Major Banks Dive into Stablecoins

Bank of America CEO Brian Moynihan confirmed BofA is actively developing a stablecoin, emphasizing client demand and awaiting regulatory clarity. Citigroup’s Jane Fraser and JPMorgan’s Jamie Dimon also confirmed their banks are exploring stablecoin issuance and integration.

U.S. Approaches Crypto Reg with “Crypto Week”

Congressional action: the House is advancing three key bills—the GENIUS Act (stablecoin framework), Clarity Act (defining digital assets), and Anti‑CBDC Surveillance State Act (restricting Fed-issued CBDC)—as part of a push dubbed “Crypto Week”.

The Senate-passed GENIUS Act would codify regulatory standards for payment stablecoins.

Crypto Markets React to Legislation

Markets rallied on stablecoin bill optimism: Bitcoin surged ~2% to ~$120K; Ethereum jumped ~8% to ~$3,288, while Circle and Coinbase stocks climbed.

Ethereum continued its strong run, trading above $3,400—a ~10% one-day gain—and Bitcoin recovered sharply from $116K dip.

Indian Investors Fuel Market Momentum

As Bitcoin sets new highs, Indian retail has followed suit. Major Indian exchanges (CoinDCX, Coinswitch, Mudrex, Zebpay) saw combined net inflows of $150M–200M over the past week, demonstrating growing global reach.

Trump-Linked Token Goes Tradable

Trump’s World Liberty ($WLFI) memecoin became tradable after a 99.94% token-holder vote, raising concerns over potential presidential conflicts of interest. Critics argue this development blurs lines between personal gain and regulatory oversight.

What to Watch

Crypto Week has set the stage for significant developments in the digital asset landscape. With major financial institutions exploring stablecoins and legislative progress on the horizon, the coming weeks could usher in a new era of regulatory clarity and market growth.