Berachain proposes PoL v2 proposal to reallocate 33% of PoL rewards allocated to BGT to BERA income module

The Financial Stability Board (FSB) has made the rising influence of stablecoins a top agenda item as it prepares to meet world leaders at the upcoming G20 summit. In a letter addressed to G20 finance ministers and central bank governors, newly appointed FSB Chair and Governor of the Bank of England, Andrew Bailey, emphasized that assessing the growing role of stablecoins in payments and settlements is now a central concern for global financial stability. Bailey Warns Stablecoins May Undermine Financial Trust and Oversight Bailey, who began his term as chair in July, warned that the rapid expansion of stablecoins, digital assets typically pegged to fiat currencies, poses potential risks to monetary trust, credit creation, and financial oversight. “The potential risks and impacts [of stablecoins] are underexplored, in part due to the pace of market developments,” Bailey wrote. “We should continue to ensure that we are implementing our agreed recommendations, monitoring developments in this area, and collaborating across jurisdictions.” The renewed scrutiny follows the FSB’s earlier efforts to regulate stablecoins, starting with its 2021 global framework for monitoring their use. The watchdog has since warned of increased adoption in emerging markets, where stablecoins have become an accessible alternative to volatile local currencies and inefficient banking systems. In response to the spiraling adoption, the FSB said it will expand its work on understanding stablecoin-related risks in these economies. This week’s summit, hosted under South Africa’s G20 presidency, comes at a critical time. The global stablecoin market has settled more than $27.6 trillion in transactions during Q1 2025 alone , doubling Visa’s entire 2023 settlement volume. 💸 Stablecoins settle $27.6 trillion in Q1 2025, doubling Visa’s annual volume, as Ethereum’s infrastructure dominates global digital payments, even amid price turbulence. #Stablecoins #Ethereum https://t.co/LVFclqLGPX — Cryptonews.com (@cryptonews) April 18, 2025 In the U.S., lawmakers recently passed the GENIUS stablecoin bil l, marking a major step toward the formal integration of stablecoins into the mainstream financial system. However, Bailey has voiced concern about the systemic risks of this trend. In a recent interview with The Sunday Times, he argued against the idea of private banks issuing their own stablecoins , stating that such instruments could undermine traditional credit mechanisms and monetary policy control. 🇬🇧 BOE Governor Andrew Bailey has warned that big banks issuing private stablecoins would pose financial stability risks. #BankofEngland #AndrewBailey #Stablecoins https://t.co/9WpwUdkIAV — Cryptonews.com (@cryptonews) July 14, 2025 Instead of supporting stablecoins, Bailey has advocated for the digitization of bank deposits, calling it a safer and more regulated path that preserves central bank oversight. The FSB’s warnings also come against the backdrop of growing geopolitical and financial uncertainty. Bailey’s letter pointed to April’s market volatility as a reminder of the financial system’s vulnerabilities, especially outside traditional banking. He noted the importance of robust surveillance and regulatory coordination, particularly in light of the shift toward non-bank financial intermediation and the emergence of new technologies like stablecoins. Some of the key concerns raised include the potential for stablecoins to erode the “singleness of money,” a term used to describe the unified trust in currency across the economy. Bailey warned that if stablecoins begin circulating outside regulated systems, they could create parallel forms of money, complicating monetary policy and cross-border payments. Ethereum Breaks $3K as GENIUS Stablecoin Bill Nears House Vote—Market Bets on Regulatory Breakthrough Ethereum surged past the $3,000 mark on renewed optimism tied to U.S. legislative momentum around stablecoins, with its price climbing 2.13% in the past 24 hours to $3,028. The move caps off a strong weekly gain of 19%, coinciding with what some analysts say could be a turning point for Ethereum’s role in the global financial system. Bitcoin pumped hard after a bill was passed that aligned with the narrative. Today, the “GENIUS bill” voting is allegedly starting. Ethereum has become the backbone of the stablecoin ecosystem. Are you connecting the dots? pic.twitter.com/Y4xHNIDWas — Crypto Rover (@rovercrc) July 15, 2025 The rally follows growing anticipation around the U.S. House of Representatives’ expected vote on the GENIUS Act , short for Guiding and Establishing National Innovation for U.S. Stablecoins. The bill, which passed the Senate in June with bipartisan backing, seeks to create a formal regulatory framework for stablecoins in the United States. If passed, the GENIUS Act could offer the most comprehensive legal clarity to date for dollar-pegged digital assets, many of which operate on Ethereum. The timing of Ethereum’s breakout has fueled speculation that the market may be pricing in the potential impact of this legislation. Ethereum plays a central role in the stablecoin ecosystem. It hosts the largest share of the total stablecoin supply, accounting for $124.5 billion as of May 6, 2025 . Tether (USDT) leads with $64.7 billion, followed by Circle’s USDC at $37 billion. Other notable tokens on Ethereum include USDe, DAI, and PayPal’s PYUSD. From its early days when Ethereum hosted just $124,000 in stablecoins, the network has grown into the primary base layer for tokenized dollars, driving liquidity across decentralized finance, trading, and on-chain payments. According to data from DeFiLlama and CryptoQuant, the total stablecoin market cap recently surpassed $250 billion , with a $33 billion increase so far in 2025 alone. 🔍 Stablecoin market cap has surged to $228B in 2025, with USDT and USDC driving $33B growth. #Stablecoins #DeFi https://t.co/y68WXWUZM6 — Cryptonews.com (@cryptonews) June 13, 2025 That expansion has brought renewed activity to the Ethereum network. Exchange-held ERC-20 stablecoin reserves now total $50 billion, while USDC’s reserves alone have grown to $8 billion in 2025. As the House prepares to vote on the GENIUS Act during its so-called “ Crypto Week ,” expectations are high. The GENIUS Act’s passage could cement Ethereum’s position at the center of the dollar-based crypto economy.

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