Crypto Today: $2T Stablecoins, BTC Slides, SEC 2% Haircut
NewsToday’s crypto roundup: Standard Chartered cut its estimate for US Treasury bill demand arising from stablecoin reserves to $800 billion–$1 trillion by 2028 while keeping its $2 trillion stablecoin market forecast. Bitcoin dropped 4% in about two hours, erasing weekend gains, and staff at the US Securities and Exchange Commission said broker-dealers may apply a 2% “haircut” to stablecoin holdings without objection.
Standard Chartered maintains $2 trillion stablecoin outlook, lowers T-bill demand estimate
Standard Chartered analysts reaffirmed their projection that the stablecoin market will reach $2 trillion by late 2028, while trimming expectations for short-term US Treasury bill demand.Stablecoins such as Tether’s USDt (USDT) and Circle’s USDC (USDC) are now projected to lift T-bill demand to $2.2 trillion by 2028, according to analyst Geoffrey Kendrick and US rates strategist John Davies in a Monday report.Despite the US dollar stablecoin market cap holding near $300 billion in recent months amid a broader crypto downturn, the analysts remain positive following the passage of the US GENIUS Act in 2025. Source: Standard CharteredThe report described recent pressures as cyclical rather than structural and reiterated the expectation for a $2 trillion stablecoin market cap by end-2028.Stablecoins are now anticipated to generate an additional $800 billion to $1 trillion in T-bill demand for reserve purposes by late 2028, a reduction from the $1.6 trillion estimated in April 2025, even with the GENIUS Act in place.Bitcoin slides to fresh fear levels, undoing weekend gains
The Crypto Fear and Greed Index fell to its lowest levels on Monday as Bitcoin declined more than 4% to $64,300, reversing gains since Friday. More than 136,000 traders were liquidated over the past 24 hours, with total liquidations at $458 million, 92% of which were leveraged long positions, according to CoinGlass.Bitcoin advanced over the weekend, reaching $68,600 on Saturday, but it now sits near support at the lower boundary of a range that formed after its Feb. 6 drop to $60,000.Bitcoin is now trading 48% below its October all-time high of $126,000 and 5.5% below its 2021 bull-market peak of $69,000. Bitcoin sheds more than $3,000 in less than two hours. Source: TradingViewSEC staff say broker-dealers may apply 2% “haircut” to stablecoins
Staff at the US Securities and Exchange Commission clarified that broker-dealers can apply a 2% “haircut” to stablecoin holdings without SEC objection.The update, published as FAQs, indicates broker-dealers can hold stablecoins without triggering excess net capital concerns and may treat the tokens similarly to money market funds, which hold low-risk cash equivalents such as US Treasurys and certificates of deposit.Previously, broker-dealers were uncertain whether a 100% haircut should apply to dollar-pegged stablecoins, which would exclude the tokens from net capital calculations under existing regulations.Commissioner Hester Peirce said a 100% haircut would be unnecessarily punitive given the reserve assets that back payment stablecoins. SourceStay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
