Stablecoins, digital currencies pegged to the U.S. dollar, have surged in popularity, but their quiet resilience under slim regulatory scrutiny may signal a deeper role as a testing ground for a central bank digital currency (CBDC). Stablecoins and the Silent Rise of a Central Bank Digital Dollar These blockchain-based tokens, designed to maintain a stable
The San Francisco Bitcoin Meetup holiday party in December 2017 was packed with crypto hopefuls. Bitcoin had just hit nearly $20,000. Ethereum was holding steady above $700. Under the glow of fluorescent lights and an air of optimism, two young men posed for a photo that would become one of crypto’s most enduring snapshots. Frédéric
Bilal Bin Saqib, chief executive of the Pakistan Crypto Council, met with El Salvador’s President Nayib Bukele in San Salvador for crypto cooperation. Pakistan’s interest in digital assets comes as it works under a $7 billion IMF program arranged in 2024 , an arrangement that remains in place through 2027. President Bukele met yesterday at Casa Presidencial with the Minister of
Stablecoin adoption is growing quickly across Europe, now closely following the United States. However, it is not experiencing the type of adoption it was looking for. Today, people throughout the region are primarily opting for USD-backed stablecoins instead of those backed by the euro. As a result, the current dominant stablecoin poses a risk to
Two of the biggest crypto-linked stocks set records on Wednesday, with Coinbase hitting a an all-time high price and both Coinbase and Strategy setting new highs for closing market cap. The stock milestones came amid a surge in crypto prices, with Bitcoin setting multiple all-time highs in recent days, while other major coins like Ethereum
Publicly traded consumer products firm Upexi made a strategic decision to create a digital assets treasury in April, raising $100 million to buy Solana, promptly sending its share price skyrocketing. Now months later, the firm is raising another $200 million in part to acquire more SOL, the native token of the layer-1 network its Chief
Bank of America (BoA) does not expect a recession in the US economy this year and predicts that economic growth will continue at around 1.5% until the end of the year. In a conference call with analysts, Bank CEO Brian Moynihan highlighted the improvement in the market environment in the last quarter, stating that this
Talos, a provider of institutional trading technology, is buying data company Coin Metrics as it looks to widen its services for institutional investors, according to a company press release on Wednesday. The deal adds to a growing list of deals in the crypto M&A space this year. A Talos spokesperson would not confirm the size
In its Beige Book report, compiled by the Boston Fed and released minutes ago, the Fed said the U.S. economy grew slightly from late May to early July. However, the overall economic outlook was assessed as neutral to slightly pessimistic. In the report, only two of the Fed’s 12 districts indicated that they expect an
Snail Games (SNAL), a publicly-traded video game studio, said on Tuesday that it is mulling the development of its own U.S. dollar stablecoin. The company is evaluating the technical, legal, and financial hurdles to issuing a proprietary stablecoin, according to a press release. To support the effort, Snail retained George Cao, founder of the crypto