Independent thinking for complex markets and current events
Despite the consensus narrative, what we are currently experiencing globally is not “de‑dollarization,” but a broad loss of confidence in developed economies’ fiat currencies and sovereign debt as a reserve asset for central banks and institutions. This fundamental loss of confidence in the solvency of developed economies’ sovereign issuers is boosting demand for gold. USA₮ …
Hong Kong’s banking system just entered high alert. What began as a coordinated stablecoin rollout is now unraveling into something more serious. On July 22, internal communication circulated among Hong Kong’s monetary authorities warned of acute stress across token-backed reserves and real-time settlement chains. The letter outlined scenarios where liquidity could evaporate if collateralized redemption …
JUST IN: Tether CEO Paolo Ardoino declares, “Tether won’t try to make USDT comply with new U.S. laws.” Their stance follows the SEC’s latest crackdown on stablecoins. It’s clear this fraud is unraveling. Tether’s days in the U.S. are numbered. Once it goes bust, BTC will… — Jacob King (@JacobKinge) April 4, 2025
Eleanor Terrett @EleanorTerrett NEW: Today @SenatorHagerty introduces his stablecoin bill in the Senate. The bill is called the GENIUS (Guiding and Establishing National Innovation in U.S. Stablecoins) Act and aims to provide clear regulations for stablecoins. Here are the highlights of the bill which is based off a discussion draft Hagerty rolled out in October. …
Blockchain firm Ripple said it’s launching a U.S. dollar stablecoin, marking an entry into the $150 billion stablecoin market. The move will pit Ripple against stablecoin giants Tether, which is behind the largest stablecoin UDST, and Circle, the issuer of USDC. Ripple is first launching its stablecoin in the U.S., but didn’t rule out offering …
PayPal Holdings Inc. is rolling out a stablecoin, the first by a large financial company and a potentially significant boost to the sluggish adoption of digital tokens for payments. PayPal USD (PYUSD) is issued by Paxos Trust Co. and fully backed by US dollar deposits, short-term Treasuries and similar cash equivalents, the San Jose, California-based …