Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big picture power shifts remaking our world.

What's going on, guys? It is Tuesday, May 27th, and today we are talking about a new bank

stablecoin consortium. Before we get into that, however, if you are enjoying the breakdown,

please go subscribe to it, give it a rating, give it a review, or if you want to dive deeper into

the conversation, come join us on the breakers discord. You can find a link in the show notes or go

to bit.ly slash breakdown pod. All right, friends, hope you had a great Memorial Day weekend if you are in the U.S.

And for everyone else, we are back. Quick check-in on price action after a fresh all-time high

last Wednesday, Bitcoin's price was pretty subdued over the long weekend. We saw price

failed to breach

112,000 several times on Thursday afternoon, and on the downside, Bitcoin traded at a weekend

low of 106,600 after Trump's brief threat to tariff EU products at 50%. That threat was delayed for

a month and seems to have brought EU trade representatives to the negotiation table, leading

to a recovery and

all in all a very quiet weekend near all-time highs. Bitcoin entered the week around 110,000

and within striking distance of another all-time high. Ultimately, though, not much to report on

price. Instead, we are going to focus today on some big developments in institutional adoption,

as crypto finds its place in the global financial

system. The big news to end last week was that America's largest banks are planning to form a

consortium to issue a joint stable coin. The Wall Street Journal reports that JPMorgan Chase,

Bank of America, Citigroup, Wells Fargo, and other large commercial banks are exploring the idea.

These banks already collaborate through a joint venture

...