Latest news with #MarionLaboure
Mint
a day ago
- Business
- Mint
Bitcoin rice edges up, Altcoins gain. What next for crypto after the Genius Act.
Bitcoin was rising slightly early on Monday but other cryptocurrencies were recording stronger gains. Crypto-related legislation looks to be fueling a rotation into other digital currencies which could be more immediate beneficiaries of the new laws. Bitcoin's price was up 1% the past 24 hours at around $119,194. The world's largest cryptocurrency hit a record high of $123,166 last week amid excitement over 'Crypto Week" as multiple pieces of crypto-related legislation made their way through Congress. Several large altcoins were rising. Ether gained 3.5%, XRP climbed 3.1%. Solana was rising 6.3%, while memecoin Dogecoin surged 8.7%. President Donald Trump signed the Genius Act into law on Friday, establishing a framework for federal regulation of so-called stablecoins, whose prices are pegged to a real currency like the dollar. The bill requires issuers to maintain one to one reserves in U.S. dollars or Treasuries and bans interest-bearing stablecoins. 'The GENIUS Act's ban on yield-bearing stablecoins is driving institutional interest into Ethereum, which largely provides the network for stablecoins," wrote Deutsche Bank analyst Marion Laboure in a research note on Monday. However, arguably the more important piece of legislation is the Clarity Act, which addresses the question of whether cryptos are commodities or securities, and what regulator would oversee them. While it was approved by the House on Thursday, it still needs to pass the Senate. Whether Bitcoin can achieve further gains is likely to depend on the apparent progress of the Clarity Act through the Senate before the August recess. However, it could also receive a boost Tuesday, when a president's working group makes policy recommendations that could include a proposal for a strategic reserve of Bitcoin.
CNBC
15-07-2025
- Business
- CNBC
Bitcoin entering a less volatile, more sustainable stage, argues Deutsche Bank
Bitcoin could be in for an era with less choppiness, according to Deutsche Bank. Bitcoin hit a new all-time high above $123,000 on Monday as U.S. lawmakers gathered for "Crypto Week," an event supporters hope will lead to supportive legislation that can bolster interest from big investors. The $123,000 level reflects an approximately 75% jump from levels seen in mid November, per Deutsche Bank analyst Marion Laboure. As the cryptocurrency has rallied, Laboure pointed out that volatility has also fallen. That can signal that bitcoin may be less tied to broader market stability — or the lack of it — going forward, she said. "While excitement over the upcoming legislations has spurred Bitcoin's sharp appreciation, it is notable that Bitcoin's rise has also been accompanied by a historic decline in volatility levels," Laboure wrote to clients in a Tuesday note. "This combination suggests we are potentially starting to witness a gradual decoupling between Bitcoin's spot prices and volatility," she added. This comes "as increasing market adoption, regulatory clarity and institutional participation continue to [stabilize] Bitcoin's performance over the longer-term." 1Y mountain Bitcoin/USD Metrics, 1-year To be sure, bitcoin retreated by more than 2% in midday trading Tuesday. Despite the pullback to around $117,000, Laboure said the popular digital currency is undergoing a broader advance that's tied to what she described as a convergence of both macro and micro variables. On top of a positive regulatory outlook, she noted increased adoption from institutional investors and longer-term holding patterns. At the same time, she said uncertainty with geopolitics and tariffs, de-dollarization trends and technology advancements also play a role. "Volatility remains inherent," Laboure wrote. But, "these conditions suggest Bitcoin's integration into portfolios is maturing, and potentially signals a more sustainable trend beyond previous instances of short-term market speculation."
Yahoo
15-07-2025
- Business
- Yahoo
Bitcoin's price rise is fueled by billions in traditional money coming from Wall Street
Bitcoin has surged over 25% year-to-date, reaching record highs above $122,000, fueled by massive inflows from Wall Street, including $85 billion from new Bitcoin ETFs over the last year or so. The influx of traditional capital is also reducing Bitcoin's volatility. The declining value of the U.S. dollar is helping too. Across the world, since the lows of April, equity markets have risen robustly, delivering a historic bull rally. The broad market S&P 500 is up 6.58% year-to-date. But that looks feeble next to Bitcoin, which made new record highs yesterday, cresting over $122,000 per coin. Bitcoin is down over 2% this morning as speculators lock in their gains, but the cryptocurrency is still up over 25% year to date. Interestingly, it hit that milestone with lower volatility than its historic record, according to research by Deutsche Bank. There are a bunch of reasons for this, of course, including the Trump Administration's regulatory support for crypto. But the fundamental cause of Bitcoin's rise is old-fashioned fiat cash coming in from the traditional finance sector, DB's Marion Laboure and Camilla Siazon wrote in a note seen by Fortune. The sums are staggering. There were $35 billion in inflows from new Bitcoin ETFs offered by Wall Street funds in 2024. There were $50 billion more inflows this year so far. 'Last Thursday alone saw a single-day inflow of $1.17bn into US Bitcoin ETFs,' the DB analysts say. BlackRock's iShares Bitcoin Trust alone holds $80 billion—it has only been in existence for 18 months. It took SPDR Gold Shares ETF 15 years to hit that level. The steady influx of traditional money has reduced Bitcoin's volatility—an asset that has on multiple occasions lost the majority of its value. 'This sharp increase via ETF inflows has helped with Bitcoin's liquidity and kept the crypto trading in a relatively tighter range compared to previous years,' Laboure and Siazon say. There's one other factor fuelling Bitcoin: The declining U.S. dollar. The dollar has lost nearly 10% of its value against foreign currencies this year on the DXY index. Investors are looking to store cash elsewhere. 'With the US signing their tax bill into law this month, effectively locking in deficits of 6.5% -7% of GDP for the next few years, we have started witnessing a de-dollarisation trend (the dollar index is down almost -10% YTD) pushing investors toward alternative assets like gold and Bitcoin,' the note says. Here's a snapshot of the action prior to the opening bell in New York: A Consumer Price Index update is due at 8.30 a.m. ET. The current rate is 2.4%, analysts expect a 0.3% increase to 2.7%. S&P 500 futures rose 0.31% premarket and the underlying index rose 0.65% yesterday. Hong Kong's Hang Seng was up 1.6% this morning. Japan's Nikkei 225 was up 0.55%. Stoxx Europe 600 added 0.3% in early trading. The UK's FTSE 100 was flat in early trading but poised to break through the 9,000 level for the first time. Bitcoin sank 2.56% to $116K. This story was originally featured on
Coin Geek
19-05-2025
- Business
- Coin Geek
Stablecoins to go mainstream on Trump support: report
Getting your Trinity Audio player ready... Stablecoins will record mainstream adoption this year following positive regulations by the Trump administration, a new report by Deutsche Bank states. In its report, the German investment banking giant says stablecoins are evolving past speculative 'crypto' trading and providing value in payments and remittances globally. Stablecoins have recorded a parabolic rise in the past five years, shooting up from $20 billion in market cap in 2020 to $245 billion today. Last year, they facilitated $28 trillion in transfer value, according to Deutsche Bank. A separate report by 'crypto' asset manager Bitwise revealed that last year, stablecoins processed a higher volume than Visa (NASDAQ: V) for the first time ever. For context, Visa processed 900% more than all stablecoins combined in 2020. 'More than just financial tools, stablecoins are fast becoming strategic assets,' stated the report, co-authored by analysts Marion Laboure and Camilla Siazon. Stablecoins' growth will be anchored by enabling regulations, especially in the United States, Deutsche Bank added. American legislators have advanced two separate bills seeking to bring order to the sector. The first was the STABLE Act, which was introduced in the House of Representatives in March and is set to face a vote later this year. The second bill, known as the GENIUS Act, was before the Senate, and while it initially had majority backing, Democrats recently changed their tune and voted against it, much to the chagrin of Treasury Secretary Scott Bessent. Despite the stumbles in stablecoin legislation, Deutsche Bank believes that the U.S. will implement enabling regulation this year, 'cementing stablecoin legitimacy' and 'enabling mainstream use cases and deeper financial integration.' While stablecoins are expanding into other payment use cases, speculative trading remains their primary market. The bank says they power nearly 70% of 'crypto' trading, 'offering unmatched speed, 24/7 access, low-cost programmable payments.' The Deutsche Bank report mirrors Citi's ambitious predictions in a recent paper, where it claimed stablecoins could hit $3.7 trillion by 2030, overtaking the current combined digital asset market cap, which stands at $3.3 trillion. Stablecoins are becoming increasingly vital players in the U.S. government securities sector, and recent reports have reflected this growth. According to Deutsche Bank, the high investment by the issuers in U.S. Treasuries has made them 'strategic assets' for the country. 'With 83% pegged to the U.S. dollar and Tether ranking amongst the largest holders of U.S. Treasuries, they're reinforcing dollar dominance in a fragmenting world,' the report stated. The rapid growth in the demand for stablecoins is attracting new players from within 'crypto' and beyond, all seeking to eat into Tether's USDT dominance. Earlier this month, fintech giant Stripe announced that it was opening stablecoin accounts for clients in over 100 countries. Users can send, receive, and hold USD stablecoins 'similar to how a traditional fiat bank account works.' Visa has also been aligning its services to support stablecoins. Two weeks ago, the payments giant invested in London-based stablecoin startup BVNK in its $50 million fundraising round. The startup claims to have processed $12 billion in stablecoins last year. US Pacific territory marches on with stablecoin bill While the U.S. stalls on stablecoin regulation, one of its territories in the western Pacific Ocean is edging closer to legislation that would allow it to issue a state-backed stablecoin. The Senate in the Northern Mariana Islands recently voted against a veto by the state's governor, which had halted the stablecoins bill. Gov. Arnold Palacios vetoed the bill in April, a month after it had received unanimous support from legislators. He noted that the island lacks the capacity to oversee stablecoins independently. The Senate has now voted 7-1 against the veto, reviving the bill, which now heads to the House, where a two-thirds majority will be enough to pass it into law. The Northern Mariana Islands are a group of islands in the western Pacific Ocean that are a self-governing territory of the U.S. It's home to 47,000 people, most of whom live on the largest island: Saipan. The bill seeks to allow the treasurer of Tinian, one of the smaller islands with a population of 2,000, to issue a state-backed stablecoin. Known as the Mariana USD (MUSD), the token would be backed by U.S. Treasuries and cash, held in reserve by the Tinian treasury. Proponents of the bill, which also allows Tinian to license Internet casinos, say it would revive the island's fortunes, which have yet to bounce back to pre-pandemic levels. However, critics argue that the stablecoin would give the local government greater insight into the gambling entities as all transactions would be recorded on an immutable ledger. Watch | Spotlight On: Centi Franc—the truly stable stablecoin title="YouTube video player" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen="">
Yahoo
15-05-2025
- Business
- Yahoo
It looks like stablecoins are about to go mainstream
Stablecoins are nearing mainstream adoption as the US advances regulatory legislation. Stablecoins are digital currencies pegged to more traditional assets like the US dollar or gold. The market cap of stablecoins rose from $20 billion in 2020 to $246 billion in May 2025, Deutsche Bank said. Stablecoins aren't far from becoming mainstream, per Deutsche Bank. Marion Laboure, managing director of thematic research at the German multinational investment bank, and analyst Camilla Siazon wrote in a presentation that the coins are likely to start being more widely used this year as the US pushes forward with legislation to regulate the crypto market. Stablecoins are a type of decentralized digital currency that can be bought and sold on a blockchain, similar to cryptocurrencies like bitcoin and ether, and meme coins, such as $Trump and Dogecoin. The most prominent stablecoin is Tether, with an overall market capitalization of around $150 billion, per CoinMarketCap, but dozens of others also exist. Deutsche Bank said the sector has a market capitalization of $246 billion. The difference between stablecoins and regular cryptocurrencies is that stablecoins are pegged to other assets, often commonly used and relatively secure ones, including safe havens like the US dollar or gold. One stablecoin might be equal to one dollar, with the coin's value rising and falling alongside the dollar. Both the House bill, the Stablecoin Transparency and Accountability for a Better Ledger Economy (STABLE) Act, and the Senate bill, the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, aim to create a regulatory framework for dollar-denominated stablecoins. Crypto legislation has faced some backlash. Senate Democrats have rallied against the GENIUS Act over concerns about President Donald Trump and his family's links to the industry. Both Trump and his wife Melania have cryptocurrencies bearing their names, which launched soon after he became president. The market capitalization of stablecoins has soared from $20 billion in 2020 to its current level, a more than 1200% surge. The coins also saw $28 trillion in transfer volume — the value of coins traded — last year, surpassing the levels of transfers made using major credit and debit card providers like Visa and Mastercard. "They now power over two-thirds of crypto-trading," the analysts said. The analysts wrote that 83% of fiat currency-backed stablecoins are backed by the dollar. Over $120 billion in dollar reserves are held in stablecoins. Deutsche Bank said $99 billion in US Treasury bills are held in Tether, making it one of the top stores of US government debt worldwide. Deutsche Bank's analysts predict that mainstream adoption of stablecoins will lead to overall increased demand for US Treasurys. "They are now integral to digital dollar infrastructure, transforming FX, liquidity, capital flows, and payment innovation," Laboure and Siazon said. "US regulation will bring clarity, enabling mainstream use cases and deeper financial integration." Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
