Fund manager shifts from USDT to USDC and USDe due to concerns over new financial bill

From Yahoo Finance: 2025-06-26 18:02:00

Investors are urged to reconsider using USDT, as Maelstrom Managing Partner Akshat Vaidya shifts to USDC and USDe. The GENIUS Act could force Tether to reveal reserves and undergo audits, potentially impacting its market share. Vaidya stresses the importance of transparency and urges holders to switch stablecoins.

The GENIUS Act passed by the U.S. Senate aims to impose strict rules on stablecoin issuers, moving to the House for a vote. If enacted, it could require Tether to disclose reserves and undergo audits, potentially affecting its U.S. market access. Transparency and compliance are key for stablecoin holders, Vaidya emphasizes.

Read more: Fund manager has a ‘paranoid’ response to new financial bill