Australia’s financial landscape is on the cusp of a major transformation as the Reserve Bank is exploring the possibilities of CBDCs and stablecoins. Pushing forward with Project Acacia, Australia’s central bank is examining the potential applications of digital currencies in wholesale finance. Will Project Acacia be a game-changer for the country’s monetary system? Australia Explores
After passing the final House vote on Thursday, the GENIUS Act was enacted into law by President Donald Trump on Friday, July 18. The signing into law of the Genius Act was witnessed at the White House by top crypto leaders, including Tether (USDT) CEO Paolo Ardoino and Coinbase Global Inc. (NASDAQ: COIN) CEO Brian Armstrong.
The landmark crypto legislation will foster the development and adoption of stablecoins in the United States and globally. According to President Trump, during the signing ceremony, the GENIUS Act is a major milestone for the financial industry.
“This could be perhaps the greatest revolution in financial technology since the birth of the internet itself. A lot of people are saying that,” Trump said. “What do you guys think? If you say yes, I’m saying yes.”
What’s Next for Crypto Under the GENIUS Act
The GENIUS Act was created to regulate the stablecoin market, which has grown to more than $264 billion in net valuation at the time of this writing. The clear regulatory framework for the stablecoin market will help attract more institutional investors into blockchain technology and the wider crypto space.
“This clear direction from Congress also should serve as a catalyst for the SEC to provide guidance on how SEC registrants can use—and accommodate their customers’ use of—payment stablecoins. I invite investors and market participants regulated by the SEC to engage with the Crypto Task Force on what the Commission needs to do, in light of the GENIUS Act,” SEC Commissioner Hester Peirce, noted.
The mainstream adoption of crypto assets, through the stablecoin market, will play a crucial role in the ongoing bull rally. Furthermore, the stablecoin market is a major source of liquidity in the crypto space.
The post President Donald Trump Officially Signs The GENIUS Act Into Law: What’s Next for Crypto? appeared first on Coinpedia Fintech News
After passing the final House vote on Thursday, the GENIUS Act was enacted into law by President Donald Trump on Friday, July 18. The signing into law of the Genius Act was witnessed at the White House by top crypto leaders, including Tether (USDT) CEO Paolo Ardoino and Coinbase Global Inc. (NASDAQ: COIN) CEO Brian …
After a steep fall to $0.40 earlier this week, the Pi Network price bounced back to $0.60 levels, with its market cap above $4.1 billion. However, on-chain data shows that investors’ interest in the Pi Coin is waning quickly, with daily trading volumes dropping another 44% to $158 million. Analysts point out that the increasing supply of PI tokens at the exchanges can further dampen the upside and could put the ecosystem growth in the shadows.
Why Is Pi Network Investor Sentiment Down
Pi Network community member Edycabas recently shared his take on the collapse of transaction activity on the blockchain. He noted that the Pi blockchain is underwhelming, reportedly processing less than one transaction per second, despite years of promotion suggesting thousands of transactions per block during its Open Mainnet phase.
Source: Edycabas
Responding to this, another community member, Dr Altcoin, noted that the blockchain itself remains operationally robust, boasting a 99.5% transaction success rate and averaging 20 transactions per block. “The real issue lies in transparency concerns surrounding the co-founders, which continue to deter major investors and centralized exchanges (CEXs),” he said.
Besides, Dr Altcoin also shared aspirations for the Pi Network price to reach a minimum token value of $10, which, as per the analyst, would significantly boost engagement with decentralized applications (DApps) and broader adoption. Dr Altcoin has also previously suggested for Pi token burns to boost the Pi Coin price higher.
Pi Coin Core Team Lacks Transparency
Dr. Altcoin has also questioned the Pi Network co-founders’ reluctance to engage publicly, urging them to address the community and investors. “Why do the co-founders avoid interviews?” Dr. Altcoin asked, adding that the “Pi Community has kept this project alive for years, and it deserves greater recognition”.
Dr. Altcoin stressed that co-founders Nicolas Kokkalis and Chengdiao Fan must step up to showcase the project’s potential to prevent the token from declining further, warning of a possible Pi Coin price dip below $0.30 in the coming week.
Crypto analyst Dr. Altcoin has issued a statement predicting significant activity on centralized exchanges (CEXs) as unlocked Pi tokens flood the market. Starting next week, an average of 134 million Pi tokens will reportedly enter circulation monthly.
Arkham Intelligence has unveiled a new feature allowing users to track the wallets of Key Opinion Leaders (KOLs) on X (formerly Twitter).
This development comes amid a flurry of new meme coins, capitalizing on token launchpads for easy launches.
New Arkham Feature Lets Users Track Influencers’ Token Holdings
The update, announced in a recent post, introduces the “Key Opinion Leader (KOL) Label.” It tracks the wallets of influencers with over 100,000 followers on X.
“Influencers with more than 100K+ followers on Twitter/X are now tagged on Arkham with a new label: Key Opinion Leader,” read the announcement.
This means investors can monitor whether influencers genuinely back the tokens they promote or if their endorsements are merely paid advertising. The move has sparked widespread debate within the crypto community, particularly concerning its impact on influencer-endorsed meme coins.
“Biggest scammer on top! Now everyone can watch your wallets. But they should know y’all have multiple ones,” one user wrote.
The introduction of Arkham’s KOL Label comes amid increasing concerns over the reliability of influencer-backed tokens. A recent report revealed that 76% of influencer-endorsed tokens fail to deliver.
Specifically, their value plummeted by more than 90% within just three months.
As BeInCrypto reported, the research suggested earning up to $399 per promotional tweet, incentivizing certain influencers to prioritize financial gain over credibility.
It also showed that many promoted tokens lack fundamental utility and community engagement, leading to inevitable crashes.
“Influencers with over 200,000 followers tend to have the worst performance. The larger the influencer’s following, the lower the performance of the meme coins they promote,” the report claims.
Success Rate of Influencer Predictions based on Followership. Source: CoinWire Research
With Arkham’s new tracking feature, investors can now scrutinize whether influencers hold the tokens they endorse. This could provide greater transparency in an industry plagued by misinformation and deceptive marketing tactics.
“Interesting move—transparency meets influence,” a user on X remarked.
The pattern mirrors previous crypto fads, where early investors profit while latecomers bear the brunt of financial losses. Arkham’s new tool could expose questionable practices, distinguishing genuine endorsements from misleading promotions.
By tracking influencers’ wallet activities, users can identify whether influencers hold the tokens they promote, indicating a true conviction. They could also spot red flags, such as influencers dumping tokens shortly after promoting them.
Experts, including Tron founder Justin Sun, emphasize the importance of fundamentals, tokenomics, and risk management for investors within the volatile meme coin market.
“I will check on the real social engagement. Are those likes real, or it’s just general bullshit? Do they have lots of influence, and the people really believe them? Also, I will see the founders, see their material, and see the memes they made and the videos they made. I will see if this is the right video and the right social engagement,” Sun elaborated.
These approaches reflect the importance of caution and due diligence instead of relying solely on influencer endorsement.
