FRONTRUNNER Christopher Waller gives the agency a green light to Ethereum and Stubcoin

Federal Reserve Governor Christopher Waller, who many consider to be the frontline for the next Fed Chairman, has openly expressed optimism about digital assets, particularly Ethereum and Stubcoin.

Speaking at the Wyoming Blockchain Symposium 2025, Waller urged financial institutions to embrace cryptocurrency as a natural next step in the evolution of payments.

Cryptocurrency payments are no different from past innovations

Waller argued that smart contracts, tokenization, and distributed ledgers are simply modern ways to record transactions and dismiss the fear of taking on their own risks.

He compared today’s crypto skepticism with early doubts about credit cards decades ago, noting that all payment systems faced resistance before they first became mainstream.

Related: After Powell’s speech, the Fed rate reduction in September is said to be “Go.”

He highlighted Stubcoin as particularly promising given their dollar pegs, their immediate transfer capabilities, and their potential role in strengthening the US dollar around the world.

Waller explained that stubcoins could further strengthen access to the dollar in regions with a volatile financial system and be further strengthened as a global reserve currency. He also praised the act of genius as an important step in eliminating the regulatory uncertainty of stubcoin issuers.

The dynamics of the Ethereum market

Meanwhile, Ethereum continues to consolidate near the $4,500 mark after a recent recovery from critical support from DIP.

The momentum appears to be weakening, but we have consistently defended this level throughout August.

Popular Matrixport analyst Markus Thielen expects ETH to vibrate between $4,355 and $4,958 in the short term, warning that below support failures could cause further downside pressure.

Do whales buy this ETH dip?

Yes, on-chain data shows that large investors are accumulating using this integration period. At the same time, Cryptoquant’s on-chain data revealed that between August 24 and 27, the exchange recorded net spills of 628K ETH, and that the whales held between 10k and 100k ETH are steadily increasing their position to new highs.

This is consistent with a decrease in exchange liquidity, indicating that institutional demand is absorbing circulating supply. Such dynamics can set upward price momentum stages when demand is sustained and sell-side liquidity is limited.