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With a $321B market cap, a16z argues the 'stablecoin' label is obsolete. The shift to digital payment infrastructure marks a new phase for global finance.

Payward has accused Etana Custody of a $25M Ponzi-like fraud involving customer reserves. The case exposes critical risks in third-party crypto custody.

The CLARITY Act moves to a Senate Banking Committee markup the week of May 11 after a breakthrough on stablecoin rewards. Watch for shifts in reserve requirements.