Features News TheBitTimes.com

Stablecoins have seen substantial growth since President Donald Trump signed the “GENIUS Act,” a stablecoin regulatory bill, into law on June 17. Coins tracked by DefiLlama have seen their collective market capitalization increase from approximately $251 billion to approximately $268 billion. This growth has had both winners and losers, with some stablecoins that have deeper links to Trump’s crypto empire seeing a disproportionate share of the overall growth. Read more: ANALYSIS: Mapping Donald Trump’s growing crypto empire Among the top coins, the one that’s seen the largest relative increase in its market is the stablecoin issued by Falcon Finance. This coin was founded by Andrei Grachev, who has previously pleaded guilty to fraud in Russia . World Liberty Financial (WLF), one of the crypto firms that the president profits from, invested in Falcon Finance. The coin that’s seen the second largest relative increase is Ethe...

Tether chief executive Paolo Ardoino reportedly says that the stablecoin issuer will stay focused on foreign markets as a stablecoin regulatory bill works through Congress. According to a new report by Bloomberg, Ardoino says that even though the Genius Act, an industry-backed bill to regulate dollar-pegged crypto assets in the US, is making its way through Congress, Tether will remain focused overseas. “It is important for us to see how the Genius Act is distinguishing between foreign issuers and domestic issuers. For us, the main interest will remain outside of the US. We are looking at the Genius Act in a way that will allow us to be compliant. We can be compliant while still having a strong focus on foreign markets.” Tether, which is based in El Salvador, is the largest stablecoin issuer in the world but stopped serving customers in the US in 2018. However, the report says that if Tether were to focus on the US, it may run into issues such as back...