We lost 4 years, but the U.S. is back in the stablecoin game, says Coinbase's Faryar Shirzad
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Forbes
an hour ago
- Forbes
Crypto Surges After Trump Sways Republicans To His Stablecoin Bills
Several cryptocurrencies and stocks backed by the industry jumped Wednesday, as regulatory optimism stirred among investors after President Donald Trump said most Republican detractors would advance the GENIUS Act and other pro-crypto legislation in the House. Thirteen Republicans voted against a motion to advance three pro-crypto bills, 12 of whom Trump said ... More would now vote differently. Copyright 2025 The Associated Press. All rights reserved The price of bitcoin returned above $119,000 Wednesday morning after increasing by 1.5%, while the values of other cryptocurrencies, including Ether (5.9%), XRP (2.4%), Solana (4.8%) and Binance's BNB (1.9%) rose over the last 24 hours. Trump, writing in a Truth Social post late Tuesday, said he had a 'short discussion' with 11 of 12 Republicans who voted Tuesday against advancing the GENIUS Act, the Digital Asset Market Clarity Act and the Anti-CBDC Surveillance State Act in the House, saying they 'agreed' to vote in favor of the bills Wednesday. Shares of stablecoin issuer Circle rose 4% in premarket trading, returning most losses from trading on Tuesday, adding to increases for Coinbase (1.1%), BitMine (17%), SharpLink (15%) and Bit Digital (5%). Whether the three bills advance in the House. Trump noted Speaker Mike Johnson, R-La., joined his meeting with the House Republicans and 'looks forward to taking the vote as early as possible.' Key Background Trump has pushed the pro-crypto legislation in recent weeks, writing on Truth Social Tuesday that 'ALL REPUBLICANS' should 'VOTE YES.' House Republicans named the week of July 14 'Crypto Week' as they voted on bills they claimed would make the U.S. the 'crypto capital of the world.' The GENIUS Act would establish the first set of federal regulations for stablecoin issuers, while the Digital Asset Market Clarity Act establishes which agency regulates certain digital assets, and the Anti-CBDC Surveillance State Act prohibits the Federal Reserve from issuing a central bank digital currency. Rep. Marjorie Taylor Greene, R-Ga., said she voted against the procedural motion Tuesday because Johnson did not allow House members to submit amendments. She argued the GENIUS Act did not include a ban on a central bank digital currency, despite the Anti-CBDC Surveillance State Act explicitly doing so. Democrats previously expressed concerns over the bills and Trump's dealings with the cryptocurrency industry, including his ties to World Liberty Financial, which issued the stablecoin USD1. Several House Democrats called for the Treasury Department to release documents related to an investigation into WLF and Trump-branded meme coins, alleging possible bribery, corruption and conflicts of interest. Sen. Elizabeth Warren, D-Mass., argued the GENIUS Act's original text would 'supercharge Donald Trump's corruption.' Further Reading Forbes Trump Says Most House GOP Holdouts Have Agreed To Back His Crypto Bills—What To Know By Sara Dorn
Fast Company
an hour ago
- Fast Company
GENIUS Act update: What's happening with the stablecoin crypto vote?
It looks like the GENIUS Act might advance through the U.S. House of Representatives after all, following some arm-twisting from President Donald Trump. On Tuesday, the cryptocurrency legislation looked dead in the water, with 223 lawmakers voting against moving forward with the bill and 196 for it. Thirteen Republicans joined Democrats in the nays. But it seems things are unlikely to stay that way following a White House meeting later in the day. 'I am in the Oval Office with 11 of the 12 Congressmen/women necessary to pass the GENIUS Act and, after a short discussion, they have all agreed to vote tomorrow morning in favor of the Rule,' Trump wrote in a post on Truth Social. House Speaker Mike Johnson phoned into the meeting and apparently plans to introduce another vote swiftly. Highly watched 'Crypto Week' If passed, the GENIUS Act would regulate stablecoins, or those tied to stable assets like the dollar. It's one of three bills blocked in Tuesday's vote and is appearing during the House's ' Crypto Week.' The term was coined by the U.S. House of Representatives' leadership to highlight the proposed crypto-friendly legislation. There's also the CLARITY Act, which would allow the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission to regulate cryptocurrencies, thus continuing to legitimize the industry, while the Anti-CBDC Surveillance State Act would block the Federal Reserve from 'issuing a central bank digital currency (i.e., a digital dollar),' the bill states. The trio's uncertainty has led to some turmoil in the stock market for crypto-adjacent companies. For example, the relatively newly public company Circle Internet Group stock (NYSE: CRCL), which issues stablecoins, lost about 5% of its value following Tuesday's vote. However, Wednesday morning saw Circle's stock rise again, increasing by nearly 4% in premarket trading as of this writing.
Business Insider
an hour ago
- Business Insider
Take3 Opens Dubai Office to Fuel Web3 Growth Globally
Dubai, UAE, July 16th, 2025, Chainwire Leading Web3 Marketing Agency Enters Dubai World Trade Centre Expanding Global Presence Take3, the global Web3 marketing agency founded by Australian entrepreneur Renee Francis, today announced the launch of its Dubai World Trade Centre (DWTC) office, a monumental achievement that marks its commitment to enabling blockchain, crypto, and AI founders worldwide. Founded in 2022, during the peak of the longest bear market in history, Take3 rapidly became a marketing partner of choice for many of the most recognisable names in Web3. With a clientele across Asia Pacific, Europe, the UK, UAE, and the Americas, the agency's Dubai expansion presents a strategic location in one of the fastest-growing and most innovative Web3 ecosystems. Renee Francis, founder of Take3 says: 'Dubai is leading the charge in Web3 innovation, regulation, and investment. Being here enables us to deliver in-region support to clients, build closer relationships with in-region partners, and deliver faster, smarter execution in an industry that operates on a 24/7 clock." Take3's end-to-end services—varying from SEO and SEO for large language models (LLMs) to PR, content creation and community development—are tailored to the decentralised, high-velocity nature of Web3. With a team already operating across Australia, the UK, and Canada - this expansion also presents exciting new challenges for Take3's expanding team to work with some of the world's most innovative blockchain, crypto, and AI initiatives with around-the-clock support. Take3 has already partnered with top global web3 players including Coinbase, Binance Australia, Stand With Crypto Australia, Archax, Redbelly Network, Digital Economy Council of Australia, Zeebu, GolfN, Xmaquina, and Playa3ull Games. It has also sponsored and attended top-level industry conferences including Zebu Live, European Blockchain Conference, Blockstart, and CryptoMondays London, sharing insights on Web3 marketing trends and best practices. What the Dubai expansion delivers: On-the-ground support across Dubai, the UAE, and Europe 24/7 client support with expanded time zone coverage Stronger connections with media, investors, and the regional Web3 ecosystem Strategic access to a regulatory environment built for crypto and emerging tech Renee concludes: "With Sydney and London offices, we now add a Dubai office to our global footprint. We're not opening an office, we're opening up possibilities for our clients. If you need your Web3 business to be taken seriously, go to where Web3 is taken seriously." About Take3 Take3 is a global Web3 marketing agency with offices in Sydney, Dubai, and London. We partner with the world's most ambitious blockchain, crypto, NFT, and metaverse projects to deliver marketing strategies that cut through the noise. Combining the performance-driven mindset of Web2 with the creativity and innovation of Web3, we help brands launch, scale, and thrive in the new digital frontier. From go-to-market strategy and campaign execution to community building, content, SEO and PR, Take3 offers end-to-end marketing solutions tailored for the decentralised world. Our team of Web3 natives, creatives, and growth marketers are trusted by some of the boldest names in the space to drive measurable results and lasting impact.
