Why ethereum is the 'largest beneficiary' of the GENIUS Act
Andrew Keys, co-founder and chairman of The Ether Machine, explains how ethereum supports most stablecoins and tokenized assets through smart contracts.
To watch more expert insights and analysis on the latest market action, check out more Market Catalysts here.
I'm curious your take on the underlying prices also because um you know, as much as we have seen Bitcoin appreciate this year, in the last few weeks Ethereum's just been a rocket ship in terms of a price appreciation. Um, how much of that is sort of what's going on in Washington and are there things that are in the either, I mean, I we have the stable coin legislation pass, but in terms of the legislation being considered that will have implications for Ethereum specifically?
Great question. So Ethereum is the largest beneficiary of the Genius Act, which is the stable coin bill because Ethereum hosts is home to the majority of stable coins. So with the Bitcoin blockchain, you have one asset, a Bitcoin, and you can do one thing. You can move it from one person to another. With Ethereum, you can have infinite assets that you can tokenize, and then you can embed these tokens into digital legal agreements, called smart contracts. And we've found that Ethereum has this escape velocity where 90% of tokenization and real world assets and stable coins are residing on Ethereum.
Andrew, thanks so much. We'll keep in touch. See how it all goes. Appreciate your time.
Thank you.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Tesla disappoints on earnings but wins on one major front
Tesla disappoints on earnings but wins on one major front originally appeared on TheStreet. Tesla didn't mention Bitcoin once in its second-quarter 2025 financial filing, even as investors and analysts scanned the company's balance sheet for any sign of movement in its crypto treasury. The silence isn't new. Tesla hasn't added or sold any Bitcoin for eight straight quarters, and the company's digital asset holdings remain unchanged at $184 million, according to the 10-Q form filed with the SEC on July 23. That's the same value it reported in the first quarter of 2024, with no impairment losses or gains noted this time either. Tesla had initially bought $1.5 billion worth of Bitcoin in early 2021. Since then, it's sold off the majority, with the last major sale happening in Q2 2022 when it offloaded roughly 75% of its BTC stash. Tesla holds 9,720 BTC as of its last disclosure. At today's Bitcoin price of $118,000, that stash is worth approximately $1.15 declines Beyond crypto, Tesla's earnings disappointed on several fronts. The company reported revenue of $22.5 billion — missing analyst estimates of $22.74 billion — and adjusted earnings per share of $0.40, below the expected $0.43. Automotive revenue fell 16% year-over-year, the second straight quarterly decline. In early July, Tesla had already reported a 14% drop in Q2 vehicle deliveries to 384,000 units. The stock is down roughly 18% this year, marking the worst performance among big tech names. By comparison, the Nasdaq Composite is up about 9% in 2025. Meanwhile, Tesla has delayed its affordable 'Model 2' EV, leaving the field open for rivals. Chinese EV makers are aggressively pushing cheaper, tech-laden vehicles that are eating into Tesla's global market share. Still holding the bag Despite the financial and political turbulence, Tesla appears to be holding firm on its crypto position—for now. But with mounting pressure from declining revenues and reputational hits, investors are watching closely for any future changes to the company's digital asset strategy. As of now, though, the Bitcoin line in Tesla's earnings reports remains quiet. No buys. No sells. Just HODLing. Tesla disappoints on earnings but wins on one major front first appeared on TheStreet on Jul 23, 2025 This story was originally reported by TheStreet on Jul 23, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
From balance sheet to alpha engine: The Bitcoin treasury strategy arms race
From balance sheet to alpha engine: The Bitcoin treasury strategy arms race originally appeared on TheStreet. Bitcoin treasuries have moved from a curiosity to a capital markets trend with teeth. What began as MicroStrategy's audacious balance sheet bet has ballooned into a $100 billion movement across public and private companies. The question now isn't whether to hold Bitcoin—it's how to manage it. Today's treasuries are increasingly being scrutinized not just for exposure, but for strategy. Passive buy-and-hold approaches—common among early adopters—are now being challenged by firms looking to generate yield, hedge volatility, and even deploy AI-driven trading overlays. 'Everyone wants to have this Bitcoin treasury so that people can get proxy exposure to Bitcoin,' said David Brickell of FRNT. 'But it kind of seems a waste of balance sheet. How do we actually maximize that?' The answer, for many, lies in treating Bitcoin less like gold and more like a yield-generating portfolio asset. Firms like FRNT and Hilbert Capital are experimenting with frameworks borrowed from traditional corporate treasury practices: optimizing for drawdowns, layering in risk management tools, and targeting alpha without compromising core holdings. This approach aims to deliver returns that outperform Bitcoin itself—without exposing the firm to catastrophic downside. But as more companies jump in, the space is becoming noisy. 'When people like GameStop are doing it, borrowing money to buy Bitcoin, it starts to feel bubbly,' said Lucy Balicki. The market has begun to blur the line between strategic treasury allocation and stock-pumping theatrics. Still, the trend is clear: Bitcoin is no longer just a speculative asset. It's becoming a programmable layer of corporate finance. And in this new era, the winners won't just be the ones who hold the most BTC—they'll be the ones who manage it best. From balance sheet to alpha engine: The Bitcoin treasury strategy arms race first appeared on TheStreet on Jul 23, 2025 This story was originally reported by TheStreet on Jul 23, 2025, where it first appeared. Sign in to access your portfolio
Yahoo
3 hours ago
- Yahoo
Genius, Clarity bills sail through House in major win for crypto
In a historic victory for crypto, the House of Representatives approved three industry-backed bills on Thursday, one of which President Donald Trump will sign Friday afternoon. Two of the bills drew significant — an unexpected — bipartisan support. The Clarity Act, which would install the Commodity Futures Trading Commission as the industry's primary regulator, passed 294-134. Most Democrats, furious the bill didn't include language barring Trump from launching or promoting his own crypto companies, voted against the bill. Still, the so-called market structure bill earned greater bipartisan support than a similar bill that passed the House last year. The Clarity Act drew support from 78 Democrats. Only 71 Democrats voted for last year's market structure bill, FIT21. 'The somewhat surprisingly strong Democratic support for the passage of the Clarity Act in the House means that there is a bipartisan constituency for this bill,' Eli Cohen, general counsel at crypto firm Centrifuge, said in a statement. The Genius Act did even better on Thursday. That bill, which will allow banks and other companies to issue their own stablecoins, passed the House 308-122. The Senate approved the Genius Act exactly one month ago. With approval from both chambers of Congress, the bill just needs Trump's signature to become law. The president has scheduled a signing ceremony for 2:30 pm on Friday, according to crypto reporter Eleanor Terrett. Industry trade groups celebrated the bill's passage. 'The bipartisan passage of the GENIUS Act is a watershed moment for digital assets in the United States,' Summer Mersinger, the newly-installed CEO of the Blockchain Association, said in a statement. Amanda Tuminelli, executive director of the DeFi Education Fund, called it a 'historic achievement for the United States.' A third bill, the Anti-CBDC Surveillance State Act, passed 219-210. Only two Democrats voted for the bill, which would ban the US from issuing its own digital currency. Thursday's votes marked the culmination of 'Crypto Week,' which had been hyped as a celebratory moment for a once-embattled industry. But things didn't go according to plan. A group of far-right Republican lawmakers held up a series of procedural votes this week, prompting Trump's direct intervention. The president brokered a deal on Tuesday night, only for that deal to fall apart on Wednesday. After a record-breaking 10-hour vote, the bills cleared their final hurdle late Wednesday, allowing Thursday's votes, which sent the Genius Act to the president and the other two bills to the Senate. Despite Thursday's bipartisan showing, market structure legislation is expected to face steeper odds in the Senate, where 60 votes are typically needed for a bill's passage. Senators have yet to file their own market structure bill. But Democrats on the Senate Committee on Housing, Banking, and Urban Affairs have expressed skepticism over Republicans' stated principles for such legislation. 'It's critical that any crypto regulation bill we pass does not have massive unintended consequences,' Senator Elizabeth Warren, a Democrat from Massachusetts, said last week. Aleks Gilbert is DL News' New York-based DeFi correspondent. You can reach him at aleks@ Sign in to access your portfolio
