Uphold to launch digital asset-backed loans starting December U.S.-based crypto firm Uphold has proposed crypto loans in XRP, ETH, USDC and BTC. Service rollout. Uphold announced plans to introduce digital asset-backed loans in December, beginning with a Florida launch. On October 28, Uphold revealed plans to launch digital asset-backed loan services beginning in December, starting
Asian and Pacific(APAC) jurisdictions chart divergent digital currency development paths. Some are advancing central bank digital currencies while others embrace private stablecoins. Hong Kong completed its e-HKD pilot program on October 28, while Japan’s JPYC stablecoin surpassed 50 million yen within 48 hours. South Korea warned about depegging risks, and Australia clarified stablecoin regulatory requirements
Securitize, a real-world asset tokenization platform, has unveiled a tokenized fund designed to give investors access to AAA-rated collateralized loan obligations onchain. The fund is being developed in partnership with global investment bank BNY Mellon. According to Wednesday’s announcement, BNY will safeguard the fund’s underlying assets, while a subsidiary of the bank will manage the
Consensys, the blockchain software company behind the MetaMask wallet, plans to go public and has chosen JPMorgan Chase and Goldman Sachs as lead underwriters for its initial public offering, Axios reported Wednesday. The listing would mark one of the most significant public debuts yet by a firm building the infrastructure of Ethereum ETH$4,027.87, the world’s
Key Takeaways Over $300 million was liquidated in the crypto markets due to volatility triggered by the Federal Reserve Chair’s FOMC speech. Lower interest rates may push investment into cryptocurrencies and other alternative assets. The crypto market faced $300 million in liquidations in the past hour as Federal Reserve Chair Jerome Powell delivered remarks during
Cryptocurrency firms have been rushing to issue initial public offerings (IPO) this year; however, they’ve not all been winners for investors who get in when these stocks are finally offered publicly. Among five firms analyzed by Protos — Circle, Galaxy Digital, Bullish, Gemini, and eToro — only two of them — Circle and Galaxy Digital
The Fed lowered the upper band of its policy rate by 25 basis points from 4.25% to 4.00%. This decision was in line with market expectations. The FOMC announced that the balance sheet reduction process will end on December 1st. From that date onward, principal payments from maturing Treasury bonds will be reinvested in auctions.
Key Takeaways $107 million in long positions liquidated within four hours ahead of the FOMC policy announcement. Leverage traders, who use borrowed funds to amplify gains, were heavily impacted by forced closures. Over $107 million in long positions was wiped out of the crypto markets within four hours as leveraged traders faced forced closures amid
US stocks opened higher on Wednesday as Wall Street maintained an upbeat sentiment, with Nvidia becoming the first company to hit the $5 trillion valuation. Summary Nvidia stock jumped more than 5% to see the tech giant become the world’s first $5 trillion company. Wall Street’s uptick saw Nasdaq hit a new high and Dow