‘Stablecoins Are Not Pegged to $1. Period,’ Says NYDIG After $500B Market Drawdown

NYDIG is calling time on what it says is one of crypto’s most persistent myths: that stablecoins are pegged to the U.S. dollar. In a post-mortem on last week’s $500 billion crypto market sell-off, the bitcoin-focused financial services firm’s Global Head of Research Greg Cipolaro pointed to the instability of supposedly stable assets like USDC,…

Japan’s Mega Banks to Jointly Issue Yen-Pegged Stablecoin

Three of Japan’s largest banks reportedly plan to jointly issue a yen-pegged stablecoin, contributing to the region’s growing adoption of crypto technology within its financial infrastructure.  Nikkei reported on Friday that Mitsubishi UFJ Financial Group (MUFG), Bank Sumitomo Mitsui Banking Corp. (SMBC) and Mizuho Bank plan to modernize corporate settlements and reduce transaction costs through…

Can Ethereum Reclaim $4,500 in October?

Key takeaways: Ether’s rebound from a key support confluence puts $4,500 back within reach. MVRV bands show ETH price holding above support, and eyeing a rally to $5,000. Ethereum’s native token, Ether (ETH), has rebounded by more than 15% two weeks after plunging to its two-month low of $3,435. Multiple indicators now hint that ETH…

China Tech Giants Halt Hong Kong Stablecoin Plans Amid Beijing Concerns

Chinese technology giants, including Ant Group and JD.com, have reportedly suspended plans to issue stablecoins in Hong Kong after regulators in Beijing voiced concerns over privately controlled digital currencies. The companies were instructed by the People’s Bank of China (PBoC) and the Cyberspace Administration of China (CAC) to pause these initiatives, the Financial Times reported…

Can Ethereum Reclaim $4,500 in October?

Key takeaways: Ether’s rebound from a key support confluence puts $4,500 back within reach. MVRV bands show ETH price holding above support, and eyeing a rally to $5,000. Ethereum’s native token, Ether (ETH), has rebounded by more than 15% two weeks after plunging to its two-month low of $3,435. Multiple indicators now hint that ETH…

China Tech Giants Halt Hong Kong Stablecoin Plans Amid Beijing Concerns

Chinese technology giants, including Ant Group and JD.com, have reportedly suspended plans to issue stablecoins in Hong Kong after regulators in Beijing voiced concerns over privately controlled digital currencies. The companies were instructed by the People’s Bank of China (PBoC) and the Cyberspace Administration of China (CAC) to pause these initiatives, the Financial Times reported…

Japan’s FSA May Let Banks Hold Bitcoin and Other Cryptocurrencies

Japan’s Financial Services Agency (FSA) is reportedly preparing to review regulations that could allow banks to acquire and hold cryptocurrencies such as Bitcoin for investment purposes. The move would mark a major policy shift, as current supervisory guidelines, revised in 2020, effectively ban banks from holding crypto due to volatility risks, according to a Sunday…

L1 Is The New Battleground, And The Playing Field Isn’t Even

Opinion by: Ray Song, founder at aPriori When you’ve been around markets long enough, you start to see patterns. The tools we trade on and the rails we build on are never static. In crypto, one of the biggest shifts happening right now is at the base layer. For years, the layer 1 conversation was…

BitMine Buys $1.5B In Ether As Tom Lee Remains Bullish On ETH

Fundstrat’s Tom Lee has echoed the sentiment that digital asset treasury hype may be coming to an end, but remains bullish on Ether, having purchased $1.5 billion worth since the market crash. BitMine Immersion Technologies has scooped up a total of 379,271 Ether (ETH) worth almost $1.5 billion since the record crypto market liquidation event…

Japan’s FSA May Let Banks Hold Bitcoin and Other Cryptocurrencies

Japan’s Financial Services Agency (FSA) is reportedly preparing to review regulations that could allow banks to acquire and hold cryptocurrencies such as Bitcoin for investment purposes. The move would mark a major policy shift, as current supervisory guidelines, revised in 2020, effectively ban banks from holding crypto due to volatility risks, according to a Sunday…