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Stablecoin issuer Tether (USDT) is reportedly looking to return to the US with a new dollar-pegged digital asset. According to a new report by CNBC, the world’s largest stablecoin issuer is looking to launch a new crypto asset pegged to the US dollar by the end of the year as its chief executive continues to influence national crypto policies. News of the new stablecoins was confirmed by Tether CEO Paolo Ardoino in an interview with CNBC. According to Ardoino, Tether – which is headquartered in El Salvador – is attempting to rebrand itself as being cooperative with law enforcement, as it was previously known as the “go-to” crypto for criminal activity. The report says that Ardoino may have helped shape key legislation, such as the GENIUS Act – a bill that aims to give clear guidelines for stablecoins – and added provisions for Tether to help law enforcement. As stated by Ardoino, according to CNBC, “There is no company… even in the tradi...

Ethereum, the second-largest cryptocurrency by market value, has historically followed a consistent pattern in February. Since its introduction in 2017, Ethereum’s price has closed positively every February except one.  This recurring trend has led many crypto analysts to consider February a bullish period for Ethereum, often using it as an indicator for broader altcoin market trends.  In light of this, investors are searching for more affordable tokens to capitalize on the current market growth, particularly the best altcoins to buy now . 5 Best Altcoins to Buy Now Dai (DAI), a stablecoin, continues to maintain its value close to $1, with its current price at $0.9999 and a slight daily growth of 0.03%. Meanwhile, Cronos has introduced a new betting platform called CroCrash, which can be accessed via crocrash.io. The Render Network has also announced various initiatives to increase its presence in artificial intelligence and decentralized rendering. Additionally, the...

XRP surged over 6% in the last 24 hours after Ripple CEO Brad Garlinghouse announced the company’s RLUSD stablecoin received regulatory approval from the New York State Department of Financial Services (NYDFS). “This just in…we have final approval from NYDFS for RLUSD! Exchange and partner listings will be live soon,” Garlinghouse said in a Dec. 10 X post . XRP Outperforms Bitcoin And Ethereum With the recent gain, XRP managed to outperform crypto market leaders Bitcoin (BTC) and Ethereum (ETH) in the last 24 hours as well. Leading crypto BTC only experienced a minor uptick in price during the same period, while ETH saw its price drop over 2%. XRP reached a 24-hour high of $2.41 after dropping to an intraday-low of $1.91. It has since retraced slightly to trade at $2.30 as of 2:55 a.m. EST. The gain posted throughout the past trading day also added to the crypto’s positive monthly streak. As a result, the crypto is up more than 299% over the past 30 ...

Aave Labs has published a new governance proposal for integrating the GHO stablecoin across multiple blockchain networks. In a forum post on Jan. 17, Aave Labs, a firm behind the Aave protocol, revealed a new governance proposal to integrate the GHO stablecoin across multiple blockchains. The initiative, as outlined by Aave Labs, is geared towards “enhancing GHO liquidity, accessibility, and interoperability while maintaining security and stability.” Example of CCIP implementation | Source: Aave You might also like: Aave’s stablecoin GHO hits minting limit Aave Labs particularly proposes utilizing Chainlink‘s Cross-Chain Interoperability Protocol (CCIP), a solution for both communication and interaction between different blockchain networks, noting that GHO is currently limited for wide use as it is primarily accessible only via minting on the Ethereum mainnet, representing a “significant constraint in its potential reach and utility across defi...

In November 2023, the capitalization of the stable coin sector grew by 3% – from $120 billion to $124.05 billion. According to the Coin Metrics report, such indicators could indicate a steady flow of capital into the market. As can be seen in the graph, this is the first sustained upward jump in the indicator since April-May 2022. For the most part, the positive dynamics are due to the increase in USDT capitalization – by more than $7 billion since mid-August 2023. Source: Coin Metrics You might also like: BlackRock spotlights stable coin risks in Bitcoin ETF filing At the same time, not only the capitalization of the asset increased, but also the number of its large holders, Coin Metrics notes. The number of addresses holding more than $100,000 in USDT has increased sharply on the Tron network and remains relatively stable on Ethereum. The same cannot be said about USDC, a direct competitor of USDT, the report emphasizes. Source: Coin Metrics In a...

Hong Kong will not allow retail investors to trade stablecoins until they are officially regulated, which is projected to happen by the end of 2024. As Hong Kong progresses with the adoption of cryptocurrency trading for individual investors, a local official stressed that retail stablecoin trading is not yet allowed . Hong Kong has not adopted regulations for stablecoins like Tether (USDT) or USD Coin (USDC), which means retail investors are not allowed to trade those assets, according to Hong Kong’s Secretary for Financial Services and the Treasury, Christian Hui. The official provided remarks on cryptocurrency regulation in Hong Kong during an online investment committee meeting on Oct. 6, the local news agency Ming Pao reported. Cryptocurrency service providers have been broadly using stablecoin s like USDT as a major trading asset because their value is designed to be stabilized by the peg to United States dollars or assets like gold, Hui said. However, some stablecoin s hav...

Circle’s USDC is now available natively on Base and Optimism, and Coinbase accounts can transfer the stablecoin to Base for the first time. Circle’s USD Coin (USDC) has launched natively on both Base and Optimism networks , allowing Circle account holders to send USDC stablecoin from their accounts to Base or Optimism. Coinbase has also made USDC transfers to Base available, according to a Sept. 5 social media post. Circle claimed that it is working with “ecosystem partners” to develop a system for users to swap old, bridged versions of USDC for the new, official versions. 1/ It’s here. #StableSeptember. The day you’ve all been waiting for - what comes first? How about two launches on the same day? Introducing $USDC on @optimismFND and USDC on @BuildOnBase, two leading L2 scaling solutions for Ethereum built on the OP Stack. pic.twitter.com/v3SgJBZ7qG — Circle (@circle) September 5, 2023 Coinbase’s Base network launched on Aug. 9. But at launch, Coinbase users could not send USDC ...

USDC has been in the headlines recently due to Coinbase. The cryptocurrency exchange had also recently acquired a stake in USDC. The second-largest stablecoin, USDC, is set to dramatically expand its blockchain integration, deploying on six more networks soon, according to sources. Also Read: Ripple: Attorney Claims Lawsuit Hindered XRP Adoption by 3 Years USDC reportedly launching on six blockchains USDC is reportedly launching on Polygon PoS, Base, Polkadot, NEAR, Optimism, and Cosmos via the Noble Network. This is in addition to its existing presence on Ethereum, Avalanche, and other leading chains. The move could significantly boost the adoption and utility of the second-largest stablecoin. More blockchain access provides easier on-ramps for user funds and opens up integration with DeFi protocols on new networks. Also read: BIS Cautions Developing Economies on Crypto’s Financial Stability Threat According to a recent official statement, it has been announc...

US Federal Reserve unveils Novel Activities Supervision program to oversee banks ’ crypto -related activities, emphasizing stablecoin safeguards. The initiative‘s main goal will be to supervise the banks’ activities related to cryptocurrencies, such as custody, lending, trading, and the issuance or distribution of digital assets. The institution will guide the banks before engaging in activities related to cryptocurrency. The Fed said that the goal of the law is to foster the benefits of financial innovation while recognizing the risks of working with crypto currency. The program will be subject to the existing supervisory processes of the US Federal Reserve. The new initiative launched by the Fed does not add to or modify the current rules for banks dealing with cryptocurrency in the US.  You might also like: New York Federal Reserve, major U.S. banks successfully complete private test using DLT Stablecoins supervision The institution also issued info...

Circle’s CEO, Jeremy Allaire, unveiled that approximately 70% of USDC adoption occurs outside the United States.  Despite the perception that USDC primarily caters to the US market, emerging economies and developing regions emerge as strongholds for this stablecoin. Allaire stated that an estimated 70% of USDC adoption is non-US, and some of the fastest-growing areas are emerging and developing markets. Despite the hype that we're all about the US, we estimate that 70% of USDC adoption is non-US, and some of the fastest growing areas are emerging and developing markets. Strong progress happening across Asia, LATAM and Africa. Demand for safe, transparent digital dollars is… — Jeremy Allaire (@jerallaire) August 7, 2023 He underscored the vigorous progress made across Asia, Latin America, and Africa. This statement aligns with Paolo Ardoino, the CTO of Tether. Ardoino had earlier emphasized that Tether’s USDT can be a safe instrument for emerging markets ...

The U.S. must capitalize on the “high demand” for digitally native U.S. dollars, particularly from those in emerging economies with weak local banking systems, the Circle CEO said. The United States must implement Stablecoin legislation and digitize the U.S. dollar (USD) to mitigate the “very active de-dollarization taking place” around the world right now, says Jeremy Allaire, the chief executive of Stablecoin issuer Circle. Allaire’s comments at the Consensus 2023 conference on Wednesday, April 25, were made in light of the recent U.S. banking crisis. The Circle — the stablecoin issuer behind USD Coin (USDC) — CEO called on Congress and the Federal Reserve to take action otherwise alternative currencies and payment systems will continue to eat into the dollar’s dominance: “We have a very active de-dollarization taking place. You're having very significant reactions to the U.S. risks in the U.S. banking system, risks with the US government itself, a geopolitical imposition on ...

Bitcoin price continues to press higher this week as demand for stablecoins and a key BTC price metric suggests bulls have a “healthy appetite.” Bitcoin (BTC) rallied 11% between Jan. 20 and Jan. 21, reaching the $23,000 level and shattering bears' expectations for a pullback to $20,000. Even more notable is the move brought demand from Asia-based retail investors according to data from a key stablecoin premium indicator. Traders should note that the tech-heavy Nasdaq-100 index also gained 5.1% between Jan. 20 and Jan. 23, fueled by investors' hope in China reopening for business after temporary shutdowns caused by the CCP’s virus contagion measures and weaker than expected economic data in the U.S. and the Eurozone. Another bit of bullish information came on Jan. 20 after U.S. Federal Reserve governor Christopher Waller reinforced the market expectation of a 25 basis point interest rate increase in February. A handful of heavyweight companies are expected to report their lat...