The European Union should foster the development of euro-denominated stablecoins to compete with US dollar-denominated tokens, according to Pierre Gramegna, the managing director of the European Stability Mechanism (ESM), an economic crisis organization for the EU. “Europe should not be dependent on US dollar-denominated stablecoins, which are currently dominating markets,” Gramegna said at Thursday’s hearing
Peru’s banking regulator has authorized a pilot crypto platform, marking the country’s first regulated foray into digital assets. The project, dubbed Cryptococos, will allow select clients of Banco de Crédito del Perú (BCP) to buy and hold Bitcoin and USDC under BitGo’s custody. To participate in the pilot, users must register, prove a minimum banking
Key Takeaways Grayscale has partnered with Figment to introduce staking features for its Ethereum and Solana investment products. The partnership enables Grayscale’s clients to earn staking rewards through technical infrastructure provided by Figment. Grayscale, a digital asset manager, has partnered with Figment, an institutional staking services provider, to enable staking features for its Ethereum and
Grayscale is exposing a problem of staking large reserves of ETH – the waiting time to stake the tokens is growing fast. Grayscale is trying to open its ETP to staking, preparing to deposit up to 300,000 tokens. Grayscale is performing a stress test on whether Ethereum ETF can also add staking. The investment company
Fed Board Member Michael Barr has taken a cautious stance regarding inflation and the monetary policy outlook in his recent statements. Barr noted that consumer spending has remained strong since the September meeting, while core personal consumption expenditures (PCE) inflation continues to rise. “The September rate cut was an appropriate decision, but the current policy
In a YouTube video released Wednesday, U.S. Sen. Bernie Sanders (I-VT) warned that artificial intelligence could erase nearly 100 million American jobs within the next decade, calling it an “issue of enormous consequence” that would deepen inequality unless lawmakers acted. His critique was based on a Senate report released on Monday by the Health, Education,
Interest in digital assets among institutional investors is rapidly growing, according to newly released State Street research. The study found that the share of digital assets like Bitcoin in institutional portfolios is expected to rise from an average of 7% to 16% over the next three years. The study noted that tokenization and blockchain technologies
Analysts at JPMorgan say that stablecoins have the potential to generate at least $1.4 trillion in demand for U.S. dollars by 2027, considering most of the market is backed by the currency. Summary JPMorgan has predicted that the U.S dollar will receive a $1.4 trillion boost in demand following the rising wave of stablecoin adoption.
Wall Street giant Citi (C) initiated coverage of crypto exchange OSL (0863) with a buy/high risk rating and a target price of 21.80 Hong Kong Dollars ($2.80), or 22 times projected 2025 price-to-sales. Citi said OSL is well positioned as a regulated digital-asset trading and payments platform, with strong growth prospects tied to institutional crypto
New York Fed President John Williams has shown his support for additional Fed rate cuts this year. The Fed official alluded to the weakening labor market, suggesting it should take priority over upside risks to inflation right now. The crypto market also continues to price in additional rate cuts this year, which has contributed to