{"id":850475,"date":"2025-05-23T09:11:52","date_gmt":"2025-05-23T14:11:52","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/23\/wall-streets-3-7-trillion-stablecoin-ambition-takes-shape-us-crypto-news\/"},"modified":"2025-05-23T09:11:52","modified_gmt":"2025-05-23T14:11:52","slug":"wall-streets-3-7-trillion-stablecoin-ambition-takes-shape-us-crypto-news","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/05\/23\/wall-streets-3-7-trillion-stablecoin-ambition-takes-shape-us-crypto-news\/","title":{"rendered":"Wall Street\u2019s $3.7 Trillion Stablecoin Ambition Takes Shape | US Crypto News"},"content":{"rendered":"
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Welcome to the US Crypto News Morning Briefing\u2014your essential rundown of the most important developments in crypto for the day ahead.<\/strong><\/p>\n

Grab a coffee as we explore the macro trends moving markets, from Bitcoin\u2019s emergence as a global benchmark asset to Wall Street\u2019s accelerating push into stablecoins. As bond market volatility<\/a> rattles traditional finance, capital is rotating fast\u2014and crypto is where it\u2019s landing. Here\u2019s everything you need to know to stay ahead today.<\/p>\n

Crypto News of the Day: <\/strong>Bitcoin Goes Mainstream: How Global Instability Is Turning BTC Into a Macro Benchmark<\/strong><\/h2>\n

Global bond markets are under renewed stress, with dismal auction results stirring fear across traditional risk assets. In Japan, the Bank of Japan\u2019s JGB auction was the worst since 1987, while in the US, the 20-year Treasury auction closed at 5.104%, sharply higher than the previous 4.810%. This turmoil is reigniting demand for safe havens\u2014both physical and digital.<\/p>\n

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\u201cGlobal bond markets are seeing poor auction results. Japan BOJ JGBs had the worst auction since 1987, while the US 20yr auction today closed 5.104% (vs) 4.810% previously. This has brought back fear into risk-assets, causing Gold to rally back to $3322 (up +$200 from last week\u2019s low). Today we\u2019re seeing the \u2018digital gold\u2019 bid come back for Bitcoin. This is causing Bitcoin dominance<\/a> to return as it continues to outperform altcoins (which are trading as pure risk-assets). There\u2019s still the potential for Bitcoin to hit astronomical prices if some world central banks (or any one major central bank) begins to buy Bitcoin<\/a> instead of regular gold as a diversification. Today we\u2019re seeing many private companies do this, which is lifting Bitcoin to new ATHs<\/a>.\u201d \u2013 Greg Magadini, Director of Derivatives, Amberdata<\/p>\n<\/blockquote>\n

That rotation is already playing out in real time. As global sovereign debt becomes less attractive, yield-seeking capital is flowing into alternatives\u2014Bitcoin is chief among them<\/a>.<\/p>\n

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\u201cLooks like US debt isn\u2019t too attractive right now given the global mess. Investors are hunting for yield, and Bitcoin\u2019s where they\u2019re parking capital.\u201d \u2013 Dave Sedacca, Director of Finance at Parity Technologies<\/p>\n<\/blockquote>\n

What\u2019s becoming clear is that Bitcoin is no longer a fringe asset\u2014it\u2019s entering the institutional mainstream.<\/p>\n

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\u201cBitcoin breaking through $110K<\/a> reflects the new reality: it\u2019s no longer a fringe asset\u2014it\u2019s a macro instrument. ETF inflows<\/a>, sovereign interest, and structurally limited supply are driving institutional demand at scale. For funds sitting on cash in a low-yield world, Bitcoin is starting to look less like a risk and more like a benchmark.\u201d \u2013 Mike Cahill, CEO of Douro Labs, a leading contributor to the Pyth Network<\/p>\n<\/blockquote>\n

And as institutional demand meets Bitcoin\u2019s hard-coded scarcity<\/a>, its price action is becoming a reflection of broader capital cycles.<\/p>\n

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\u201cWe\u2019re seeing what happens when structurally constrained supply meets reflexive institutional demand. This isn\u2019t just speculation\u2014it\u2019s systemic repricing. Bitcoin is now part of macro portfolios, and that means price action is being driven by the same capital rotation and liquidity cycles that move traditional markets.\u201d \u2013 Doug Colkitt, Initial Fogo Contributor<\/p>\n<\/blockquote>\n

Wall Street\u2019s Stablecoin<\/a> Push: Big Banks Prepare for a $3.7 Trillion Digital Asset Future<\/strong><\/h2>\n

Major US banks\u2014including JPMorgan, Bank of America, Citigroup, and Wells Fargo\u2014are in early discussions to jointly launch a stablecoin, aiming to reclaim ground in the digital finance space<\/a>.<\/p>\n

The effort is being coordinated through shared entities like Early Warning Services and hinges on upcoming legislation, especially the GENIUS Act, which could soon pass in the US Senate.<\/p>\n

With the stablecoin market projected to reach up to $3.7 trillion by 2030, banks are positioning themselves to compete with crypto-native and tech-driven payment platforms. Lawmakers, including Senator Cynthia Lummis, emphasize the need for regulatory clarity to maintain US leadership in financial innovation.<\/p>\n

\u201cI predict stablecoin growth to $2 trillion<\/a>, as well as the US. Treasury\u2019s note where this forms the basis of their stablecoin forecast, as the point of the stablecoin Act is that stablecoins will further legitimise the whole asset class, all boats rise,\u201d Standard Chartered Head of Digital Assets Research Geoff Kendrick said in an email.<\/p>\n

Chart of the Day<\/h2>\n
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United States 30-Year Bond Yield. Source: TradingView<\/a>.<\/figcaption><\/figure>\n

Byte-Sized Alpha<\/h2>\n

Here\u2019s a summary of more US crypto news to follow today:<\/p>\n