Sherrod Brown, the Senate Banking Committee chairman and a known critic of cryptocurrencies, has expressed openness to advancing a long-delayed bid for stablecoin legislation. This unexpected support from Brown, a Democrat representing Ohio, has the potential to significantly enhance the…
FDUSD Stablecoin Launches on Sui Network Through First Digital Labs
In the realm of cryptocurrencies, stability and reliability are crucial factors that users seek in order to navigate the volatile landscape. First Digital Labs, a force in the blockchain industry, is set to introduce FDUSD, the first native, non-wrapped stablecoin…
Sony Bank Embarks on Stablecoin Trial Using Polygon Blockchain
Sony Bank, the banking and financial arm of the renowned Japanese technology conglomerate, has taken an innovative step forward by initiating a proof-of-concept to issue its own fiat-pegged stablecoin on the Polygon blockchain. This move comes as part of Sony’s…
What Concerns Do Regulators Have About the Stability of Crypto Stablecoins?
Stablecoins have emerged as a crucial component within the cryptocurrency ecosystem, offering traders a means to swiftly transition between volatile digital assets and a more stable form of value resembling traditional fiat currencies. These digital tokens, often pegged to a…
The Future of Stablecoins: Significance and Regulatory Vulnerability
In the rapidly evolving world of cryptocurrencies, 2023 has been a pivotal year. Prominent figures in the industry, such as Sam Bankman-Fried of FTX and Changpeng Zhao of Binance, have faced legal actions from US authorities. However, amidst these developments,…
Binance Announces Termination of BUSD Stablecoin Support on December 15
In a recent announcement, Binance, one of the leading cryptocurrency exchanges, revealed its decision to terminate support for its BUSD stablecoin on December 15. The move comes after Paxos, the company responsible for issuing BUSD, was instructed to cease minting…
Paxos Obtains Regulatory Approval in Singapore for US Dollar Stablecoin Initiative
In a notable stride, Paxos, a forefront blockchain platform, has attained preliminary endorsement from the Monetary Authority of Singapore (MAS) for its venture, Paxos Digital Singapore. This endorsement marks a significant breakthrough, permitting Paxos to extend its stablecoin platform denominated…
CFX Labs, a Solana Blockchain-based Stablecoin Payment Network secures $9.5 million to Expand Global Remittance Services
CFX Labs, a leading U.S.-based fintech firm, has recently secured $9.5 million in seed investments to fuel the expansion of its innovative Solana blockchain-based stablecoin payment and remittances network. This investment round, which was oversubscribed, includes notable participants such as…
Midas: Bridging the Gap Between Traditional Finance and Crypto with a Stablecoin Backed by U.S. Treasuries
Midas, a groundbreaking addition to the growing convergence between the world of cryptocurrencies and traditional finance, is set to make waves in the decentralized finance (DeFi) space. With its stUSD token, Midas aims to unleash the power of its stablecoin,…
UK Sets Out Proposals to Bring Stablecoins into Real Economy
While the United States patiently awaits the progress of its stablecoin bill, the United Kingdom has taken a proactive stance by formulating a comprehensive proposal to regulate stablecoins. The UK has integrated stablecoins into the mainstream economy as an alternative…
High Stakes Trial of Avi Eisenberg Involves Alleged 110 Million Dollar Theft from Mango Markets Crypto Exchange
In the high-stakes trial of Avi Eisenberg, a 28-year-old trader, federal jurors in New York were presented with divergent narratives regarding his alleged manipulation of the Mango Markets cryptocurrency exchange, resulting in the theft of a staggering $110 million. The…
Bitcoin’s Long-Term Investors Now Possess More Than 76% of All BTC for the First Time. Details below
In the ever-fluctuating world of cryptocurrencies, Bitcoin, affectionately known as BTC, is currently undergoing a transformation that is sending shockwaves through the market. Regardless of whether you are an experienced BTC price speculator or a newcomer to the crypto arena,…
