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Monday, July 12, 2021 by Robinhood Snacks | Disclosures

Big week for stablecoins... Stablecoin = a type of cryptocurrency whose value is tied to an asset like the dollar or gold. USD Coin, one of Earth's largest dollar-pegged stablecoins, made headlines last week. Visa said it'll allow cardholders to pay with USD Coin at 70M merchants worldwide. Merchants will get paid in fiat (aka: regular) currency. Meanwhile, Circle — the firm that operates USD Coin — is going public via SPAC at a $4.5B valuation. While crypto mainstream-ification is advancing, regulator scrutiny of the crypto market is also heating up.

Feeling the pushback... Big business in the US. On Friday, President Biden signed an exec order to curb the dominance of companies in industries including shipping, agriculture, healthcare, and tech. The goal: promote competitive markets and limit corporate dominance in everything from railroads to prescription drugs. It's part of a broader effort to confront consolidation and perceived anti-competitive pricing in big industries — and it has big companies on edge.