European asset manager Amundi believes that the US GENIUS Act could trigger a surge in dollar-backed stablecoins, potentially causing unintended consequences for the global payment system, and even threatening the long-term dominance of the greenback itself. “It could be genius, or it could be evil, said Vincent Mortier, Amundi’s chief investment officer, in a recent…
United States Treasury Secretary Scott Bessent said the US government will use stablecoins to ensure that the US dollar remains the world’s global reserve currency during the White House Crypto Summit on March 7. Bessent reiterated the Trump administration’s promise to end the war on crypto and committed to rolling back previous IRS guidance and…
Redbox’s financial situation continues to spiral out of its control. On Thursday, a Los Angeles court entered a $16.7 million judgment against the company in favor of NBCUniversal, after Redbox failed to pay a scheduled installment of a settlement the parties reached earlier in May. The missed payment bodes ill for the DVD kiosk company,…