Chinese fintech heavyweight Ant Group has dismissed speculation that it is collaborating with the People’s Bank of China (PBoC) to issue a rare earth-backed RMB stablecoin. Key Takeaways: Ant Group denied working with the PBoC on a rare earth-backed RMB stablecoin. Regulatory restrictions keep Chinese firms’ stablecoin efforts focused on overseas markets. Authorities have tightened…
ASX-listed digital asset investment manager DigitalX Limited has pushed back against suggestions it breached internal trading rules after the exchange queried director Ieva Guoga’s recent share purchases and her dealings with major shareholder Antanas “Tony G” Guoga, her father. Key Takeaways: The ASX queried DigitalX over director Ieva Guoga’s 3 million share purchase ahead of…
S&P Global Ratings has issued a B- issuer credit rating to Sky Protocol, formerly known as Maker Protocol, in the first-ever rating by a major credit agency for a decentralized finance (DeFi) platform. Key Takeaways: S&P Global gave Sky Protocol a first-ever B- credit rating for a DeFi platform. The agency flagged risks including high…
A fresh report by the Korean Center for International Finance (KCIF) states that South Korean nationals who invest in overseas stocks have increasingly pivoted to crypto-tied shares, particularly stablecoins. Retail Korean investors purchasing U.S. big tech shares dropped from a monthly average of $1.68 billion between January and April to $440 million in May, the…
The Zora (ZORA) token has reached a new all-time high amid a bullish rally that has caused its value to appreciate by more than 1460% over the past month. Furthermore, user activity on the Zora platform is also surging. This has reignited interest in the altcoin, with discussions intensifying across crypto Twitter (now X). ZORA…
Bitcoin advocate Samson Mow has suggested that Ethereum’s latest rally could be setting up a reversal, with capital eventually flowing back into Bitcoin. Key Takeaways: Samson Mow claims ETH’s rally is driven by BTC holders rotating into Ethereum, with plans to shift profits back to Bitcoin. He warns ETH faces strong selling pressure near its…
BNB Network Company (BNC) has purchased 200,000 BNB tokens for $160 million, establishing itself as the world’s largest corporate holder of Binance Coin following a landmark $500 million private placement led by 10X Capital and YZi Labs. The acquisition transforms the Nasdaq-listed company into a crypto-first treasury operation focused exclusively on BNB as its primary…
Ethena’s synthetic dollar, USDe, has hit a $10 billion market cap in just 500 days. The move cements its position as one of the fastest-growing stablecoins in crypto history. However, there remains skepticism about USDe, with some analysts suggesting it may be the UST of this cycle. Ethena and USDe Stablecoin’s $10 Billion Milestone Sets…
Ethereum’s Vitalik Buterin has returned to the billionaire ranks after Ether’s surge past $4,000, a milestone last seen in December 2024. Key Takeaways: Vitalik Buterin’s onchain portfolio has surpassed $1B as ETH rallies past $4,000. Traders eye a potential retest of ETH’s $4,878 all-time high. Ether ETFs are seeing stronger inflows than Bitcoin ETFs, signaling…
Bo Hines, executive director of President Donald Trump’s White House Crypto Council, has announced his departure to return to the private sector. Key Takeaways: Bo Hines is stepping down as executive director of the White House Crypto Council. During his tenure, the council advanced US crypto policy but fell short on its strategic Bitcoin reserve…