In this Bankless Weekly Rollup episode, Ryan and David discuss the GENIUS Act's passage in the Senate and Treasury Secretary's bullish stance on stablecoins, coining the term "Stablecoin Summer." They cover JP Morgan's entry into stablecoins with a token on the Base network and Coinbase's release of four new products. The conversation shifts to market trends, including the Circle price surge, Solana and Ethereum's performance against Bitcoin, and Trump's Truth Social filing for Bitcoin and Ethereum ETFs. They analyze the potential for altcoin ETFs, BlackRock's absence in that space, and the Fed's decision to hold interest rates steady, along with Trump's criticism of the Fed. The episode also explores the impact of the Israel-Iran conflict on safe-haven assets, BlackRock's view of Bitcoin as a risk-off asset, and Justin Sun's Tron going public via SPAC. They debate the ethical implications of crypto's increasing involvement in politics and the rise of crime in the crypto space, Zach XBT's concerns about the industry's soul, and the need for better regulation and transparency. Finally, they touch on the GENIUS stablecoin bill, its potential impact on Tether and traditional payment systems, Kraken's INK token launch, EigenLayer's EigenCloud, BlockWorks' Token Transparency Framework, and Coinbase's new product announcements, including the U.S. Army parade sponsorship controversy.
