$HOOD Robinhood continues their giveaway, this time with $ETH!

$PYPL's $PYUSD stablecoin nears $4b in market cap; the 6th largest in the world (and 3rd largest that is backed by the USD). That's nearly a 8x this year. With a full year of the Genius act, and increasing numbers of use cases in the near future, I'm curious how much this grows next year, and more importantly, if it can break meaningfully into payments. To date, no stablecoin has yet done so successfully.

Don't listen to hype like this. The actual data we have indicates a 25 bps cut this week, NOT 50, with a 10% chance for none. One thing Powell has done well since '22 is to not surprise anyone as we go into these Fed meetings. Expect that to continue with a 25 bps cut.