Stablecoins
Sen. Hagerty says Warren tried to 'destroy' GENIUS, warns CLARITY faces political headwinds
CoinDesk's The Policy Protocol host Rebecca Rettig is joined by guest co-host Ryan VanGrack, Coinbase's newly appointed Vice Chairman, to unpack the week's biggest crypto policy developments. They begin with the escalating legal standoff between Kalshi, the state of Michigan and the CFTC, before turning to the U.S.-U.K.'s new joint recommendations on stablecoins and tokenized assets. On the one-year anniversary of the GENIUS Act, Rebecca sits down with the bill's architect, Sen. Bill Hagerty (R-Tenn.), who reflects on the legislative battle to pass the landmark stablecoin law and explains why the CLARITY Act now faces an even more challenging political path. The episode closes with Hero of the Week Harry Jung, Patrick Whitt's deputy who is stepping into a leading White House role on crypto policy while Whitt takes military leave, and Zero of the Week Sam Bankman-Fried, after the Senate unanimously passed a resolution opposing any pardon or commutation for the former FTX founder.
Stripe 价值 530 亿美元的 PayPal 收购提议，是一场旨在掌控数字支付未来的高风险博弈
如果 Stripe 收购 PayPal，真正的奖赏可能是消费者钱包、稳定币发行，或驱动下一代数字支付基础设施的技术。
银河计划通过新的 DeFi 保险库实现机构级稳定币收益
该加密金融服务公司推出了 Galaxy Curator，这是一款基于 Morpho 的平台，赋能 Fireblocks 的 2,400 家机构客户访问链上收益策略。
CoinShares 表示，Open USD 对 Circle 的 USDC 构成迄今最大威胁
该财团支持的稳定币将与合作伙伴分享储备收入，而非由发行方独享，如果该币于2026年推出，将对Circle的利润率构成压力。
瑞穗银行将Circle评级下调至“表现不佳”，并因Open USD威胁将目标价下调至50美元
这家日本投资银行表示，Open USD 的收益传递模型可能通过将更多的储备收入转移给分销商，从而对 Circle 的利润率施加压力。
摩根大通表示，Hyperliquid 的崛起对 Circle 的 USDC 经济模式构成威胁
Hyperliquid 与 Circle 及 Coinbase 的合作构成了“囚徒困境”，对该美元挂钩稳定币的收益带来压力。
