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SpaceX and Tesla explore merger that would unite more than 30,000 bitcoin
On last night’s earnings call for SpaceX (SPCX), Musk stated that his two publicly traded companies are exploring a potential merger. A combination would unite SpaceX’s reported 18,712 BTC and Tesla’s 11,509 BTC, for a total of 30,221 BTC, and placing it squarely at #6 on the corporate treasuries list.
Money for an Economy that Doesn’t Close
A new study between The Block and Coinbase found that stablecoins now move over $400 million per hour, with 73% of the volume settling outside US banking hours. Some other interesting stats from the report:
Sending a $200 remittance in USDC on Base is ~86% cheaper than on traditional rails.
Seven of the ten largest US banks have tested stablecoins, with the remaining three signaling plans to follow.
293M addresses hold stablecoins, topping the combined American Express and Discover cardholder base.
OCC Finalizes GENIUS Act Rules
Federal banking regulator OCC has finalized its GENIUS Act rules, dropping a proposal that would have made certain stablecoin rewards arrangements harder to offer. The law still bans issuers from paying holders interest, but rewards offered through exchanges and other third parties will be assessed case by case. Banks had long pushed for tighter restrictions, arguing those rewards could pull deposits away from bank accounts – but the final rule leaves that fight unresolved. Issuers also get more flexibility in managing their reserves, while still having to maintain at least $1 in backing for every $1 of stablecoins outstanding. The rules take effect January 18, 2027. Read more →
This AI Infrastructure Company Just Unveiled $381M in Deals (From Tomorrow Investor)
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