Muslims across the world celebrated Eidul Azha, also known as the feast of the sacrifice, on Wednesday. Celebrated on the 10th of Zilhaj, Eidul Azha marks the culmination of Haj, one of the five pillars of Islam. It marks the end of the Haj and commemorates Prophet Ibraham’s (AS) readiness to sacrifice his son to show obedience to Allah. This year, Eid is being celebrated across much of the Muslim world under the shadow of the US-Iran war in the Middle East. Muslims attend an Eid al-Adha prayer at a public park, outside El-Seddik Mosque in Cairo, Egypt, May 27. — Reuters Yemenis visit a graveyard on the first day of Eid al-Adha, the Feast of Sacrifice, in Sanaa on May 27. — Reuters Muslims gather to take part in a special morning prayer at the Al-Azhar Mosque in Cairo on May 27. — Reuters Families of Hezbollah fighters killed in the conflict visit the graves of their relatives on the morning of Eid al-Adha, the Feast of Sacrifice, at the Hawra Zaynab cemetery in Beirut’s southern suburbs on May 27. — AFP This...
“Ethereum got the ETH price it deserves, and I don’t see ETH being rerated as an asset, higher or lower,” says David Hoffman. David Hoffman, an Ethereum advocate and the co-founder of the media company Bankless, said he sold the remainder of his Ether (ETH) holdings last week because the “ETH is Money” thesis has largely “played out.” Hoffman said in an X post on Tuesday that “Ethereum got the ETH price it deserves, and I don’t see ETH being rerated as an asset, higher or lower.” Hoffman said that Ethereum “has done incredibly well, and deserves the market cap that it has,” but the “window of opportunity for ETH to be ‘rerated’ by the market seems to be closing.” Read more
While Falcon’s new fUSD is built for institutional trading and collateral workflows, SoFiUSD targets consumer banking users through SoFi’s app. Falcon Finance has launched a dollar-backed stablecoin, fUSD, through Anchorage Digital Bank’s federally regulated issuance platform, according to a Wednesday announcement. The companies said the stablecoin is backed by short-dated US Treasurys, cash and Treasury-backed repurchase agreements. Read more