Crypto's Volatility-Loving Fans Bet on Stablecoins For Mainstream Success
Welcome back to The Forecast from Bloomberg Weekend, where we help you think about the future — from next week to next decade.
This weekend we're looking at stablecoins taking crypto mainstream, nuclear deterrence theories put to the test, the chances Israel strikes Iran and Florida's struggling real estate market.
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Spot Crypto ETF Filings for XRP, SOL, DOGE Among Those With Overwhelming SEC Approval Odds: Bloomberg
Odds are stacked that the U.S. Securities and Exchange Commission approves most of the filed crypto exchange-traded funds, including the various XRP ETFs, by their respective deadlines, according to Bloomberg Analysts James Seyffart and Eric Balchunas. 'We are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher,' Bloomberg Intelligence's James Seyffart said in a post on X. 'Engagement from the SEC is a very positive sign in our opinion.' According to the analysts, ETFs for assets like Litecoin, Solana, XRP, Dogecoin, and Cardano all now sit at or above the 90% mark. These estimates reflect growing optimism from ETF specialists following a wave of 19b-4 acknowledgements and S-1 amendment requests from the Securities and Exchange Commission. Analysts view this back-and-forth process as a signal that the SEC is now more willing to work with issuers. The only asset lagging behind is SUI, filed solely by Canary. Bloomberg assigns it a 60% chance of approval, citing a lack of regulated futures and regulatory uncertainty. Bettors on Polymarket are also feeling optimistic. They are giving a 98% chance that an XRP ETF gets approved this year, and a 91% chance a SOL ETF gets the green light. It's also likely that a DOGE ETF gets a go-ahead, with bettors giving that a 71% chance of happening.
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S&P 500-listed CEO Brian Armstrong warns of looming U.S. debt crisis
S&P 500-listed CEO Brian Armstrong warns of looming U.S. debt crisis originally appeared on TheStreet. Brian Armstrong, CEO of Coinbase, issued a dire warning about the state of the global economy this week, pointing to soaring debt, inflation, and declining economic freedom as the key drivers of rapidly increasing crypto adoption. In a post on X, Armstrong stated, "The world needs crypto, now more than ever," while posting a chart that U.S. federal debt surpassed $34 trillion. Armstrong characterized crypto as a means to regain financial sovereignty, giving individuals the ability to avoid centralized institutions and be able to access fast and cheap global payments. "Economic freedom means it's your money," he shared while referencing the growing demand for Bitcoin and stablecoins as an inflation hedge against out-of-control fiscal policy. His explanation of Coinbase's phased strategy is in three phases. It started as a crypto investment platform, expanded into financial services, and is evolving into an application layer for the next generation of internet tools. He continued explaining the growth of Bitcoin's all-time high and stablecoins, which are adopting more quickly as proof that crypto is "eating the financial services industry." Coinbase made four announcements at its 2025 State of Crypto Summit: Coinbase Business for startups; payment APIs for easy USDC settlements (with Shopify as a proof point), options trading via Deribit integration, and a new Coinbase card with an American Express partnership offering up to 4% Bitcoin rewards. "People are feeling a lack of trust in their money and deficit spending," Armstrong said. "Crypto is the solution—and Coinbase is leading the charge." He added that this movement is not just about price, but about "building a financial system from the ground up." S&P 500-listed CEO Brian Armstrong warns of looming U.S. debt crisis first appeared on TheStreet on Jun 20, 2025 This story was originally reported by TheStreet on Jun 20, 2025, where it first appeared.
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Downtown San Francisco's home prices are surging — and not only because the new mayor is tackling quality-of-life issues
After years of declining property values, shuttered storefronts and a pandemic-driven exodus of remote tech workers, signs of life are reemerging in San Francisco's core. Median home list prices in one central ZIP code — encompassing neighborhoods like Nob Hill, Union Square and the Tenderloin — soared 51% in May compared to the same time last year, according to While those figures reflect list prices rather than final sale prices — and can swing based on the mix of homes entering the market — the sharp uptick points to renewed buyer interest in an area that, until recently, symbolized San Francisco's struggles. The shift comes not only as more workers return to their offices, but also as newly elected Mayor Daniel Lurie pushes a cleanup campaign aimed at reversing the city's declining reputation. Since taking office in January, Lurie has focused on curbing open-air drug markets, reducing homelessness and boosting sanitation, while proposing a budget centered on core services like public safety. 'The people of this city have called on us to rebuild a safer, cleaner, thriving San Francisco,' Lurie said last month. 'To do that, we must provide clean and safe streets, address the crisis of homelessness and addiction, and reinvigorate the spirit and strength of businesses and neighborhoods across this city.' Lurie, a political newcomer and heir to the Levi Strauss fortune, defeated incumbent Mayor London Breed in a campaign dominated by concerns over quality-of-life issues. His proposed $800 million budget includes controversial cuts to city staffing — roughly 1,400 positions — while expanding law enforcement and behavioral health initiatives. Among the measures already underway: targeted enforcement in drug hotspots and new rules requiring city-distributed drug paraphernalia to be paired with counseling referrals. Though some critics have protested the staffing cuts, Lurie's office touts early progress. Crime is down nearly 30%, car break-ins are at their lowest point in 22 years and street encampments have dropped to their lowest level since 2019, according to city data. 'We're definitely starting to see progress,' Steven Huang, founder of Ascend Real Estate and president of the San Francisco Association of Realtors, told 'Some of it is visible today, and I would say that even in Downtown, in Union Square, our famous shopping district, you're definitely going to see a lot more foot traffic already, but it's just the beginning.' The housing recovery remains uneven. In the broader San Francisco metro, the median home list price stood at $998,000 in May — still 4% lower than a year earlier. Most ZIP codes across the city continue to lag behind pre-pandemic pricing levels. The collapse began in earnest in 2022, when San Francisco home prices tumbled 12% over a nine-month stretch, according to the Case-Shiller Home Price Index. The hollowing out of downtown — fueled by work-from-home shifts, office vacancies and the fentanyl crisis — left once-busy corridors eerily quiet. 'Demand for homes in central San Francisco fell as office workers went remote and even relocated,' said Hannah Jones, senior economic research analyst at 'However, compared to last year, prices are on the rise again, suggesting demand for homes in the city is on the rise once again, perhaps prompted by return-to-office requirements.' Whether the current momentum can be sustained remains to be seen. The market is still navigating high interest rates, affordability challenges, and persistent concerns about public safety. But with AI companies clustering in the Bay Area and downtown's cleanup underway, some see the beginnings of a fragile rebound. Sign in to access your portfolio
