1. π¦ JPMorgan Considers Loans Backed by Crypto Collateral
JPMorgan Chase is exploring offering loans backed by customersβ Bitcoin and Ethereum holdings as soon as next yearβmarking a major shift from its long-time skepticism under CEO Jamie Dimon, who said the bank wonβt custody crypto but will support stablecoin involvementΒ .
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2. π Circle Stock Reverses Gains After Analyst Downgrade
Circle (CRCL) reversed a recent rally, falling ~22% from its early-July peak after Compass Point downgraded the stock, reducing its price target from $205 to $130. The dip comes amid rising competition from banks and fintechs entering the stablecoin spaceΒ .
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3. βοΈ GENIUS Act Enables New Era for U.S. Stablecoins
The GENIUS Act, now law, mandates that U.S. stablecoins be fully backed by reserve assets, require monthly audits, and exempts them from being classified as securities. This breakthrough opens the door for banks and fintechs to issue compliant digital moneyΒ .
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4. πΌ Bitcoin & Altcoins Pop Following GENIUS Act Enactment
After President Trump signed the GENIUS Act, crypto-linked stocks ralliedβEther rose 3.5%, Solana 6.3%, XRP 3.1%, and Dogecoin surged 8.7%. Bitcoin edged up to ~$119K as altcoins led the chargeΒ .
