# Stablecoins Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Stablecoins", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

a16z: Two Suggestions for Crypto Industry Builders in 2026

In their 2026 outlook, a16z crypto partners offer two key recommendations for builders in the crypto space. First, Arianna Simpson argues that while many successful crypto companies are pivoting to trading platforms, this short-term strategy may dilute market focus and limit long-term competitiveness. Trading, though important, should be a transit point rather than the end goal. Founders are encouraged to focus on building substantive products rather than seeking immediate product-market fit through speculative token dynamics. Second, Miles Jennings highlights that regulatory clarity in the U.S. could resolve long-standing legal uncertainties that have hindered blockchain development. Historically, ambiguous securities laws forced projects to prioritize legal risk over product strategy, leading to non-transparent practices and distorted incentives. The anticipated passage of crypto market structure legislation may establish clear standards for token issuance, governance, and decentralization, enabling networks to operate as truly open, autonomous, and decentralized systems. Together, these insights urge builders to prioritize sustainable product development over short-term gains and welcome regulatory clarity as a catalyst for genuine innovation.

marsbit01/15 06:44

a16z: Two Suggestions for Crypto Industry Builders in 2026

marsbit01/15 06:44

Visa Effect

Visa Effect: A Blueprint for Stablecoin Network Growth The article draws parallels between the fragmented early days of the credit card industry and the current state of stablecoins. In the 1960s, numerous banks operated isolated payment networks, creating settlement chaos. Visa succeeded not just through technology, but by creating a cooperative, independent structure that aligned incentives. It acted as a neutral third party, allowing member banks to share profits proportionally, have governance rights, and initially adhere to exclusivity clauses. This fostered powerful network effects. Today, stablecoins face similar fragmentation, with over 300 stablecoins listed on Defillama. Services that enable protocols to issue their own branded stablecoins (e.g., Ethena, Anchorage Digital) are compared to the failed BankAmericard model, which only fractures liquidity and prevents any single stablecoin from achieving mainstream network effects. The proposed solution is a Visa-like model for stablecoins: an independent, third-party cooperative. Issuers and applications supporting a specific asset class would join, share in reserve yields, and have governance rights over the stablecoin's development. This structure would consolidate liquidity, create internal compounding network effects, and drive widespread adoption.

marsbit01/15 01:53

Crypto’s Big Regulatory Overhaul May Crawl Through Years Of Policy Creation: Exec

A top policy official at crypto firm Paradigm warns that a major US regulatory overhaul for cryptocurrency could take years to implement, despite lawmakers unveiling a draft bill. The bill, released by US lawmakers, aims to clarify whether tokens are securities or commodities and assigns oversight of many spot markets to the CFTC. However, Paradigm's Justin Slaughter notes the bill would require approximately 45 separate rules to be written by regulators. He compares the timeline to the post-Dodd-Frank era, which took three to eight years for rules to be finalized. This lengthy process, involving drafting, public comments, and potential legal challenges, would leave the industry in a state of prolonged uncertainty. Industry groups are preparing for phased changes, but bottlenecks like political turnover and debates over DeFi could further slow progress, potentially stretching the rulemaking across two presidential terms.

bitcoinist01/14 18:32

Crypto’s Big Regulatory Overhaul May Crawl Through Years Of Policy Creation: Exec

bitcoinist01/14 18:32

Stablecoins Control 60% of Revenue but Face 'Liquidation' from Interest Rate Cuts

The article analyzes the revenue structure of the crypto industry, highlighting that stablecoin issuers, particularly Tether and Circle, dominate with over 60% of the total revenue, though their share is expected to weaken due to declining interest rates. Decentralized perpetual exchanges (perp DEXs) like Hyperliquid emerged as a significant revenue driver, accounting for 7-8% of total revenue in 2025, surpassing older DeFi sectors. Three key revenue sources are identified: spread income (from stablecoins), trade execution (from perp DEXs), and distribution channels (from token launch platforms). The industry generated $16 billion in revenue in 2025, with 58% retained by protocols after paying suppliers. Notably, value transfer to token holders via rewards, buybacks, and burns increased, reaching over 18% of protocol revenue at its peak, signaling a shift toward token-based economic ownership. The trend is expected to accelerate in 2026 as protocols prioritize incentivizing holders.

比推01/14 14:21

Stablecoins Control 60% of Revenue but Face 'Liquidation' from Interest Rate Cuts

比推01/14 14:21

Ripple Calls XRPL Permissioned Domains A ‘Gamechanger’ As Go-Live Nears

RippleX announces that the XRP Ledger's "Permissioned Domains" amendment is nearing activation, requiring an 80% validator consensus. Currently at 76.47%, this feature introduces institutional-grade access controls on the public blockchain, enabling regulated entities to use permissioned trading and lending protocols without private infrastructure. It paves the way for a Permissioned DEX, limiting market interactions to approved participants, and supports future applications like on-chain foreign exchange and lending. The community highlights the need for more stablecoins and real-world assets to boost liquidity. XRP price is noted at $2.15.

bitcoinist01/14 14:02

Ripple Calls XRPL Permissioned Domains A ‘Gamechanger’ As Go-Live Nears

bitcoinist01/14 14:02

Crypto Market Structure Act to Be Debated Tomorrow Night: An In-Depth Analysis of Four Core Controversies

The U.S. Senate Banking Committee is set to vote on the Digital Asset Market Structure Act (CLARITY Act) on January 15, a pivotal moment for crypto regulation. The bill aims to clarify jurisdictional boundaries between the SEC and CFTC, establish a clear path for digital assets to transition from securities to commodities, and address critical industry controversies. Key debates include: - **Stablecoin Yield Restrictions**: Banking lobbyists push to ban interest payments on stablecoins, fearing deposit outflows and unfair competition, while crypto advocates argue this stifles innovation and global competitiveness. - **DeFi Developer Liability**: A major point of contention is whether developers should face criminal liability for code used in decentralized protocols, with significant implications for innovation and legal responsibility. - **Political Ethics**: Democrats are pushing for "ethics clauses" to prevent conflicts of interest, particularly concerning Trump-family-linked crypto ventures seeking federal banking licenses. The outcome could define regulatory clarity, attract institutional investment, and position the U.S. in the global digital asset landscape, balancing innovation against traditional financial and political interests.

marsbit01/14 11:16

Crypto Market Structure Act to Be Debated Tomorrow Night: An In-Depth Analysis of Four Core Controversies

marsbit01/14 11:16

Who Controls the Revenue Lifeblood of the Crypto Industry?

The article analyzes the revenue dynamics of the crypto industry, which generated over $16 billion in revenue in 2025—double that of 2024. The largest revenue drivers are stablecoin issuers like Tether and Circle, which account for 60% of total industry revenue. However, decentralized perpetual exchanges (perp DEXs) such as Hyperliquid, EdgeX, Lighter, and Axiom emerged as a significant new sector, collectively contributing 7-8% of total revenue—more than established DeFi sectors like lending and staking combined. Three key factors drive crypto revenue: spread income (e.g., interest from stablecoin reserves), transaction execution (e.g., perp DEXs enabling high-frequency trading), and distribution channels (e.g., token launch platforms like pump.fun). The article notes that perp DEXs, with their frictionless trading and liquidity advantages, are the only sector potentially challenging stablecoin issuers' dominance. Additionally, the industry is shifting toward value transfer to token holders via mechanisms like buybacks, burns, and fee sharing. In 2025, $33.6 billion (58% of total fees) was returned to token holders, reinforcing tokens as economic ownership claims rather than mere governance tools. This trend is expected to accelerate in 2026, especially as falling interest rates reduce the appeal of spread-based revenue.

marsbit01/14 09:52

Who Controls the Revenue Lifeblood of the Crypto Industry?

marsbit01/14 09:52

‘Remains to be seen’ if U.S will seize Venezuela’s Bitcoin stash – SEC chair

SEC Chair Paul Atkins expressed uncertainty about whether the U.S. will seize Venezuela’s alleged $60 billion Bitcoin holdings, stating the matter is for other administration officials to address. The existence of such a stash remains unverified, with blockchain intelligence firm Arkham still assessing the claims. Meanwhile, data shows Venezuela ranked fourth in Latin America in crypto adoption, receiving $44.6 billion in crypto between mid-2024 and mid-2025, largely to bypass U.S. sanctions and counter hyperinflation. However, verified Venezuelan government holdings amount to only $22.6 million in BTC, raising doubts about the alleged $56 billion stash.

ambcrypto01/14 05:01

‘Remains to be seen’ if U.S will seize Venezuela’s Bitcoin stash – SEC chair

ambcrypto01/14 05:01

Delphi Digital Outlook: 10 Paradigm Shifts in the Crypto Market by 2026

Delphi Digital's "2026 Outlook" identifies 10 major paradigm shifts for the crypto market. Key trends include the rise of autonomous AI Agents using protocols like x402 and ERC-8004 for trustless transactions. Perp DEXs like Hyperliquid are poised to consolidate traditional finance roles. Prediction markets evolve into critical financial tools for risk management. Ecosystems are reclaiming revenue from stablecoin issuers through models like Ethena's "stablecoin-as-a-service." DeFi overcomes over-collateralization with zkTLS proofs for undercollateralized lending. On-chain FX finds product-market fit in emerging markets. Gold and Bitcoin lead as "debasement trades" amid monetary expansion. Exchanges like Coinbase transform into super-apps. Privacy infrastructure accelerates due to regulatory pressure. Finally, altcoin returns will diverge, with capital flowing to tokens with ETFs, real yield, and proven product-market fit. Crypto is becoming a foundational layer for global finance.

Odaily星球日报01/14 02:48

Delphi Digital Outlook: 10 Paradigm Shifts in the Crypto Market by 2026

Odaily星球日报01/14 02:48

Who Moved the Bank's Cheese? Debunking the Five Myths of Stablecoins 'Sucking Blood' from the Banking Industry

Stablecoins do not harm the banking system; instead, they may increase U.S. bank deposits by boosting global dollar demand, as most demand comes from overseas. They also promote competition, which could pressure bank profits but not necessarily reduce credit availability. Banks, currently highly profitable, can compete by offering higher deposit rates or using excess reserves. Moreover, banks provide only about 20% of U.S. credit, with non-bank lenders likely benefiting from stablecoin-driven efficiency and lower government borrowing costs. Concerns about community banks are misplaced, as large global banks are more exposed to payment competition. Finally, allowing stablecoin yield sharing benefits savers, and restricting it unfairly subsidizes borrowers at the expense of ordinary Americans. The claims against stablecoins are largely unsubstantiated, and the industry needs clear regulation to advance.

marsbit01/14 02:43

Who Moved the Bank's Cheese? Debunking the Five Myths of Stablecoins 'Sucking Blood' from the Banking Industry