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The price of the U.S. dollar weakened during the first week after lifting the currency controls in Argentina, with the peso gaining ground and stabilizing at an exchange rate of 1,160 pesos per dollar. The rate, which is closer to the stronger side of the established fluctuation band, has spurred speculation about a possible intervention … Read more
Recent data indicates a breakdown in the dollar’s traditional correlation with other markets, as investors seek refuge in currencies like the Swiss franc and Japanese yen, which have recently strengthened. Thierry Wizman, global FX and rates strategist at Macquarie Group, stated that Trump’s tariffs policy shake-up not only threatens the dollar’s status as a safe … Read more
Mike Novogratz’s Galaxy Ventures Fund I LP has exceeded its initial fundraising goal of $150 million, with expectations to close between $175 million and $180 million by the end of June, according to a Bloomberg report. The fund, which focuses on early-stage startups with an emphasis on payments and stablecoins, is closing at a time … Read more
Dubai-based DWF Labs has announced a strategic expansion into the United States with the opening of a new office in New York City, alongside a $25 million purchase of World Liberty Financial (WLFI) governance tokens. The investment in WLFI, a decentralized finance protocol backed by President Trump, highlights DWF Labs’ commitment to participating in governance. … Read more
A senior official from Russia’s Finance Ministry has suggested that the country should develop its own stablecoins pegged to various currencies following the recent blocking of USDT stablecoin wallets linked to Russia. Dollar-pegged stablecoins have gained popularity for facilitating fund transfers between cryptocurrencies and cash, especially as Western sanctions have complicated international payments for Russian … Read more
OKX has officially announced its launch in the United States, introducing a centralized cryptocurrency exchange and the OKX Wallet, with its regional headquarters established in San Jose, California. Roshan Robert has been appointed as the US CEO, emphasizing the company’s commitment to enhancing access to digital assets in a secure and compliant manner. The phased … Read more
Layer 2 payments blockchain Fuse has announced a partnership with Check Point Software Technologies Ltd. (NASDAQ: CHKP) to develop and deploy a real-time threat prevention security layer for its blockchain. This collaboration aims to secure smart contracts and wallets by identifying and mitigating threats before they can develop, shifting blockchain defense from detection to proactive … Read more
Ethena GmbH has been ordered by the German Federal Financial Supervisory Authority (BaFin) to wind up its business related to the issuance of its USDe tokens. BaFin revealed it found serious deficiencies in Ethena GmbH’s operations during the authorization procedure and imposed sanctions, leading to the requirement for the company to reverse its USDe token … Read more
European rating agency Scope has issued a warning regarding a potential downgrade of the US sovereign credit rating due to uncertainty surrounding US trade policy. The agency outlines three possible scenarios for the credit outlook: a “tariff-light” approach, a full-scale trade war, or a broader economic and financial crisis that could include the introduction of … Read more
JPMorgan added British pound-denominated accounts to its blockchain-based payments network, Kinexys, aiming to fill a gap left by the stablecoin market’s predominant focus on the U.S. dollar. Kinexys enables corporate clients to transfer funds between JPMorgan accounts and currently processes over $2 billion in daily transactions. The GBP expansion follows the network’s recent capability to … Read more