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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
Circle has donated $1 million USDC to President-elect Donald Trump's Inauguration Committee, marking a significant moment for stablecoins, which have a market cap of $203 billion. Industry leaders anticipate pro-crypto legislation under Trump's administration, with ongoing efforts to establish a regulatory framework for stablecoins, including the Lummis-Gillibrand Payment Stablecoin Act. Venture capitalists are increasingly focusing on stablecoins, predicting a market cap of $300 billion by 2025, particularly in emerging markets.
Ethena is set to launch iUSDe, a synthetic dollar product, in February 2025, targeting traditional finance (TradFi) institutions. The initiative aims to collaborate with distribution partners to enhance accessibility for asset managers and private investment trusts, leveraging a yield-bearing model that could significantly disrupt the $190 trillion fixed-income market. Ethena has rapidly gained traction, becoming the second-fastest protocol to reach $100 million in revenue, with its synthetic dollar attracting over $5.85 billion in investments.
Ethena Labs has launched USDtb, a stablecoin backed by BlackRock's BUIDL, maintaining 90% of its reserves in the fund. Operating independently from USDe, USDtb is available on Ethereum mainnet, Base, Solana, and Arbitrum, and aims to provide users with a different risk profile while stabilizing USDe during bearish market conditions. Ethena has attracted nearly $6 billion in user funds since early 2024, and its governance token, ENA, recently saw a significant rally following a major purchase.
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