Crypto Long & Short: How the GENIUS Act repriced bitcoin's monetary premium
In this week's Crypto Long & Short, Ravi Tanuku on why the GENIUS Act didn't just regulate stablecoins, it repriced Bitcoin's monetary premium. Then, Jesper Johansen on why looped ETH staking no longer needs a lending market.
AI Summary
The GENIUS Act, which regulated stablecoins by requiring 100% reserves in U.S. dollars or Treasuries, created a government-sanctioned digital dollar alternative that shifted demand away from Bitcoin to stablecoins, according to analyst Ravi Tanuku. Since the act's passage on July 18, 2025, gold has outperformed Bitcoin by nearly 100% in the same macro environment, suggesting Bitcoin's decline was driven by this regulatory shift rather than typical market cycles or sentiment. The article also discusses Jesper Johansen's analysis on looped ETH staking no longer requiring exposure to lending markets.