Rob Hadick Warns Tether and Circle Face Rising Pressure From New Stablecoins
Dragonfly General Partner Rob Hadick believes stablecoins are entering a new phase. While USDT and USDC remain dominant today, he argues tha...
Morning market briefing
Bitcoin’s sub-$60,000 selloff, stablecoin competition and sanctions-evasion headlines set the early tone as macro diplomacy and World Cup crypto tie-ins crowd the tape.
Dragonfly General Partner Rob Hadick believes stablecoins are entering a new phase. While USDT and USDC remain dominant today, he argues tha...
Executive scan
The morning desk opens with stress visible in majors: two CryptoGazette items say Bitcoin’s fall below $60,000 has pushed more than half of circulating supply into loss, with one framing it as the worst week since the FTX collapse. Tether also drew attention after briefly overtaking Ether by market value, while coverage around USDT and USDC focused on pressure from new stablecoin entrants.
Stablecoins are the clearest thematic cluster. Dragonfly’s Rob Hadick sees banks and fintechs challenging incumbent issuers, while Rain data points to $1.5 trillion in Latin American stablecoin transactions tied to practical use cases. Elsewhere, traders have geopolitics on the screen: Qatar-led US-Iran talks, UK action against a Russian shadow-fleet vessel tied in coverage to crypto sanctions evasion, and Abu Dhabi airport crypto payments add policy and adoption angles.
Market read
Watch next
Main signals
The potential US-Iran agreement could reshape global markets, impacting energy, trade, and crypto sectors, while testing diplomati...
The integration of crypto payments at Abu Dhabi airports signals a strategic shift towards mainstream digital currency adoption in...
The interception of Russia's shadow fleet highlights the evolving complexity of sanctions evasion, underscoring crypto's role in g...
Crypto's integration into the World Cup could drive mainstream adoption, but may also lead to volatile market dynamics and specula...
Bitcoin's drop below $60,000 leaves half of supply in loss, while Tether briefly overtakes Ether in a reality check for crypto mar...
Ancelotti's debut highlights challenges of foreign leadership in Brazil, while FIFA's blockchain ventures could reshape fan engage...
Neymar's dual role highlights the volatility of sports-crypto ventures, underscoring the risks for investors in athlete-linked dig...
The crypto card company stressed that these volumes result from a more conscious use of stablecoins, driven by concrete problem-so...
Market watch
Early market attention sits on Bitcoin loss metrics, stablecoin market share, and whether sports-linked crypto flows become noisy around the World Cup.
Policy and risk
Policy risk is concentrated in sanctions enforcement, US-Iran negotiations, and the widening role of regulated firms in stablecoin issuance.
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