Latest news with #Deribit
Yahoo
36 minutes ago
- Business
- Yahoo
Bitcoin traders pile $868m into bets that price will exceed $140,000 by September
Bitcoin traders are piling into outsized bets that its price will rise above $140,000 by the end of September. Data from crypto derivatives exchange Deribit shows more than $868 million worth of September call options at that strike price. Calls are bullish option bets that the price of the underlying asset will exceed the strike price upon the contract's expiry, which in this case is $140,000 by September 26. Such implicit bullish bias signals a strong belief in Bitcoin's upward momentum, just as Bitcoin broke past $112,000 on Wednesday, to log a new all-time high. Earlier this month, several market watchers predicted that Bitcoin was primed for a big price push in July. Markus Thielen, CEO of 10x Research, predicted that Bitcoin could reach $116,000 while Bitwise analysts forecasted an even bigger price push to $136,000 in July. Bitcoin traders share the same conviction, as even short-dated contracts show similar bullish bias. Traders are betting Bitcoin will exceed $120,000 by the end of July, based on data from Deribit. 'July will test markets, but Bitcoin looks built for it,' Roshan Roberts, CEO of OKX US, told DL News. Roberts said big-money players are increasingly adopting Bitcoin as a macro hedge and that altcoins failing to mount a significant recovery is also adding to Bitcoin's shine. Illia Otychenjo, lead analyst at a crypto exchange, previously predicted that $64 billion in capital could shift from altcoins to Bitcoin this quarter. For many market watchers, there are several reasons to be bullish about Bitcoin, even if crypto volumes will dwindle during the summer months. Corporate treasuries are growing fonder of Bitcoin, and that could add steady buying pressure. In the last 30 days alone, at least 21 companies have announced plans to deploy about $3.5 billion into their Bitcoin treasuries. This all-time high comes while there is still a lot of money sidelined and waiting to be deployed,' Mauricio Di Bartolomeo, co-founder of Ledn, a Bitcoin lending firm, told DL News. 'If this trend continues, we may see Bitcoin price move higher from here.' The expectation of an imminent Bitcoin surge may also be boosted by traders pricing in interest rate cuts by the end of the quarter. Data from the CME FedWatch tool shows a 63% chance the Federal Reserve will lower interest rates by September. Lower interest rates are usually a boon for investments in risk-on assets like Bitcoin and cryptocurrencies. Osato Avan-Nomayo is our Nigeria-based DeFi correspondent. He covers DeFi and tech. Got a tip? Please contact him at osato@
Bloomberg
an hour ago
- Business
- Bloomberg
Bitcoin Bear Makes High Stakes Options Wager on Drop to $110,000
A crypto investor just made a high-stakes wager that Bitcoin will fall at least 8% to below $110,000 by early August. On Tuesday, the unidentified speculator paid about $5 million in premium on the Deribit exchange to buy Bitcoin put options expiring on Aug. 8 at the strike price of $110,000, according to prime broker FalconX, which facilitated the trade. There were two transactions - for 3,000 and 2,000 Bitcoin, respectively - making the full trade size roughly $600 million in notional value.
Yahoo
5 days ago
- Business
- Yahoo
Bitcoin Treads Water as Traders Eye $140K: Crypto Daybook Americas
By Francisco Rodrigues (All times ET unless indicated otherwise) While bitcoin (BTC) is pretty much back to where it was 24 hours ago, ether (ETH) and XRP (XRP) extended their gains after the House of Representatives passed the first major crypto regulatory initiative in the U.S. even though the legislation is aimed at stablecoins. It's the knock-on effect that spurred trading activity. More about that later. While the second- and third-largest cryptocurrencies have outpaced their larger rival in the past seven and 30 days, it's worth noting BTC has climbed more than 40% in the past three months and hit a new record high. Market participants are betting the party isn't over yet, the derivatives market shows. Bitcoin's options market now carries a $2.36 billion wager the price will clear $140,000, data from Deribit shows. That single strike price holds the most open interest on the exchange, double the OI of the busiest put option, or bet on a decline. Ether options show a similar pattern. The $4,000 call leads with $651 million in open interest, and another $280 million is targeting $6,000. The data shows how heavily the market is tilting bullish even after ETH surged more than 125% in just three months. As the prices rise, the money flows in. Spot bitcoin ETFs have already brought in $5.41 billion this month, the most since November 2024, when President Donald Trump was elected on a pro-crypto platform. Spot ether ETFs saw net inflows of $2.88 billion, the highest since August 2024, SoSoValue data shows. As an aside, to underpin the altcoin narrative, net inflows into the ether ETFs beat those for bitcoin ETFs yesterday. To Boris Alergant, the head of institutional partnerships at Babylon Labs, these flows underscore 'the shift from speculative retail to long-term institutional allocation.' The regulatory environment is part of the story. The GENIUS Act, expected to be signed into law later today, tightens rules for yield-bearing stablecoins. The law is seen as nudging treasurers toward native ETH staking and transparent restaking vaults. Robinson Burkey, co-founder of the Wormhole Foundation, told CoinDesk the GENIUS act, along with the Clarity Act are the 'first meaningful answers' to the crypto market's requests for rules that won't stifle innovation. Trump is also expected to sign an executive order in the near future opening up 401K plans to investments beyond stocks and bonds. That would open the $9 trillion U.S. retirement market to cryptocurrency, gold and other investments. 'It's plausible that the meaningful progression of legislative matters could be the catalyst for unlocking further participation from risk-averse capital that has been sitting on the sidelines waiting for regulatory certainty,' Babylon Labs' Alergant told CoinDesk. 'When you combine structural demand, tightening BTC supply post-halving, and a potentially favorable policy backdrop, the setup for this market remains incredibly strong.' Still, bitcoin's share of the market has been dropping this month and the broad CoinDesk 20 (CD20) index is up 32% this month, outperforming the bitcoin-heavy CoinDesk 5 (CD5), which rose 17% in the same period. Bitcoin dominance, which measures bitcoin's weighting in what is now a more than $4 trillion market cap, has dropped to 61.7% from 65.5% on June 30. 'The infrastructure has matured, stablecoins are proven, liquidity is deeper, and execution is faster, making this cycle feel more durable than past rallies.' Sei Labs co-founder Jeff Feng told CoinDesk 'It's a pivotal moment for on-chain finance to prove its staying power.' Stay alert! What to Watch Crypto July 18: Lorenzo Protocol, a Cosmos-based blockchain with native token BANK, launches USD1+ OTF on BNB Chain's mainnet. The institutional-grade on-chain traded fund lets users stake stablecoins to mint sUSD1+ tokens that earn stable, NAV-backed yield from real-world assets, CeFi quantitative strategies and DeFi protocols. All returns are settled in USD1 stablecoin, issued by World Liberty Financial, whose stablecoin infrastructure powers the product's stable yield mechanism. July 18, 2:30 p.m.: President Trump is expected to sign the GENIUS Act into law at a White House ceremony, enacting the first major U.S. federal stablecoin regulatory framework following House passage during Crypto Week. Macro July 18, 10 a.m.: The University of Michigan releases (Preliminary) July U.S. consumer sentiment data. Michigan Consumer Sentiment Est. 61.5 vs. Prev. 60.7 July 21, 8:30 a.m.: Statistics Canada releases June producer price inflation data. PPI MoM Prev. -0.5% PPI YoY Prev. 1.2% Aug. 1, 12:01 a.m.: New U.S. tariffs take effect on imports from trade partners that failed to reach agreements by the July 9 deadline. These increased duties could range from 10% to as high as 70%, impacting a wide range of goods. Earnings (Estimates based on FactSet data) July 23: Tesla (TSLA), post-market, $0.42 July 29: PayPal Holdings (PYPL), pre-market, $1.29 July 30: Robinhood Markets (HOOD), post-market, $0.30 July 31: Coinbase Global (COIN), post-market, $1.35 July 31: Reddit (RDDT), post-market, $0.19 Aug. 5: Galaxy Digital (GLXY), pre-market Token Events Governance votes & calls Aavegotchi DAO is voting on a $245,000 funding proposal to expand Gotchi Battler into a revenue-generating game with PvE modes, NFTs and battle passes, aiming to reverse declining player numbers, boost GHST utility and create sustainable rewards. Voting ends July 22. Ethereum Name Service DAO is voting on a proposal from Tally to enter a one-year renewable agreement to enhance ENS governance. Voting ends July 22. Rocket Pool DAO is voting to finalize Saturn 1's implementation. Approval by a 75% supermajority will ratify key protocol changes, including new transaction designs and a potential revenue share to the pDAO treasury. Voting ends July 24. NEAR Protocol is voting on potentially reducing NEAR's inflation from 5% to 2.5%. Two-thirds of validators must approval the proposal for it to pass, and if so it could be implemented by late Q3. Voting ends Aug. 1. July 29, 10 a.m.: to host a bi-quarterly analyst call. Unlocks July 20: LayerZero (ZRO) to unlock 23.13% of its circulating supply worth $60.41 million. July 25: Venom (VENOM) to unlock 2.84% of its circulating supply worth $12.88 million. July 31: Optimism (OP) to unlock 1.79% of its circulating supply worth $24.16 million. Aug. 1: Sui (SUI) to unlock 1.27% of its circulating supply worth $178.18 million. Aug. 2: Ethena (ENA) to unlock 0.64% of its circulating supply worth $16.77 million. Token Launches July 18: PUMP to be listed on OKX. July 18: (TA) to be listed on Binance Alpha, BingX, and others. Conferences The CoinDesk Policy & Regulation conference (formerly known as State of Crypto) is a one-day boutique event held in Washington on Sept. 10 that allows general counsels, compliance officers and regulatory executives to meet with public officials responsible for crypto legislation and regulatory oversight. Space is limited. Use code CDB10 for 10% off your registration through July 17. July 20: Crypto Coin Day 7/20 (Atlanta) July 21-22: Malaysia Blockchain Week 2025 (Kuala Lumpur) July 24: Decasonic's Web3 Investor Day 2025 (Chicago) July 25: Blockchain Summit Global (Montevideo, Uruguay) July 28-29: TWS Conference 2025 (Singapore) Aug. 6-7: 2025 (Rio de Janeiro, Brazil) Aug. 6-10: Rare EVO (Las Vegas) Aug. 7-8: bitcoin++ (Riga, Latvia) Aug. 9-10: Baltic Honeybadger 2025 (Riga, Latvia) Aug. 9-10: Conviction 2025 (Ho Chi Minh City, Vietnam) Token Talk By Shaurya Malwa Shiba Inu lead Shytoshi Kusama has internally released a 36-page, AI-focused whitepaper titled "The ShibPaper," teasing a new evolution for the SHIB ecosystem. While the full document isn't public, insiders suggest it outlines how AI will integrate into the projects roadmap, potentially reshaping infrastructure, governance and user engagement. Marketing head Lucie called it 'a new season or a whole new show,' playfully branding it SHIB City: The AI Utopia. The release triggered a 3,615% spike in SHIB's burn rate, with 6.3 million tokens destroyed in 24 hours, including a 5.8 million token burn in a single transaction. The sudden jump in burnings comes despite the weekly burn rate being down 97%, suggesting renewed community interest tied to the whitepaper buzz. With AI tailwinds and rising burn activity, SHIB appears to be positioning itself for a new narrative cycle in the memecoin world. Derivatives Positioning Open interest (OI) across top derivatives venues remains close to all time highs According to Velo, BTC OI currently sits at $32.2 billion, just shy of the record $33 billion hit earlier in the week. Binance still leads the market with $13.7 billion open interest, followed by Bybit at $8.4 billion. BTC three-month annualized basis is starting to rise and is currently at 8%. That's still some way off the Q4 2024 highs of around 15%. In terms of perpetual volumes, ETH exceeded BTC for a second consecutive day at $167.7 billion vs. $111.4 billion, according to Coinglass data. BTC put and call contracts stand at 325,000, with BTC calls accounting for more than 60% of the total for the second consecutive day, according to Velo. Open interest for BTC options is at an all time high of $51.67 billion, Coinglass data show. ETH has 2.62 million call and put contracts with 69% being calls. At $12 billion, ETH open interest is starting to pick up, but is still below the all-time high of $14.76 billion from March 2024, as per Coinglass data. Funding rate APRs across perpetual swaps have started to pick up, according to Velo data. BTC annualized funding on Hyperliquid has jumped to around 52%, up from 10% yesterday. ETH surged to 90% from 10% yesterday. Alts such as XRP (104%) and DOGE (92%) are also starting to reach high levels of annualized funding rates, as per Coinglass Coinglass data shows $812 million in 24 hour liquidations, which is higher than Thursday's $521.29 million. This is skewed 59% towards shorts liquidations, with ETH leading in terms of notional liquidations at $238 million followed by BTC at $147 million. Binance's liquidation heatmap for BTC indicates high leverage positions at $119,000. BTC dominance continues to hover above 60% but is declining and with a sharp pickup in funding across majors and alts, potential short term cooldown in prices is a possibility. Market Movements BTC is down 0.57% from 4 p.m. ET Wednesday at $118,738.05 (24hrs: -0.26%) ETH is up 0.23% at $3,426.89 (24hrs: +4.58%) CoinDesk 20 is up 3.51% at 4,046.62 (24hrs: +3.41%) Ether CESR Composite Staking Rate is up 3 bps at 3.08% BTC funding rate is at 0.0218% (23.871% annualized) on KuCoin DXY is down 0.37% at 98.37 Gold futures are up 0.46% at $3,360.60 Silver futures are up 1.30% at $38.80 Nikkei 225 closed down 0.21% at 39,819.11 Hang Seng closed up 1.33% at 24,825.66 FTSE is up 0.28% at 8,997.58 Euro Stoxx 50 is up 0.44% at 5,400.99 DJIA closed on Thursday up 0.52% at 44,484.49 S&P 500 closed up 0.54% at 6,297.36 Nasdaq Composite closed up 0.75% at 20,885.65 S&P/TSX Composite closed up 0.86% at 27,386.93 S&P 40 Latin America closed up 0.58% at 2,628.42 U.S. 10-Year Treasury rate is down 1.8 bps at 4.445% E-mini S&P 500 futures are up 0.13% at 6,349.00 E-mini Nasdaq-100 futures are up 0.14% at 23,284.00 E-mini Dow Jones Industrial Average Index are up 0.15% at 44,783.00 Bitcoin Stats BTC Dominance: 61.68% (-0.9%) Ether to bitcoin ratio: 0.03035 (4.08%) Hashrate (seven-day moving average): 898 EH/s Hashprice (spot): $60.07 Total Fees: 6.33 BTC / $751,661 CME Futures Open Interest: 159,640 BTC priced in gold: 35.4 oz. BTC vs gold market cap: 10.07% Technical Analysis Market sentiment has turned sharply bullish following the House's passage of the GENIUS and CLARITY acts alongside reports that President Trump is preparing to allow retirement accounts to invest in alternative assets, including digital assets. Among the standout performers, XRP surged to a new all-time high of $3.65. However, there are early signs of caution, with a potential bearish RSI divergence forming on the weekly timeframe. From a technical perspective, XRP needs to maintain a weekly close above $3.30 to invalidate the risk of a swing failure pattern. If the bullish conditions hold, the next long-term upside target for XRP could be around $5.19, which aligns with the key Fibonacci extension level following its retracement to the golden pocket in April. Crypto Equities Strategy (MSTR): closed on Thursday at $451.34 (-1%), +0.56% at $453.85 Coinbase Global (COIN): closed at $410.75 (+3.15%), +1.74% at $417.91 Circle (CRCL): closed at $235.08 (+0.81%), +2.94% at $241.99 Galaxy Digital (GLXY): closed at $26.04 (+6.9%), +10.45% at $28.76 MARA Holdings (MARA): closed at $19.97 (+2.73%), +0.95% at $20.16 Riot Platforms (RIOT): closed at $13.33 (+6.05%), +0.98% at $13.46 Core Scientific (CORZ): closed at $13.47 (-3.23%), +1.11% at $13.62 CleanSpark (CLSK): closed at $12.98 (+3.26%), +1.16% at $13.13 CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $26.83 (+2.52%), +3.54% at $27.78 Semler Scientific (SMLR): closed at $43.6 (+2.08%), +0.46% at $43.80 Exodus Movement (EXOD): closed at $36.3 (-4.92%), +2.89% at $37.35 SharpLink Gaming (SBET): closed at $36.4 (-2.62%), +5.19% at $38.29 ETF Flows Spot BTC ETFs Daily net flows: $522.6 million Cumulative net flows: $54.36 billion Total BTC holdings ~1.29 million Spot ETH ETFs Daily net flows: $602 million Cumulative net flows: $7.1 billion Total ETH holdings ~4.78 million Source: Farside Investors Overnight Flows Chart of the Day Ether futures open interest hit an all-time high as the second-largest cryptocurrency surges on an expected shift from yield-bearing stablecoins to ETH-based strategies. The cryptocurrency underperformed the wider market for months as bitcoin's dominance rose. Now, it's more than doubled in just three months. While You Were Sleeping What Is Big Money Betting on? Bitcoin $140K, Ether $4K Calls Lead Open Interest (CoinDesk): The GENIUS Act's stablecoin curbs are expected to drive more ETH staking and restaking, boosting activity on the Ethereum blockchain and strengthening ether's long-term appeal to institutional treasuries, Republic Technologies' CEO said. Dogecoin Open Futures Bets Surge to Record 16B DOGE as Prices Top Downtrend Line (CoinDesk): Open interest in DOGE futures has climbed 48% to a record 16.24 billion tokens, with positive funding rates signaling growing demand for bullish bets and potential for greater volatility. Bitcoin DeFi Has Ballooned 20x Since Start of 2024 as Builders Bet on Yield (CoinDesk): Bitcoin-native DeFi has grown to $6.36 billion from $307 million this year, led by lending protocols. Developers are exploring new infrastructure to overcome the blockchain's limited smart-contract functionality. Lula Says He Won't Take Orders From Foreigner Trump, Calls Tariffs Blackmail (Reuters): The Brazilian president, buoyed by rising approval since the feud with his U.S. counterpart began, vowed to press ahead with measures targeting U.S. social media platforms he called purveyors of fake news. EU Backs Revised Russia Oil Price Cap and New Russia Sanctions (Bloomberg): The new sanctions package expands SWIFT bans to 20 more Russian banks, targets 400 covert oil tankers and penalizes more foreign firms accused of helping Moscow evade trade restrictions. Japan Inflation Eases, But BOJ Still Faces Policy Challenges (The Wall Street Journal): A dip in Japan's core inflation offered some relief, but sticky food prices and uncertainty over President Trump's looming tariffs complicate the central bank's outlook for further tightening. 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Yahoo
6 days ago
- Business
- Yahoo
What Is Big Money Betting on? Bitcoin $140K, Ether $4K Calls Lead Open Interest
Prices for bitcoin (BTC) and ether (ETH) have risen 29% and 9% this year, and traders are positioning for further upside in the major cryptocurrencies. Data from leading crypto options exchange Deribit showed that traders have placed $2.36 billion in notional open interest in the $140,000 strike call option, making it the most popular bet on the platform. This robust positioning extends to the $120,000 and $130,000 call strikes. In stark contrast, the most popular put option at the $100,000 strike holds only half the open interest of the top call, underscoring the strong bullish sentiment in the market. The ether options paint a similar bullish picture. As of the time of writing, the $4,000 call was the heaviest, with a notional open interest of $650.8 million, according to data source Amberdata. Meanwhile, nearly $280 million was locked in the call option at the $6,000 strike. A call option gives the holder the right but not the obligation to purchase the underlying asset at a predetermined price on or before a specific date. A call buyer is implicitly bullish on the market, while a put buyer is bearish. Market flows over decentralized platforms also paint a bullish picture for ether. On Derive, 25% of ETH's trading volume of the past 24 hours has been concentrated in calls between $3,000 and $4,000 for the July 25 expiry, the exchange told CoinDesk. Additionally, 8% of the July 25 expiry open interest is locked in the $4,000 call. "[Its] a strong signal that traders are aligned on a fast, continued breakout and reflects a growing appetite for leveraged long exposure as bullish conviction builds," Dr. Sean Dawson, head of research at Derive, told CoinDesk. The bullish bias for ETH is likely catalyzed by positive regulatory developments in the U.S, particularly the passage of the GENIUS Act stablecoin regulation. The bill is said to come down heavy on yield-bearing stablecoins, marking a positive pivot for the Ethereum-dominated decentralized finance. "We anticipate two major shifts in a post-GENIUS landscape. First, treasurers seeking crypto-denominated yield will increasingly turn to native ETH staking and transparent restaking vaults. Second, yield-bearing tokens will evolve into clearly defined, auditable assets—distinct from stablecoins and unburdened by legacy regulatory assumptions," Daniel Liu, CEO of Republic Technologies, said in an email. "Both trends are likely to increase transaction activity and fee generation on Ethereum, reinforcing the long-term value of ETH and strengthening the case for institutional treasuries holding it," Liu added.
Economic Times
16-07-2025
- Business
- Economic Times
Digital dollars will pay interest — by the back door
This year is proving to be something of a 'ChatGPT moment' for stablecoins. But while the excitement is palpable, their utility is still unclear. They are useful to exchange fiat money for speculative assets like Bitcoin. However, outside the world of cryptocurrencies, why would anyone want to hold tokens that are prohibited from paying their users anything? ADVERTISEMENT The upcoming US regulations for these 1:1 blockchain copies of the greenback have led to aggressive forecasts of where the $260 billion market is headed. Some of that enthusiasm is visible in Circle Internet Group Inc.'s shares, which have risen sixfold over their $31 initial public offering price last month. Circle's USDC is the second-most-popular digital dollar after Tether's USDT. Stablecoins are also benefiting from a general crypto rush, with Bitcoin soaring to a record $120,000 this week. The higher the price of the industry bellwether, the greater the demand for digital dollars to trade the asset efficiently in spot and derivative markets. However, to turbocharge mass adoption and propel the market to $3 trillion or more by 2030, requires precisely what authorities nearly everywhere, including the US, will not allow: yield-bearing thinking is that these tokens are private representations of sovereign money. To fulfil their promise of converting on par to government-issued currency, issuers must park their funds in liquid short-dated treasury bills and earn returns only for their shareholders. Should they be permitted to also produce a yield for depositors, they would become lightly regulated shadow banks, enticing customers by taking risks that may not always be apparent to authorities. But the industry will not be stymied by such obstacles. While regulated stablecoins themselves may not pay interest, they can offer near-instantaneous, two-way exchange into something that can. And that product is a tokenised money-market fund. Earlier this year, Circle acquired Hashnote, the issuer of USYC, a yield-bearing coin backed by short-term US Treasury securities. ADVERTISEMENT Suppose a crypto enthusiast wants to buy a Bitcoin option. She can convert her USDC to USYC, and use it to fund her account the same day at Deribit, a popular crypto derivatives exchange. The collateral will earn interest that USDC can't. With tokenised funds, transfers can occur instantly, with 'dividends calculated precisely, down to the second.' As much as $5.7 trillion of cash is sitting in traditional government money-market funds that invest in US Treasuries. It isn't just the crypto upstarts circling around the huge market. Large asset managers are offering their own blockchain products. BlackRock Inc.'s BUIDL fund tokens are now acceptable collateral at both Deribit and Franklin Templeton has brought its tokenised US dollar money-market fund to Singapore's retail investors. In Hong Kong, existing money-market funds are starting to offer new shares on the blockchain. There may be more of these when the city starts issuing licenses for Hong Kong dollar stablecoins. ADVERTISEMENT The market value of stablecoins currently, when they're dominated by USDT and USDC, is approaching 5% of government money-market funds. Expect that figure to rise as new players enter, offering seamless swaps between digital dollars and yield-bearing tokenised a high-interest-rate environment, stablecoin demand suffers because of the opportunity cost of holding an instrument that pays nothing. A combo package, in which stablecoins are preferred for payments and money-market funds are used to post collateral, is the likely future of digital money. Tokens that offer convertibility at par into the sovereign unit of account while paying market rates of interest will potentially reshape the stablecoin market, the Bank for International Settlements said in a bulletin last week. ADVERTISEMENT For financial regulators, that may not be a blessing. As Yale School of Management finance professor Gary Gorton and former Federal Reserve attorney Jeffery Zhang pointed out in their 2021 paper, Taming Wildcat Stablecoins, money-market funds, which have avoided being regulated as bank deposits, had to be bailed out twice in just over a decade: during the 2008 crisis, and when Covid-19 struck. 'If policymakers wait a decade, stablecoins might become a multitrillion-dollar industry — too big to fail — and the government will have to step in with a rescue package whenever there's a financial panic.' Also read: Mutual funds dump Rs 1,700 crore worth of 9 defence stocks. Too expensive to buy or smart exit? ADVERTISEMENT Pressure from the industry is going to push authorities to accept that risk. Eventually, the crypto world's cash will pay interest by the back door. That's when stablecoins will go truly mainstream and become a raging headache for regulators worldwide.
