Federal Reserve’s Concerns in Stablecoin Oversight The stablecoin market continues to expand, with its total capitalization surpassing $174 billion as of November 2024. Despite the sector’s growth, former US Senator Pat Toomey has flagged key challenges delaying comprehensive regulations for issuers in…
The cryptocurrency market experienced a significant spike in large transactions following crypto whale actions on leading assets like Bitcoin, Ethereum, Toncoin, and Cardano. Data from IntoTheBlock indicated that Bitcoin had the largest transaction volume of nearly $44 billion on October 21st. Crypto…
Although it’s not simple, selling USDT for cash while keeping anonymity is achievable. Many crypto users look for ways to turn their digital assets without disclosing personal information. With a focus on Bitcoin ATMs and peer-to-peer (P2P) platforms, this guide will discuss…
BaseBros Fi Vanishes After Rug Pull BaseBros Fi, a yield optimization protocol on the Base blockchain, has vanished after allegedly pulling off a rug pull. The platform stole user funds through an unaudited smart contract. BaseBros deleted its official website and social…
BBVA, one of Spain’s leading banking institutions, has announced the integration of USDC stablecoin into its banking services. The move is part of the bank’s expansion into the crypto space to offer institutional clients specialized trading operations. In addition, BBVA’s integration of…
Following accusations that the Ethereum network does not care about decentralized finance (DeFi), Vitalik Buterin has downplayed the criticisms over alleged neglect. According to the Ethereum co-founder, DeFi has been an important part of Ethereum’s ecosystem core principle. Frustrations over Ethereum’s DeFi…
Tether to Introduce Dirham-Backed Stablecoin in UAE Tether, the dominant force in the stablecoin sector, is set to launch a new digital currency backed by the United Arab Emirates dirham (AED). This move is part of a collaboration with the UAE’s Phoenix…
Following the launch of the updated draft of the 1099-DA crypto tax form by the US Internal Revenue Service (IRS), crypto traders and investors must report all transaction activities involving digital assets. The updated legislation, set to go into force in 2026,…
On Monday, the second largest stablecoin issuer, Circle, was approved to operate as an electronic money transmitter (EMI) in France. The Circle team was pleased to state that the approval of EMI allowed the stablecoin issuer to offer its diverse crypto product…
As the financial sector seeks to integrate the use of crypto, central banks are exploring possible ways to launch a digital currency. A survey conducted by the Bank for International Settlements (BIS) demonstrated that 94% of the central banks were working on…
Tether, the world’s largest stablecoin issuer, USDT, has revealed plans to undergo a significant restructuring that will cement the company at the desired market position. Having gained dominance in the stablecoin industry, the Tether team unveiled its restructuring plans to broaden its…
In an exclusive interview with the chief executive of Astar Network, Sota Watanabe stated that the partnership with the giant tech firm Sony has proved to be helpful. The executive envisages that in the coming months, the partnership will bring drastic changes…
OKX, the American-based crypto exchange, has rolled out OKX TR for Turkish users. In a February 27 report, the OKX team confirmed that the newly launched platform will consist of trading pairs with local currency. The report indicated that OKX TR will…
In its recent report, the prominent stablecoin issuer Circle entered into a strategic partnership with a metaverse-based gaming platform, Overdare. The partnership aims to enable Circle to expand the use case of USDC in the gaming sector. For months, the Overdare team…
Tether (USDT), the first ever stablecoin, remains the biggest stablecoin, accounting for about 70% of the stablecoin market share. The stablecoin continues to grow still, as its popularity continues to soar among users, giving it increasing dominance over the market. Tether said…
On Friday, January 12, the famous Web3 lending application Wise Lending was hit by a cyber attack that resulted in the loss of a substantial amount of funds. In a blog post, Wise Lending regretted that the hackers launched a malicious attack…
Head of the Hong Kong Monetary Authority (HKMA) Eddie Yue says stablecoins could bridge the gap between traditional finance and crypto. He made the statement following the joint release of a consultation paper today by HKMA, the Financial Services and the Treasury…
American fintech giant and issuer of USDC, Circle has included Solana in its list of supported blockchains for its Euro-pegged stablecoin, EURC. This will allow EURC users the option to send and receive the stablecoin through the Solana network henceforth. By the…
The desire to become the burgeoning Bitcoin hub in Central America has inspired El Salvador to explore ways to attract more foreign investment. In a December 7 update, the Salvadorian authority launched an “Adopting El Salvador Freedom Visa Program” to invite forward-thinking…
In an advance communication, the prominent stablecoin issuer Circle sealed a partnership agreement with the Japan-based financial institution SBI Holdings to push for mainstream crypto adoption. The two partners agreed to combine forces to increase USDC and Web3 services adoption in Japan….
