Goldman Sachs Predicts Stablecoin Gold Rush Driving Treasury Demand as Kanye West’s YZY Token Peaks at $3.16B Before Crashing 70%

Goldman Sachs and U.S. Treasury Secretary Bessent Predict Stablecoin Gold Rush Driving Trillions in Payments and New Treasury Demand

Goldman Sachs and U.S. Treasury Secretary Scott Bessent see a coming “stablecoin gold rush,” fueled by the GENIUS Act and new regulations that could transform stablecoins into a multitrillion-dollar industry. Stablecoins, backed 1-to-1 with dollars or Treasuries, are expected to increase demand for U.S. government bonds, especially short-term debt. Goldman projects USDC alone could grow 40% annually through 2027, while the broader market could tap into trillions in global payment flows beyond crypto trading. However, skepticism remains: UBS argues that stablecoins merely recycle money into Treasuries rather than create new demand. BIS research suggests inflows into stablecoins can lower short-term yields, but outflows amplify risks by raising them disproportionately.

China Weighs Approval of Yuan-Backed Stablecoins to Counter Dollar Dominance and Boost Global Currency Role

China is weighing approval of yuan-backed stablecoins in a major reversal of its 2021 crypto ban, aiming to boost the currency’s global role and counter the dominance of U.S. dollar-pegged stablecoins. The State Council will review a roadmap later this month that sets adoption targets, regulatory responsibilities, and risk guidelines. Senior leadership is expected to deliver policy direction at an upcoming study session on yuan internationalisation and stablecoins. If approved, Hong Kong and Shanghai will spearhead implementation, with potential expansion into cross-border trade discussions at the upcoming SCO Summit. The move comes as dollar-backed stablecoins dominate 99% of the market and China’s yuan share in global payments has slipped to 2.88%.

Winklevoss Twins Donate $21.5 Million in Bitcoin to Launch Pro-Trump Crypto PAC Targeting Democrats in 2026 Midterms

Cameron and Tyler Winklevoss have launched the Digital Freedom Fund, a pro-crypto PAC aimed at defeating Democrats and supporting Republicans in the 2026 midterms. The Gemini co-founders donated 188.45 BTC, worth about $21.5 million, to kick-start the initiative, explicitly framing it as an effort to advance Donald Trump’s crypto agenda. Unlike other crypto PACs such as Fairshake, which have sought to remain bipartisan, the twins are openly partisan, pledging to back candidates aligned with Trump and push for a light-touch regulatory framework, a CBDC ban, and legal protections for developers. The move underscores a sharp political alignment within the crypto industry as Trump allies, including Tether’s newly appointed advisor Bo Hines, consolidate influence ahead of 2026.

Nasdaq to Delist Windtree Therapeutics After 99% Stock Collapse Despite $500 Million BNB Treasury Bet

Nasdaq will delist Windtree Therapeutics (WINT) on August 21 after the company failed to maintain the minimum $1 share price required under Nasdaq rules. Windtree’s stock has collapsed over 99% this year, closing at $0.11 after plunging more than 90% in the past month. Once a biotech firm, Windtree pivoted into the digital asset treasury space, securing a $500 million equity line and investing heavily in BNB tokens. Despite this move, the company has struggled to maintain market confidence, echoing challenges faced by other crypto treasury firms like Sharplink. Nasdaq recently delisted bitcoin miner Argo for similar noncompliance.

Kanye West’s Solana Token YZY Peaks at $3.16 Billion Before Crashing Over 70% Below $1 Billion

Kanye West has officially entered crypto with the launch of YZY, a Solana-based token unveiled on his verified X account. The debut drove a buying frenzy that pushed YZY’s market cap to a peak of $3.16 billion within an hour, before crashing more than 70% to under $1 billion. The token was rapidly listed on CoinMarketCap, Bitget, and Poloniex, while Solana DEX trading volumes spiked, making it one of the largest celebrity-backed tokens to launch, eclipsing TRUMP and MOTHER. Despite a 375% gain over 24 hours, YZY’s sharp drop to around $0.99 underscores the fragility of hype-driven projects.