SS #5 - GENIUS Stablecoin Bill Final Vote

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Good Morning.

Welcome to our 5th edition of the StableScope. A new 2x a week, stablecoin-focused newsletter from Launchy. Given the growth of the vertical, there's an increasing demand for more recurring reporting and curation on stablecoins.

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In Today's Edition:

• Headline: GENIUS Stablecoin Bill Final Vote

• Quick Bites: Palmer Lucky’s Stablecoin Bank?

• Yield of the Week: 29.47% APY in USDC on Contango

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HEADLINE

Us Senate’s Final Vote on the GENIUS Stablecoin Bill

State of play: The US Senate is set for a final vote on the GENIUS Act next Tuesday, marking a crucial moment for stablecoin regulation.

• The bill requires stablecoins to be fully backed by USD or liquid assets, with mandatory annual audits for issuers above a $50B market cap.

• After Senate approval, the bill must be reconciled with the House's STABLE Act, addressing differences in state or federal regulation and foreign issuer oversight.

• President Trump has endorsed the legislation, aiming for passage by August.

What’s Next: Following Senate approval, the focus will shift to reconciling differences between the GENIUS Act and the House's STABLE Act, potentially setting new standards for the stablecoin industry.

Why it Matters: This is more than just another crypto bill. It's about setting clear rules of the game that could finally give stablecoins the green light they need to go mainstream.

Our Take: If passed, this bill will realistically expand stablecoin’s TAM to the trillions in the next 3-5 years.

QUICK BITES

• GENIUS Act headed to final vote in US Senate.

• Ark Invest sold $51.7M of Circle shares as it hit an ATH.

• Tether blocks $12.3M in USDT tied to suspicious Tron addresses.

• Founders Fund invested in an ex-Citi banker’s stablecoin startup.

• Coinbase & Gemini near EU crypto license approvals under MiCA.

• Palmer Lucky aims to revive tech banking with a crypto-stablecoin-friendly bank called Erebor.

YIELD OF THE WEEK

Contango PT-syrupUSDC-28AUG2025 / USDC on Morpho: 9.13% - 26.4% in USDC

• Contango enables leveraging PT-syrupUSDC-28AUG2025 as collateral, borrowing USDC up to 9.27x to maximize yield and earn up to 9.3x Contango Points.

• Users can deposit PT-syrupUSDC-28AUG2025, USDC, and syrupUSDC, with a maximum investment of $251k.

• Since its a PT from Pendle, the pool will expired on August 28, 2025.

Contango slvlUSD / USDC on Morpho: 8.27% - 29.47% in USDC

• Contango enables leveraging slvlUSD as collateral, borrowing USDC up to 9.27x to maximize yield and earn up to 9.3x Contango Points and 27.8x Lent Points.

• Users can deposit various assets if slvlUSD isn't available, but the primary trading pair is slvlUSD/USDC, with a maximum investment of $3.5 million.

• Currently, slvlUSD offers an APY of 8.27%.

YieldFi yUSD: 11.74% APY

• yUSD is a yield-bearing token that allows users to earn rewards by depositing various stablecoins and Pendle’s PT to mint yUSD.

• In addition to the APY, users can earn points from various protocols, including TAC, Sonic, Napier, and Resolv.

• Currently, the fee for minting and redeeming yUSD is set at 0%.

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Disclaimer: All the information presented in this publication and its affiliates is strictly for educational purposes only. It should not be construed or taken as financial, legal, investment, or any other form of advice.