1. 🏦Citigroup Considers Launching Its Own Stablecoin
Citigroup’s CEO Jane Fraser revealed the bank is exploring issuance of a Citi-branded stablecoin, aiming to enhance digital payments through tokenized deposits, reserve management, and custody services. Citigroup’s Q2 earnings beat expectations, driving the stock to its highest since 2008.
📈2. Bitcoin Recovers to ~$118K Amid ‘Crypto Week’ Setback
After three key crypto bills in Congress suffered a procedural defeat, Bitcoin tumbled to ~$116K, only to rebound to $118,260 following President Trump’s promise to push the GENIUS Act through the next day. Ether, XRP, and Solana all logged notable gains.
💵3. Stablecoin “ChatGPT Moment” Rising—but No Interest Yet
Industry commentators liken the current excitement around stablecoins to the early hype of ChatGPT. Despite widespread speculation, these tokens still lack interest-yielding mechanisms, limiting their appeal outside of crypto trading.
🏛️4. U.S. Congress Hits “Crypto Week” Roadblock
House lawmakers navigating “Crypto Week” stalled over procedural disagreements involving the CLARITY Act, GENIUS Act, and the Anti‑CBDC Surveillance State Act, delaying key decisions and provoking volatility in crypto-linked equities like Coinbase and Circle.
