Senate Nears Stablecoin Regulation Without Trump Clause
The Senate is set to pass the GENIUS Act to regulate stablecoins, mandating consumer protections and strong reserve requirements. However, despite barring profits for Congress members, it leaves out the President and their family—raising conflict-of-interest concerns tied to Trump’s crypto ventures.
2. “Wobbly Foundations” Podcast Highlights Stablecoin Risks
A new Reuters podcast featuring analyst Dan Davies warns that the growing integration of stablecoins like USDC and Tether into traditional banking could introduce systemic financial vulnerabilities. The discussion explores whether these tokens truly qualify as stable assets or mask significant risks.
3. Justin Sun’s Tron Group Goes Public via Reverse Merger
Justin Sun’s Tron group is merging with SRM Entertainment to go public in the U.S. via a SPAC-type reverse merger. The deal includes a $100 million investment in TRX tokens and ties to Trump-affiliated World Liberty Financial—highlighting continued crossover between memecoins and mainstream finance.
4. Crypto Markets Dip on Israel–Iran Tensions
Bitcoin and Ethereum fell by around 0.7–2.6% amid renewed Israel–Iran hostilities, with BTC dipping near $106K. Stablecoins and other risk assets also experienced volatility, underscoring how crypto remains sensitive to global geopolitical events.
