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 Coinbase plans to introduce tokenized stocks backed one-for-one by underlying U.S. equities, allowing users to own, trade, hold and redeem equities on a blockchain while receiving dividends automatically. CEO Brian Armstrong said the new products differ from many existing tokenized stock offerings by providing direct equity ownership rather than derivative or synthetic exposure. The
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 $GENIUS Act framework. The move intensifies competition among major asset managers such as BlackRock, Franklin Templeton, Fidelity and JPMorgan to oversee the Treasury bills, cash and money market funds that
The leading cryptocurrency, Bitcoin ($BTC), surged above $66,000 following news of a potential agreement between the US and Iran. While talk of a bottom for $BTC, which has recovered for the second time from $60,000, is increasing, Wintermute notes that it’s still too early to say Bitcoin has hit the bottom. Wintermute, a leading market
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%).