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Eddie Yue, CEO of the Hong Kong Monetary Authority (HKMA), addressed the need for a cautious approach to the development of stablecoins in Hong Kong, emphasizing the importance of avoiding excessive hype surrounding these emerging financial instruments. In his remarks, Yue highlighted concerns about the gap between theoretical discussions and practical applications, noting that many … Read more
Western Union CEO Devin McGranahan stated in a recent interview that stablecoins should be viewed as an opportunity rather than a threat to the company’s business model. He emphasized that stablecoins can facilitate faster and cheaper cross-border transactions, benefiting both the company and its customers. McGranahan told Bloomberg that while stablecoins cannot be directly spent … Read more
Jack Dorsey’s Block, Inc. (NYSE: XYZ) has announced the initiation of onboarding for its first few sellers on Square to facilitate a new native bitcoin acceptance experience. In a social media post, the company’s executive officer expressed enthusiasm for this development, stating, “boom. today we’re onboarding our first few Square sellers for the new native … Read more
Chris Dixon, Managing Partner at Andreessen Horowitz (A16z) Crypto, announced that the firm is leading a $15 million seed round in Poseidon, a company focused on building a decentralized data layer to coordinate supply and demand for artificial intelligence (AI) training data. As the availability of high-quality data for training AI models has diminished, Poseidon … Read more
Wisdomtree has officially launched its own stablecoin, USDW, as part of a broader strategy to establish a full-stack stablecoin business catering to both retail and institutional users. USDW, a U.S. dollar-backed stablecoin designed for transactions, is complemented by WTGXX, a tokenized U.S. government money market fund aimed at providing yield. To enhance accessibility, Wisdomtree has … Read more
The FBI has officially dropped its investigation into Kraken founder Jesse Powell and returned dozens of seized devices, including laptops and cellphones, according to Fortune. The investigation, which stemmed from a management dispute with a non-profit organization Powell founded, had no connection to his operations at the cryptocurrency exchange. Powell expressed relief over the conclusion … Read more
The U.S. Department of Justice and the U.S. Attorney’s Office for the District of Columbia have announced the unsealing of a civil forfeiture action targeting approximately $2 million in digital currency held in accounts with Tether Limited and Binance Holdings LTD, connected to Buy Cash Money and Money Transfer Company, a Gaza-based money transfer business … Read more
Conflux, a Chinese blockchain platform, has announced the launch of a new offshore yuan-backed stablecoin during its Conflux 3.0 network upgrade event in Shanghai. This stablecoin, pegged 1:1 to the offshore Chinese yuan, aims to facilitate cross-border payments, particularly for countries involved in China’s Belt and Road Initiative. Conflux has partnered with fintech firm Anchorx … Read more
JPMorgan Chase is reportedly exploring the possibility of lending against clients’ cryptocurrency holdings, marking a significant shift in the bank’s stance on digital assets, according to the FT. This potential policy change comes as the largest U.S. banks increasingly embrace cryptocurrencies, despite CEO Jamie Dimon’s previous criticisms of bitcoin, which he once labeled a “fraud.” … Read more
Coinsilium Group Limited has announced that its wholly owned subsidiary, Forza Gibraltar Limited, has increased its bitcoin holdings to 112.0009 BTC following a recent acquisition of 10.2489 BTC at an average purchase price of £89,765.73 ($120,826.51) per bitcoin, totaling approximately £920,000 ($1,238,000). This brings the aggregate average purchase price of Forza’s bitcoin holdings to £81,710.15 … Read more
