Stablecoin

Crypto legislation faces new Washington hurdle

May 8, 2025

The Guidance The Genius Act is losing support from crypto-friendly Democrats in the US Senate. Bills in the Senate often fail to pass without a 60-vote supermajority. A version of this story appeared in our The Guidance newsletter on May 5. Sign up here. GM, Aleks here. Landmark stablecoin legislation has hit a snag in […]

Democrats storm out of hearing on crypto bill over Trump ‘corruption’

May 8, 2025

House Democrats walked out of a Congressional hearing on crypto legislation Tuesday. They were protesting President Donald Trump’s crypto ventures. The outburst comes a day after House Republicans unveiled draft legislation that would create a framework for digital asset regulation. A rift over US crypto policy deepened Tuesday as several Democratic lawmakers walked out of […]

USDT Reigns as Stablecoin King

May 8, 2025

Tether, USDT, is number three in the list of cryptocurrencies with a market cap of $149.33 billion. It’s really a stablecoin that you can still buy for one dollar and the price that remained unchanged at $0.9998 really confirms that. Tether as a USDT really maintains the value of your money or some other assets […]

Tether earns $1B in Q1 profit, holds $5.6B in excess reserves

May 8, 2025

Tether, the company behind the world’s largest stablecoin by market capitalization, disclosed in its 2025 first-quarter report that it posted an operating profit of more than $1 billion and holds nearly $120 billion in U.S. government securities. The company’s Q1 2025 financials show that it holds $98.5 billion in U.S. Treasury bills and maintains further […]

Trump’s media conglomerate says it’s exploring a cryptocurrency

May 8, 2025

Trump Media's Truth+ token would make it the fifth cryptocurrency with ties to the president. The token could be used to pay for subscriptions. Both Republicans and Democrats have voiced concerns about Trump's crypto ventures. The Trump crypto empire is looking to add a new token. Trump Media and Technology Group, the company behind the […]

Tether’s U.S.-Focused Stablecoin Could Launch Later This Year, CEO Paolo Ardoino Says

May 8, 2025

Tether, the company behind the $148 billion stablecoin USDT, plans to launch its U.S.-focused stablecoin later this year or early 2026 depending on the nation's stablecoin legislation, CEO Paolo Ardoino told CNBC in an interview. "Realistically, it depends on the timeline of the final legislation on stablecoins, but we are looking at [launching the product] […]

Fresh $1B in Tether mints on Tron, closing gap again with Ethereum

May 8, 2025

The Tron network has drawn closer to regaining the lead from Ethereum in Tether circulation after another big mint by the US stablecoin issuer. On May 5, Tether minted another $1 billion Tether USDTUSD on the Tron network, according to Arkham Intelligence. This brings the total USDT on Tron to $71.4 billion, according to the […]

SUI Holds $3.30: Bulls Target New All-Time High as TVL Surpasses $1.74B

May 7, 2025

SUI gains bullish momentum following a wedge breakout. With a golden crossover forming and TVL rising, can it reach the $6 milestone? With a strong attempt to break into the top 10 cryptocurrencies, SUI is currently trading at $3.34. The project boasts a market cap of $11.16 billion and has recorded a 0.64% gain in […]

Trump Raising Millions at Crypto Events Prompts Ethics Concerns

May 7, 2025

Donald Trump is set to raise millions of dollars from the crypto industry this month, but the events have set off alarms for ethics experts. The president was heading to his Trump National Golf Club on Monday night for a crypto industry fundraiser. It’s the first of two major crypto-related events the president will be […]

Democrats Find Crypto Too Corrupt to Collaborate on for the Moment

May 7, 2025

× Expand May James/SOPA Images/Sipa USA via AP Images As we’ve been covering at the Prospect, the crypto industry has been angling to cash in the rewards it earned after bankrolling dozens of politicians in their 2024 campaigns. In the Senate, a handful of Democrats teed up the first effort in this payback by endorsing […]