@WorldLibertyFinancial’s USD1 stablecoin is now 93% utilized, affecting retail depositors’ withdrawals. The company repaid $25M and minted an equal amount while facing litigation with Justin Sun. #Update #Crypto $USD1
Onchain dollars are shifting towards real assets like money market funds and U.S. treasuries, with tokenized assets now valued in billions, indicating a move away from circular yield mechanisms. #Update #Crypto $USDT
Kraken enables USDCx deposits and withdrawals on Canton Network, a Layer 1 blockchain for regulated financial institutions with privacy features. USDCx is backed 1:1 by $USDC. #Update #Crypto $USDC
BA Labs proposes doubling LITE-PSM-USDC-A parameters in Sky stablecoin system, increasing daily refresh capacity to 1.6B and serving capacity to 2.4B; pending Executive Vote approval. #Update #Crypto $USDC
Kraken now supports USDCx deposits and withdrawals on the Canton Network, enhancing stablecoin infrastructure for institutional finance. USDCx is backed 1:1 by USDC in Circle’s xReserve. #Update #Crypto $USDC
@Sygnum reports banks are integrating stablecoins and tokenized assets to meet institutional demand for multi-asset flexibility, focusing on interoperability under a trusted regulatory framework. #Update #Crypto $USDC
Tether led a $1.4 billion funding round for Neura Robotics, enhancing AI-powered robots with digital wallets for automatic payments, aiming to produce 5 million by 2030. #Update #Crypto $USDT
@Netomi CEO Puneet Mehta forecasts the customer experience market will reach $5 trillion by 2030, potentially increasing demand for stablecoins and blockchain payments. #Update #Crypto $USDC
Japan’s three largest banks, @MitsubishiUFJ, @SMBCGroup, and @MizuhoFG, plan to issue a stablecoin by March 2024, supported by the Financial Services Agency. #Update #Crypto $USDT
@Tether’s US Treasury exposure exceeds $141 billion, making it the largest non-sovereign holder of US debt, raising concerns about stablecoin risks in mainstream finance. #Update #Crypto $USDT
@Abra’s Bill Barhydt announces plans for a public listing via SPAC, valuing the company at $750M, with a focus on tokenization and crypto banking services. #Update #Crypto $BTC $ETH
@Meta is paying creators in USDC across Colombia and the Philippines, but off-ramp complexities remain, impacting usability for users needing to convert to local currencies. #Update #Crypto $USDC
America’s largest banks, including @JPMorgan and @BankofAmerica, plan a tokenized deposit network by 2027 to compete with stablecoins like $USDC and $USDT, enhancing global payment efficiency. #Update #Crypto $USDC
Russia has sanctioned a British teenager for alleging the use of the A7A5 stablecoin to fund Ukraine’s war efforts, designed to circumvent sanctions imposed after Russia’s 2022 invasion. #Breaking #Legal $USDT
