1/ FraxNet is LIVE 🥳
Welcome to your stablecoin money account. FraxNet is your hub for minting, redeeming, and earning with frxUSD, our flagship stablecoin built to the GENIUS standard. Available on 20 chains.
JUST IN: @FortuneMagazine just released Fortune Crypto 100: a definitive list of the most influential blockchain companies, built with data analysis from @inca_digital a survey of leading crypto experts.
The stablecoin ranking includes Frax at #5 đź‘€
JUST IN: @Bitwise CIO @Matt_Hougan says advisors are now more interested in stablecoins tokenization than Bitcoin after meetings with 40 advisory teams this week.
Translation: right now the market is more excited about digital dollars than digital gold.
Source: experts.bitwiseinvestments.c…
¤ Frax take: Frax has been building for this moment for years. We've built the stablecoin operating system for a world that settles onchain.
JUST IN: Bloomberg says Trump-linked @worldlibertyfi stablecoin solana:USD1ttGY1N17NEEHLmELoaybftRBUSErhqYiQzvEmuB is on track to generate ~$150M/yr, with most of the supply held on @binance, fueled by promos (fee-free trades, yield, incentives).
NFP SMASHES EXPECTATIONS:
¤ US job growth: 172k vs 85k expected
¤ April was revised up: 115k → 179k
¤ Unemployment: 4.3% (unchanged)
¤ Wages: 0.3% m/m
Bottom line: the labor market is still holding up, which makes rate cuts harder to justify.
BREAKING: the first Fannie Mae–insured mortgage backed by $BTC in the US just got funded on Coinbase.
BTC isn’t just being held it’s becoming collateral for the American dream.
The first ever Fannie Mae-insured mortgage backed by BTC in the U.S just got funded.
Originated and serviced by Better, powered by Coinbase.
Rolling out nationwide this summer.
¤ Frax Take: Bitcoin holders want to use a scarce asset to get exposure to other scarce assets without selling.
Frax is building toward that world too, where frxUSD can make real estate settlement seamless for crypto holders. More to come: x.com/Frax/status/2049221598…
REVOLUT US STABLECOIN LAUNCHING: Reuters says @Revolut plans to offer stablecoins through its upcoming US bank, alongside FDIC-insured accounts, multi-currency deposits, stocks crypto.
With 75M users, it’s another sign stablecoins are becoming default banking rails.
UK PUSHES FOR STABLECOIN EXPANSION: A House of Lords committee report today urged the Bank of England to rethink ÂŁ20k holding caps and 0-yield backing that could choke GBP stablecoins before they even start.
Source: committees.parliament.uk/com…
The benefits of stablecoins are global. Progressive government officials around the world are quickly realizing they don't want to be left behind.
ETH TO OUTPERFORM BTC? @StanChart Geoffrey Kendrick says Strategy’s first BTC sale since 2022 may be the start of a new regime, with $ETH set to outperform $BTC by ~40% as BTC treasury firms may need to sell to fund obligations, while ETH treasuries can stake for yield instead.
CBDC OFF THE TABLE: Treasury @SecScottBessent reiterates the Trump admin “will not allow” a U.S. CBDC, calling it the first step toward tracking.
Instead: bring crypto onshore. He’s urging Congress to get the CLARITY Act “to the finish line.”
Source: theblock.co/post/402971/scot…
¤ Frax take: CBDCs aren’t just a privacy risk, they stifle innovation. GENIUS was a huge step, and CLARITY can lock in the U.S. as the home for digital asset innovation, a big win for frxUSD and FRAX.
ROBINHOOD GOES AGENTIC: $HOOD users will soon be able to let AI agents trade stocks in a separate “agentic” account and make purchases on a @RobinhoodApp agentic credit card.
BITMINE BOUGHT THE DIP: 111,942 ETH ($237M) in a week, biggest buy since December, taking holdings to ~5.4M ETH (~4.5% of supply).
87% is staked, generating ~$276M/yr in staking revenue.
Does @fundstrat hit his goal of @BitMNR owning 5% of $ETH by year-end?