You already get yield on USDC via Coinbase. What's barred I guess for now is it being automated. So your usdc you hold on Coinbase is operating similarly to a CD or high yield savings account.

Yukon Cornelius said:

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You already get yield on USDC via Coinbase. What's barred I guess for now is it being automated. So your usdc you hold on Coinbase is operating similarly to a CD or high yield savings account.

---

We are talking about if the genius act passes. It hasnt yet made it through house or trumps desk

No, the GENIUS Act, as currently written, does not allow for yield-bearing stablecoins. The legislation explicitly prohibits stablecoin issuers from paying interest or yield on the stablecoins they issue.

SMCI might be trying to breakout of this tight trading range.

Yukon Cornelius said:

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I would have thought the passing of the genuis act as a sell the news thing. But what may be fueling this run is no rate cuts since its revenue is entirely based on 3 month treasury notes

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definitely not looking like a "sell the news" event...sucker is straight up rippin'

You're right. My mistake. It did pass the senate last night so one step closer. It is interesting it will bar paying yields. Actually probably a positive for CRCL not to have to pay out yield.

Haha apparently not. This thing has been crazy. I keep expecting it to cool off.

I also think JP Morgan is bullish long term too

JMO, but I think Trump takes out Fordow and what's left of Natanz tonight. It will be after the market has closed and the markets aren't open tomorrow. That would give the market time to digest the news without the futures cratering tomorrow.

ProgN said:

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JMO, but I think Trump takes out Fordow and what's left of Natanz tonight. It will be after the market has closed and the markets aren't open tomorrow. That would give the market time to digest the news without the futures cratering tomorrow.

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markets dumping like you're right and info has leaked...

EnronAg said:

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ProgN said:

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JMO, but I think Trump takes out Fordow and what's left of Natanz tonight. It will be after the market has closed and the markets aren't open tomorrow. That would give the market time to digest the news without the futures cratering tomorrow.

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markets dumping like you're right and info has leaked...

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This drop is probably a mix of Powell's guidance and our possible strike.

Brian Earl Spilner said:

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Brian Earl Spilner said:

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Hoping SOXL can hit 21.05 before a bounce comes.

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Touched 21.05 in AH last night, down to the cent, before bouncing.

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Took a quick profit at 22.18 this morning.

Re-entered at 21.60 just now.

fauxstradamus said:

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Heineken-Ashi said:

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Who here can explain what this stablecoin bill does? I think I have a decent grasp, but I'm not the most versed on stable coins.

---

In the current iteration it does not allowing for yield bearing stablecoins to holders. This is very likely a consequence of large bank lobbyists wanting to hold about $6Trillion in assets hostage. Think about checking accounts, savings accounts that pay <0.5% interest while the banks are making 4-5% in treasuries. This is also the reason Tether is such a monster profit machine right now and I'm sure they don't want to pass on yield to holders either but I don't know

What stablecoins will do is significantly remove friction of moving money and significantly decrease time for transactions to clear. We are talking 3 days in current system to maybe 3 seconds. Also without limits on amount of funds moved per day.

Eventually I think it won't matter about getting yield directly from USDT/USDC, bank of america stablecoin, whatever. Tokenized money market funds will expand and already exist. With speed and transparency of the money movement, funds can be automatically "swept" back and forth from tokenized money market to USDC for example. It's literally a $6T dollar unlock.

I believe also the stablecoins will be backed by US treasuries so it's also a way to maintain dollar dominance and keep demand for US treasuries

Just my 2 cents

---

Exactly what I am fearful of.

Banks lend their "reserves" to the FED. These can't be used for liquidity. They are merely an accounting trick. The FED gets reserves and then pays banks a higher rate that banks have to pay to the FEd if they borrow money. It's nonsense.

What this bill does, is allow banks to issue stablecoins pegged to something like treasuries (Which are not ****ing stable), using their reserve balance. They are essentially trying to monetize their reserves that they are getting paid interest on.

And what I'm fearful of, is that IF IF IF the stablecoin values drop due to a drop in treasuries, this is essentially the mechanism that just created bail ins. Sorry mr. checking account holder, your cash you want to pull out is in this Amegycoin. And if you pull it out now, you will get less than the cash you think you have. Please wait for the coin to recover its value before pull out. And maybe even.. they dont LET YOU pull out until the stablecoin recovers.

Someone tell me Im wrong please. I want to be.

What happens when banks want their reserves back. reserves sitting on the FEDs balance sheet. But the value of which are also represented by bank stablecoins that are underwater the reserve balance amount. FED says no. Now you have a banking crisis.

Heineken-Ashi said:

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Exactly what I am fearful of.

Banks lend their "reserves" to the FED. These can't be used for liquidity. They are merely an accounting trick. The FED gets reserves and then pays banks a higher rate that banks have to pay to the FEd if they borrow money. It's nonsense.

What this bill does, is allow banks to issue stablecoins pegged to something like treasuries (Which are not ****ing stable), using their reserve balance. They are essentially trying to monetize their reserves that they are getting paid interest on.

And what I'm fearful of, is that IF IF IF the stablecoin values drop due to a drop in treasuries, this is essentially the mechanism that just created bail ins. Sorry mr. checking account holder, your cash you want to pull out is in this Amegycoin. And if you pull it out now, you will get less than the cash you think you have. Please wait for the coin to recover its value before pull out. And maybe even.. they dont LET YOU pull out until the stablecoin recovers.

Someone tell me Im wrong please. I want to be.

---

Putting on my tinfoil hat:

After some consideration, what if your scenario is actually being orchestrated to create that exact situation to cause chaos. Not for a bail in, but so the government can be seen as the hero coming in to make everyone whole by introducing the Digital Dollar. The elites of both parties end goal is being able to track every purchase you make and they can't do that with physical currency.

Tinfoil hat off.

Stolen:

SUMMARY OF FED DECISION (6/18/2025):

1. Fed leaves rates unchanged for 4th straight meeting

2. Fed says uncertainty has diminished, but is still elevated

3. Fed lowers 2025 GDP estimate to 1.4%, lifts inflation estimate to 3%

4. Median Fed forecast shows 50 basis points of rate cuts in 2025

5. Median Fed forecast shows rates at 3.6% in 2026, 3.4% in 2027

6. Interest rate futures increase likelihood of rate cuts beginning in September

The Fed pause continues even as Trump calls for 100 bps rate cuts.

El Chupacabra said:

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Stolen:

SUMMARY OF FED DECISION (6/18/2025):

1. Fed leaves rates unchanged for 4th straight meeting

2. Fed says uncertainty has diminished, but is still elevated

3. Fed lowers 2025 GDP estimate to 1.4%, lifts inflation estimate to 3%

4. Median Fed forecast shows 50 basis points of rate cuts in 2025

5. Median Fed forecast shows rates at 3.6% in 2026, 3.4% in 2027

6. Interest rate futures increase likelihood of rate cuts beginning in September

The Fed pause continues even as Trump calls for 100 bps rate cuts.

---

None of this really matters until Powell opens his mouth in about 15 min or so (at least imo)

Brian Earl Spilner said:

---

Brian Earl Spilner said:

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Hoping SOXL can hit 21.05 before a bounce comes.

---

Touched 21.05 in AH last night, down to the cent, before bouncing.

---

Brian is the Oracle of Texags

Seems to be more consistent than HA and 30k. Not quite OA territory though.

Heineken-Ashi said:

---

fauxstradamus said:

---

Heineken-Ashi said:

---

Who here can explain what this stablecoin bill does? I think I have a decent grasp, but I'm not the most versed on stable coins.

---

In the current iteration it does not allowing for yield bearing stablecoins to holders. This is very likely a consequence of large bank lobbyists wanting to hold about $6Trillion in assets hostage. Think about checking accounts, savings accounts that pay <0.5% interest while the banks are making 4-5% in treasuries. This is also the reason Tether is such a monster profit machine right now and I'm sure they don't want to pass on yield to holders either but I don't know

What stablecoins will do is significantly remove friction of moving money and significantly decrease time for transactions to clear. We are talking 3 days in current system to maybe 3 seconds. Also without limits on amount of funds moved per day.

Eventually I think it won't matter about getting yield directly from USDT/USDC, bank of america stablecoin, whatever. Tokenized money market funds will expand and already exist. With speed and transparency of the money movement, funds can be automatically "swept" back and forth from tokenized money market to USDC for example. It's literally a $6T dollar unlock.

I believe also the stablecoins will be backed by US treasuries so it's also a way to maintain dollar dominance and keep demand for US treasuries

Just my 2 cents

---

Exactly what I am fearful of.

Banks lend their "reserves" to the FED. These can't be used for liquidity. They are merely an accounting trick. The FED gets reserves and then pays banks a higher rate that banks have to pay to the FEd if they borrow money. It's nonsense.

What this bill does, is allow banks to issue stablecoins pegged to something like treasuries (Which are not ****ing stable), using their reserve balance. They are essentially trying to monetize their reserves that they are getting paid interest on.

And what I'm fearful of, is that IF IF IF the stablecoin values drop due to a drop in treasuries, this is essentially the mechanism that just created bail ins. Sorry mr. checking account holder, your cash you want to pull out is in this Amegycoin. And if you pull it out now, you will get less than the cash you think you have. Please wait for the coin to recover its value before pull out. And maybe even.. they dont LET YOU pull out until the stablecoin recovers.

Someone tell me Im wrong please. I want to be.

---

You have a much deeper understanding on the insides of the tradfi system and I respect your knowledge.

What I can't understand from your fears is how a fractional reserve system that still relies on "unstable treasuries" doesn't present the same problem that you worry about with stablecoins.

I will add this as well. The GENIUS Act mandates that stablecoins, which are cryptocurrencies designed to maintain a stable value, be backed by a 1:1 reserve of high-quality liquid assets (HQLA), such as U.S. dollars, short-term Treasury securities, or central bank reserves. This means that for every stablecoin issued, the issuer must hold an equivalent amount of these specified assets as backing.

One of my concerns is transparency from stablecoin issuers. Will there ledgers be fully transparent on the blockchain? And yes Prog could these be a precursor to CBDC style invasion of privacy?

Maybe I'm wrong but this seems to be an argument between FDIC "insured" fractional banking vs non FDIC insured fully pegged "digital dollars"

If this was intended as a slight, you obviously haven't been following Heineken very much. Can't comment on 30K. At the end of the day, I don't understand people who get on here and poke at thread contributors. Makes absolutely no sense to me other than they're trying to be some kind of keyboard warrior.

fauxstradamus said:

---

Heineken-Ashi said:

---

fauxstradamus said:

---

Heineken-Ashi said:

---

Who here can explain what this stablecoin bill does? I think I have a decent grasp, but I'm not the most versed on stable coins.

---

In the current iteration it does not allowing for yield bearing stablecoins to holders. This is very likely a consequence of large bank lobbyists wanting to hold about $6Trillion in assets hostage. Think about checking accounts, savings accounts that pay <0.5% interest while the banks are making 4-5% in treasuries. This is also the reason Tether is such a monster profit machine right now and I'm sure they don't want to pass on yield to holders either but I don't know

What stablecoins will do is significantly remove friction of moving money and significantly decrease time for transactions to clear. We are talking 3 days in current system to maybe 3 seconds. Also without limits on amount of funds moved per day.

Eventually I think it won't matter about getting yield directly from USDT/USDC, bank of america stablecoin, whatever. Tokenized money market funds will expand and already exist. With speed and transparency of the money movement, funds can be automatically "swept" back and forth from tokenized money market to USDC for example. It's literally a $6T dollar unlock.

I believe also the stablecoins will be backed by US treasuries so it's also a way to maintain dollar dominance and keep demand for US treasuries

Just my 2 cents

---

Exactly what I am fearful of.

Banks lend their "reserves" to the FED. These can't be used for liquidity. They are merely an accounting trick. The FED gets reserves and then pays banks a higher rate that banks have to pay to the FEd if they borrow money. It's nonsense.

What this bill does, is allow banks to issue stablecoins pegged to something like treasuries (Which are not ****ing stable), using their reserve balance. They are essentially trying to monetize their reserves that they are getting paid interest on.

And what I'm fearful of, is that IF IF IF the stablecoin values drop due to a drop in treasuries, this is essentially the mechanism that just created bail ins. Sorry mr. checking account holder, your cash you want to pull out is in this Amegycoin. And if you pull it out now, you will get less than the cash you think you have. Please wait for the coin to recover its value before pull out. And maybe even.. they dont LET YOU pull out until the stablecoin recovers.

Someone tell me Im wrong please. I want to be.

---

You have a much deeper understanding on the insides of the tradfi system and I respect your knowledge.

What I can't understand from your fears is how a fractional reserve system that still relies on "unstable treasuries" doesn't present the same problem that you worry about with stablecoins.

I will add this as well. The GENIUS Act mandates that stablecoins, which are cryptocurrencies designed to maintain a stable value, be backed by a 1:1 reserve of high-quality liquid assets (HQLA), such as U.S. dollars, short-term Treasury securities, or central bank reserves. This means that for every stablecoin issued, the issuer must hold an equivalent amount of these specified assets as backing.

One of my concerns is transparency from stablecoin issuers. Will there ledgers be fully transparent on the blockchain? And yes Prog could these be a precursor to CBDC style invasion of privacy?

Maybe I'm wrong but this seems to be an argument between FDIC "insured" fractional banking vs non FDIC insured fully pegged "digital dollars"

---

If they are backed by central bank reserves.. yet are funded by monetizing bank reserves sitting at the FED, I just cant understand that circular logic. Sounds like taking on insane risk as a financial system. Like a last ditch effort to create liquidity from something that shouldn't be liquid, to prop up a system that is drying up on liquidity.

Here's the selloff but Trump brought in on himself.

Heineken-Ashi said:

---

fauxstradamus said:

---

Heineken-Ashi said:

---

fauxstradamus said:

---

Heineken-Ashi said:

---

Who here can explain what this stablecoin bill does? I think I have a decent grasp, but I'm not the most versed on stable coins.

---

In the current iteration it does not allowing for yield bearing stablecoins to holders. This is very likely a consequence of large bank lobbyists wanting to hold about $6Trillion in assets hostage. Think about checking accounts, savings accounts that pay <0.5% interest while the banks are making 4-5% in treasuries. This is also the reason Tether is such a monster profit machine right now and I'm sure they don't want to pass on yield to holders either but I don't know

What stablecoins will do is significantly remove friction of moving money and significantly decrease time for transactions to clear. We are talking 3 days in current system to maybe 3 seconds. Also without limits on amount of funds moved per day.

Eventually I think it won't matter about getting yield directly from USDT/USDC, bank of america stablecoin, whatever. Tokenized money market funds will expand and already exist. With speed and transparency of the money movement, funds can be automatically "swept" back and forth from tokenized money market to USDC for example. It's literally a $6T dollar unlock.

I believe also the stablecoins will be backed by US treasuries so it's also a way to maintain dollar dominance and keep demand for US treasuries

Just my 2 cents

---

Exactly what I am fearful of.

Banks lend their "reserves" to the FED. These can't be used for liquidity. They are merely an accounting trick. The FED gets reserves and then pays banks a higher rate that banks have to pay to the FEd if they borrow money. It's nonsense.

What this bill does, is allow banks to issue stablecoins pegged to something like treasuries (Which are not ****ing stable), using their reserve balance. They are essentially trying to monetize their reserves that they are getting paid interest on.

And what I'm fearful of, is that IF IF IF the stablecoin values drop due to a drop in treasuries, this is essentially the mechanism that just created bail ins. Sorry mr. checking account holder, your cash you want to pull out is in this Amegycoin. And if you pull it out now, you will get less than the cash you think you have. Please wait for the coin to recover its value before pull out. And maybe even.. they dont LET YOU pull out until the stablecoin recovers.

Someone tell me Im wrong please. I want to be.

---

You have a much deeper understanding on the insides of the tradfi system and I respect your knowledge.

What I can't understand from your fears is how a fractional reserve system that still relies on "unstable treasuries" doesn't present the same problem that you worry about with stablecoins.

I will add this as well. The GENIUS Act mandates that stablecoins, which are cryptocurrencies designed to maintain a stable value, be backed by a 1:1 reserve of high-quality liquid assets (HQLA), such as U.S. dollars, short-term Treasury securities, or central bank reserves. This means that for every stablecoin issued, the issuer must hold an equivalent amount of these specified assets as backing.

One of my concerns is transparency from stablecoin issuers. Will there ledgers be fully transparent on the blockchain? And yes Prog could these be a precursor to CBDC style invasion of privacy?

Maybe I'm wrong but this seems to be an argument between FDIC "insured" fractional banking vs non FDIC insured fully pegged "digital dollars"

---

If they are backed by central bank reserves.. yet are funded by monetizing bank reserves sitting at the FED, I just cant understand that circular logic. Sounds like taking on insane risk as a financial system. Like a last ditch effort to create liquidity from something that shouldn't be liquid, to prop up a system that is drying up on liquidity.

---

That's above my pay-grade to answer brother. I just feel like this train isn't stopping, for good OR bad. IMO all assets are going to be tokenized eventually and trade-able 24/7. Using stablecoins as the underlying payment rail is the first step.

I'm personally just hopping on the train to pump my bags. Maybe I regret that later, but most of my net worth will be in BTC in cold storage so I probably won't care.

MRB10 said:

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Seems to be more consistent than HA and 30k. Not quite OA territory though.

---

the best

Would depend how you have stable coins. This is the point is its permission-less. Meaning banks can't say to you no.

Where your fears may be founded is what JP Morgan is doing. They announced they will issue deposit coins. Which as far as I can tell means your dollars in a checking account are actually cryptocurrencies behind the scenes in complete control of ownership by JP.

CRCL continues it climb likely on the news the rates remain the same.

Ragoo said:

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MRB10 said:

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Seems to be more consistent than HA and 30k. Not quite OA territory though.

---

the best

---

Yukon Cornelius said:

---

Would depend how you have stable coins. This is the point is its permission-less. Meaning banks can't say to you no.

Where your fears may be founded is what JP Morgan is doing. They announced they will issue deposit coins. Which as far as I can tell means your dollars in a checking account are actually cryptocurrencies behind the scenes in complete control of ownership by JP.

---

Saw that, and you're probably right. Like I said, I dont know much about stablecoins.

Somebody put in some effort to post info on WWR this week on Reddit - Pennystocks.

Ya I think a lot remains to be seen on how it all plays out. I think long term the US government wants them to become buyers of US debt and for the dollar to be firmly cemented in the digital space globally.

ProgN said:

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Here's the selloff but Trump brought in on himself.

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can you elaborate?!?

Are stable coins a legit option for foreign reserves?

EnronAg said:

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ProgN said:

---

Here's the selloff but Trump brought in on himself.

---

can you elaborate?!?

---

Trump called Powell either stupid or dumb this morning and constantly calls him names which is very childish. It also closes any opening the fed might have to lower rates because then it'll look like the "independent" fed caved to the President. As I've said before, I'm glad I voted for Trump but with the good comes his dumbassery too, which was on full display this morning.

Yukon Cornelius said:

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CRCL continues it climb likely on the news the rates remain the same.

---

jeez, CRCL is insane...I wanna short it so bad, but premiums are absolutely jacked to buy...and don't know another way to responsibly short without buying puts...

It's been nuts. I closed my cc earlier at breakeven. Just sold another call for 210 that expires in July. At some point this has to chill. And ultimately if my option gets executed I'll gladly take the 110% win and sell a put with the cash to re-accumulate.

Long term over the course of this year I'll be accumulating both CRCL and JPmorgan.

Yukon Cornelius said:

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Would depend how you have stable coins. This is the point is its permission-less. Meaning banks can't say to you no.

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What do you mean by this? What defines 'permissionless' in this universe?
Tether is the world's most popular stablecoin and is not permissionless, and still only a few institutions allow transactions using the vehicle. (eta: and if you want to convert back to USD, you can only do so through tether's platform)