Two-year Bitcoin hodlers "absorbed" seller pressure in recent weeks, according to new research, but most analysts still expect new macro BTC price lows. New analysis suggests that Bitcoin (BTC) is “relying” on early 2024 buyers as its price action stalls below $70,000. Key points: Bitcoin buyers from early 2024 are in focus as a giant potential safety net for BTC price. Read more
The French banking group’s digital asset unit deploys EUR CoinVertible on a third public blockchain, alongside Ethereum and Solana. French banking group Societe Generale’s digital asset arm, SG-FORGE, has deployed its euro-denominated stablecoin, EUR CoinVertible, on the XRP Ledger, marking the token’s third blockchain launch after Ethereum and Solana. According to Wednesday’s announcement, the rollout is supported by Ripple’s custody infrastructure and could enable integration into Ripple products, including use as trading collateral. SG-FORGE said the move expands institutional access to the euro-backed token across another public network. The launch comes about a month after global banking network SWIFT tested SocGen’s euro-pegged stablecoin in a pilot of exchange and settlement of tokenized bonds in both fiat and digital currencies. SG-FORGE said EUR CoinVertible was the first MiCA-compliant digital asset designed to integrate directly with SWIFT’s interoperability framework. Read more
Although US President Donald Trump was not slated to appear at today's event, it will include two senators, the CFTC chair, and industry leaders. Lawmakers, Wall Street executives, and cryptocurrency leaders will meet at US President Donald Trump’s private Mar-a-Lago club for a crypto “forum” organized by World Liberty Financial, the company backed by Trump and his sons. Ahead of the event, the price of World Liberty’s WLFI token surged by more than 23%, to about $0.12 from $0.10. Trading volume in the past 24 hours topped $466 million. On Wednesday, the president’s sons, Eric Trump and Donald Trump Jr. — also the co-founders of World Liberty Financial — along with Coinbase CEO Brian Armstrong, BitGo co-founder and CEO Mike Belshe, CFTC Chair Michael Selig and others will gather to discuss crypto-related policy issues at Trump’s Florida property. Read more
The payment software company has integrated stablecoin settlement into its existing payments stack, combining USDG, USDP and USDC with traditional rails. Modern Treasury, a payments operations software provider that helps companies manage and reconcile money movement, has introduced an integrated payment service provider (PSP) that supports both traditional fiat rails and stablecoins. On Wednesday, the company announced that it has added stablecoin settlement to the same infrastructure that businesses already use for ACH transfers, wire payments and real-time payment networks. At launch, the platform supports Global Dollar (USDG), Pax Dollar (USDP) and USDC (USDC), with USDt (USDT) expected to be added in the future. Modern Treasure acquired stablecoin and fiat payment platform Beam in October. Read more