As dollar-pegged tokens like Tether’s USDT and Circle’s USDC continue to dominate, the EUROD joins a growing wave of euro-backed stablecoins entering the market. Franco-German banking group ODDO BHF has launched a stablecoin pegged to the euro under the European Union’s Markets in Crypto-Assets (MiCA) regulation. According to an announcement on Wednesday, the bank will serve as the issuer of the EUROD stablecoin, while market-making platform Flowdesk will provide liquidity and Fireblocks will supply the tokenization infrastructure. Guy de Leusse, deputy chief operating officer at ODDO BHF, said the group “felt it was essential to offer a European solution denominated in euros to provide an alternative to stablecoins denominated in US dollars.” Read more
Bitcoin and several altcoins are facing significant selling pressure on rallies, indicating that the bears are still trying to seize control of the market. Key points: Bitcoin’s recovery is facing selling at higher levels, indicating that the bears remain in control. Several altcoins have turned down from their overhead resistance levels, signaling selling on rallies. Read more
Bitcoin’s remaining October performance depends on Fed rate cut odds, BTC ETF inflows and the path major US stocks chose to take. Key takeaways: Bitcoin is down 4.3% in October despite historically strong monthly returns. The CME FedWatch tool shows a 96.7% probability of a 25% interest rate cut, fueling optimism. Read more
Erebor’s green light from US regulators is among the most significant bank charter approvals tied to digital assets since the 2023 regional banking crisis. Erebor, a financial services company backed by billionaire Peter Thiel, has received regulatory approval to launch in the United States — a move that could help fill the gap left by the collapse of Silicon Valley Bank in 2023. According to a report by the Financial Times on Wednesday, Erebor has secured a preliminary banking charter but must still clear several compliance and security hurdles before it can begin operations — a process that could take several months. The approval was confirmed by the Office of the Comptroller of the Currency (OCC), with Comptroller Jonathan V. Gould saying that “permissible digital asset activities [...] have a place in the federal banking system if conducted in a safe and sound manner.” Read more