Stablecoins

French Hill Leads House Financial Services Committee

Friday. December 13 at 4:00 AM

1 min. read

Rep. French Hill (R-Ark.), a prominent advocate for crypto regulation, has been appointed as the chair of the House Financial Services Committee. This positions him at the forefront of shaping the future of digital assets in the US. Hill, who currently heads the Subcommittee on Digital Assets, Financial Technology, and Inclusion, is recognized for his in-depth knowledge of the technical and business aspects of the crypto industry. His selection underscores the GOP's dedication to advancing market structure reforms and stablecoin legislation in the upcoming congressional session. Hill's leadership is expected to bring focus to legislation clarifying the treatment of digital assets as securities or commodities and establishing reserve requirements for stablecoins. With bipartisan efforts and industry connections, Hill is seen as a key figure in Congress for crypto-related issues. His collaborative approach and expertise are anticipated to drive meaningful crypto legislation in 2025.

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Tether Invests $775 Million in Rumble Following YouTube Rival's Bitcoin Push

Saturday. December 21 at 2:00 PM

Stablecoin issuer Tether has announced a $775 million investment in Rumble, a video platform competing with YouTube. Described as an anti-censorship platform, Rumble will receive $250 million initially in cash. Tether will acquire 103.3 million shares of Rumble common stock, with CEO Chris Pavolski retaining control. The investment, priced at $7.50 per share, is set to finalize in early 2025. Following the news, Rumble's stock surged by 40.75% in after-hours trading, reaching $10.57. Launched in 2013, Rumble focuses on free speech and has gained popularity among conservative creators. Tether's CEO highlighted shared values of decentralization and free expression. Rumble plans to establish a Bitcoin reserve amid rising BTC prices. The partnership aims to enhance advertising, cloud, and crypto payment solutions for Rumble.

Stablecoins

Anchorage Digital Receives NYDFS License for Institutional Crypto Solutions

Tuesday. December 17 at 10:00 AM

Anchorage Digital has obtained a BitLicense from the New York State Department of Financial Services (NYDFS), allowing the company to operate in the heavily regulated US crypto market. This license, issued on Dec. 16, enables Anchorage Digital to offer secure trading services to institutional clients with deep liquidity and competitive fees. The company's focus on meeting the increasing demand for regulated crypto solutions among financial institutions is highlighted by this milestone. Anchorage Digital's trading desk, supported by the BitLicense, prioritizes security, efficiency, and regulatory compliance to cater to institutional needs. The firm's expansion includes support for Ethereum liquid staking and a stablecoin rewards program in partnership with PayPal. With plans to fully launch expanded services by early 2025, Anchorage Digital aims to solidify its position as a leader in institutional-grade crypto solutions. The company's commitment to compliance and regulatory standards, demonstrated through the NYDFS BitLicense approval, enhances its reputation among institutional clients and contributes to confidence in the US digital assets market.

Stablecoins

Ethena's ENA Token Surges 13% Ahead of Stablecoin Launch

Sunday. December 15 at 9:00 PM

Ethena's native token, ENA, has surged by 13% in the last 24 hours as anticipation builds for the launch of the new stablecoin product, USDtb, on December 16. The altcoin is on track to reclaim its previous all-time high of $1.52, last seen in April. With a significant increase in trading volume exceeding $980 million, up by 166%, ENA is currently the top gainer in the market. The positive Chaikin Money Flow (CMF) indicator at 0.14 reflects strong investor interest and market confidence in ENA's future performance. However, the token faces a critical resistance level at $1.20, and a failure to break above it could lead to a potential price decline to $1.01 or even $0.85. This analysis serves as informational content and not financial advice, urging readers to conduct their own research and seek professional guidance before making investment decisions.

Stablecoins

Coinbase Europe Delists Stablecoins to Comply with EU Regulations

Saturday. December 14 at 10:00 AM

Coinbase Europe has made the decision to delist several stablecoins, including the popular USDT, in order to adhere to the regulations set by the European Union. The move comes as a response to the new European Markets in Crypto-Assets (MiCA) regulation. Along with USDT, other stablecoins like PAX, PYUSD, GUSD, GYEN, and DAI will also be delisted for retail customers on Coinbase Europe and Coinbase Germany. Despite the impact on these assets, Coinbase has mentioned that they may reconsider enabling services for stablecoins that meet MiCA compliance in the future. USDC and EURC, which are MiCA-compliant, will continue to be supported on the platform. This decision by Coinbase aligns with their commitment to regulatory compliance and aims to ensure the highest standards in this regard. The move towards compliance with MiCA regulations is also evident in partnerships like the one between Binance and Circle to promote USDC adoption.

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