Citi, Goldman Sachs, Bank of America and eighteen other of the world’s biggest banks just agreed to build their own stablecoin company, aiming for a dollar token by 2027 and a euro version after that.
Scott explains why the detail that matters most is that these tokens will live on public blockchains instead of a private bank network, and why that quietly erases the advantage Circle and Tether spent years building.
He also covers a lawsuit accusing Tether of freezing $42 million before a warrant existed, two new SEC pushes on tokenized securities and 24-hour trading, OpenAI’s first AI model to cross a critical cyber threshold, and why buying meme coins on a credit card is a terrible idea.
Timestamps
00:00 Cold open: Wall Street’s biggest banks build their own crypto rival
00:24 Welcome to the Daily Wolf
01:09 ADP’s private payroll report: just 38,000 jobs added in August
01:54 Bitcoin trades up despite bond market stress and rate uncertainty
02:18 21 banks and asset managers unveil a joint stablecoin venture
03:44 Public blockchains, not private ones: the detail that matters most
04:42 The stablecoin land grab is erasing Circle and Tether’s moat
06:13 Why every bank on the planet wants a piece of this business
06:59 Tether sued over freezing $42.4 million in USDT before a warrant
09:05 The SEC pushes ahead on transfer agents and 24-hour trading
10:40 Welcome to hell, Wall Street: round-the-clock markets are here
11:01 OpenAI’s Astra becomes the first AI to cross a critical cyber threshold
12:52 How Not To Invest: buying meme coins with a credit card
#DailyWolf #Stablecoin #YahooFinance
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