How Binance Dollars Became Venezuela’s Currency

Key takeaways:  With inflation at 229%, daily prices in Venezuela are set in USDT “Binance dollars,” usually at live P2P rates. Three dollar rates exist (official, parallel and P2P), but merchants mostly follow the P2P quote. The government tolerates dollar-backed crypto in exchanges, though it hasn’t legalized dollarization. Venezuela is a global crypto hotspot: Stablecoins…

Bitcoin Rallied To A New High On Sunday

Today in crypto, Bitcoin rallied to a new high on Sunday, Stripe CEO says stablecoins will force banks to offer users real interest on deposits, and US-listed spot Bitcoin exchange-traded funds (ETFs) kicked off October with billions in inflows. Bitcoin rally to $125,000 fueled by US gov’t shutdown, macro factors: Analysts Bitcoin breached a new…

Crypto Trader Turns $3k Into $2M, Nets 650x On CZ Memecoin Post

A lucky cryptocurrency trader turned a $3,000 investment into roughly $2 million within hours after Binance co-founder Changpeng “CZ” Zhao shared a post about a BNB Chain memecoin on X. Blockchain data shows the trader, identified by wallet address “0x872,” was one of the earliest buyers of the newly launched “4” ($4) token, according to…

Walmart-Owned Bank App OnePay to Add Crypto Support: Report

OnePay, a banking app majority-owned by Walmart, will soon roll out crypto support, according to CNBC. According to a Friday CNBC report citing anonymous sources, OnePay will soon offer cryptocurrency trading and custody to its users. The app is expected to support Bitcoin (BTC) and Ether (ETH) later this year. OnePay has positioned itself as…

Bitcoin ETFs UP, Bitcoin And Stablecoin News

Today in crypto, Stripe CEO says stablecoins will force banks to offer users real interest on deposits, US-listed spot Bitcoin exchange-traded funds (ETFs) kicked off October with billions in inflows, and a crypto executive predicted the Bitcoin price cycle will endure. Stripe CEO says stablecoins will force banks to offer users competitive interest on deposits…

Watch These Key Bitcoin Metrics as BTC Price Prepares for ‘Big Move’

Key takeaways: The stablecoin SSR RSI signals “buy,” indicating high buying power. Long-term Bitcoin holders have accumulated 298,000 BTC. Bitcoin’s green September close historically precedes Q4 rallies, averaging 78% gains. Bitcoin (BTC) whipsawed through September, but managed to close the month 5% higher at $114,000 on Tuesday. Several key indicators now suggest that the recent…

Stablecoin Yield Means Banks Must Now offer Customers Real Interest

Stablecoins, tokenized versions of fiat currencies that move on blockchain rails, will eventually force banks and other financial institutions to offer customers yields on their deposits to remain competitive, according to Patrick Collison, CEO of payments company Stripe. The average interest rate for US savings accounts is 0.40%, and in the EU, the average rate…

Bitcoin Exchange Balance Drops To Six-Year Low Amid Shortage

The amount of Bitcoin held on centralized exchanges has plunged to a six-year low as the asset climbed to a new all-time high. Bitcoin notched a new all-time high on Sunday morning, reaching a little over $125,700 on Coinbase, according to Tradingview. Its previous peak was $124,500 on Coinbase on Aug. 14. Bitcoin (BTC) pulled…

Bitcoin at Historic Highs: What Next?

This is an analysis post by CoinDesk analyst and Chartered Market Technician Omkar Godbole. As bitcoin BTC$124,695.98 trades in uncharted territory near record highs, traders may be searching for cues on what comes next, especially key levels that could act as magnets or resistance points. Here are three important levels worth watching closely. $126,100 This…

Solana Is The New Wall Street For Tokenization

Chief investment officer of crypto asset management firm Bitwise, Matt Hougan, thinks Solana will be the Wall Street network of choice for stablecoins and real-world asset tokenization. “I think Solana is the new Wall Street,” said Hougan, speaking with Solana Labs’ Akshay Rajan on Oct. 2. He added that the Wall Street audiences consider Bitcoin…