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The CEO of the Dubai-based exchange sees jurisdictions competing for crypto business in a post-FTX world. PLUS: Bitcoin holds near $30,000 amid investor cautiousness.
Next week’s U.S. central bank interest rate decision and the bitcoin options expiry are unlikely to move markets, which have been stuck for weeks.
BTC could suffer its second monthly downturn of 2023, while ether seems headed for its first losing month.
The redemption plan for the protocol appears to heavily favor employees and Parrot’s venture investors.
The lending platform is on track to remove some $7 million of MKR governance tokens from the market in the next month, according to blockchain data.
The latest price moves in crypto markets in context for July 21, 2023.
Some selling pressure may have arisen from a revised U.S. bill that excludes a host of traditional securities from the "digital asset" category, which some say bodes ill for DeFi.
Unlocks are staggered releases of cryptocurrencies that had been frozen to prevent early investors or project team members from selling in large numbers.
Interest on the ETF's cash balances helps offset the cost of rolling from one set of futures to the next, ensuring a low performance discrepancy, the firm said.
The decline reflects an asset that has been stuck in a tight trading range. PLUS: Bitcoin plods below $30K amid another sluggish day for cryptos in which LINK was a rare bright spot.
- 07:32Visa Reports $200 Million in Stablecoin Settlements, but Share Remains Small; Urges Faster Regulatory Implementation in the USAccording to ChainCatcher, citing a report from Decrypt, global payments giant Visa revealed during its Q2 FY2025 earnings call that the company has processed over $200 million in stablecoin settlement transactions to date. However, CEO Ryan McInerney emphasized that this volume still represents a small portion of Visa’s overall business. The financial report shows that Visa’s revenue for the quarter reached $10.17 billion (up 14% year-over-year), with net income of $5.83 billion. On the day of the report, Visa’s stock closed down 1.18% at $351.29. McInerney noted that Visa is building its stablecoin ecosystem through initiatives such as investing in London-based stablecoin infrastructure company BVNK, partnering with Stripe’s Bridge to expand into the Latin American market, and developing programmable financial tools. However, he also stated that global stablecoin adoption remains constrained by regulatory uncertainty, urging the U.S. government to introduce “clearer and more pragmatic” regulations. Industry data shows that the current stablecoin market capitalization has surpassed $272 billion, but only 10-20% of transaction volume involves real-world payment scenarios.
- 07:32Trader Eugene: This "altcoin season" may be the weakest in history, suggesting continued focus on ETH investmentAccording to ChainCatcher, crypto trader Eugene stated in his personal TG channel that he has exited most of his long positions and is maintaining a defensive stance. He noted that August has historically been a difficult month to predict, and this year’s market is unlikely to be smooth sailing. Additionally, he mentioned that this “altcoin season” may be the weakest in history. Although ETH prices have risen, there has not been a significant wealth effect. This suggests that institutional investors are the main buying force, and capital has not flowed back into the altcoin market. Therefore, he recommends continuing to focus on ETH investments.
- 07:12Visa Says Stablecoin Adoption Is in Its Infancy and Expresses Optimism About Regulatory FrameworksForesight News – According to Decrypto, Visa’s financial report for the second quarter of fiscal year 2025 shows that, to date, the total settlement amount using stablecoins is only $200 million, accounting for a very small proportion of overall settlement volume, emphasizing that this technology is still in its “infancy.” In addition, Visa CEO McInerney stated, “We are optimistic that the U.S. government will introduce clearer and more pragmatic regulatory guidelines. I believe not only the U.S., but hope other countries will do the same.” Recently, Visa acquired London-based stablecoin infrastructure company BVNK and partnered with Stripe’s Bridge to pilot stablecoin payment services in Latin America, covering six countries including Argentina and Mexico. Currently, Visa is advancing the use of programmable financial tools such as the Visa Tokenized Asset Platform and the real-time cross-border transfer system Visa Direct.