Bitcoin Holds Firm Above $100K as Senate Stablecoin Bill Opens Floodgates for Crypto

The Breakdown

Blockworks

Investing, Business

4.8 • 786 Ratings

🗓️ 21 June 2025

⏱️ 23 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this week's Friday Five, NLW and Scott dive into Bitcoin's remarkable stability above $100,000 despite global uncertainty, major bipartisan passage of the Genius stablecoin bill in the Senate, Circle's blockbuster IPO performance, JPMorgan's surprising move onto Coinbase's Base layer, and Elon Musk's continued push toward making X an "everything app." Plus, Fed divisions deepen as rate cuts remain uncertain. Brought to you by: Grayscale offers more than 20 different crypto investment products. Explore the full suite at grayscale.com. Invest in your share of the future. Investing involves risk and possible loss of principal. To learn more, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Grayscale.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ -- ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.grayscale.com//?utm_source=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-thebreakdown)⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Enjoying this content? SUBSCRIBE to the Podcast: https://pod.link/1438693620 Watch on YouTube: https://www.youtube.com/@TheBreakdownBW Subscribe to the newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://blockworks.co/newsletter/thebreakdown⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownBW

Transcript

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0:00.0	Welcome back to The Breakdown with me, NLW.
0:09.3	It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.
0:18.4	What's going on, guys? It is Friday, June 20th, and that means it's time for the Friday
0:22.7	5. Before we get into it, however, if you are enjoying the breakdown, please go subscribe to it,
0:27.2	give it a rating, give it a review, or if you want to dive deeper into the conversation,
0:30.6	come join us on the Breakers Discord. You can find a link of the show notes or go to bit.ly
0:34.5	slash breakdown pod. All right, friends, back today with another Friday
0:39.1	5. Scott and I were joking that this was the first time in a little while now that it actually
0:45.1	felt like one of those slow summer weeks. In general, having done this type of content for a really
0:50.7	long time, there is something of a summer lull. There tends to be a little bit less
0:54.8	news, a little bit less engagement around the news, even in an industry like crypto that is 24-7-365.
1:01.7	However, for the last few weeks, it has been nonstop all the time, and so there has been absolutely
1:06.4	no slowdown of the sort, and this week kind of felt a little calmer. Still, the hilarious thing about
1:11.5	that sentiment is that in this so-called calmer week, we had major stable coin legislation passed in a
1:17.4	bipartisan manner, and a bunch of other stories which a year ago would have been totally
1:21.5	headline news. Anyways, that's enough for me for now. Let's dive into the show and see what
1:26.5	the story was this week.
1:29.3	This is one of those normal summer weeks where there's not any huge stories that are impacting
1:35.9	price, but still worth discussing and unpacking everything that's going on. We're back.
1:42.0	Last week, you were keynoting. We're busy keynoting. Gallivanting around Europe.
1:48.8	I mean, just it's like your priorities are all off. You know, you could have been here talking about
1:53.4	all this important news and you were out keynoting. But I think we'll start here with, that's the wrong
	...

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