The Promise of Stablecoins: A Cryptocurrency Meant to Be Boring
President Trump signed the Genius Act, the US's first major federal cryptocurrency legislation, earlier this month. The law focuses on one type of cryptocurrency: stablecoins. So, what exactly is a stablecoin?
On today's Big Take podcast, Bloomberg's Emily Mason joins host Sarah Holder to break down what stablecoins are, how they work and what their wider adoption could mean for the crypto industry, banks and consumers.
Listen and follow The Big Take on Apple Podcasts, Spotify or wherever you get your podcasts.
Terminal clients: click here to subscribe.
Here is a lightly edited transcript of the conversation:
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
21 minutes ago
- Yahoo
Mounjaro and Zepbound fuel strong Q2 growth for Eli Lilly
Eli Lilly reported growth of 172% and 68% for weight loss drug Zepbound and type 2 diabetes (T2D) treatment Mounjaro, respectively, in Q2 2025, though ceded early advantage to Novo Nordisk in the oral glucagon-like receptor agonist (GLP-1RA) arena. Eli Lilly's two tirzepatide drugs, rival to Novo Nordisk's semaglutide, brought in a combined $8.57bn in the quarter, compared to $4.33bn in Q2 2024. Mounjaro led the growth with approximately $5.2bn, while Zepbound generated around $3.4bn. Mounjaro and Zepbound helped drive the US drugmaker's total Q2 revenue to $15.56bn, up 38% from the same period last year. In a conference call, Eli Lilly CEO David Ricks acknowledged the role the two brands played in the company's revenue, highlighting their strong sales and the company's optimism for high-growth ceilings. Eli Lilly now expects full-year revenue between $60bn and $62bn, up from its previous range of $58bn to $61bn. The raise contrasted with rival Novo Nordisk, which reduced its 2025 outlook last week based on headwinds in the GLP-1RA space. However, shares in Lilly dropped 12% after market open to $656.19 following disappointing data published on the same day for oral weight loss candidate orforglipron. The GLP-1RA arena is set for a major juncture amid the potential approval of more patient-friendly oral versions. Both Novo Nordisk and Eli Lilly are developing candidates in this market and vying for an early lead. Results at orforglipron's highest dose, taken once a day, showed a 12.4% (27.3lb) weight loss at 72 weeks. Novo Nordisk's candidate – which was submitted to the US Food and Drug Administration (FDA) for approval in May 2025 – led to a 13.6% average weight loss. However, Lilly has a strong injectable GLP-1RA foundation on which to build. The 68% growth for Mounjaro, sold in the UK and Europe under the same brand name for both diabetes and weight loss, far surpassed that for Novo Nordisk's Ozempic, which only grew 15% in Q2 compared to the same period last year. Wegovy's global sales fared more favourably, growing 75% in Q2. Wegovy, which has been on the market longer than Zepbound, generated just over $16bn more than Lilly's asset. Analysis by GlobalData still forecasts a higher sales ceiling for tirzepatide by 2031 due to the drug's improved efficacy over semaglutide. Pricing discussions with Trump Eli Lilly is part of a wider pharmaceutical industry battling pricing reforms instigated by US President Donald Trump. The administration is seeking to install a most favoured nation pricing model that would match the costs of certain prescription drugs in the country to the lower prices offered in other developed nations. Executives were coy when asked about potential discussions with Trump, with CEO Ricks saying that 'long term it makes sense to rebalance [pricing].' 'We support the administration's position that medical research costs need to be shared more equitably across developed countries,' Ricks commented. Ricks went on to explain that defects in the US pharma market shift costs to patients and increase red tape. In Pfizer's Q2 earnings call, CEO Albert Bourla said it is in 'very active discussions' around drug pricing. He also confirmed that he personally discussed the matter with Trump, following letters to 17 drugmakers – including Eli Lilly – last week calling for price cuts. "Mounjaro and Zepbound fuel strong Q2 growth for Eli Lilly" was originally created and published by Pharmaceutical Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Fast Company
22 minutes ago
- Fast Company
OpenAI unveils GPT-5 model, featuring improved coding and problem-solving chops
TECH The powerful new multi-modal model boosts reasoning, code generation, and real-time inference, and will be available to both free and paid users. [Images: Nathan Howard/Bloomberg via Getty Images; svetolk/Adobe Stock] BY OpenAI on Thursday unveiled its highly anticipated GPT-5, a powerful multi-modal AI model featuring major advancements in problem-solving and coding. The new flagship model was announced during a Thursday morning livestream. Unlike previous releases that were limited to paid subscribers, GPT-5 will be available to free-tier ChatGPT users as well, OpenAI said. OpenAI CEO Sam Altman described interacting with the new model as akin to conversing with a PhD-level expert, noting that while GPT-3 was comparable to a high school student and GPT-4 to a college student, 'With GPT-5 you get an entire team of PhD experts in your pocket, ready to help you,' Altman said. During the announcement, OpenAI researchers emphasized that GPT-5 was designed to be more reliable and accurate, with fewer hallucinations. GPT-5 offers improvements in reasoning, higher-quality code generation, greater autonomy with reduced need for user input, and seamless integration with platforms like ChatGPT and Google's Gmail and Calendar apps. Earlier language models relied only on pre-training to generate responses. GPT-5, like recent inference-based models, can also incorporate new data from user prompts in real time (a method known as 'test-time computing'). This release also unifies OpenAI's model naming, replacing names like o1 and o4-mini with the GPT-5 family, signaling a shift to models that combine both pre-training and inference. For many, the key question is whether the leap from GPT‑4 to GPT-5 will prove as dramatic as the jump from GPT‑3 to GPT‑4. Independent testing will shed light on that. OpenAI also recently introduced two 'open-weight' models —gpt-oss-120b and gpt-oss-20b—which are freely available and modifiable by developers. This move marked a rare shift from its typically closed model strategy. However, with GPT-5, OpenAI returns to its more traditional 'closed' approach. In addition, the company announced a partnership with the U.S. federal government to provide executive branch agencies access to its enterprise-grade chatbot. Through a landmark agreement with the General Services Administration (GSA), ChatGPT Enterprise will be made available to agencies for just $1 per agency for one year. OpenAI has assured that it will not use government data to train its AI models. The early-rate deadline for Fast Company's Most Innovative Companies Awards is Friday, September 5, at 11:59 p.m. PT. Apply today. Sign up for our weekly tech digest. SIGN UP This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Privacy Policy ABOUT THE AUTHOR Mark Sullivan is a San Francisco-based senior writer at Fast Company who focuses on chronicling the advance of artificial intelligence and its effects on business and culture. He's interviewed luminaries from the emerging space including former Google CEO Eric Schmidt, Microsoft's Mustafa Suleyman, and OpenAI's Brad Lightcap More
Bloomberg
23 minutes ago
- Bloomberg
Apple CEO Cook Commits to Build More in US
Apple CEO Tim Cook announces at the White House that the company will invest $600 billion in the US over four years. Standing in the Oval Office on Wednesday with President Donald Trump and Vice President JD Vance, Cook said Apple is also investing in its glass supplier, Corning of New York and expanding other operations in America. The iPhone maker is trying to get a break on tariffs from President Trump. (Source: Bloomberg)
