Bitcoin’s price briefly dipped to an intraday low of $59,860 shortly after 9 a.m. EDT on Oct. 3, 2024. As of 1 p.m., the cryptocurrency is trading above the $60,000 mark, though it continues to face challenges in maintaining this key psychological level. Crypto Market Sell-Off Drives Traders to Stablecoins At 1 p.m. EDT on…
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Jonathan Chester, CEO of Bitwage, has detailed how the company has been serving Argentine remote workers who prefer collecting payments from employers abroad in stablecoins. Chester stated that 70% of its customers in the country use stablecoins, reinforcing that these have helped Argentines increase their net salaries up to 50%. Bitwage CEO Jonathan Chester: 70%…
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Stablecoins, the cryptocurrencies pegged to fiat currencies like the U.S. dollar to keep their value steady, can still face failures. Several well-known examples demonstrate that maintaining stability is more challenging than it appears. So, how does something designed to be ‘stable’ unravel? A Historical Review of Stablecoin De-Pegging Incidents There’s no doubt that these stablecoins…
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Ethereum (ETH) demand is largely driven by the token’s use in on-chain applications and token transfers, according to a report by CoinShares. Ethereum’s Use-Cases Have Increased, But Long-Term Value Is Missing In a recently published detailed report, CoinShares’ Matthew Kimmell noted that despite Ethereum’s potential to host popular applications in the future, investors are struggling…
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Tether (USDT), the world’s largest stablecoin and the third largest crypto in market cap, has asserted its dominance in the cryptocurrency market and is now close to achieving a significant milestone. Recent data shows a massive influx of money into the crypto industry in the past week, with over $1 billion going into stablecoins. Naturally,…
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In the past month, the stablecoin market has kept its upward momentum, with four out of the top five U.S. dollar-pegged tokens increasing in supply. Since Sept. 15, the stablecoin economy has expanded by $1.04 billion, all within just six days. Tether, USDC See Supply Boosts as Stablecoin Market Grows by $1B in Less Than…
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East Asia’s cryptocurrency market is experiencing significant growth, driven by institutional adoption in South Korea and Hong Kong, according to a report by blockchain analytics firm Chainalysis. South Korea leads with $130 billion in on-chain value, while Hong Kong emerges as a major hub due to its unique regulatory framework. Both regions reflect shifting attitudes…
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Congressman French Hill has raised concerns over the U.S. Securities and Exchange Commission (SEC)’s handling of digital asset regulations, criticizing Chairman Gary Gensler’s leadership for creating legal uncertainty and a politicized approach. The lawmaker highlighted his subcommittee’s legislative successes but expressed frustration with the SEC’s broad and unclear regulations, which he argued burden digital asset…
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As digital economies evolve, stablecoins emerge not just as mere facilitators for crypto trading but as pivotal tools in global financial systems. A comprehensive report by Castle Island Ventures and Brevan Howard Digital, sponsored by Visa, unveils the profound impact of stablecoins on monetary dynamics worldwide. Transforming Global Finance: The Rising Influence of Stablecoins According…
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In what local media are calling the first operation of its kind, the Argentine judicial system ordered the seizure of nearly $28,600 in stablecoins from a criminal organization that used cryptocurrency to launder millions of dollars. The criminals obtained these funds from two main activities: phone smuggling and operating illegal online casinos. Argentine Justice Orders…
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