{"id":6834,"date":"2025-06-27T17:20:44","date_gmt":"2025-06-27T17:20:44","guid":{"rendered":"https:\/\/baiwp.com\/coindesk-weekly-recap-stablecoins-dominate-the-cycle\/"},"modified":"2025-06-27T17:20:44","modified_gmt":"2025-06-27T17:20:44","slug":"coindesk-weekly-recap-stablecoins-dominate-the-cycle","status":"publish","type":"post","link":"https:\/\/baiwp.com\/it\/coindesk-weekly-recap-stablecoins-dominate-the-cycle\/","title":{"rendered":"CoinDesk Weekly Recap: Stablecoins Dominate the Cycle"},"content":{"rendered":"

With the near-passage of the GENIUS Act<\/a> and a host of companies announcing stablecoin initiatives, stablecoin-related assets have been on a tear.
Circle, issuer of USDC, has seen its stock rise about 500% since its debut on June 5. This week, the company was valued at a staggering $77 billion<\/a>, which is well above the total market cap of USDC itself (about $62 billion).<\/p>\n

Bullish signals for stablecoins were all around:<\/p>\n

CRCL is now the most popular foreign stock in South Korea<\/a>.
The leading stablecoin issuer, Tether, has so much spare cash it can afford to have a determinative stake in Juventus<\/a>, an Italian soccer team.
Coinbase, which actually makes more money from USDC than Circle, has seen its stock rise to its highest level in four years<\/a>.
Even Euro-backed stablecoins, long a forgotten cousin of USD coins, are surging<\/a>. Combined, they\u2019re up 44% on the year, led by Circle’s EURC.<\/p>\n

Stablecoins are the “quiet winners” from prediction markets like Polymarket<\/a>.
And so on. <\/p>\n

Traditional payment giants, like Mastercard and Visa, have been responding to stablecoin mania by making a flood of announcements of their own<\/a>. Mastercard announced new tie-ups with Moonpay, Chainlink and Kraken this week<\/a>. <\/p>\n

Amid all the stablecoin news, we still had space for plenty of other topics. <\/p>\n

SEI surged as well<\/a> (albeit on stablecoin news).
The Federal Reserve officially said crypto no longer carried \u201creputational risks\u201d for banks<\/a>, leaving them to provide all the financial services they want for crypto companies.
World Liberty Financial, the Trump family vehicle, reversed a promise to make its token non-transferable<\/a>.<\/p>\n

In the summer months, sometimes it can feel like nothing much is happening. Not this year; crypto doesn\u2019t wait for anyone. <\/p>","protected":false},"excerpt":{"rendered":"

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