Goldman, Citi back $270 million push to launch a dollar stablecoin
Trump Media is sitting on $2B in Bitcoin and refuses to sell a single sat to cover its debts.
Powered by Gloria
Inflation ran hot, and crypto felt it.
Bitcoin slipped after the latest US price data came in above forecasts. Leveraged traders bore the brunt of the drop.
Meanwhile, eToro’s shares dropped as crypto trading on its platform dried up.
Still, not everyone is pulling back, as banks and Trump Media have both doubled down on digital assets.
Wall Street's biggest names just bet $270M they can out-stablecoin crypto
Goldman Sachs, Citigroup, Santander, and Deutsche Bank are pooling $270M into a jointly owned stablecoin venture.
The funding is designed to cover five years of operations, signaling this isn't a pilot project.
Four of the world's largest banks building their own stablecoin means Tether and Circle just got real competition.
Markets
Bond rout drags Bitcoin below $73K as rate hike fears intensify
Bitcoin’s latest rally is losing steam as hot CPI and Governor Waller's hawkish Fed outlook have added pressure to crypto markets.
The 10-year Treasury yield surged past 5%, its sharpest move in months.
Markets are now pricing in a near-100% chance of a 25-basis-point rate hike at the Fed's Dec. 8-9 meeting.
BTC slipped below $73K, ETH fell near $2K, and SOL dropped below $83.
Trump Media would rather tap credit lines than touch its Bitcoin
Trump Media plans to repay its convertible notes using cash and credit, not by selling Bitcoin.
Interim CEO Kevin McGurn outlined the strategy on an earnings call, betting on a future Bitcoin recovery.
When a media company treats Bitcoin like a strategic reserve, corporate treasury norms are shifting fast.
eToro's net income fell to $15M in Q3, down 74% from $57M a year earlier.
The culprit was a sharp pullback in crypto trading activity on the platform.
For companies that built their business around crypto volume, a quiet market isn't just boring. It's expensive.
On Our Radar
Wallet or exchange: Which crypto storage method actually matters to your bottom line.*
Fragmented liquidity problem: Tokenized stocks could face pricing gaps as trading spreads across multiple blockchains.
Stock trading gets weird: Telegram's new app lets you buy tokenized shares and deploy AI to do it for you.
*sponsored
ICYMI
200+ Proven Ways to Make Money With AI in 2026
The next wave of millionaires will be people who figured out how to make AI work for them.
The window to get ahead is still open. But not for long.
Here are 200+ proven ways to make money with AI in 2026.
Sign up for Superhuman AI, the free daily newsletter read by 1M+ professionals, and get instant access to all 200+ ways to profit from AI this year.
Meme of the Day
Catch you in the next one.
Vi
|
|
