Everything web3, crypto, defi, degen
In brief World Liberty Financial is an Ethereum-based DeFi project co-founded by U.S. President Donald Trump and his sons. The platform, which aims to “keep the dollar digital” and provide “loans for institutions and everyday users,” has launched a stablecoin called USD1. The Trump family’s involvement in World Liberty Financial and other crypto projects has…
By Arjun Sethi, Kraken co-CEO The illusion of liquidity It happened in September 2019 when overnight repo rates spiked to 10%. It happened in March 2020 when Treasury markets seized and the world’s benchmark “risk free” asset had no bid. It happened again in March 2023 when regional banks failed and the Fed had to…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors very red as Bitcoin hits 4-month low at $105,700 ETFs see biggest outflows since August with $530.9M Charles Schwab plans…
In brief Coinbase is launching an all-in-one financial platform for small and medium businesses to receive crypto, manage assets, and earn up to 4.1% APY on USDC stablecoins. The platform includes instant settlements, QuickBooks and Xero integrations, and self-service onboarding with approval in as little as two days. Coinbase Business competes with fintechs like Mercury…
In brief Ripple has bought corporate treasury management firm GTreasury for $1 billion. It’s Ripple’s third major acquisition this year after buying primer brokerage Hidden Road and stablecoin platform Rail. Ripple CEO Brad Garlinghouse said the deal would reduce friction and costs of “outdated payments systems.” Fintech Ripple announced Thursday that it bought software firm…
In brief BlackRock will adapt one of its money market funds to specifically serve stablecoin issuers under the recently passed GENIUS Act. The fund will be an approved reserve asset U.S. stablecoin issuers can use to back their dollar-pegged tokens. The firm says it made the move after receiving increased demand from stablecoin issuers for…
In brief Visa reports stablecoins have originated $670 billion in lending over five years, with average loan sizes rising from $76,000 to $121,000. USDC and USDT dominate stablecoin lending, mirroring their share of the $307 billion total stablecoin market. The IMF warns that stablecoin growth could lead to excessive risk-taking and financial system vulnerabilities. Payments…
In brief Bitcoin broke below $110,000 Thursday morning, dragging top altcoins down in a broad sell-off. The drop triggered $524 million in liquidations as the total market cap fell 3.1% to $3.85 trillion. Options data shows heavy bearish betting, with traders pricing in more downside risk. The cryptocurrency market extended its losses on Thursday with…
Morning Minute is a daily newsletter written by Tyler Warner. The analysis and opinions expressed are his own and do not necessarily reflect those of Decrypt. Subscribe to the Morning Minute on Substack.GM!Today’s top news: Crypto majors red again as Trump confirms trade war; Bitcoin at $111,200 Paxos accidentally mints $300T PYUSD onchain before burning Erebor Bank…
In brief The Financial Stability Board’s review of nearly 40 jurisdictions found “significant gaps and inconsistencies” in crypto regulations that threaten financial stability. A separate European Banking Authority report revealed crypto firms engaging in regulatory “forum shopping” across EU member states. Cross-border cooperation remains “fragmented, inconsistent, and insufficient,” with authorities struggling to share information due…
