Senate Crypto Bill Under Discussion, Use of Stablecoins For Payments. | Bloomberg Crypto 5/12/2026

Summary

The episode covers the Senate's crypto market structure bill, its impact on Coinbase and stablecoin rewards, the growth of prediction markets with Kalshi's valuation, WalletConnect's stablecoin usage data, Elliptic's fundraising, Societe Generale's stablecoin expansion, and Dubai's regulatory efforts. Key discussions include the bill's provisions, institutional stablecoin adoption, and the competitive landscape of prediction markets.

• Senate Banking Committee releases text of crypto market structure bill.
• Coinbase VP Kara Calvert discusses the bill's impact on rewards and regulatory clarity.
• Kalshi secures $22 billion valuation, DraftKings invests $300M in prediction markets.
• WalletConnect CEO reports 12 million stablecoin transactions and growing institutional flows.
• Elliptic raises $120M from Deutsche Bank and Nasdaq for on-chain analytics.
• Societe Generale-Forge expands dollar and euro stablecoin offerings.
• Dubai's VARA regulator discusses staying competitive amid U.S. and EU regulatory progress.
• U.S. inflation data and Iran tensions weigh on broader markets, crypto stocks drop.