{"id":19167,"date":"2025-03-26T13:31:41","date_gmt":"2025-03-26T13:31:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=19167"},"modified":"2025-03-26T13:31:41","modified_gmt":"2025-03-26T13:31:41","slug":"first-us-bank-stablecoin-sec-talks-fuel-crypto-momentum-could-this-help-best-wallet-token","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=19167","title":{"rendered":"First US Bank Stablecoin & SEC Talks Fuel Crypto Momentum \u2013 Could This Help Best Wallet Token?"},"content":{"rendered":"
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The good news just seems to keep on coming for crypto. Two US banks \u2013 Custodia and Vantage \u2013 have teamed up to produce \u2018America\u2019s first-ever bank-issued stablecoin\u2019 called Avit, and this first US bank stablecoin could prove to be good news for other coins like Best Wallet Token.<\/p>\n

One person who won\u2019t be happy though is President Trump, who earlier announced plans for his own US dollar-pegged stablecoin, $USD1.<\/p>\n

With two other US dollar stablecoins in existence \u2013 $USDC and $USDT \u2013 is the market at risk of getting flooded with too many of these US dollar cryptocoins?<\/p>\n

Too Many US Dollar-Pegged Stablecoins, Too Few Users?<\/h2>\n

There may be a risk that we\u2019re going to have far too many US dollar-pegged stablecoins out there, and not enough adoption to sustain them. Two of them \u2013 $USDT and $USDC \u2013 are not bank-issued but they\u2019re still popular and regularly used.<\/p>\n

In February 2024, Tether (the company behind USDT) announced profits of $13B<\/a>, and Circle (the company behind USDC) said their profits had topped $1.6B. However, since they\u2019re not public companies required to open their books, we have to take their word for it.<\/p>\n

So where does that leave the two scrappy incoming tokens, $USD1 and Avit? Will there be space for them to compete? Will President Trump\u2019s backing be enough for $USD1 to muscle its way in?<\/p>\n

\"Avit<\/p>\n

One thing is for sure \u2013 Avit\u2019s adoption as an ERC-20 token on the Ethereum blockchain has $ETH fans cheering \u2013 and Custodia CEO Caitlin Long crowing<\/a>. However, Long went to great pains to push back on the Fed Governor\u2019s remarks that \u2018stablecoins are synthetic dollars.\u2019 Long begged to differ<\/a>.<\/p>\n

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Gov Waller is right\u2013to date, every stablecoin issued in crypto is a \u201csynthetic dollar\u201d \u2013 but what Custodia Bank issued yesterday is a \u201creal dollar\u201d precisely because it was issued by a bank authorized to take deposits. We tokenized a bank\u2019s \u2018demand deposit\u2019 & that\u2019s different.<\/p>\n<\/blockquote>\n

By bringing out Avit on the Ethereum blockchain, Custodia showed a big shift in their thinking. In the past, they\u2019ve always championed Bitcoin. Choosing to bring out Avit as an ERC-20 token on Ethereum did not go unnoticed, including Ethereum advocate Evan Van Ness who was blunt.<\/p>\n

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ETH fixed this. Bitcoin couldn\u2019t.<\/p>\n<\/blockquote>\n

If Avit truly takes off, this would consolidate Ethereum as the GOAT in the room \u2013 and leave all other blockchains in the dust.<\/p>\n

SEC Roundtables Discuss More Crypto Adoption Plans<\/h2>\n

The new Marvel-sounding SEC Crypto Task Force is planning 4 more crypto roundtables on the subjects of trading, custody, tokenization, and DeFi. With the first one on April 11th, the public are invited to attend in person or online. Get your popcorn and beer ready.<\/p>\n

The Crypto Task Force \u2013 launched one day after President Trump took office \u2013 has been told to come up with a workable crypto framework. This has involved abandoning long-running lawsuits<\/a> against crypto companies and relaxing the rules in general towards crypto adoption.<\/p>\n

This new SEC-crypto bromance is widely expected to be extremely beneficial for new crypto<\/a> \u2013 such as meme coins<\/a> \u2013 currently in presale, such as Best Wallet Token ($BEST).<\/p>\n

Their plans align with what Custodia and Vantage are trying to do \u2013 bring crypto into the mainstream and make it a default form of payment.<\/p>\n

Best Wallet Token ($BEST) \u2013 Invest In a Wallet For Online & Offline Payments<\/h2>\n

Best Wallet Token ($BEST)<\/a> is shaping up as one of the best presales of 2025<\/a>, having raised more than $11.5M so far. It\u2019s the native token of Best Wallet<\/a>, and holders of $BEST will get exclusive benefits which won\u2019t be available to the rest of the unwashed masses.<\/p>\n

\"Best<\/p>\n

These benefits include cheaper transaction fees, higher staking rewards, governance and voting rights to influence the Best Wallet token, and early access to new projects. Although those \u2018new projects\u2019 have not been specified yet.<\/p>\n

The current token price \u2013 which is set to increase today \u2013 is $0.024475 and the staking APY is 137%.<\/p>\n

The bigger picture though is the Best Wallet itself.<\/p>\n

Like the first US bank stablecoin, Best Wallet wants crypto payments to be something that people do by default. To that end, they want to introduce the BEST debit card, which will enable users to pay for online and offline purchases using their Best wallet balance.<\/p>\n

Cash could become a thing of the past.<\/p>\n

Do Your Crypto Research!<\/h2>\n

We end with our usual disclaimers. All of this talk about the best altcoins<\/a> is obviously very motivating. But nobody can predict the future. Therefore, you\u2019re going into uncertain territory when you invest in crypto.<\/p>\n

Therefore, don\u2019t take anybody\u2019s word for it \u2013 do your own independent research, consult lots of credible sources (your uncle Chad doesn\u2019t count), and make your own decisions. Plus the most important rule of all \u2013 don\u2019t invest what you can\u2019t afford to lose. That includes the kid\u2019s college fund and your spouse\u2019s 401K.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The good news just seems to keep on coming for crypto. Two US banks \u2013 Custodia and Vantage \u2013 have teamed up to produce \u2018America\u2019s first-ever bank-issued stablecoin\u2019 called Avit, and this first US bank stablecoin could prove to be good news for other coins like Best Wallet Token. One person who won\u2019t be happy […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-19167","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/19167","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19167"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/19167\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19167"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19167"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19167"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}