July 18 GENIUS Rules Bar Yield, DeFi Pays Up To 8%
The GENIUS Act’s final rules land July 18, banning stablecoin yield and pricing out $200M issuers. DeFi on Ethereum and Solana still pays up to 8%.
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Invesco Files On-Chain Reserve Fund For $300B Stablecoin Market
Invesco filed an on-chain stablecoin reserve fund via Superstate, targeting the $300B market. A KYC Allowlist locks retail out, even as it backs your USDC.
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apxUSD Depeg Deepens To $0.80, DeFi Loans At Risk
apxUSD has slid to $0.80, down 20%, as its STRC and Strive collateral cracks. Here is what the depeg means for any wallet using it as DeFi collateral.
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MIM Crashes To $0.50, Abracadabra Hikes Cauldron Rates
MIM crashed near $0.50, about half its dollar peg, before Abracadabra hiked Cauldron rates to force repayment. Here is the exit math for MIM holders.
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£20K Cap Gone: Bank Of England Sets £40B Stablecoin Ceiling
The Bank of England scrapped its £20,000 stablecoin holding cap for a £40B per-coin limit. USDC and USDT stay outside the rules and still pay no yield.
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Venus Adds Tesla, Nvidia Stock Collateral, Borrowing At 0
Venus added Tesla, Nvidia and SpaceX stock as collateral on BNB Chain at 60% factors, but set borrow caps to 0. Here is what it means for a DeFi wallet.
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msUSD Depegs 71% As Accountable Ends Proof Of Reserves
Main Street USD crashed 71% to $0.29 after Accountable cut its proof-of-reserves feed. The msY market on Morpho lost its anchor too.
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$121M State Street Fund Backs Stablecoin Reserves Under GENIUS Act
State Street launched its $121M SSCXX fund to back stablecoin reserves under the GENIUS Act. Here is why holders see none of the 3.51% yield.
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KRWQ Adopts Chainlink Proof Of Reserves For Won Stablecoin
KRWQ is the first Korean won stablecoin to add Chainlink Proof of Reserve. Here is how a DeFi wallet can verify the backing before holding it.
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$5.9B USDe Pays 4% Yield, Skirts GENIUS Act Ban
Ethena’s USDe holds $5.9B and pays about 4% staked yield from a basis trade, sidestepping the GENIUS Act ban that stopped USDC issuers cold.
