ECB official says stablecoins risk importing old market flaws

U.S. Congress reconvenes this week as GENIUS Act stablecoin comment periods close, marking critical deadlines for federal framework implementation. Banks continue lobbying to slow rollout amid yield-bearing stablecoin disputes. Stablecoin circulation hit $322 billion in May. Key macro events include U.S. jobs data Friday and Senate floor discussions on consolidated crypto legislation targeting August passage. Ethereum's Glamsterdam upgrade arrives Q3.

Cardano's 2026 Summit was canceled after its funding proposal failed to secure the required two-thirds community vote under the blockchain's new Voltaire governance system. The Foundation's treasury request won majority backing from delegated representatives but fell short of the supermajority threshold. Meanwhile, EMURGO's separate 3.3 million ADA proposal for TOKEN2049 Singapore passed, demonstrating Cardano's decentralized decision-making in action.

The preferred stock remains near its $100 par value as the company balances yield stability, ATM issuance capacity, and its bitcoin acquisition strategy....