🚨 GENIUS ACT update
Sen. Thune just filed cloture on substitute version of stablecoin bill (version w bipartisan amendments that led to the 69 vote cloture success several weeks ago)
we now expect final senate votes to happen this wednesday, possibly bleeding to thursday

Leader Thune filed cloture on Hagerty substitute amendment #2307 to Cal. #66, S.1582, GENIUS Act.

Senate Cloakroom

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U.S. inflation data for May showed more moderate-than-expected signs, bringing positive signals to risk assets. Specifically, the year-on-year Consumer Price Index (CPI) without seasonal adjustment was 2.4%, lower than the market's general expectation of 2.5%; the month-on-month rate was also only 0.1%, similarly lower than the expected 0.2%.

Core inflation data (excluding volatile food and energy prices) also showed a similar slowing trend: the year-on-year rate was 2.8%, lower than the expected 2.9%; while the seasonally adjusted core CPI month-on-month rate was only 0.1%, significantly lower than the market's expectation of 0.3%.

After the report was released, ...

The positive US CPI cannot hide the whale' shipments? Bitcoin fell back under pressure after rising

Currently, both on-chain and exchange liquidity are terrifyingly low...... If we compare the peak values of the previous two market cycles, we can see a huge difference. During the peak in March 2024, 150,000 BTC were exchanged daily on-chain (7d sma), and during the peak in November 2024, 160,000 BTC were exchanged daily, while now only 85,000 are exchanged daily.

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(Figure 1) Even more remarkably, on April 28th when BTC rebounded to $95,000, it was the day with the best on-chain liquidity in this market cycle. And $95,000 happens to be near the average cost line for short-term holders, which should have many...

Viewpoint: Whether on-chain or on exchanges, liquidity is terribly low, and the risks are getting higher and higher?

Plasma is a blockchain that only supports stablecoins, redefining payment infrastructure with zero transaction fees, Bitcoin-level security, and a vision oriented towards mainstream finance. Kairos Research is an investor in Plasma. The information provided by Kairos Research, including but not limited to research, analysis, data, or other content, is for reference only and does not constitute investment advice, financial advice, trading advice, or any other form of advice. Kairos Research does not recommend buying, selling, or holding any...

Plasma, Tether's Trillion-Dollar Stablecoin Ambition

given that the ANS is the result of the negotiations that led to the prior version getting 69 votes for cloture, we are confident this will get cloture and then pass the senate.
later the house will need to introduce a companion version, pass it, and the two be reconciled.

all told, we still think the congress is on pace to deliver a bill to pres. trump's desk before august recess, though timing could be close and get stretched.

possible final yea/nay senate vote on GENIUS happens monday or tuesday next week