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Senator Josh Hawley is breaking ranks with his party to oppose the GENIUS Act, a stablecoin bill backed by the White House. The Missouri Republican argues the legislation is a ‘huge giveaway to Big Tech’ and lacks necessary controls.
- Senator Hawley opposes the GENIUS Act, claiming it benefits Big Tech without sufficient regulatory controls.
- The GENIUS Act could disrupt the credit card industry and has potential implications for figures like Trump and Musk.
- Circle, the company behind USDC, went public on the NYSE with shares soaring 168% above their IPO price.
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