Bitcoin surges as J.D. Vance backs stablecoin legislation

Vice President Vance spoke at Bitcoin 2025 to back the GENIUS Act.

Transcript

00:00As President Trump's Genius Act sits in the Senate, Vice President J.D. Vance took the stage

00:04at Bitcoin's biggest conference of the year to back the stablecoin legislation.

00:08Speaking at Bitcoin 2025 in Las Vegas, Vance told the crowd,

00:12in this administration, we do not think that stablecoins threaten the integrity of the U.S.

00:16dollar. Quite the opposite. We view them as a forced multiplier of our economic might.

00:21He went on to add that dollar-pegged stablecoins, particularly once genius is enacted, is only

00:25going to help the American economy. Earlier in May, Trump's crypto czar, David Sachs, said the

00:30Genius Act could create trillions of dollars of demand for U.S. treasuries. However, Democrats

00:35previously rejected the Genius Act because of concerns over Donald Trump's own crypto projects.

00:39Those include Trump-branded meme and stablecoins from his family's businesses. At the time of this

00:44taping, Bitcoin, a popular barometer for the overall crypto industry, traded upwards of $108,000,

00:50near all-time highs. That'll do it for your Daily Briefing. From New York City, I'm Kelsey Barbario

00:54with The Street.

00:55Representatives for the White dropdowns of theipped cards in the 1500s.

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