Is crypto growing up? Tether risk, Stripe’s stablecoin play, and the GENIUS Act explained

Equity

TechCrunch

Business, News, Technology, Business News, Entrepreneurship

4.2 • 372 Ratings

🗓️ 25 February 2026

⏱️ 33 minutes

🔗️ Recording | iTunes | RSS

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Summary

Crypto is creeping back into the startup conversation, but at ETH Denver last week, the buzz was as much about Washington as it was about tokens. Policy shifts are rippling through the market as Tether and stablecoins face scrutiny, players like Stripe re-enter the chat, and startups either find traction or flame out. The hype cycle is over, or at least taking a break. So what comes next? On this episode of TechCrunch's Equity podcast, Rebecca Bellan sits down with Jacquelyn Melinek, CEO of Token Relations and host of the Talking Tokens and Crypto in America podcasts, to make sense of how the market has changed and what in the world of crypto is built to last. Listen to the full episode to hear about: Why ETHDenver fell flat despite a strong speaker lineup, and what it signals about crypto’s shifting hubs. What White House crypto adviser Patrick Witt and SEC Commissioner Hester Peirce are actually pushing for with The GENIUS Act and Clarity Act. What Stripe is quietly building with Bridge, Privy, and Tempo, and whether it's becoming the Visa of stablecoin settlement. Tether's shrinking equity cushion and what a de-pegging event could mean for the broader crypto market. YC’s surprising move to accept stablecoin investment as Bitcoin prices sit at half their peak. Subscribe to Equity on YouTube, Apple Podcasts, Overcast, Spotify and all the casts. You also can follow Equity on X and Threads, at @EquityPod. Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:25.1	Twinings.
0:27.8	Alive in every drop.
0:31.5	Hello and welcome back to Equity,
0:34.5	TechCrunch's flagship podcast about the business of startups.
0:35.6	I'm Rebecca Boulon, and this is the episode where we bring on industry
0:38.0	experts to help us explore a trend in the tech world and dive deep. Crypto is having a moment
0:43.5	again, but it feels different from the last cycle. At ETH, Denver, the buzz was as much about
0:48.7	Washington as it was about tokens, and as tether and stable coins face scrutiny, players like
0:53.7	Stripe re-enter the chat,
0:55.5	and startups find either traction or flame out, the industry feels like it's at another inflection
1:00.1	point. Today to talk about it all, we're joined by Jacqueline Mellinick, the CEO of
1:04.9	token relations, host of the Talking Tokens and Crypto in America podcasts, and former
1:10.1	reporter at TechCrunch.
1:17.7	Today we're joined by Jacqueline Mellinick, the CEO of Token Relations, host of the Talking
1:23.7	Tokens and Crypto in America podcasts, and former reporter here at TechCrunch. Jackie, so nice to see you again. Welcome to the show. It is so good to see you, and that is my favorite accolade out of all of them, is that I was a crypto reporter at TechCrunch, and I had a podcast there with you guys, too. So it feels like a full circle moment, and thanks for having me on. Tell me about you recently were at
1:44.6	Eith, Denver. Is that how you pronounce it? So this is a big crypto conference. You interviewed
	...

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