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Welcome to the Lorenzo Letter, your weekly update on stablecoins, DeFi, tokenization, crypto legislation, and more.
In This Issue:
Stablecoin Yield Debate Continues Without Resolution
Deel Partners with MoonPay for Stablecoin Salary Payouts
Kraken Dismisses CFO as IPO Preparations Continue
Stablecoin Yield Debate Continues Without Resolution
Closed-door talks between U.S. banking leaders and crypto industry representatives ended without agreement on stablecoin yield rules, leaving the Clarity Act stalled in Congress. The White House–hosted session focused on whether issuers of dollar-pegged stablecoins should be permitted to offer interest or rewards to holders.
Banking groups circulated a proposal calling for a broad prohibition on financial or non-financial incentives tied to payment stablecoins, going beyond the latest draft of the Clarity Act. That version would ban passive interest payments while allowing limited, activity-based incentives under defined conditions.
Major banks, including JPMorgan Chase, Bank of America, and Goldman Sachs, participated alongside crypto firms and trade groups such as Coinbase and the Blockchain Association. While participants described discussions as constructive, no resolution was reached, and negotiations will continue.
Full Story:
https://lorenzo-protocol.ghost.io/stablecoin-yield-debate-continues-as-white-house-talks-end-without-resolution/
Deel Partners with MoonPay for Stablecoin Salary Payouts
Global payroll platform Deel will begin offering employees the option to receive salary payments in stablecoins through a partnership with MoonPay, starting in the United Kingdom and the European Union next month. A second rollout phase targeting the United States is planned later.
Under the arrangement, employees can opt to receive part or all of their wages in stablecoins delivered to non-custodial wallets. Deel will continue handling payroll and compliance, while MoonPay will manage conversion, settlement, and onchain wallet delivery.
Deel processes roughly $22 billion in annual payroll volume across more than 150 countries. The companies did not specify which stablecoins would be supported at launch or provide a timeline for U.S. regulatory approvals.
Full Story:
https://www.triana.media/deel-to-launch-stablecoin-salary-payouts-in-uk-and-eu-through-moonpay-partnership/
Kraken Dismisses CFO as IPO Preparations Continue
Crypto exchange Kraken has dismissed Chief Financial Officer Stephanie Lemmerman as the company advances plans to go public in the United States. According to a Feb. 10 report from CoinDesk, Lemmerman has moved into a strategic advisory role after serving roughly 16 months in the position.
Sources cited in the report said Robert Moore, previously Kraken’s vice president of business expansion, has assumed chief financial responsibilities and is listed as deputy CFO on the company’s website. The leadership change comes as Kraken prepares for an IPO after confidentially filing in November, about a year after completing an $800 million funding round that valued the firm at $20 billion.
Kraken joins a growing list of crypto infrastructure firms pursuing public listings as institutional interest shifts toward custody, compliance, and trading infrastructure businesses.
Full Story:
https://www.triana.media/kraken-dismisses-cfo-as-ipo-preparations-continue/
