🟪 Bullish or not?

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The stablecoin vibes are strong in the US right now. 

On the one hand, Congress appears poised to finally — even miraculously — move ahead on legislation that, if passed, will create a regulatory framework for US stablecoin issuance. 

As my colleagues reported this week, stablecoin legislation is set to be introduced in the House. In a sign that passage might be simpler, the measure is said by its authors to be very similar to drafts put forward in the Senate.

Given how disagreements between the two chambers are often driven by these kinds of textual differences, that’s encouraging to say the least.

Plus, the industry’s post-election political influence is likely to smooth the way to a presidential signature. Simply put, 2025 might be the year we (finally) see comprehensive rules actually clear the halls of Congress. Stay tuned.

If you were at DAS in New York last week, you might’ve picked up on the sentiment — really, the momentum — around stablecoins among institutional representatives. 

As Forward Guidance host Felix Jauvin wrote Thursday, "stablecoins are taking over."

Elsewhere, Dominic Rizzo, tech fund portfolio manager for T. Rowe Price, reckoned this week that stablecoins are "the most obvious use case for crypto" with "big, big potential."

In summary, stablecoin bullishness is in the air, coupled with growing market capitalizations among the market’s biggest players. 

One wonders where things will sit a year from now.

— Michael McSweeney

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Today Kinto lists $K pioneering fair tokenomics in DeFi.

It marks a major milestone in Kinto’s growth, following a successful ICO that raised $3.84 million from over 2,700 participants paired with a $20m deployment by Brevan Howard Digital in their mining program.

Kinto is the modular exchange enabling users to access the best opportunities in DeFi while keeping full control of their funds — join today to earn $K via their mining program.

It’s tough out there for crypto gaming founders — hear from them directly.

Missed out on Blockworks’ DAS? Get the top conference takeaways here.

Hyperliquid ran into trouble this week after stepping on some JELLY.

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