“A lot is happening that’s long overdue” in the crypto world, says Austin King, from regulation to stablecoin legislation. “Last year, stablecoins processed more volume than Visa and Mastercard combined,” he claims. He explains what stablecoins are and how they’re used, and why he thinks financial institutions can benefit from them. He also covers the Circle (CRCL) IPO and his outlook for the crypto industry in the second half of 2025.