Everything web3, crypto, defi, degen
In brief The Bank of England proposal would cap stablecoin holdings at £10,000-£20,000 for individuals and £10 million for businesses. A Coinbase executive said the caps would be “bad for UK savers, bad for the City and bad for sterling.” Banking officials in the U.S. have also raised concerns about the market impact of stablecoins.…
In brief The startup beat out Paxos, Ethena, and others, with validators and prediction markets pushing odds to above 90% before the vote. Native Markets’ proposal splits reserve yield between Hyperliquid’s Assistance Fund and growth, with reserves managed via Bridge, BlackRock, and Superstate. The next test for USDH would be whether it could break the…
In brief Gemini started trading on the Nasdaq at an approximately $4.4 billion valuation. The firm’s share price opened at $37.01, rising from the $28 offering price. Crypto lender Figure also registered a post-IPO pop on Thursday. Gemini debuted on the Nasdaq at a roughly $4.4 billion valuation on Friday, as the crypto exchange’s shares…
In brief Allied Gaming & Entertainment has started investing into Bitcoin and Ethereum for its treasury. The publicly traded firm’s stock price briefly doubled on Friday following the announcement. Many companies have started amassing crypto, following the model pioneered by Bitcoin giant Strategy. Allied Gaming & Entertainment, a Nasdaq-listed esports and gaming company, announced that…
Stablecoin giant Tether furthered its push into the United States on Friday, announcing a previously teased U.S.-specific stablecoin designed to comply with new laws. The token project, dubbed USAT, will be led by Bo Hines, former executive director of the White House’s digital assets working group. Hines will serve as USAT’s CEO from Charlotte, North Carolina,…
In brief The U.S. DOJ has filed a civil forfeiture action to recover over $500,000 in USDT from an Iranian national. Per the DOJ, Mohammad Abedini is founder of Iranian firm SDRA, which supplies technology used in Iran’s Shahed military drones. The USDT tokens were said to be kept in an unhosted cryptocurrency wallet, posing questions…
In brief The price of Dogecoin has risen by nearly 20% over the last week. A publicly traded Dogecoin treasury has announced $125 million worth of DOGE purchases this week. Rex-Osprey will launch a Dogecoin ETF in the U.S. on Friday. Dogecoin is one of crypto’s biggest gainers over the last week, beating majors like…
In brief Figure shares closed 24% above their IPO price at $31.11 on Thursday. The company uses a blockchain-based platform to facilitate loans. Analysts foresee the IPO advancing tokenization narratives in the mainstream. Figure Technologies shares closed above its initial offering price on Thursday, the latest indication of investors’ interest in crypto-native firms on Wall…
In brief SharpLink Gaming’s treasury strategy will be a positive “white swan event” for Ethereum as it helps educate traditional players, its co-CEO told Decrypt. Some industry observers fear that the crypto treasury trend could end badly for the industry, as swarms of companies have started stockpiling digital assets this year. Joseph Chalom, co-CEO of…
In brief Sen. John Kennedy (R-LA) said the Senate is “not ready” for sweeping crypto market rules, warning lawmakers still have “a lot of questions.” Sen. Tim Scott (R-SC), chair of Senate Banking, has insisted on a September 30 markup, despite pushback from Democrats and fellow Republicans. Policy experts say rushing a “full leap” bill…
