Chinese regulators ordered local firms to halt seminars and research on stablecoins, citing concerns over potential fraud and herd-driven speculation. Chinese authorities told local firms to stop publishing research or holding seminars related to stablecoins, according to a Friday report from Bloomberg. Chinese financial regulators reportedly instructed local brokers and other entities to cancel seminars and halt the promotion of research on stablecoins. Citing people familiar with the matter, Bloomberg said the authorities were concerned that stablecoins could be exploited as a tool for fraudulent activities. Christopher Wong, a currency strategist at Oversea-Chinese Banking Corp. in Singapore, said Beijing may be aiming to prevent a speculative surge among retail investors. Read more
XRP price may continue to climb toward $4.50 over the next few months as it breaks out of a classic bullish continuation pattern. Key takeaways: XRP futures volumes have popped by over 200% in the last 24 hours. XRP price chart bull flag targets $4.50 by September or October. Read more
Publicly traded companies are building strategic reserves in digital assets like BNB and Solana. Industry leaders explain why this could be the next institutional on-ramp for crypto. Publicly traded companies are increasingly swapping traditional cash reserves for digital assets, and they’re doing it in ways designed to attract both retail and institutional investors. In the latest Byte-Sized Insight episode, Cointelegraph’s Savannah Fortis spoke with two leaders in this space: David Namdar, CEO of the newly renamed BNB Network Company (formerly CEA Industries), and Joseph Onorati, CEO of DeFi Development Corporation (DFDV). “This is a story that hasn’t been told well… a lot of people, particularly in the US, really haven’t seen the growth of BNB Chain or how massive Binance is globally,” said Namdar. Read more