United States Securities and Exchange Commission (SEC) Chair Paul Atkins praised the GENIUS Act during a symposium on Tuesday, calling its passage a “seminal” moment. Paul Atkins Celebrates ‘Seminal’ Moment in Congress Speaking at the SALT Wyoming Blockchain Symposium 2025 , Atkins commended members of Congress for passing the GENIUS Act last month. I’m pleased to join SALT's Wyoming Blockchain Symposium today to discuss the SEC’s Project Crypto. Tune in at 1:05 p.m. ET to watch: https://t.co/ANwubMwx7s — Paul Atkins (@SECPaulSAtkins) August 19, 2025 “As we go on, there are a lot of questions to be answered, so I salute the folks in Congress who have passed the GENIUS Act,” Atkins said, labelling it as a “seminal step for the U.S. Congress and government” as a whole. Despite having “a lot of spring cleaning to do at the SEC,” Atkins praised the key steps taken toward crypto clarity in recent months. “You’ve needed it so badly, you’ve paid enough in legal fees and whatnot,” the federal regulator said. “Not just to fend off the government but to try to figure out the crazy quilt of different opinions, court opinions, and statutes… “I think there’s a lot of great ideas we’re setting out at the SEC to implement them as we can,” he added. U.S. Treasury Secretary Calls GENIUS Act ‘Essential’ Atkins’ comments come just one day after the U.S. Treasury called for the public comment required by the GENIUS Act on how the government could help prevent “illicit-finance risks” tied to digital assets . Following news of the request for comment, U.S. Treasury Secretary Scott Bessent praised implementing the GENIUS Act as “essential” to “securing American leadership in digital assets.” “Stablecoins will expand dollar access for billions across the globe and lead to a surge in demand for U.S. Treasuries, which back stablecoins,” Bessent said. U.S. President Donald Trump signed the GENIUS Act into law last month in what crypto proponents viewed as a key marker for developing a crypto-friendly regulatory framework stateside. With more crypto bills heading down the congressional pipeline, it is still unclear just how much clarity the stablecoin law can bring on its own. The post Chair Paul Atkins Praise The Genius Act As A ‘Seminal’ Step For Crypto appeared first on Cryptonews .
Bullish has shattered precedent with its $1.15 billion initial public offering (IPO), becoming the first U.S.-listed company to raise a record-breaking sum entirely in blockchain-based stablecoins. Bullish has arranged to receive $1.15 billion of proceeds from its recently completed initial public offering in stablecoins, which represents a historic step for the use of stablecoins in an initial public offering in the United States. https://t.co/hh9i22RS9I — Bullish (@Bullish) August 19, 2025 On August 14, Bullish debuted on the New York Stock Exchange under the ticker BLSH, with billionaire Peter Thiel among its backers. Analysts are already calling this a watershed moment. “This isn’t just another IPO—it’s the clearest signal yet that Wall Street is being rewired by stablecoins,” said one senior market strategist while speaking to CryptoNews. Bullish Diversified Stablecoin IPO Validates Solana’s Role as the Go-To Settlement Layer @Bullish has priced its initial public offering at $37 per share, giving the cryptocurrency exchange a market capitalization of $5.4 billion. #Bullish #IPO https://t.co/69QK4cYx10 — Cryptonews.com (@cryptonews) August 13, 2025 The IPO leaned heavily on USD Coin (USDC) and Euro Coin (EURC), both custodied by Coinbase and increasingly anchored on the Solana blockchain. Jefferies, acting as billing and delivery agent, coordinated minting, conversions, and transfers across several issuers spanning the U.S., Europe, and Asia. The offering also drew contributions from a diverse range of stablecoins, showcasing how the cross-border infrastructure is now underpinning capital markets activity. Among the tokens received were USD CoinVertible (USDCV) and EUR CoinVertible (EURCV) from Société Générale-FORGE, Global Dollar (USDG) issued by Paxos, and PayPal USD (PYUSD), also issued by Paxos. Additional settlements were made in Ripple USD (RLUSD), issued on the XRP Ledger by Ripple, USD1 from World Liberty Financial, Agora Dollar (AUSD) from Agora, and EURAU from AllUnity, reflecting the breadth of issuers and blockchains involved in what market observers describe as the most diversified stablecoin-based settlement ever executed in a public listing. With the majority of the settlements made using stablecoins on Solana, the IPO serves as validation of Solana’s role. Recently, Solana’s stablecoin ecosystem has experienced notable growth, with the total market capitalization of stablecoins on the Solana network standing at $11.739 billion, marking a 5.04% increase over the past 7 days, according to DeFiLlama . Source: DeFiLlama USDC and EURC now account for a strong portion of daily stablecoin volume on Solana, which has become the leading blockchain for these assets. According to recent data, Solana stablecoin transfers exceeded $300 billion in cumulative volume in 2025. “We view stablecoins as one of the most transformative and widespread use cases for digital assets,” said David Bonanno, Bullish CFO. “Internally, we leverage them for rapid and secure global fund transfers, especially on the Solana network.” The rise of stablecoins has been aided in part by the GENIUS Act, recently passed in the U.S., which established clearer guidelines for stablecoin issuance and oversight. By providing regulatory certainty and influencing frameworks abroad, the law has encouraged greater adoption of U.S.-backed digital assets both domestically and internationally. A joint report from Keyrock and Bitso reveals that stablecoin volumes reached $6.3 billion in February 2025, with B2B transactions accounting for $2.7 billion and card payments surpassing $1 billion. At this growth rate, the sector is projected to approach $1 trillion in annual volumes by 2030. USDC Still Dominates, but Paxos, PayPal, and New Entrants Push Stablecoins Into the Next Phase While Circle’s USDC and EURC dominated the Bullish raise, other stablecoin projects are carving out market share and momentum. @Paxos has applied for a US national trust bank charter, aiming to manage digital assets for clients under federal oversight. #Stablecoin #Banking https://t.co/bujGJtf1fW — Cryptonews.com (@cryptonews) August 11, 2025 Paxos, for instance, deployed both Global Dollar (USDG) and PayPal USD (PYUSD) into the IPO settlement. The company also made headlines this month by applying for a national trust charter, which would extend its authority beyond New York and put it under direct supervision of the U.S. Office of the Comptroller of the Currency (OCC). If approved, Paxos would become one of the most heavily regulated blockchain firms globally, a move expected to appeal to large financial institutions. New entrants are also making noise. Stable, a network centered on Tether’s USDT, raised $28 million in seed funding from backers including Bitfinex, Hack VC, Franklin Templeton, and KuCoin Ventures. Plasma, which entered the market in January, secured $24 million , while Circle announced Arc , a blockchain designed for its own stablecoin ecosystem. Payment giant Stripe is building 'Tempo' blockchain with crypto VC Paradigm targeting Fortune 500 companies following $1.1B Bridge acquisition and Privy purchase. #Stripe #Blockchain https://t.co/GdVktNhRoy — Cryptonews.com (@cryptonews) August 12, 2025 Even Stripe joined the wave, with a reveal of its Tempo blockchain project , while tokenization specialists such as Securitize, Ondo Finance, and Dinari announced new blockchain initiatives to expand stablecoin and asset tokenization infrastructure. The post Bullish IPO Raises Record $1.15B With Solana Stablecoins – Is This Crypto’s Takeover? appeared first on Cryptonews .
Fed officials have long been unusually divided on the issue of interest rate cuts. The minutes of the July meeting, to be released today, will reveal just how deep this division runs. The Fed minutes will be released today at 9:00 PM (UTC+3). Bitcoinsistemi.com will be providing all the information immediately. At the Federal Open Market Committee (FOMC) meeting held on July 29-30, interest rates were held steady at 4.25%-4.5%. However, the decision was made with the opposition of two board members, the first in over 30 years. Michelle Bowman and Christopher Waller had previously announced their support for a quarter-point rate cut. While statements from Fed officials since the meeting have varied in tone, most remain cautious, particularly regarding the impact of new tariffs on inflation. Conversely, many potential candidates to replace Jerome Powell have openly advocated for rate cuts, further fueling interest in the minutes. Related News: Watch Out: Numerous Economic Developments and Altcoin Events Coming Up Next Week – Powell Will Also Be Speaking! Here Is the Day-by-Day, Hour-by-Hour Schedule Market expert Ed Yardeni commented, “The minutes may reveal how persistent the doves are and how rigid the hawks are.” Data released since then has complicated the picture. July employment data pointed to a slowdown in the labor market, while on the inflation front, consumer prices fell and producer costs rose. Meanwhile, pressure from the White House to cut interest rates is growing. Treasury Secretary Scott Bessent argued that the rise in the producer price index was largely due to the surge in the stock market. Komal Sri-Kumar, President of Sri-Kumar Global Strategies, warned, “The risk of economic policies being influenced by political pressures is increasing.” Fed officials have always emphasized that they steer clear of political debate and base their decisions solely on employment and price stability. However, the ongoing search for a new chairman has made maintaining this independence more difficult. “The Fed's independence is based less on legal guarantees than on a shared understanding that monetary policy should be free from partisan influence,” Sri-Kumar said. “This norm is currently under significant pressure.” *This is not investment advice. Continue Reading: Watch Out: Crucial Day Today as Fed Minutes Are Released – Here’s the Time and What the Experts Are Saying
Ethereum whales are actively purchasing despite a market downturn, with two new addresses acquiring approximately $200 million in ETH. This trend indicates strong long-term confidence in Ethereum’s potential. Whale activity
Thumzup is planning to acquire Dogehash in an all-stock deal that is expected to close later this year.
Fed Chair Jerome Powell faces a critical dilemma ahead of his Jackson Hole speech on Friday. Citi Director and Global Economist Robert Sockin told Bloomberg Surveillance that the impact of higher tariffs on inflation worries Powell and that recent labor market data raises the possibility of a September rate cut. Sockin noted that it was difficult for Powell to establish a clear direction in his speech, saying, “Powell is currently under political pressure. There is a lot of data to be released before the September meeting. Therefore, it is unlikely he will lean strongly in one direction in his speech.” Related News: Bitcoin Price Drops to $113,000 - Analysis Company Shares Report on What May Happen Next The economist stated that the Fed will prioritize growth in the coming period despite rising inflation. Sockin said, “We expect core inflation to reach 3% by the end of the year. While this rate is above target, the Fed may implement a few interest rate cuts to support growth against the risk of recession.” Sockin highlighted the slowdown in the labor market and the supply-demand imbalance, predicting Powell would highlight this issue in his speech. However, he stated that the Fed wouldn't be greatly bothered by inflation hovering around 2.25%-2.5%. According to Sockin, Powell's Jackson Hole speech will be “more of a cautious assessment of the economic outlook than a surprise.” The likelihood of rate cuts will largely depend on the trajectory of inflation and the impact of trade policies in the coming months. *This is not investment advice. Continue Reading: Jerome Powell to Deliver a Critical Speech This Week: It Could Affect the Market – Here’s What We Know
Key Takeaways: Tether appointed Bo Hines, ex-White House Crypto Council director, as strategic advisor for U.S. digital assets strategy. The move reflects a broader trend of crypto firms hiring former policymakers to guide U.S. market engagement. Stablecoin legislation under consideration in Congress could shape the future operating environment for companies like Tether. Tether has appointed Bo Hines, the former executive director of the White House Crypto Council under President Donald Trump, as strategic advisor for Digital Assets and U.S. Strategy, according to a press release published on August 19. The company said Hines will begin immediately, working with Tether’s leadership team on its U.S. strategy and policy engagement. His responsibilities include coordinating with regulators and industry participants as the company looks to expand its activities in the United States. Tether to Focus on U.S. Expansion Tether Chief Executive Officer Paolo Ardoino said Hines’ appointment indicates the company’s efforts to strengthen its presence in the U.S. market. “Bo’s appointment demonstrates our commitment to building a strong U.S.-based presence that spans across multiple sectors, starting with digital assets and expanding to new opportunities, including a deep focus on potential further investments in domestic infrastructure,” Ardoino said. He added that Hines’ understanding of the legislative process and blockchain policy makes him “an invaluable asset.” Hines said his experience in government has shaped his view of stablecoins as a tool for expanding access to financial services. Thrilled to join @Tether_to ! Huge thanks to @paoloardoino & the team for the warm welcome. Excited to help build an ecosystem of digital asset products that set the standard for compliance & innovation—empowering U.S. consumers and reshaping our financial system. The best is yet… https://t.co/DloARijWkh — Bo Hines (@BoHines) August 19, 2025 “During my time in public service, I witnessed firsthand the transformative potential of stablecoins to modernize payments and increase financial inclusion,” Hines said. He added that he was “thrilled to join Tether at such a pivotal moment” and to contribute to developing products for the U.S. market. Government Officials Enter Private Sector Hines played a role in advancing digital-asset initiatives during his time at the White House, including work on interagency groups related to consumer protection and stablecoin oversight. Hines, a Yale graduate and former collegiate athlete, also holds a J.D. from Wake Forest University School of Law. He previously worked with federal agencies and industry representatives on digital asset policy before entering the private sector. Hires of former government officials by digital-asset firms have increased in recent years, with companies seeking to strengthen policy engagement amid shifting U.S. regulation. These appointments are often seen as a way to bridge technical expertise with policy-making processes. Frequently Asked Questions (FAQs) What U.S. legislation could affect stablecoins? Congress is considering bills that would set reserve requirements, define licensing standards, and clarify the roles of regulators in supervising stablecoin issuers. What are U.S. regulators focusing on with stablecoins? Authorities are assessing risks tied to payment system stability, reserves management, and links to the broader financial sector. What might this mean for U.S. consumers? Clearer regulatory pathways could expand the availability of stablecoin products for payments and financial access, but under stricter oversight. The post Tether Hires Ex-White House Crypto Council Director Bo Hines as U.S. Strategy Advisor appeared first on Cryptonews .
The American Innovation Project’s board includes executives from the Solana Policy Institute, Blockchain Association, Paradigm, Digital Currency Group and Coinbase.
Bitcoin ETFs lost $122 million and ether ETFs lost $197 million on Monday, ending their inflow streaks. Heavy redemptions in Blackrock’s funds and Ark 21Shares drove the pullback, with no ETH ETFs recording inflows. Market Pause: Crypto ETFs See Heavy Outflows After Record-Breaking Run The exchange-traded fund (ETF) rally that had defined crypto markets over
Ethereum whales show resilience as they continue to stack up despite price plunge