On-chain data shows that stablecoin exchange inflows have seen a sharp drop recently. This could be bearish for the Bitcoin price. Ethereum-Based Stablecoins Have Seen Low Exchange Deposits Recently As CryptoQuant author Axel Adler Jr. pointed out in a post on X, the exchange inflows of Ethereum-based stablecoins have recently dropped below the 90-day average. […]
In a recent podcast interview, Ripple’s CEO Brad Garlinghouse stated that Tether, the largest Stablecoin issuer by market share, is next on the US government’s target list. Tether’s CEO, Paolo Ardoino, refuted Garlinghouse’s comments and accused him of spreading fear. Is Tether Next In Line? Ripple’s CEO joined Quantum’s founder, Chris Vasquez, for his World […]
In a post on X, one analyst now claims traditional fiat-backed stablecoins like USDT and USDC should prepare for a “major” attack due to the increasing popularity of Ethena’s USDe. The warning follows Ethena and USDe’s integration with Bybit, a crypto exchange allowing perpetual trading. USDe is not fiat-backed like other popular stablecoins. Instead, it is a […]
Tether, the company behind the USDT stablecoin, has announced a significant reorganization and expansion strategy aimed at transcending its flagship product. This move introduces four distinct business divisions—Data, Finance, Power, and Edu—with a focus on broadening its influence and applications in various sectors of technology and finance. Paolo Ardoino, CEO, emphasized the strategic pivot: “Thriving […]
On-chain data suggests the whale entities have bought up around 5% of the supply of the major stablecoins over the past three weeks. Whales Have Been Gobbling Up Stablecoin Supply Recently According to data from the on-chain analytics firm Santiment, whales have been rapidly accumulating the stablecoin supply recently. Whales here refer to investors holding […]
A crypto analyst has provided insights into how the structure of the Ethereum ecosystem could bring Bitcoin and the broader crypto market down. His analysis focused on Ethereum’s liquid-staked tokens (LSTs), liquid-restaked tokens (LRTs) and stablecoins backed by these tokens and how they could lead to the next “bubble” burst. Magic Money That Could Lead […]
The cryptocurrency world watches with a mix of intrigue and apprehension as Tether (USDT), the most prominent stablecoin, inches closer to a seemingly mythical $100 billion market capitalization. This monumental milestone signifies Tether’s undeniable market dominance, but it also casts a spotlight on the regulatory clouds gathering around the stablecoin and the potential implications for […]
In a recent video titled “Legacy is Eating Crypto,” Cardano founder Charles Hoskinson has expressed concerns about the increasing centralization of power in the cryptocurrency industry. Hoskinson specifically highlighted the dominance of a few top companies in the Bitcoin and stablecoin sectors, arguing that this poses risks to users and undermines the decentralized nature of […]
On-chain data shows stablecoins have recorded more than $4 billion in inflows in the past month. Here’s why this could be relevant for Bitcoin. Stablecoin Market Cap Has Enjoyed Some Notable Growth Recently According to data from the on-chain analytics firm Glassnode, the aggregate supply of stablecoins has been going through an expansion since October […]
Circle Internet Financial, known as the issuer of the USDC stablecoin, has confidentially filed for an initial public offering (IPO) in the United States, as per an exclusive Reuters report, signaling its intention to become a publicly-traded company. This move marks a pivotal step in Circle’s journey, reflecting the growing interface between traditional financial markets […]
In a recent post on X (formerly Twitter), David Schwartz, Ripple’s Chief Technology Officer (CTO), shared his predictions for the blockchain industry in 2024 and beyond. Interoperability As Catalysts For DeFi Growth On The XRPL According to Schwartz, the convergence of artificial intelligence (AI) and blockchain will revolutionize cybersecurity and financial services. AI, according to […]
Crypto Assets Triumph As Commodities, But Face Regulatory “Turf War,” Says US CFTC Chair | Bitcoinist.com
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In the ongoing clash between regulatory bodies over the classification and regulation of the crypto industry, CFTC Chair Rostin Behnam has added fuel to the fire by stating that most crypto assets are commodities under existing laws. However, Behnam also acknowledged the existence of a “turf war” between regulatory bodies regarding the oversight of the […]