Stablecoins, central bank digital currencies and the new rails of digital cash.
Tether, the prominent stablecoin issuer, has announced the appointment of Jesse Spiro as its new Head of Government Affairs. This move, effective September 13, 2024, marks a significant shift in Tether’s strategy as it seeks to bolster its regulatory engagement and address ongoing scrutiny surrounding its operations. Spiro’s New Role and Background Jesse Spiro joins … Read more
Circle Internet Financial, the issuer of the prominent USD Coin (USDC), is taking major strides to bolster its position in the global financial landscape. The company has announced the relocation of its global headquarters to New York City’s One World Trade Center, a move that underscores its commitment to growth and innovation. In tandem with … Read more
A recent survey by Visa and Castle Island Ventures has unveiled a significant uptick in stablecoin adoption during the first half of 2024. The survey predicts that stablecoin settlement volumes are on track to hit an impressive $5.28 trillion by the end of the year. This dramatic growth underscores the increasing integration of stablecoins into … Read more
A recent report by Consumers’ Research has intensified scrutiny on Tether, a prominent stablecoin, for its perceived lack of transparency regarding its U.S. dollar reserves. The organization highlights concerns about Tether’s failure to provide a comprehensive audit from a top accounting firm, prompting calls for increased regulatory oversight. Concerns Over Tether’s Transparency Consumers’ Research has … Read more
Ethereum co-founder Vitalik Buterin has made headlines with a strategic move that has captured the attention of the cryptocurrency market. On September 10th, Buterin staked 950 ETH, valued at approximately $2.24 million, alongside 2.277 million USDC on the decentralized finance (DeFi) platform AAVE. This transaction marks a notable shift in Buterin’s recent approach to Ethereum … Read more
Arbitrum, a leading Layer 2 scaling solution, is set to enhance its offerings with the integration of Paxos’s stablecoin issuance and regulated tokenization services. While the specific Paxos products to be deployed on Arbitrum have yet to be detailed, the collaboration marks a significant development for both the Arbitrum ecosystem and the broader decentralized finance … Read more
Alchemy Pay has announced a new initiative allowing users to convert Vietnamese dong (VND) into Tether Gold’s XAUT token without any transaction fees for a limited time. This update, shared on Alchemy Pay’s X (formerly Twitter) account, introduces an exclusive offer for users to top up their XAUT holdings with VND free of charge. Fee-Free … Read more
In January, Ethereum’s on-chain data revealed that stablecoin transaction volumes had reached an impressive $652 billion. This number has seen notable fluctuations throughout the year, with a significant peak in April when transaction volumes soared to $1.18 trillion. This surge highlights a growing interest and reliance on stablecoins within the decentralized finance (DeFi) sector. Among … Read more
In recent months, cryptocurrency market dynamics have shown notable shifts, according to insights from a CryptoQuant analyst. The period between May and July witnessed a dramatic 54% increase in open interest, highlighting a surge in speculative trading activity. Open interest, which tracks the total number of outstanding futures and options contracts, often correlates with growing … Read more
At the Eastern Economic Forum in Vladivostok on September 7, Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs (RSPP), made a compelling case for the use of cryptocurrencies and stablecoins in international trade. Shokhin’s remarks reflect a growing sentiment among Russian businesses that current legislative barriers are hindering their ability to engage … Read more