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- WhiteboardCrypto Newsletter - June 21
WhiteboardCrypto Newsletter - June 21
Welcome back to this week's edition of our WhiteboardCrypto Newsletter!
U.S. Senate Passes Landmark Stablecoin Bill
The Senate approved the GENIUS Act, the first major federal crypto legislation targeting stablecoins. The bipartisan bill establishes a regulatory framework requiring stablecoins to be backed by U.S. dollars or Treasury securities and mandates monthly reserve disclosures. It now heads to the House.
Learn more here.
Bitdeer attempts to raise $330M for bitcoin mining operations
Singapore-based BTC miner Bitdeer is offering $330M in convertible notes to fund U.S. data centers and next-gen mining rigs. The company, whose stock is down 50.68% year-to-date, is doubling down on expansion.
Learn more here.
Peter Schiff plans gold-backed token?
Longtime crypto critic Peter Schiff says he finally “gets Bitcoin” and plans to launch a gold-backed stablecoin, arguing tokenized gold makes more sense than dollar-pegged stablecoins. In a few years, maybe he’ll consider a BTC-backed stablecoin?
Learn more here.
Trump’s family cuts stake in Tron-backed stablecoin
A Trump-affiliated company quietly sold off some of its stake in World Liberty Financial, a crypto firm issuing the USD1 token. The partial divestment follows criticism over potential conflicts of interest, as Trump’s White House could soon oversee rules directly affecting this firm.
Learn more here.
JPMorgan’s deposit token test goes live on Coinbase’s blockchain
JPMorgan has launched JPMD, a tokenized deposit test using Base, Coinbase’s Layer 2 network. It targets institutional clients and aims to reduce the waiting time for settlement while maintaining compliance. It’s a first-of-its-kind move by a global bank on a public blockchain.
Learn more here.
Thanks for reading and I hope you learned something!
- Theodore