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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Kraken Opens 1:1 USDC Bridge To Canton With USDCx
Kraken now supports USDCx on Canton Network, a stablecoin backed 1:1 by USDC in Circle’s xReserve. The catch: it is institutional, not a retail DeFi play.
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Coinbase Backs ProShares GENIUS ETF For Stablecoin Reserves
Coinbase took a stake in the ProShares GENIUS ETF (IQMM), the fund holding short-term Treasuries that back stablecoins like USDC. Here is the DeFi angle.
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$305M Coinbase USDC Yield At Risk As OCC Closes GENIUS Loophole
Coinbase reported $305M Q1 2026 stablecoin revenue from a 3.5% USDC reward the GENIUS Act did not catch. The OCC’s rebuttable presumption rule now targets it.
