On The Brink with Castle Island Weekly Roundup 06/20/25 (GENIUS passes, Nobitex Hack, FUD dice retrospective) (EP.636)
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Jun 20, 2025 The GENIUS Act gains traction with bipartisan support, facing potential amendments in the House. Predictions claim stablecoins could balloon to $3.7 trillion by 2030, raising concerns about their influence on the U.S. Treasury. A major hack impacts an Iranian crypto exchange, leading to significant losses. The rise of deposit tokens is discussed alongside partnerships like Yellowcard and Visa in Africa. Lastly, nostalgic reflections on past Bitcoin FUDs shed light on the evolving crypto landscape.
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GENIUS Act Expands Stablecoin Potential
- The GENIUS Act's passage significantly advances stablecoin regulation and industry impact.
- Stablecoins could grow to a $3.7 trillion market by 2030, reshaping global finance and geopolitics.
Stablecoins Influence Treasury Market
- Stablecoins and US Treasury markets can become codependent, raising liquidity and debt structure concerns.
- Issuers holding short-term treasuries could impact government borrowing costs and market stability.
JPM Deposit Tokens Less Impactful
- JPMorgan's deposit token contrasts with stablecoins due to lack of fungibility and credit risk.
- Stablecoins remain more impactful for interoperability than bank-issued digital deposit tokens.