European Central Bank (ECB) President Christine Lagarde is rallying support for the digital euro as the bloc’s primary tool to counter the growing influence of USD-pegged stablecoins in global payments, dismissing euro-denominated stablecoins as an inadequate alternative. Dollar stablecoins command a market cap of around $317 billion per CoinMarketCap data. Euro stablecoins, on the other
The market value of Elon Musk’s space company is showing confident growth on Nasdaq, with the company’s capitalization rapidly catching up to twice the value of the entire global Bitcoin network. After IPO session closed with a gain of almost 20%, today’s premarket pushed the stock another 11% higher, bringing SpaceX’s total valuation above $2.5
Solana treasury companies are resisting acquisition attempts by Forward Industries, with two firms rejecting proposed combinations and a third allowing its offer to expire without responding. Forward said Monday that Solana Company (HSDT), formerly Helius Medical Technologies, rejected an all-stock proposal that would have given its shareholders 0.386 newly issued Forward shares for each HSDT
Crypto lending platform Nexo has seen its stablecoin balance increase to $8.44 million, marking a 7.5% rise from the previous figure of $7.85 million, according to data shared by blockchain analyst CryptoOnchain. The steady uptick suggests growing user engagement and capital inflows into the Nexo ecosystem, reflecting broader confidence in the platform’s services amid a
The US Federal Open Market Committee (FOMC) interest rate decision is among the top events to watch this week in the broader financial sector, let alone the crypto market. This comes as the red-hot inflation has sparked discussions over the potential next move of the US Federal Reserve with its monetary policy plans.
Summary Ripple invested in African fintech Flutterwave’s new funding round, valuing the company at $3.2 billion. Flutterwave will integrate Ripple’s $RLUSD stablecoin and the $XRP Ledger network into its payments and remittance network. The companies said the partnership could help businesses move money across borders faster and at lower cost. Ripple, the blockchain firm closely
Summary State Street has introduced a government money market fund tailored for stablecoin issuers, aiming to manage the reserves that back digital dollars under the $GENIUS Act framework. The move intensifies competition among major asset managers such as BlackRock, Franklin Templeton, Fidelity and JPMorgan to oversee the Treasury bills, cash and money market funds that
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index. The CoinDesk 20 is currently trading at 1829.21, down 0.7% (-12.13) since 4 p.m. ET on Monday. Six of 20 assets are trading higher. Leaders: UNI (+12.9%) and XLM (+2.7%). Laggards: ADA (-3.4%) and NEAR (-2.5%).