Fortune
Stripe, Visa and over 140 other businesses to launch stablecoin to rival Tether and Circle
A coalition of more than 140 major financial and tech players — including Stripe, Visa, BlackRock, American Express, and Google — is backing a new stablecoin designed to challenge the dominance of Tether and Circle. The initiative signals a significant institutional push to reshape the stablecoin market, which currently sees Tether's USDT commanding the lion's share of volume. If the consortium can convert its corporate firepower into user adoption, it could fundamentally redraw the competitive landscape of dollar-pegged digital assets.
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Fortune
The central bank of central banks just released its flagship annual report — and it sees a $1 trillion AI investment boom headed for a reckoning
The Bank for International Settlements is warning that the global surge in AI investment — projected to hit $1 trillion — bears troubling similarities to the dotcom bubble and 19th-century railway mania. The institution, which coordinates policy among the world's central banks, argues the current spending frenzy risks a sharp correction when returns fail to meet sky-high expectations. What distinguishes this moment from past manias, the BIS suggests, is the sheer scale of capital at risk and the degree to which AI infrastructure spending has become embedded in broader financial markets.
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