The Daily: Bank of America’s $6T stablecoin warning, BitMine’s $200M MrBeast investment, X’s InfoFi policy change hits Kaito token, and more
Bank of America warned $6T in deposits could shift to stablecoins, BitMine invested $200M in MrBeast's firm, and X's policy change impacted the Kaito token.Summary
The daily crypto briefing highlights several key developments. Bank of America CEO Brian Moynihan warned that up to $6 trillion in U.S. commercial bank deposits could migrate to stablecoins if they are permitted to pay interest, arguing they function like money market funds rather than recycling deposits into loans. In major investments, Ethereum treasury firm BitMine agreed to invest $200 million in MrBeast's Beast Industries, a strategic move targeting Gen Z reach. Furthermore, U.S. spot Bitcoin ETFs saw strong momentum, logging $1.7 billion in inflows over a three-day streak. In regulatory news, the Senate Banking Committee postponed a markup after Coinbase withdrew support for a crypto market structure bill. Finally, X (formerly Twitter) revised its API policies to ban InfoFi apps rewarding users for posting, causing the Kaito token to drop about 15%. JPMorgan analysts project crypto inflows could reach a record $130 billion in 2025, driven by institutions, with further growth expected in 2026.
(Source：The Block)