Good Morning, Asia. Here's what's making news in the markets: Welcome to Asia Morning Briefing, a daily summary of top stories during 0 and an overview of market moves and 1 a detailed overview of U. S. markets, see CoinDesk's Crypto Daybook 2 traders fixated on Jerome Powell’s latest rate signals, the more consequential story may be playing out in 3 sector has nearly doubled in a year to $280 billion, with most issuers holding short-term Treasuries as 4 ties crypto liquidity more directly to Federal Reserve policy than ever before, according to OKX Singapore CEO Gracie Lin.
"While markets are still digesting Powell’s latest comments on rates, a more consequential long-term shift is happening beyond the charts and headlines. It's in the so-called 'boring' stablecoins that we're seeing better long-term price signals," Lin told CoinDesk in a note. "The next step is unification - stablecoins have built the rails, now they need a unified market that delivers liquidity, efficiency and true utility for investors," Lin 5 analysts project the market could swell to $1.2 trillion by 2028, forcing $5.3 billion of new Treasury purchases each 6 inflows may marginally lower yields, but the risk runs in reverse: redemption surges could trigger forced selling of bills, draining 7 debate continued in a recent episode of Goldman Sachs' Exchanges podcast, where UC Berkeley’s Barry Eichengreen warned that stablecoins could replicate the money-market fund panic of 2008.
“When a dollar money market share fell to 97 cents in 2008, chaos broke out, contagion fears spread, and the government stepped in to guarantee funds,” he 8 9 of the Currency Brian Brooks countered on the podcast that the new GENIUS Act, which requires one-to-one Treasury backing, mirrors the national banking reforms that ended America’s “wildcat banking” era. “Supervision equals safety,” he said. “Every time a new token is issued, another dollar of Treasury securities has to be bought.” This tug-of-war captures the macro dilemma. Coinbase’s model shows stablecoins shaving basis points off Treasury yields, Brooks calls it a new engine of global dollar demand, and Eichengreen warns of a 2008-style liquidity crunch.
Lin, meanwhile, argues the rails are already there — and the question is whether they unify into a market that steadies the system or fracture into instruments that amplify 10 Movements BTC: BTC is currently trading above $111,300. CoinDesk market data shows that the world's largest digital asset is trading within a tight intraday range, which suggests consolidating 11 appear cautious amid macro uncertainty, with investors patiently waiting for further momentum or directional cues. ETH: ETH is tading at $4,320, showing modest upside (+0.6%) intraday, hinting at renewed investor interest following recent 12 broader crypto recovery, particularly in altcoins, seems to be bolstering demand.
Gold: Gold recently crossed $3,540 an ounce, putting it at a fresh all-time closing 13 rally is being driven by surging expectations for an upcoming Fed rate cut as well as heightened uncertainty over 14 and political pressure on the 15 are flocking to gold as a safe‑haven asset amid these 16 225: The Nikkei 225 remains steady within its current range, reflecting cautious optimism among 17 rise follows a broader “ninja stealth rally” in Japanese equities, driven by strong foreign inflows, reforms, and shifting global capital trends toward 18 in Crypto Jack Ma-Linked Yunfeng Financial to Build Ether Treasury Starting With $44M ETH Purchase ( CoinDesk ) Jito executives explore the impact of the SEC’s liquid staking decision ( The Block ) Ethereum Foundation to Unload Another 10K ETH Following SharpLink Deal ( CoinDesk )
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