1 month ago
It was a atrocious week for crypto prices, with BTC and ETH some falling and the CoinDesk 20, which covers 80% of the market, losing 7% since Monday.
But little speculative assets showed plentifulness of volume. Stablecoins, successful particular, were the sanction of the crippled this week.
The U.S. House introduced a stablecoin bill, pursuing up connected the Senate mentation that was approved by committee past week. Jesse Hamilton reported. Wyoming (aka “The Blockchain State”) wants its ain stablecoin and it’s investigating the thought connected Avalanche, Solana and Ethereum, Kris Sandor reported.
World Liberty Financial (WLFI), the fiscal protocol backed by Donald Trump and his family, confirmed the motorboat of its stablecoin (USD1) this week. And Don Trump Jr. trumpeted the quality astatine the DC Blockchain Summit.
Meanwhile, Fidelity Investment, an aboriginal TradFi innovator successful crypto, is successful the advanced stages of launching its ain stablecoin. The task is portion of a strategy to participate the tokenized enslaved market, Jamie Crawley reported.
Meanwhile, Circle, the issuer of the 2nd biggest stablecoin (USDC), has yet secured a licence to run successful Japan successful concern with section heavyweight SBI Holdings, Sam Reynolds reported.
In quality from our Europe team, Ian Allison had a scoop astir Sam Altman's World Network holding talks with Visa connected linking on-chain paper features to a self-custody crypto wallet.
Will Canny heard from a root that Sam Hill, Zodia Custody's COO had near and was returning to a relation successful TradFi. He was capable to transportation the Standard Chartered-backed institution to corroborate the determination and we bushed the contention with the story.
Canny followed up the adjacent time with a story, unreported elsewhere, connected the wave of elder unit losses astatine crypto premier broker FalconX. (BlackRock, by contrast, was adding endowment to its digital assets squad successful the U.S.)
We continued to study connected Strategy (MicroStrategy), pioneer of the firm bitcoin treasury. Christine Lee had a two-hour interrogation with enforcement president Michael Saylor, wherever helium mused astir bitcoin arsenic a $200 trillion plus and promised to pain bitcoin successful the sanction of immortality.
Strategy has invested astir $33 cardinal successful bitcoin truthful acold done assorted banal offerings, some communal and preferred. And James Van Straten explained the differences betwixt the company's fund-raising instruments for bitcoin purchases. Tom Carreras followed up aboriginal with a bully portion showing however MSTR stockholders mightiness beryllium astatine hazard from Saylor’s buy-every-bitcoin strategy.
Meanwhile, the SEC continued to driblet enforcement actions against crypto companies (Immutable was the latest, arsenic Cheyenne Ligon reported). But, strangely, 1 involving Unicoin stayed open, overmuch to the CEO’s chagrin.
It astir felt similar a mean benignant of week — much incremental than monumental. But past the president’s ain media institution announced that it was launching its ain ETFs and ETPs with Crypto.com. Thankfully, crypto inactive has the powerfulness to surprise.
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