Why Visa Fell 5%

AuthorAuthor

Anand Murali & Akumbenla Jamir
June 23, 2025

TL;DR — What to Watch 👀

Event

Why It Matters

U.S. House Vote on GENIUS Act

Could make regulated stablecoins the new norm. Expect moves in USDC, DeFi tokens, and market sentiment.

U.K. Crypto Regulation Drop (Mid-July)

Setting the rules for how crypto firms operate in the U.K. could trigger a wave of legitimate players entering the market.

Hey Folks,

Visa, one of Wall Street's best-performing stocks, tumbled 5% last week. It’s rare. Why?

Crypto insiders know this. We’ll tell you: Stablecoins are threatening traditional finance. 

Last week, the US Senate passed the GENIUS Act. If it goes through the house next, Stablecoins will go legit. 

So what’s the big deal?

Stablecoins facilitate faster financial transactions, work across borders, and don’t require a conventional banking setup. 

If they become trusted and widely used, it could upend traditional finance, especially card networks and payment processors. 

Moreover, it’s been reported that Amazon and Walmart, America’s largest retailers, are working on Stablecoins too. 

All this means Visa and others could lose their long-standing market dominance. 

We’re talking big numbers. Visa alone processed $15.7T (yes, Trillion) in transaction volume last year. 

While traditional finance took a hit, crypto-native firms saw a boost. 

Circle Internet Group, which operates USDC, closed up 34% on Wednesday, after Senate approval for the landmark stablecoin bill. The bill backs a model Circle has been pushing for: fully reserved, transparent, and regulated stablecoins. If passed, it could bring a significant shift in how money moves.

Payment processor Stripe also stands to gain. Stripe recently acquired Bridge, a stablecoin platform. Last year, Stripe processed $1.4T in transactions. Going on stablecoin rails will be a gamechanger. 

Meanwhile, the UK is also working on crypto regulations. Expect it around mid-July, along with rules for licenses and user protection. For crypto firms in the UK, this will be a big change. More people will feel safer using crypto with these rules in place.

This is a rare moment where two major economies are rewriting the rules together. It may not affect token prices overnight, but it will set the tone for the second half of the year. 

We’ll be watching how this goes and promise to keep you posted. 

The market experienced significant volatility in the past week, as all major cryptos by market capitalization underwent steep price corrections.

Weekly price movement: 

  • BTC $101,961 ⏬ 4.78% (7d)

  • ETH $2,264 ⏬ 13.63% (7d)

  • SOL $134 ⏬ 14.11% (7d)

  • BNB $624 ⏬ 4.64% (7d)

  • XRP $2.02 ⏬ 7.85% (7d)

(All data here as of 1:52 p.m., 23 June 2025)

Before we conclude, here’s a quick look at some important news from around the crypto world.

  • US spot Ethereum ETFs saw their largest outflow since mid-May on June 20, before Ether’s price tumbled below $2,400 on Saturday. Spot Bitcoin BTC ETFs, on the other hand, continued to set cumulative inflow records with a 9-day streak of net positive inflows. The Ethereum ETF outflows were led by a $19.7 million outflow from BlackRock’s ETHA fund, the largest such fund on the market by assets under management (AUM), according to The Block.

  • Texas became the third state in the US to pass legislation establishing a statewide strategic Bitcoin reserve after the state’s governor, Greg Abbot, signed SB 21 into law last week. Texas follows Arizona and New Hampshire in establishing a state-run Bitcoin reserve fund, although Texas is the first to create a standalone, publicly funded reserve, according to The Block.

That’s it for now. Thanks for sticking around.

See you later, folks! 👋

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