How is Stablecoins & the GENIUS Act constructed?
Published by Deepstory Research as the methodology attached to Stablecoins & the GENIUS Act. Scope and source attribution are bounded by that Evidence Brief.
Procedure and scope
Source-backed values are seeded for all five charts: stablecoin market cap by issuer (2024 → 2026), issuer share over time, annual transfer volume vs card networks, the GENIUS Act compliance timeline, and reserve composition by issuer. Every numeric point carries a sources[].ref and a value_basis. Totals are from DefiLlama and CoinGecko; per-issuer figures from issuer data, with the "others" bucket by deduction (labeled). Reserve splits are from Tether’s BDO attestation and Circle’s reserve disclosures. CAVEAT: 2024 transfer volume (~$27.6T) exceeds Visa+Mastercard, but ~70% of stablecoin volume is bot/exchange activity rather than organic payments — noted on the chart’s value_basis. The GENIUS timeline is shown as days from 2026-06-16; each milestone’s absolute date is in its value_basis. Re-verified 2026-06-15.
Known failure modes and limits
- Organic vs wash volume precisely (only the ~70% non-organic caveat is sourced).
- Issuer solvency (attestations are not full audits).