Circle’s Dante Disparte says the GENIUS Act ensures tech giants and banks can’t dominate the stablecoin market without facing strict structural and regulatory hurdles. The GENIUS Act contains a little-noticed clause that prevents technology giants and Wall Street behemoths from dominating the stablecoin market, according to Circle Chief Strategy Officer Dante Disparte. “The GENIUS Act has what I’d like to call — just for my own legacy sake — a Libra clause,” Disparte told the Unchained podcast on Saturday. Any non-bank that wants to mint a dollar-pegged token must spin up “a standalone entity that looks more like Circle and less like a bank,” clear antitrust hurdles and face a Treasury Department committee with veto power over the launch. Banks don’t get a free pass either. Lenders that issue a stablecoin must house it in a legally separate subsidiary and keep the coins on a balance sheet that carries “no risk-taking, no leverage, no lending,” Disparte noted. Read more
Cardano founder Charles Hoskinson says he will read the full audit report over a livestream when it is released next month. Cardano founder Charles Hoskinson says he has requested further transparency on the initial audit of his firm Input Output Global’s (IOG) ADA holdings, but anticipates it will be ready for public release within a month. “I just received the first copy of the audit report. I requested a lot more detail and context in several areas, but it’s shaping up quickly,” Hoskinson said in an X post on Saturday. “I believe we are on schedule for a mid-August release, assuming the work continues at this pace and there are no delays,” he added. Read more
Santiment says the “historic social dominance spike” may indicate another buying opportunity for Bitcoin soon. Nearly half of all crypto-related mentions on social media this week centered around Bitcoin as it hit new highs, a level of dominance that may signal a local top and a potential short-term pullback, according to sentiment platform Santiment. “As Bitcoin's market value crept above $123.1K for the first time in its 17+ year history, there was an equally historic social dominance spike,” Santiment analyst Brian Quinlivan said in a report on Wednesday. “43.06% of all crypto discussions were about $BTC just as the coin’s market value was peaking,” Quinlivan added. Quinlivan said that “the sudden spike was indicative of many retail traders FOMO’ing in,” challenging the view held by several other industry participants who believe retail investors have yet to enter the market. Read more
Stellar may be setting up more upside after XRP's recent price surge, US President Donald Trump signed one of the first bills related to crypto, and other news. US President Donald Trump signed one of the first bills related to crypto and blockchain of his administration into law on Friday after delays due to debates in the House of Representatives and Senate. In a Friday signing ceremony attended by many cryptocurrency company executives and high-ranking Republicans, including Vice President JD Vance and House Speaker Mike Johnson, Trump signed the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act into law. The president acknowledged the support of several crypto figures in attendance, including Kraken co-CEO David Ripley, Gemini co-founders Cameron and Tyler Winklevoss, Coinbase CEO Brian Armstrong, Circle CEO Jeremy Allaire, Tether CEO Paolo Ardoino and Robinhood CEO Vladimir Tenev. Read more
The line between a central bank digital currency and a centrally-managed, government-regulated stablecoin is thin, critics argue. United States congresswoman Marjorie Taylor Greene said that the GENIUS stablecoin bill creates a “backdoor” for the government to effectively create a central bank digital currency, veiled as privately issued crypto tokens. The lawmaker said that regulated stablecoins feature “functional surveillance capabilities,” which make them indistinguishable from CBDCs. In a separate social media post, she added: Rep. Greene’s comments echo a growing tide of individuals in the Bitcoin and crypto communities sounding the alarm on regulated stablecoins and the potential for these privately-issued tokens to become captured by the state. Read more
The decline of the US dollar and the loss of purchasing power due to fiat currency inflation will drive global demand for Bitcoin. Macroeconomic drivers, including the decline of the US dollar (USD), will dampen the effects of the Bitcoin (BTC) halving cycle, which is the source of the market booms and busts that have been a feature of BTC since 2009, according to investor and founding partner of venture capital (VC) firm Draper Associates, Tim Draper. “Between 10-20 years from now, the dollar will be extinct,” Draper told Cointelegraph in an interview. “The world is changing, and we are watching it happen. We are right in the center of an anthropological leap forward,” he added. Draper said investors increasingly view Bitcoin as an “escape valve” against poor governance, distrust of banking institutions, fiat currency inflation, and geopolitical tensions, which are all driving global adoption of the supply-capped digital currency. The VC added: Read more
The cybersecurity exploit occurred due to a "sophisticated server breach," CoinDCX CEO and co-founder Sumit Gupta announced on Saturday. Indian cryptocurrency exchange CoinDCX was hacked on Friday, leaving the exchange drained of $44 million. The hackers compromised one of CoinDCX’s internal accounts used for “liquidity provisions” with another exchange through a server breach. No user funds were affected due to the exploit, according to CoinDCX CEO Sumit Gupta. The CEO also said that all customer funds remain safe and wrote: Read more
The FHFA directive on crypto in mortgage risk assessments risks excluding self-custodied assets, potentially increasing counterparty risk for homebuyers. Opinion by: Margaret Rosenfeld, chief legal officer of Everstake The Federal Housing Finance Agency’s (FHFA) recent directive to explore how cryptocurrency might be included in single-family mortgage risk assessments is a welcome and long-overdue step. If implemented, it could allow long-term crypto holders to use their digital assets when qualifying for a mortgage without being forced to liquidate them. Read more
Multiple chart technicals and indicators suggest that XRP price has the potential to stage a parabolic rally over the next few weeks. Key takeaways: XRP price just hit multiyear highs of $3.66, but technicals suggest there’s more room to run. Multiple XRP charts signal a potential “explosive” move, targeting $7-$20 if key resistances are broken. Read more