🚨 Big news in the bank world! The "Big Four" of U.S. banking—JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo—are teaming up to create a new stablecoin tied to the dollar! 💵

This joint effort isn't just for the founding banks; it’ll also be open to regional players. Their goal? To simplify and cut costs on transactions, especially in digital payments. As the crypto market heats up 🔥, they’re looking to compete with stablecoins like USDC and USDT.

But hold up—this raises some eyebrows about centralization since banks could potentially control transactions, which kinda goes against the whole decentralized vibe of crypto. 🤔

Meanwhile, there's buzz around the GENIUS Act—a bill aimed at creating a legal framework for stablecoins and integrating them into traditional finance. David Sachs, a former Trump advisor, is pushing this bill hard. His support is linked to possible ties with World Liberty Financial (yup, the one backed by the Trump family), which just launched its own stablecoin USD1.

If this bill passes, it could speed up banks' entry into digital assets—but concerns about centralization and regulation are still hot topics of debate. 🔥

[Oh, and by the way](https://t.co/SHBzeuPPz0)—Hong Kong just legalized stablecoins this week! Dubai did it too! 🌍💼