Crypto Market Declines as Stablecoins Surge in Activity
Crypto markets faced declines, with BTC and ETH dropping as the CoinDesk 20 index lost 7% since Monday. In contrast, stablecoins saw significant trading volume.
- The U.S. House introduced a stablecoin bill, following Senate approval.
- Wyoming is testing its own stablecoin on Avalanche, Solana, and Ethereum.
- World Liberty Financial confirmed the launch of its stablecoin (USD1).
- Fidelity Investments is advancing plans for its own stablecoin to enter the tokenized bond market.
- Circle secured a license to operate its USDC stablecoin in Japan through SBI Holdings.
- Sam Altman's World Network is in talks with Visa about integrating on-chain card features with a crypto wallet.
- Zodia Custody's COO, Sam Hill, has left for a role in traditional finance.
- FalconX experienced a significant staff exodus, while BlackRock expanded its digital assets team.
- MicroStrategy has invested $33 billion in Bitcoin through various stock offerings.
- The SEC dropped investigations against several crypto firms, but one involving Unicoin remains open.
- Trump Media announced plans to partner with Crypto.com for ETFs and ETPs.