“Bye Bye Circle” Arthur Hayes Says As Big Banks Explore Joint Stablecoin Venture

With the stablecoin bill aka GENIUS Act set to pass through the US Senate, Wall Street banking giants have started exploring a joint stablecoin venture, which could pose a major threat to dominant market players like Circle (USDC), and Tether (USDT), believes crypto market veteran Arthur Hayes. Citing this development, Hayes wrote: “Bye bye Circle. Thanks for playing”.