Stephen Gandel is right about banks’ claim that stablecoins will pull deposits from the banking system on aggregate—it’s not possible. Read why:
reuters.com/commentary/bre…
Does Pat Toomey Support Crypto?
Based on previous comments, Pat Toomey has indicated they are very pro-cryptocurrency. Below you can view the tweets, quotes, and other commentary Pat Toomey has made about crypto.
Check out my op-ed in today’s Financial Times on why stablecoins holders should be allowed to earn interest:
Pat Toomey reposted the post below
For those who misunderstand what’s at stake in the debate on offering rewards on US-issued stablecoins under the GENIUS Act, a sobering and timely announcement from the People’s Bank of China that they plan to pay interest on the Digital Yuan. 
Tokenization is the future and the GENIUS Act was a visionary move by @POTUS and Congress to ensure US dollar stablecoins issued under US rules would be the primary settlement instrument of the future.
If this issue is mishandled in Senate negotiations on the market structure bill it could hand our global rivals a big assist in giving non-US stablecoins and CBDCs a critical competitive advantage at the worst possible time. Lobbyists for entrenched incumbents will always fight change. It's critical for negotiators to protect the primacy of the US dollar and the US financial system, not just incumbent interests.
Tokenization is the future and the GENIUS Act was a visionary move by @POTUS and Congress to ensure US dollar stablecoins issued under US rules would be the primary settlement instrument of the future.
If this issue is mishandled in Senate negotiations on the market structure bill it could hand our global rivals a big assist in giving non-US stablecoins and CBDCs a critical competitive advantage at the worst possible time. Lobbyists for entrenched incumbents will always fight change. It's critical for negotiators to protect the primacy of the US dollar and the US financial system, not just incumbent interests.
Congrats to the House of Reps on bipartisan passage of three essential crypto bills! GENIUS now goes to POTUS for his signature and Americans finally get the stablecoin reg. framework we need!
CLARITY puts mkt structure squarely in the Senate’s court. Let’s get it done!
We’re closer than ever to passing sensible crypto legislation and it can’t come soon enough. Thanks for having me on to discuss this and more, @bloombergTV. bloomberg.com/news/videos/20…
Great thread from Faryar. He’s right. Stablecoins will play a transformative role in the payments space and beyond. The senate must pass the GENIUS Act so the US can lead this tech.
Faryar Shirzad 🛡️
@faryarshirzad
Passing stablecoin legislation is an urgent national priority. The future of finance will be built on blockchain infrastructure - and the US needs a trusted, digitally native US dollar to compete in an increasingly onchain global economy. The GENIUS Act isn’t perfect but it goes a long way to ensure that US dollar stablecoins - issued in the US under US rules - are the currency of choice onchain. 1/8
Commentary on Stance
Add your own commentary on this stance
Sen. Toomey is a strong advocate for stablecoins and the GENIUS Act. He understands their potential to revolutionize payments and wants the US to lead in this technology. The GENIUS Act aims to establish a clear regulatory framework for stablecoins, ensuring they are issued under US rules, which Toomey believes is crucial for maintaining the US dollar's global dominance in the digital age. This stance aligns with his consistently pro-crypto views. He recognizes the importance of stablecoins as a bridge between traditional finance and the crypto world, and his support for the GENIUS Act reflects his commitment to fostering innovation while providing regulatory clarity.
Congrats to Summer Mersinger on becoming the CEO of Blockchain Association! She brings a great background at a very important moment for crypto.
Outgoing CEO Kristin Smith will be missed. She did a great job building BA into a strong and influential organization. Good luck KS!
Coinbase’s acquisition of Deribit is a defining moment for the crypto markets. With Deribit’s dominance in options and Coinbase’s existing scale in futures and perps, this deal creates a derivatives powerhouse. It’s a strategic leap that will shape the global financial landscape.
Coinbase 🛡️
@coinbase
We are acquiring @DeribitOfficial to build the most powerful global crypto platform—bringing spot, futures, and options together under one roof.
As a member of the Paradigm Policy Council, I’m excited to share Paradigm’s proposed market structure principles, laying out clear guidelines and protections for DeFi.
paradigm.xyz/2025/04/market…
I also applaud the bipartisan advancement of the GENIUS Act, legislation that will, at long last, enable a sensible regulatory framework for stablecoins.
Big day for Senate Banking Committee. I’m for passage of 2 good bills—1 on stablecoins and 1 on banking regulation.
Check out my op-ed on the former.
coindesk.com/opinion/2025/0…
Hard to overstate the importance of today’s @financialcmte’s hearing on debanking of crypto. Definitive proof that political and institutional bias motivated federal regulators to cut off an industry that was out of favor with their beliefs. It’s refreshing to see the veil pulled
How are global trends shaping the crypto market? From rising inflation to geopolitical tensions, @coinbase's new report dives into why why more countries, especially in the developing world, are turning to crypto:
coinbase.com/blog/economic-…
Greater economic freedom leads to greater economic prosperity.
Ignoring the potential crypto holds for increasing economic freedom globally isn’t just bad policy – it would be bad politics.
Great piece from @brian_armstrong.
Axios
@axios
The nation's largest crypto exchange, Coinbase, endorsed the idea of a U.S. bitcoin strategic reserve.
trib.al/fcGplTN
America has elected the most pro-crypto Congress in history — now it's time for this new Congress and Administration to stop dragging its feet in court and start passing sensible rulemaking for digital asset regulation.
The results are showing us that voters want change. Crypto is no exception.
The message to those with political aspirations is loud and clear: Being anti-crypto is simply bad politics.
On Election Day, @standwithcrypto tracked 355 pro-crypto candidates running for federal office. 75% of them have already won, including 12 pro-crypto candidates for Congress in PA — and there are still more to come as close races are called.
Republicans had an amazing election, but they’re not the only ones who won.
Crypto also had a great night.
Voters have already elected a strong pro-crypto majority in the House (253 and counting), and with dozens of races left to call that number will only grow.
In battleground states like Pennsylvania and Ohio, pro-crypto candidates are taking the Senate. And these wins transcend party lines, with crypto wins in deep blue states. The message is clear: crypto is a mainstream, popular political issue.
forbes.com/sites/digital-…