1️⃣ Walmart and Amazon are exploring the possibility of issuing their own stablecoins❓
According to a report from the Wall Street Journal, retail giants Walmart and Amazon are exploring plans to issue their own stablecoins backed by U.S. dollars. This potential move aims to reduce friction in payments, streamline settlement, and lower costs associated with traditional financial systems. The potential launch of the stablecoin will likely depend on pending federal policy decisions.
2️⃣ Crypto influencer Anthony Pompliano is set to launch a vehicle to buy #bitcoin 💸
According to a report from the Financial Times, digital asset influencer and podcast host Anthony Pompliano was in talks to become the CEO of a publicly traded company that is raising $750 million to finance a wave of bitcoin purchases. The company, ProCapBTC, would seek to raise $500 million in equity financing and $250 million in convertible debt through a merger with Columbus Circle Capital 1.
3️⃣ The U.S. Senate schedules the final vote on the GENIUS stablecoin bill for June 17🔍
The U.S. Senate is set to issue its final vote on the GENIUS Act next Tuesday. Reportedly, the exact date will be decided later by the majority leader in consultation with the Democratic leader. To provide context, the GENIUS Act seeks to establish a legal framework for stablecoins. Specifically, it requires them to be fully backed by U.S. dollars or assets with similar liquidity, mandates annual audits for issuers with a market capitalization over $50 billion, and adds compliance guidelines for foreign issuers. If the GENIUS Act is approved by the Senate, it will move to the House of Representatives for a vote.
4️⃣ Ripple and the SEC file a joint motion to release $125 million held in escrow👀
Reportedly, the #SEC of the U.S. and Ripple have filed a joint motion in federal court in Manhattan to dissolve the injunction in their case and release the $125 million civil penalty that is currently in escrow. Specifically, $50 million would go to the SEC, while the remaining $75 million would be returned to #Ripple💰 . The measure also seeks to resolve pending appeals in the Second Circuit and prevent the case from dragging on for another year of litigation.
The document stated: Doing so would promote efficiency and policy favoring settlements, avoid the need for additional litigation in this Court and in the Court of Appeals, and be consistent with recent SEC actions in other cryptocurrency registration cases.
5️⃣ Shopify partners with #coinbase and #Stripe to drive $USDC conversion⚡️
E-commerce giant Shopify has partnered with Coinbase, the cryptocurrency exchange platform, and Stripe to enable merchants to accept payments with Circle's USDC stablecoin. Specifically, the alliance will allow buyers to pay with USDC on Base using their preferred cryptocurrency. Stripe will convert this USDC to the local currency preferred by the merchant, depositing it into their bank account like any other payment. Stripe reported that the service will be available for Shopify merchants in 34 countries. The integration will be implemented on June 12 for a limited group of merchants with early access.
