The Senate has just passed the Stubcoin bill, but don’t hold your breath to sail into the cryptography
Last week, the crypto industry celebrated its latest victory: the Senate I passed The Genius Act regulates the red-hot stablecoin sector. From the enormous volume of Breathtaking praiseand roughly equivalent amounts Manor Mullingyou might expect the bill to pass through the House and land on President Trump’s desk by the end of the summer. However, reality is always thorny.
To take a step back, consider the pure impossibility that Crypto has become one of Congress’s top priorities. This is not a healthcare reform or a major infrastructure vehicle. It can be argued that attempts to create regulations for the crypto sector are in the spirit of Dodd Frank, but the groundbreaking bill took place in the greatest financial crisis since Great Repression, forming the foundation of the banking system.
The push for the crypto bill was absent due to the financial crisis. In fact, the opposite happened. Legislative efforts stalled after the collapse of Sambankmanfried’s Crypto Exchange FTX in late 2022. I spent time Trump, North of $100 million political donations It was accepted This Congressional sector, and a bipartisan group of lawmakers, took up the mantle.
Even if the 10-foot pole didn’t touch the code, the passage of Stablecoin Bill brought the sector dangerously close to the mainstream. Don’t forget that Stablecoins are a kind of cryptocurrency that is usually pinned in the US dollar. In the past, Crypto traders have used Stablecoins primarily for chain trading, but companies are increasingly hiring for cross-border payments and salaries, while non-blockchain companies are more comfortable adopting it as a condition of regulatory outlook. stripe We have made two major acquisitions over the past year. Meta and apple We are investigating integrations and Stablecoin Company Circle has one of them Most successful IPOs In history. It’s probably time to pay attention.
But it all assumes that the bill will pass. Political calculations are not as simple as they seem, despite overwhelming support in the Senate. Cryptocrats Elizabeth Warren. The problem is that the crypto industry doesn’t just want Stablecoin Bill. Influential groups, including Coinbase and Andreessen Horowitz, are hoping for a second bill that makes it easier to create, set up, or set up ways existing institutions such as the Securities and Exchange Commission and the Commodity Futures Trade Commission to issue cryptocurrencies. That is far more ambitious and existentially important for the industry.
Rather than moving forward with a clean version of the Senate’s stubcoin bill, the House Financial Services Chair French Hill (r-ark.) I have it It is clearly stated He wants to pass both, perhaps by putting them together in a crypto megaville. That’s even against Trump’s objection Posted Last week, on the truth social, he wanted the Senate’s stupid bill on his desk with “no delays, no additions (sic).”
The Beltway insider I spoke to, at least at this point, the most likely outcome is that House is putting together the ridiculous bill into the Market Structure Bill. The result is that there is a slight chance that Congress will pass something by August. This was the deadline Trump had previously requested. And if the two bills were ultimately combined rather than engraving their own version of Senate Genius Law, the $100 million shot in the Crypto Industry statute could hit seriously. As one lobbyist told me, “It’s a calculation that everyone wonders (approx.).”
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Venture deals
– DecagonSan Francisco-based Customer Experience Conversation AI platform raised $131 million in Series C funding at a $1.5 billion valuation. accelerator and Andreessen Horowitz Leading the round and participating avra, Pioneer, Libbit Capitaland existing investors *, Bain Capital Ventureand bond.
– Bot PressQuebec-based AI agent developers and deployers raised $25 million in Series B funding. Framework Leading the round and participating The capital of Inovia, Deloitte Venture, Hubspot Ventures, Decibelsand existing investors.
– VedicNew York-based Defi Vault Infrastructure Platform raised $18 million. coinfund Leading the round and participating Coinbase Venture, GSR, Major vortexangel investors, etc.
– Lyceuma Berlin and Zurich-based AI infrastructure developer raised 10.3 million euros ($11.9 million) in pre-seed funds. darpine Leading the round and participating 10x Founder.
– Super DialSan Francisco-based AI platform for healthcare management, has raised $12 million in Series A funding. SignalFire Leading the round and participating A slow venture, Box Groupand Scrub Capital.
– Qualyticsthe Atlanta-based data quality platform for businesses raised $10 million in Series A funding. BMW I Ventures Leading the round and participating Conductive Venture, Hill Fundand existing investors High-tech Square Venture, Knoll Ventures, Inner loop capitaland others.
– Meridianthe Miami-based AI-powered private market trading management platform, has raised $7 million in seed funding. 645 Venture Leading the round, with existing investors joining Chaac Ventures Angel Investor.
– MoonknoxChicago-based Professional Services Delivery AI Solutions has raised $2 million in funding. M25 Leading the round and participating Hyde Park AngelS, Early light venturesand Service Provider Capital.
– Pikedthe Nigeria-based Lagos-based salary and HR management platform has raised $1.8 million in seed funding. Venture Lab Action Leading the round, with existing investors joining Zlosk, Chu Ventureand Zedcrest Capital.
Private Equity
– Edison Partner Invested $20 million Shukonan Atlanta-based nurse practitioner student clinical placement platform.
– Knowledge healthportfolio company Arsenal Capital Partnerobtained Switch rcma healthcare revenue intelligence platform based in Boca Raton, Florida. Financial conditions have not been disclosed.
– Shrieve Chemicalportfolio company The capital of jewelsobtained Carbon Chemistry GroupIreland-based Ringaskiddy, a distributor of specialty chemicals, food ingredients, pharmaceutical ingredients and agricultural products. Financial conditions have not been disclosed.
– Westview Capital Partners Acquired a majority stake Eyeq Monitoringan Atlanta-based AI-powered remote video surveillance security solution provider. Financial conditions have not been disclosed.
other
– Descartes I’ve got it PackagerouteWashington-based FedEx Route Management Solutions provider in Sammamish, $2 million.
– Mutsuru I agreed to get it Intimate groupGermany-based transportation and logistics company Isanhagen. Super Group. Financial conditions have not been disclosed.