Escalating tensions in the Middle East and an ominous Bitcoin chart fractal could play a role in sending BTC price back under $100,000. Key takeaway: Bitcoin price sits on a slippery slope as tensions in the Middle East and investors’ decision to cut risk threaten a drop under $100,000. Bitcoin (BTC) reached a weekly high of $110,653 on Monday, but it is currently down 3.5%, dropping to a low of $106,600 on Thursday. Escalating tensions between Iran and Israel, with reports of Israel possibly preparing military action against Iran, have triggered a risk-off sentiment, with BTC posting a reaction. Read more
Circle's USDC has a market capitalization of over $61 billion, making it the second-largest stablecoin, second to Tether's USDt. Circle's USDC stablecoin (USDC) launched on the XRP Ledger (XRPL) on Thursday, bringing the overcollateralized dollar-pegged token to users of the layer-1 blockchain network. According to an announcement from Ripple, the launch of USDC on the platform will enable investors to use XRP as a bridge currency to transfer their stablecoins between decentralized exchanges (DEXs) through an auto-bridging feature. Markus Infanger, the senior vice president of RippleX added: Support for USDC on the XRPL comes amid a concerted push to establish comprehensive stablecoin regulations in the United States, as the sector swells to over $237 billion in market capitalization with geo-strategic and macroeconomic implications. Read more
The reserve will be funded through stock issuance and other financial instruments, according to the announcement. Trident Digital Tech Holdings, a Web3 company based in Singapore, said it will start an XRP (XRP) treasury of up to $500 million. By doing so, the company joins a host of others that have, since May, announced reserves of the Ripple-created cryptocurrency. “This initiative reflects our belief in the transformative potential of blockchain technology for capital allocation and cross-border value transfer,” Soon Huat Lim, founder and CEO of Trident, said in a statement. “Through this initiative, Trident aims to demonstrate how public companies can thoughtfully and responsibly participate in the ongoing development of decentralized finance.” Rather than a simple buy-and-hold strategy, Trident plans to use its XRP reserves to generate yield through the deployment of staking mechanisms and have a “deep engagement” within the Ripple ecosystem, according to the announcement. The start of the XRP reserve w...
The US president has spoken in person at the Bitcoin 2024 conference in Nashville and released a video message for the Digital Asset Summit in New York City. US President Donald Trump released a prerecorded message for attendees of Coinbase’s State of Crypto Summit as Congress considers legislation to regulate payment stablecoins and establish a digital asset market structure framework. In his second message directly addressing a crypto conference since becoming president in January, Trump said he was “not done” implementing crypto policies in the US government. These, according to the president, have included efforts through executive orders to establish a national Bitcoin (BTC) reserve, creating a working group on digital assets and nominating Paul Atkins to chair the Securities and Exchange Commission (SEC). “My administration is working with Congress to pass the GENIUS Act supporting the creation of dollar-backed stablecoins, and we also will be working to create clear and simple market frameworks that wi...
The Enterprise Cluster initiative enables decentralized use cases for privacy-sensitive operations across healthcare and finance. Several technology companies have joined Nillion’s newly launched Enterprise Cluster — an initiative aimed at extending decentralized applications beyond cryptocurrencies into privacy-focused use cases such as healthcare, financial management and enterprise data sharing. As part of the partnership, Deutsche Telekom, Alibaba Cloud, STC Bahrain and Pairpoint by Vodafone are operating infrastructure nodes on Nillion’s decentralized compute platform, the company announced Thursday. The Enterprise Cluster enables organizations to run privacy-critical applications on decentralized infrastructure, helping to minimize the trade-offs between the risks of centralized systems and the limitations of blockchain-based privacy. Read more