Stablecoins could top $2 trillion by 2028, says Treasury Secretary Bessent as US moves to regulate sector

  • The US stablecoins market represents 96% of the global $247 billion market.
  • The GENIUS Act cleared a key hurdle this week after passing a cloture vote in the US Senate.
  • Bessent told senators that stablecoins represent a “new mechanism” to reinforce the US dollar’s global position.

The US stablecoin market is heading for a regulatory overhaul that could drive its market size to more than $2 trillion by 2028, according to Treasury Secretary Scott Bessent.

His comments came during a Senate hearing on Wednesday as lawmakers advanced the bipartisan GENIUS Act, aimed at introducing strict guardrails for stablecoin issuers.

Bessent stated that regulation tied to US treasuries could significantly boost global usage of dollar-backed stablecoins and maintain American monetary leadership in an increasingly decentralised financial system.

GENIUS Act gains momentum in Senate

The GENIUS Act cleared a key hurdle this week after passing a cloture vote in the US Senate, signalling broad political support for introducing federal oversight of stablecoins.

The legislation, seen as pivotal in anchoring stablecoins to the existing financial framework, mandates full backing by US dollars or similarly liquid assets.

It also imposes annual audits for issuers whose market capitalisation exceeds $50 billion.

The bill contains specific clauses to oversee the activities of foreign-issued stablecoins within the US, underscoring concerns about monetary sovereignty and potential exposure to systemic risks.

It comes at a time when the US stablecoin market, valued at approximately $247 billion, accounts for over 96% of the global total.

President Donald Trump has reportedly endorsed the bill and is pushing to have it signed into law before the summer recess.

This aligns with the administration’s broader aim to secure the dollar’s role as the dominant reserve currency, particularly in the face of rising geopolitical competition and emerging alternatives to the greenback.

Treasury predicts long-term impact on dollar usage

Bessent told senators that stablecoins represent a “new mechanism” to reinforce the US dollar’s global position, particularly in cross-border trade and decentralised finance (DeFi).

He said the $2 trillion forecast was “very reasonable”, especially if regulation drives wider institutional adoption and trust.

His remarks follow ongoing warnings from economists about challenges to the dollar’s dominance, especially from Chinese-backed central bank digital currencies (CBDCs) and other tokenised alternatives.

However, Bessent noted that historically, the dollar has retained its reserve status by adapting to new financial architectures—a trend he expects will continue through the integration of regulated stablecoins.

He emphasised that “stablecoins backed by US treasuries will serve as the next pillar of dollar strength”, calling on lawmakers to act quickly so the US can lead in shaping this emerging market.

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Bitcoin Pepe price outlook as Swedish firms plans major BTC acquisition

  • Bitcoin’s expanding institutional adoption continues to anchor sentiment across the broader crypto market.
  • Bitcoin Pepe’s presale has raised more than $14.1 million.
  • The BPEP token is currently priced at 0.0416.

The global cryptocurrency market capitalisation fell 1.77% over the past 24 hours to $3.39 trillion, marking a technical pullback from recent highs that had acted as resistance.

The decline was likely driven by renewed geopolitical tensions in the Middle East, which weighed on broader risk assets.

However, the retreat is being seen as a temporary pause rather than a shift in trend.

Even as the broader crypto market cools following a strong rally, institutional adoption continues to deepen, with an increasing number of firms expanding their exposure to digital assets.

This trend is reinforcing Bitcoin’s status as a mature, institutional-grade asset — but also diminishing its appeal among investors seeking outsized, asymmetric returns.

As a result, early-stage tokens like Bitcoin Pepe are attracting renewed interest from risk-tolerant capital.

Improving sentiment across the crypto landscape is driving traders to pivot toward more speculative segments of the market.

In this environment, high-volatility assets such as Bitcoin Pepe are emerging as key beneficiaries of the shifting investor appetite.

Swedish firm raises funds to buy Bitcoin

Shares of Swedish health tech firm H100 Group AB surged 45% on Wednesday after the company announced it had raised 101 million Swedish krona ($10.6 million) to accelerate its Bitcoin treasury strategy.

H100 traded at 4.64 krona ($0.49) on the Nordic Growth Market, bringing its share price gain to 280% since it unveiled its Bitcoin strategy on May 22, according to MarketWatch data.

The latest capital raise significantly exceeds the firm’s previous $2.2 million funding round led by Bitcoin advocate and cypherpunk Adam Back on May 25.

The move underscores a growing trend among publicly listed companies globally that are adding Bitcoin to their balance sheets.

According to data from BitcoinTreasuries.NET, 126 corporate entities have now allocated Bitcoin, with 14 new firms joining in just the past three weeks.

Bitcoin Pepe is riding the broader bullish momentum

Bitcoin’s expanding institutional adoption continues to anchor sentiment across the broader crypto market.

At the same time, investor attention is rotating back to speculative corners of the ecosystem, with meme coins witnessing a renewed influx of capital.

Among the more prominent names is Bitcoin Pepe, which has set itself apart from typical meme tokens by combining viral appeal with infrastructure-level ambition.

Billed as an attempt to “build Solana on Bitcoin,” the project seeks to fuse Bitcoin’s base-layer security with Solana-style scalability.

As one of 2025’s most closely watched crypto presales, Bitcoin Pepe has raised more than $14.1 million ahead of a planned listing announcement on June 17.

Backed by a detailed technical roadmap, the team has also secured partnerships with Super Meme, Catamoto, and Plena Finance to broaden its Layer 2 ecosystem.

With speculative capital continuing to target early-stage opportunities, Bitcoin Pepe is looking to capture further momentum as it approaches the end of its token sale.

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Best crypto presales to buy as GameStop may be planning another massive BTC purchase

  • Top-tier cryptos are becoming less appealing to investors looking for outsized returns.
  • This shift is fueling renewed interest in early-stage tokens like Bitcoin Pepe.
  • Bitcoin Pepe’s presale has raised over $14.1 million. The BPEP token is priced at 0.416.

Bitcoin held firm above the $107,000 level on Thursday, trading at $107,651.49, though early signs of profit-taking across major tokens suggested a possible pause in recent momentum.

Among large-cap tokens, XRP ($2.24), BNB ($667.21), Solana ($158.86), and Cardano ($0.6897) slipped as much as 3%.

Ether, which had outperformed Bitcoin last week on strong ETF inflows and bullish derivatives activity, retreated to $2,754.34 after briefly crossing $2,800.

Several tokens are now hovering near local resistance levels, prompting some traders to lock in gains.

Despite the near-term pullback, sentiment remains broadly constructive.

Institutional adoption continues to underpin the rally, with a growing number of firms seeking to deepen their exposure to digital assets.

With market volatility declining and institutional participation on the rise, top-tier cryptocurrencies are becoming less appealing to investors targeting outsized, asymmetric returns.

This shift is fueling renewed interest in early-stage tokens, such as Bitcoin Pepe, which are attracting risk-seeking capital as sentiment across the cryptocurrency landscape improves.

As traders pivot toward more speculative segments of the market, high-volatility assets such as Bitcoin Pepe are emerging as notable beneficiaries of the current momentum.

GameStop planning another BTC purchase?

GameStop is moving to raise nearly $2 billion through a debt offering following its underwhelming financial performance in the first quarter of 2025.

In a press release issued Thursday, the video game retailer said it will offer $1.75 billion in convertible senior notes through a private placement to qualified institutional buyers, with an option to issue an additional $250 million in notes within 13 days of the initial sale.

The convertible notes, which are set to mature in mid-2032, will not carry regular interest payments.

GameStop said the proceeds will be used for general corporate purposes, including investments aligned with its existing investment policy and potential acquisitions.

The announcement comes shortly after GameStop disclosed the purchase of 4,710 Bitcoin, prompting speculation that the new capital could support further cryptocurrency-related moves.

While the company has not directly linked the fundraising to its Bitcoin strategy, the timing has drawn attention.

“GameStop intends to use the net proceeds from the offering for general corporate purposes, including making investments in a manner consistent with GameStop’s Investment Policy and potential acquisitions,” the company said in its filing.

Bitcoin Pepe looks to ride the crypto wave

As Bitcoin consolidates amid short-term volatility, its growing institutional adoption continues to anchor broader market sentiment.

In parallel, investor focus is once again shifting to speculative corners of the crypto landscape, particularly meme coins, which are seeing a resurgence in inflows.

Among the standout names is Bitcoin Pepe, which has distinguished itself from typical meme tokens by pairing viral appeal with infrastructure-driven ambition.

Framed as an effort to “build Solana on Bitcoin,” the project aims to merge Bitcoin’s network security with the scalability features commonly associated with Solana.

Touted as one of the most closely watched crypto presales of 2025, Bitcoin Pepe has raised over $14.1 million ahead of a planned listing announcement on June 17.

The team has also outlined a detailed technical roadmap and announced partnerships with Super Meme, Catamoto, and Plena Finance to expand its Layer 2 ecosystem.

With early-stage capital continuing to flow toward early-stage plays, Bitcoin Pepe is positioning itself to capture this momentum as it nears the conclusion of its token sale.

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