CampbellJAustin

What do we think the max price of CRCL is over the next 3 months?

There is bipartisan consensus in the senate that stablecoins are good for America and good for the dollar.

Regulation of the space is good for its development, and that we can draw a straight line from money market reform to the NYDFS to Genius and know it works.

0/ It is wrongly believed all Dems hate crypto. The Lever published an article (with many factual inaccuracies) today proving there is a large, active, highly competent group of centrist Dems opposed to the lying Warren-led extreme anti-progress left. Thank you and great work!

Investors fleeing out of stocks due to risk of geopolitical conflict and into safe havens like Bitcoin Cash.

0/ Listen, I am not saying that you have to listen to an interview between @fejau_inc and @RkBench, which is a meeting of the mind between one of the best macro podcasters and someone who did both USDC and project Hamilton at the Fed.

But if you dont listen, you are wrong.

If you support stablecoins but don't understand the national security implications, or more importantly, if you oppose stablecoins (and aren't trying to destroy America, because if you are, you should totally oppose stablecoins), you might want to read a thing I wrote along with my friend Adam Zarazinksi, CEO of @inca_digital.

The TL;DR is that we have a generational opportunity to expand the reach of the dollar, and getting this right is likely existential for America. If you want to understand the core of why I have been so vocal about USD stablecoins and the value of promoting better financial technology globally, this is why.

This is the big thing. And we're at a turning point where you are seeing big banks, the large tech companies like @Meta @Google and more all pile in. Hell, I'd expect @X is cooking something very big in this space and @elonmusk gets the punch line.

Thus, even if you don't particularly care about what I have to say, you should probably be paying attention and read this thing to be informed as to why others do care.

The bank lobby is at it again, now getting desperate enough that they are saying the quiet part out loud.

The fear? Stablecoins will cause a reduction in bank deposits. Why? Because they compete with banks and commit the unforgivable sin of potentially being a better deal so people will use them.

This is the harsh reality of what is going on. An industry with a government enforced moat, which allows some members to behave like a cartel, is working hard to screw the average American to benefit themselves.

This sort of insider dealing cronyist protection regime is one of the few things the left and the free market right agree is strictly bad.

And yet somehow, here we are, with the anti-crypto army leading the charge to fight against:

Consumer protection and interests
Free market competition and antitrust
Effective anti-financial crime systems

When you are on the side of monopolists, CEOs who actively want to screw their customers, and financial criminals, you've really taken a wrong term.

Hopefully the Democrats in Congress see how toxic aligning with that will be and won't follow Senator Quixote into the dustbin of irrelevance.

0/ Banks: stablecoin companies should not be able to pay interest or rewards or give marketing incentives.

Also banks: get $600 when you open an account and hold a minimum balance with us!

How stupid do you think we are, ICBA?

0/ Banks: stablecoin companies should not be able to pay interest or rewards or give marketing incentives.

Also banks: get $600 when you open an account and hold a minimum balance with us!

How stupid do you think we are, IBCA?

The senate voted for cloture on Genius!

Dem yes votes (16): Alsobrooks, LBR, Booker, Cortez Masto, Fetterman, Gallego, Gillibrand, Hassan, Heinrich, Lujan, Ossoff, Padilla, Rosen, Schiff, Slotkin, Warner

If you are in crypto or care about US consumers, this is a huge win.

If you are in favor of taking back the Democratic party from the all theater no results crowd, this is a huge win.

But if you want the banking system frozen in amber, never to change and never to improve, this is a huge loss. If you want banks to be able to exploit consumers, you were crushed today.

And if you hate the dollar and the United States? Shattering defeat.

Democratic Senate Yes voted on Genius cloture:

Dem yes votes (16): Alsobrooks, LBR, Booker, Cortez Masto, Fetterman, Gallego, Gillibrand, Hassan, Heinrich, Lujan, Ossoff, Padilla, Rosen, Schiff, Slotkin, Warner

If you are in crypto or care about US consumers, this is a huge win.

If you are in favor of taking back the Democratic party from the all theater no results crowd, this is a huge win.

But if you want the banking system frozen in amber, never to change and never to improve, this is a huge loss. If you want banks to be able to exploit consumers, you were crushed today.

And if you hate the dollar and the United States? Shattering defeat.

I have a proposal for everyone opposing the stablecoin bill. I will withdraw my opposition and convince all the crypto people to drop theirs as well if you will propose a bill that does the following:

If banks want to be eligible for FDIC insurance they must

1 - Pay all depositors at least the risk free rate

OR

2 - Cap total compensation (including all benefits) at 3x the median income of American workers for all employees at the bank and within the corporate family that owns the bank, as well as a total ban on paying dividends or buying back stock

If you will stop banks from ripping off depositors or turn banks into public utilities and force them to retain capital instead of paying out executives and investors until they can pay an appropriate rate to depositors, then stablecoins are less relevant.

But if you oppose stablecoins and won't do this...

Why are you supporting massive payouts for bank executives who rip off their customers?