1/ FraxNet is LIVE 🥳
Welcome to your stablecoin money account. FraxNet is your hub for minting, redeeming, and earning with frxUSD, our flagship stablecoin built to the GENIUS standard. Available on 20+ chains.
JUST IN: @FortuneMagazine just released Fortune Crypto 100: a definitive list of the most influential blockchain companies, built with data analysis from @inca_digital + a survey of leading crypto experts.
The stablecoin ranking includes Frax at #5 👀
Source: experts.bitwiseinvestments.com/cio-memos/what…
¤ Frax take: Frax has been building for this moment for years. We've built the stablecoin operating system for a world that settles onchain.
JUST IN: @Bitwise CIO @Matt_Hougan says advisors are now more interested in stablecoins + tokenization than Bitcoin after meetings with 40+ advisory teams this week.
Translation: right now the market is more excited about digital dollars than digital gold.
JUST IN: Bloomberg says Trump-linked @worldlibertyfi stablecoin $USD1 is on track to generate ~$150M/yr, with most of the supply held on @binance, fueled by promos (fee-free trades, yield, incentives).
NFP SMASHES EXPECTATIONS:
¤ US job growth: 172k vs 85k expected
¤ April was revised up: 115k → 179k
¤ Unemployment: 4.3% (unchanged)
¤ Wages: 0.3% m/m
Bottom line: the labor market is still holding up, which makes rate cuts harder to justify.
¤ Frax Take: Bitcoin holders want to use a scarce asset to get exposure to other scarce assets without selling.
Frax is building toward that world too, where frxUSD can make real estate settlement seamless for crypto holders. More to come:
BREAKING: the first Fannie Mae–insured mortgage backed by $BTC in the US just got funded on Coinbase.
BTC isn’t just being held it’s becoming collateral for the American dream.
The first ever Fannie Mae-insured mortgage backed by BTC in the U.S just got funded.
Originated and serviced by Better, powered by Coinbase.
Rolling out nationwide this summer.
REVOLUT US STABLECOIN LAUNCHING: Reuters says @Revolut plans to offer stablecoins through its upcoming US bank, alongside FDIC-insured accounts, multi-currency deposits, stocks + crypto.
With 75M+ users, it’s another sign stablecoins are becoming default banking rails.
Source: committees.parliament.uk/committee/697/…
The benefits of stablecoins are global. Progressive government officials around the world are quickly realizing they don't want to be left behind.