In a major blow for the crypto industry, several bills championed by President Donald Trump failed to pass a crucial procedural vote in the House of Representatives on Tuesday. According to CNBC, the final tally stood at 196-223, with 13 Republican representatives siding with Democrats to block the motion, marking a rare moment of dissent among House Republicans. House Rejects Key Crypto Legislation The proposed legislation included notable measures such as the GENIUS Act, which aimed to establish regulatory clarity for cryptocurrencies including stablecoins, which have gained notable traction over the past months among traditional firms. In light of the failed vote, House leadership has indicated plans to hold another vote later in the day. However, it remains uncertain whether this subsequent vote will address the same bills or if amendments will be made to appease those who opposed the original motion. Related Reading: Unraveling The Bitcoin Boom: Experts Decode Record $123,000 Surge This vote occurred during “Crypto Week,” a period enthusiastically promoted by President Trump in an earlier Tuesday post on the social media site X (formerly Twitter), in which the president stated: The GENIUS Act is going to put our Great Nation lightyears ahead of China, Europe, and all others, who are trying endlessly to catch up, but they just can’t do it. Digital Assets are the FUTURE, and we are leading by a lot! Get the first Vote done this afternoon (ALL REPUBLICANS SHOULD VOTE YES!). Market Reacts Negatively Despite the optimism surrounding “Crypto Week,” the failure of the vote sent ripples through the market. Notable crypto-linked stocks took a hit in response, with shares of stablecoin issuer Circle (CRCL) plummeting more than 7% toward $195. Related Reading: TD Cowen Projects Bitcoin At $155K By Year-End, Raises Strategy’s Price Target After the news broke, crypto exchange Coinbase (COIN) also saw its stock decline by over 4%, while digital asset firm Marathon Digital Holdings (MARA) experienced a dip of more than 2%. Featured image from DALL-E, chart from TradingView.com
Grayscale has quietly filed for an IPO, seeking a listing on U.S. public markets amid a growing wave of filings from crypto companies.
Circle, the issuer of the USDC stablecoin, is reportedly exploring a partnership with Ant Group to extend its presence into China, according to a July 10 report by Bloomberg. Sources familiar with the matter reportedly said that Ant Group, parent company of Alipay and one of China’s largest financial technology firms, plans to integrate USDC […]
The post Circle eyes China market Alipay integration amid reported Ant Group partnership appeared first on CryptoSlate.
The move is part of Ant's broader effort to build a platform that supports various forms of digital currencies, including tokenized assets.
Ant International will add Circle’s USDC to its network after U.S. compliance clears, positioning the stablecoin inside a $1 trillion+ payments ecosystem.
Assume any exchange that has some material amount of USDC has an agreement with Circle, said one person familiar with the situation.
A major security incident struck the decentralized exchange GMX, siphoning approximately $42 million from its Arbitrum-based v1 perpetual platform. In response, GMX has sent an on-chain message to the hacker offering a 10% white-hat bounty. The platform stated that no legal action will be pursued if the remaining funds are returned within 48 hours. This […]
The post GMX suffers $42M hack, issues 10% bounty offer to hacker appeared first on CryptoSlate.
Circle and OKX have partnered to let the exchange’s 60 million users swap dollars for USDC to expand stablecoin liquidity.
Ripples seeks a U.S. banking license that would provide federal oversight for RLUSD, its stablecoin which just crossed over $500 million in market cap.
Stablecoins captured three-quarters of institutional crypto OTC volume in the first half of 2025 as interest surges.
The crypto exchange is becoming one of USDC's most active advocates across payments and financial services, Bernstein said.
Real-time payment rails and stablecoins belong together, said Ivy CEO Ferdinand Dabitz.
Prominent blockchain investigator ZachXBT has criticized two prominent stablecoins, including Ripple’s RLUSD and Circle’s USDC, highlighting concerns about their compliance and adoption strategies. In a now-deleted social media post, ZachXBT questioned Ripple’s RLUSD stablecoin, arguing that it lacked an authentic user base and relied on paid partnerships to create the illusion of organic growth. Due […]
The post ZachXBT deletes call out of Ripple RLUSD adoption but questions trust appeared first on CryptoSlate.
Citi's $243 price target suggests roughly 34% upside from last night's close just above $181.
A federal trust charter would bring Circle under direct federal bank regulator oversight, aligning it with how traditional financial institutions are overseen.
The Wall Street bank started coverage of the stablecoin issuer with an underweight rating and a $80 price target.
The company's stock performance has been boosted by progress on the GENIUS Act, which could increase revenue for Coinbase through stablecoin-related income.
The crypto custodian rated USDC and AUSD poorly for regulatory oversight and reserve management, while executives from VanEck, Coinbase and others questioned the ranking.
South Korea’s retail traders just made Circle their top foreign stock as a new president ramps up stablecoin regulations.
PLUS: Bakkt is entering the BTC Treasury market with a $1 billion BTC purchase.
Taurus’s stablecoin privacy layer uses zero-knowledge proofs and was built atop the Aztec Network.
The Trump appointee overseeing the nation's housing agencies said Freddie Mac and Fannie Mae should take mortgage applicants' crypto holdings into account.
Based on reports, stablecoin issuance has kept climbing for the past 90 days, with billions of dollars flowing in each week. Investors appear to be waiting for a clear sign before moving capital. Right now, USDT holds over 66% of that market, while USDC and DAI share the rest. In total, stablecoins account for about $250 billion, or almost 8% of all crypto assets. Related Reading: Bunker Buster: Ethereum Titans Stake $100 Million Amid US-Iran Hostilities Stablecoin Supply Hitting New Highs Demand for a trusted dollar peg is driving this growth. Tether leads by a wide margin because many traders trust its stability. Stablecoin reserves have swelled, even as other segments stay quiet. This points to plenty of cash on the sidelines. ????Billions in Stablecoins are issued weekly, and the 90-day change for all Stablecoins shows a large amount of liquidity available in the market. Tether (USDT) stands out, representing 66.2% of the entire Stablecoin market. Currently, the Stablecoin market cap is close to $250B… pic.twitter.com/DugpqDiEPl — Alphractal (@Alphractal) June 24, 2025 Bitcoin And Stablecoin Dominance Bitcoin and stablecoins together make up roughly 74% of the total crypto market. That’s a big number. In past cycles, once those balances peak, money often moves into smaller tokens. Right now, Bitcoin’s price is steadying after recent swings. Stablecoin balances keep growing. I can’t promise anything, but there’s a strong chance that a powerful Altcoin Season will take hold in the third quarter of 2025. I had already mentioned this in some posts before, about June and July, and I still stand by that analysis. The main reasons are the large amount of… https://t.co/TjRyxBxSKs — Joao Wedson (@joao_wedson) June 24, 2025 Altcoin Season On The Horizon Based on forecasts from analyst Joao Wedson, altcoins could see a lift in Q3 2025. He points to the huge amount of stablecoin liquidity and persistent doubt among retail and big players. That stage of doubt has come before in other cycles, and it usually marks a turning point. When confidence returns, altcoins tend to surge. Investors Poised On The Sidelines Many holders seem ready to hit buy. They’re holding onto stablecoins until charts, on-chain data or macro news clear up. A boost in stablecoin flows to exchanges could be one early hint that rotation is starting. Large moves by whale wallets into low-cap tokens may follow. In recent weeks, inflows of stablecoins into trading platforms have ticked higher. That’s a key signal to watch. If weekly inflows rise sharply—say above $5 billion—it may show serious appetite building. Past cycles saw similar spikes just before altcoin rallies began. Another one to monitor is decentralized finance platform volume. When stablecoins move from wallets to lending or liquidity pools, it usually indicates that traders are looking for return and preparing to swap to other tokens. Related Reading: Bitcoin Paces $15 Billion YTD Influx Amid 10-Week Fund Flow Streak Market observers will also be monitoring Bitcoin’s consolidation range closely. If it remains above recent lows for a few weeks, that would give confidence a boost everywhere. Then we could see smaller cryptocurrencies move higher on new liquidity. Based on these signals, it looks like we’re in a waiting game. Stablecoin supplies are at record levels, Bitcoin is settling, and altcoin sentiment remains low. When all that lines up just right, funds are likely to rotate. Then the altcoin sector could see new life. Featured image from Imagen, chart from TradingView
The decline coincided with a BIS report casting doubts about stablecoins' future role in global finance.
The payments giant is integrating PYUSD, USDG and FIUSD into its network, expanding stablecoin payments and settlements for consumers and merchants.
Cathie Wood’s ARK Invest sold around $110 million worth of Circle (CRCL) shares on June 23, continuing a wave of profit-taking just weeks after the stablecoin issuer went public. According to the firm’s latest trading disclosure, the firm’s ARK Innovation ETF (ARKK) offloaded the most significant chunk of CRCL with the sale of 306,921 shares, […]
The post Ark Invest’s Cathie Wood dumps $110M more Circle shares amid valuation surge flipping Robinhood appeared first on CryptoSlate.
The firm had earlier sold Circle shares in three tranches.
Circle’s blistering rally reflects investor hunger for stablecoin exposure, but lofty valuation multiples are raising eyebrows.
Fiserv Inc., a major player in global payments and financial services, has unveiled plans to launch a USD-pegged stablecoin called FIUSD on the Solana blockchain, according to a June 23 statement. The Nasdaq-listed company stated that the stablecoin was built using infrastructure from Paxos and Circle. It is expected to go live by the end […]
The post Nasdaq-listed Fiserv to launch USD-pegged stablecoin on Solana by the end of the year appeared first on CryptoSlate.
The Fortune 500 fintech provider plans to roll out its digital asset platform with U.S. dollar stablecoin FIUSD to 10,000 institutions and 6 million merchants.