Paul Ryan backs stablecoin regulation to tackle $34.7 trillion U.S. debt crisis. Stablecoins, pegged to assets like the USD, are vital for DeFi and global financial stability. Bipartisan support from @PatrickMcHenry and @RepMaxineWaters aims to establish a legal framework. #economy
? Tether mints 3B $USDT in a week, with 1.75B flowing to major exchanges like @krakenfx, @binance, and @coinbase. This significant liquidity influx may signal upcoming market volatility and potential crypto bull run. #CryptoNews #Tether
? Tron’s ($TRX) daily revenue hits $3.84M, surpassing Ethereum ($ETH) and Solana ($SOL), driven by the SunPump craze. Over 20,883 memecoins launched, with early investors seeing substantial profits, one gaining $20M from SUNDOG tokens. #crypto
? German Watchdog BaFin seizes 13 unlicensed crypto ATMs in a crackdown on money laundering, confiscating €250,000. Unlicensed operations risk up to 5 years in prison. Regulatory compliance in the crypto sector is crucial. #Crypto #AML #Germany
? Tether launches new $AED stablecoin, pegged 1:1 to UAE Dirham, to streamline regional transactions and trade, reduce fees, and mitigate currency risks. This move aligns with Abu Dhabi’s proposed regulatory framework for fiat-referenced tokens. #CryptoNews
Tether ($USDT) teams up with Phoenix Group and Green Acorn Investments to launch an AED-pegged stablecoin, fully backed by UAE liquid reserves. This aims to streamline international trade, reduce transaction fees, and hedge against currency volatility.
El Salvador’s @ONBTC to certify 80,000 civil servants in $BTC and blockchain tech, integrating crypto education into public schools. This initiative aligns with the country’s $1.6B Bitcoin City investment, aiming for widespread Bitcoin literacy.
$BITF to acquire Stronghold Digital Mining for $164M, offering 2.5 BITF shares per Stronghold share. The move aims to boost Bitfarms’ mining capacity amid Stronghold’s $21.3M Q2 loss post-Bitcoin halving. Bitcoin hashrate hits record 638 EH/s. #CryptoNews
Montenegrin police arrest FutureNet co-founder Roman Zeman in Podgorica. Zeman, wanted by Poland and South Korea for financial fraud and money laundering, allegedly defrauded 2,000 people of $21M through the $FuturoCoin crypto pyramid scheme. #CryptoCrime
Trader loses $55.4M in $DAI to sophisticated phishing attack via Inferno Drainer exploit. Hacker transferred Maker vault ownership and minted 55M+ DAI tokens before Inferno Drainer’s service discontinuation, highlighting urgent need for enhanced crypto security measures.
? Terra’s Chapter 11 bankruptcy hearing is set for Sept. 19, 10:00 AM ET. $LUNA price rose 2%, $LUNC trading volume surged 38%. Terra plans to burn tokens to reduce supply and potentially boost value. Investors, stay tuned! ? #CryptoNews
Malaysia Crushes 985 Bitcoin Mining Rigs worth $427K to Combat Illegal Activities. Authorities’ steamroller operation underlines commitment to reducing electricity theft, cutting illegal mining cases from 9 in 2022 to 1 in 2024. #Bitcoin #Cryptocurrency #Malaysia
Cardano ($ADA) plans the Chang hard fork for Aug. 27, with Sept. 3 as a backup. The upgrade, featuring PlutusV3 for enhanced security and governance, sees 80% node adoption but only 34% exchange liquidity. #Crypto #Blockchain
Galaxy Digital invests $82M in Bitcoin, acquiring 1380 BTC. Despite Bitcoin’s struggle to stay above $60K, strong institutional interest and technical patterns suggest potential for a price rally. Market analysts remain optimistic amid ongoing volatility. $BTC @GalaxyDigitalLP
