Every market is dumping. It’s not a crypto issue, it’s a glo | Xeyno on Binance Square

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Every market is dumping.It’s not a crypto issue, it’s a global market issue.
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GENIUS Act: The Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act is progressing through the US Senate. This bill aims to establish clear rules for collateralization and Anti-Money Laundering compliance, which could pave the way for greater institutional adoption. Circle's Public Debut: Circle recently made a strong debut on the New York Stock Exchange, with shares jumping 167% on its first trading day, indicating significant investor interest. Tether's Stance: In contrast, Tether, the issuer of the rival stablecoin USDT, has stated its intention to remain a private company for the foreseeable future. Bank Interest: Firms associated with major banks, including JPMorgan, Bank of America, Citigroup, and Wells Fargo, are reportedly exploring a joint stablecoin initiative. $USDC $BTC

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#GENIUSActPass Senate passes a landmark #stablecoin bill, signaling progress on #crypto regulation. With #USDC backed by $61B+ and broader adoption on the horizon, #stablecoins could soon power the internet’s money rails. Stablecoins have processed a massive $33 trillion in transaction volume over the past year, significantly surpassing traditional payment systems like PayPal and Visa. $USDC $USDP

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"Unfortunately, the GENIUS Act massively expands the marketplace for stablecoins while failing to address the basic national security risks posed by them," - Senator Elizabeth Warren, the ranking Democrat on the Senate Banking Committee. #GENIUSActPass

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FED LEAVES RATE UNCHANGED #GENIUSActPass

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Fed's Powell might guide on September rate cuts. Any surprise hawkishness from Fed could shake up USD! #FOMCMeeting

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