The American Bankers Association amplified warnings the Senate’s Clarity Act could push deposit flight into stablecoins unless lawmakers tighten yield limits. www.coindesk.com
Yield
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Finance
Strategy Yield ETN Gives UK Investors Exposure to Bitcoin Giant’s STRC Shares
by shayaanby shayaanIn brief 21shares launched the Strategy Yield ETN (STRC) on the London Stock Exchange, providing U.K. investors access to Strategy’s preferred shares. …
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Regulation
Brian Armstrong tells the Senate to “mark it up” after CLARITY Act stablecoin yield deal lands
by shayaanby shayaanCoinbase CEO Brian Armstrong posted a three-word response on X on May 1 after Senators Thom Tillis and Angela Alsobrooks released the …
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DeFi platforms have opposed the plans to ban stablecoin yield via third-party apps. In a comment to the OCC (Office of the …
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DeFi
Neobank Veera Partners With Yield.xyz to Broaden Retail Access to DeFi Yield Markets
by shayaanby shayaanIn a groundbreaking move to provide its retail customers with seamless access to decentralized financial opportunities, Veera, a global on-chain neobank, today …
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Regulation
Coinbase deal unlocks Senate crypto push as stablecoin yield standoff breaks
by shayaanby shayaanA breakthrough agreement involving Coinbase Global Inc. has revived momentum for long-delayed US crypto legislation. This comes after lawmakers reached a compromise …
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Markets
Crypto industry backs CLARITY Act yield compromise, pushes Senate Banking for markup
by shayaanby shayaanThe agreement necessitates firms restructure reward programs from a “buy and hold” to a “buy and use” model; however, CCI raised concerns …
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Markets
Bitcoin above $78,000 as Senate clears Clarity Act yield hurdle, S&P 500 sets new record
by shayaanby shayaanBitcoin recovered from a midweek dip to $75,500 to climb back above $78,000 by Saturday morning in Asia, with the Senate’s stablecoin …
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Markets
Clarity Act text lets crypto firms offer stablecoin rewards while shielding bank yield
by shayaanby shayaanThe text released Friday blocks crypto firms from offering stablecoin yield offerings that look like bank deposits, but “bona fide” transactions are …
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Markets
Ouch. The U.S. 30-year Treasury yield just hit 5% and bitcoin may pay the price
by shayaanby shayaanHawkish dissent within the Federal Reserve, elevated oil prices and rising long-term inflation expectations are pushing bond yields higher. www.coindesk.com