Crypto Biz: The Recession Ruckus

Crypto Biz: The Recession Ruckus 🚨

It’s like the universe decided to play a cruel joke on us. As the crypto market is booming, recession looms large on the horizon. Ah, the classic “can’t win for losing” scenario. 😂

America’s pro-crypto policy shift has become a bipartisan commitment, because who doesn’t love a good stablecoin? According to US Representative and California Democrat Ro Khanna, at least 70 of his fellow party members now understand the importance of stablecoin regulation. Because, you know, stability is key. 🤯

ARK Invest CEO Cathie Wood is the latest crypto industry executive to sound the recession alarm. And by “alarm,” I mean her voice is screaming at the top of her lungs, “WE’RE ALL GOING TO DIE!” (Just kidding, she’s just worried about a recession.)

Wood implied that the White House could be underestimating the recession risk facing the economy as a result of Trump’s latest tariff war. Because, you know, tariffs are just a great way to stimulate the economy. 🤑

“We are worried about a recession,” Wood said. “We think the velocity of money is slowing down dramatically.” Ah, yes, because nothing says “recession” like a slowdown in the velocity of money. 🚨

However, recessionary forces could end up being a boon for risk assets like crypto. Because, you know, nothing says “stable” like a asset that’s prone to wild fluctuations. 🤪

The US could have comprehensive stablecoin legislation in as little as two months, according to Bo Hines, the recently appointed executive director of Trump’s Presidential Council of Advisers on Digital Assets. Because, you know, stability is just a two-month fix away. 🎉

The GENIUS Act seeks to establish clear guidelines for US stablecoin issuers, including collateralization requirements and compliance rules with Anti-Money Laundering laws. Because, you know, stability is all about following the rules. 🤓

Ethena Labs and Securitize are launching a new blockchain designed to boost retail and institutional adoption of DeFi products and tokenized assets. Because, you know, who needs traditional finance when you have DeFi? 🤯

Converge will also leverage Securitize’s RWA infrastructure. The company has minted nearly $2 billion in tokenized RWAs across various blockchains, including the BlackRock USD Institutional Digital Liquidity Fund, which was initially launched on Ethereum and has since expanded to Aptos, Arbitrum, Avalanche, Optimism and Polygon. Because, you know, who needs a stablecoin when you have a blockchain that’s been around the block a few times? 🚗

Canary Capital files for Sui ETF

Canary Capital has submitted its Form S-1 filing to the US Securities and Exchange Commission (SEC) to list an exchange-traded fund tied to Sui (SUI), the native token of the layer-1 blockchain used for staking and fees. Because, you know, who needs a stablecoin when you have a token that’s just begging to be ETF-ified? 🤑

Crypto Biz is your weekly pulse on the business behind blockchain and crypto, delivered directly to your inbox every Thursday.

2025-03-21 23:39

Canary Capital files for Sui ETF

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