Crypto critics often warn of digital currencies’ potential to destabilize the U.S. dollar, but Federal Reserve Gov. Christopher Waller argued that stablecoins’ dependence on the dollar could actually strengthen the U.S. fiat currency as decentralized finance (DeFi) catches on.
China’s Currency Woes to Weigh on Bitcoin: Crypto Observer
Measures taken by the People’s Bank of China to cushion yuan against the stock market slide could weigh over bitcoin’s price.
Bitcoin’s ‘De-Dollarization’ Narrative Loses Ground As USD Tightens Its Grip on International Transactions
The crypto market’s de-dollarization expectations look premature as the greenback remained the preferred currency in international transactions in 2023.
Can Crypto Dethrone U.S. Dollar Dominance? Here Is Morgan Stanley’s Take
U.S. monetary policy, combined with the use of economic sanctions, have forced some countries to look for alternatives to the dollar, while growth of stablecoins may have emphasized the need of the fiat currency, the bank said.
Crypto payments: PayPal’s stablecoin ripple effect on markets
Earlier this year, PayPal released its own stablecoin. What effect has it had on crypto adoption?
Binance will end support for BUSD stablecoin in December
Many users’ Binance USD balances will automatically be converted into First Digital USD starting on Dec. 31.
Tether credits USDT growth surge to ETF excitement, emerging markets
Tether USDT added at least $20 billion to its market capitalization in 2023, while rival stablecoin USDC lost the same amount so far this year.
Stablecoin firm Tether minted 4B USDT in 4 weeks: Data
Tether has minted 4 billion USDT over the past month, which accounts for nearly 18% of all USDT issued so far in 2023.
Tether issues $610M debt financing to Bitcoin miner Northern Data
In September 2023, Tether also invested an undisclosed amount in Northern Data in a move backing AI initiatives.
Hong Kong advances CBDC pilot, bringing e-HKD trials to Phase 2
e-HKD Phase 1 trial was dedicated to full-fledged payments, programmable payments, offline payments, tokenized deposits, settlement of Web3 transactions and settlement of tokenized assets.
Stablecoin market escaping US regulatory oversight: Chainalysis
Stablecoin activity has been increasingly occurring through entities that aren’t licensed in the United States, according to Chainalysis.
BTC price nears 2023 highs — 5 things to know in Bitcoin this week
Bitcoin is back near its year-to-date highs, but BTC price moves belie an underlying lack of support, analysis fears.
Fed governor Bowman doubles down on CBDC skepticism, likes stablecoin no better
Michelle Bowman told a university audience that financial innovation should be justified by need and be properly regulated.
Binance.US asks users to convert USD into stablecoins for withdrawals
Binance.US users “may convert” their U.S. dollar holdings to stablecoins or other digital assets to withdraw the funds from their accounts, the firm said.
Tether stablecoin firm appoints CTO Paolo Ardoino as CEO
The change in leadership at Tether reflects its commitment to actively exploring new business operations, the company said.
PayPal rolls out PYUSD stablecoin to Venmo users
The payments platform said PayPal USD will be “rolling out fully in the coming weeks” after announcing its launch on Venmo.
Bitcoin at $25K: Discount or disaster?
This week, The Market Report discusses Bitcoin’s recent dip below $25,000 and what it means for the near future. Was it a discount or a disaster?
Palau to freeze USD-backed stablecoin after pilot launch in July
Palau’s USD-backed stablecoin build on XRP Ledger will be frozen on Sept. 15 as the government will be collecting feedback from users to shape the way ahead.
Here’s why Bitcoin will hit $22K soon
This week, The Market Report discusses why $22,000 is the next logical step for Bitcoin and why BitMEX co-founder Arthur Hayes claims the bull market started back in March.
When will it be too late to invest in Bitcoin?
This week’s episode of Market Talks discusses whether it will ever be “too late” to buy Bitcoin and why BTC could take over the financial world.