English

NewsBriefs - Fidelity plans to launch US dollar-pegged stablecoin

Editor-curated news, summarized by AI

  • Cointelegraph

    Fidelity plans to launch US dollar-pegged stablecoin

    Fidelity Investments is preparing to launch a US dollar-pegged stablecoin and an Ethereum-based share class for its US dollar money market fund, expanding its offering in the crypto market. This move is part of a broader initiative under a crypto-friendly regulatory environment anticipated by the current US administration. Fidelity's stablecoin will be launched through Fidelity Digital Assets, while the Ethereum-based 'OnChain' share class aims to facilitate transaction tracking for the Fidelity Treasury Digital Fund. These developments reflect a growing trend of financial institutions embracing crypto services and products.

    Cointelegraph

    • Latest

    • The Block

      Thailand to offer $150 million in G-Token for public investment within two months

      Thailand's Finance Ministry, under Finance Minister Pichai Chunhavajira, plans to issue $150 million worth of digital investment tokens, named G-Token, within the next two months. This initiative, approved by the cabinet, aims to enable higher returns than bank deposits for investors and will help raise funds for the budget without constituting debt. It aligns with growing global interest in government-backed cryptocurrencies and digital investment strategies.

      Expand
      The Block

    • CoinDesk

      Cantor Equity Partners announces $458M Bitcoin purchase in merger with Twenty One Capital

      Cantor Equity Partners disclosed a $458.7 million Bitcoin acquisition related to its upcoming merger with Twenty One Capital, a crypto-focused investment firm backed by Tether, Bitfinex, and SoftBank. This complex deal involves Tether Investments, Tether's El Salvador affiliate, and iFinex, Bitfinex's parent company, purchasing and holding 4,812 BTC in escrow, which will then be transferred to the merged entity. Additionally, blockchain data confirmed that the escrow wallet received these Bitcoins from a Bitfinex hot wallet. The new company, launching under a SPAC structure led by Strike CEO Jack Mallers, plans to control over 42,000 BTC.

      Expand
      CoinDesk

    • CoinDesk

      Bitcoin nears $105K on cooler CPI and historic S&P 500 debut for Coinbase

      Bitcoin surged to approximately $104.5K, driven by positive inflation data, favorable remarks from President Trump, and Coinbase's recent inclusion in the S&P 500. The crypto asset experienced a pullback despite nearing the $105,000 mark, while most altcoins saw significant gains. Analysts suggest the rally may continue due to a rebound in global risk appetite and increasing mainstream crypto adoption. Keynotes include cooling consumer inflation and upcoming comments by Fed Chair Jerome Powell, which could influence future financial policies.

      Expand
      CoinDesk

    • Globe Newswire

      GD Culture Group commits $300 million to build crypto reserve including Bitcoin and Trump Coin

      GD Culture Group, through its subsidiary AI Catalysis, has secured a funding commitment of up to $300 million through a Common Stock Purchase Agreement with an investor to support its crypto asset treasury strategy. This strategy involves purchasing and holding Bitcoin and Trump Coin to strengthen its balance sheet and align with the decentralized finance ecosystem. The initiative reflects the company's confidence in crypto's role in facilitating a decentralization transformation and enhancing long-term shareholder value.

      Expand
      Globe Newswire

    • The Block

      Coinbase to join S&P 500, becoming first major crypto exchange in index

      Coinbase, the largest crypto exchange in the US, will join the S&P 500 index, replacing Discover Financial Services. This milestone marks Coinbase as the first significant, dedicated crypto firm in the index. Despite historical market volatility impacting earnings, Coinbase's growth, including a recent $2.9 billion acquisition of Deribit, has positioned it for inclusion in the benchmark. Shares of Coinbase surged 8% following the announcement.

      Expand
      The Block

    • Pump.fun

      Pump.fun launches creator revenue sharing with 50% of PumpSwap earnings

      Pump.fun has introduced a creator revenue sharing system where 50% of PumpSwap's revenue is distributed to coin creators. Creators can now earn 0.05% in SOL from each trade made on their coins. This applies to all coins newly created, trading on Pump.fun's bonding curve, or that have graduated to PumpSwap, with earnings calculated from the launch date.

      Expand
      Pump.fun

    • The Block

      Trump's direct crypto links raise conflict concerns as stablecoin bill stalls

      Former President Donald Trump's growing involvement in the crypto sector is raising conflict-of-interest concerns among US lawmakers, coinciding with the stalling of stablecoin legislation in Congress. Trump's ties to a new stablecoin and a foreign crypto exchange previously scrutinized by the Department of Justice have sparked criticism, particularly as the market cap of the stablecoin surged to over $2 billion following a significant deal. This controversy undermines the progress of the GENIUS stablecoin bill and poses questions about the influence of Trump's financial interests on legislative processes.

      Expand
      The Block

    • The Block

      SEC Chair Paul Atkins announces new regulatory approach for crypto

      SEC Chair Paul Atkins has unveiled a shift in the agency's crypto regulation strategy, emphasizing a move away from ad hoc enforcement to a rules-based approach that includes drafting specific guidelines for digital assets deemed securities. Atkins criticized the previous administration's less cooperative stance and plans to revise custody rules and explore conditional exemptive relief for new crypto products and services.

      Expand
      The Block

    • The Block

      Strategy buys additional 13,390 BTC for $1.3 billion, brings total to 568,840 BTC

      Strategy acquired an additional 13,390 BTC for approximately $1.34 billion at an average price of $99,856 per bitcoin, expanding its total holdings to 568,840 BTC valued over $59 billion. These acquisitions were funded through the sale of MSTR and STRK shares. Strategy's total BTC represents more than 2.7% of the entire bitcoin supply, reflecting significant paper gains and continual investment, despite a recent $4.2 billion net loss in Q1 due to unrealized losses on bitcoin under new accounting rules.

      Expand
      The Block

    • The White House

      US and China progress in trade talks, detail release set for tomorrow

      The US and China have made "substantial progress" in trade talks held in Switzerland, with a detailed announcement planned for tomorrow. US Treasury Secretary Scott Bessent and US Trade Representative Ambassador Jamieson Greer reported productive discussions, emphasizing swift agreement and the groundwork laid over two days. The meetings also involved high-level officials from both sides and direct communication with President Trump.

      Expand
      The White House

    • The Block

      Ledger regains control of Discord server after hacker attack

      Ledger regained control of its Discord server after a hacker compromised a moderator's account and attempted to scam users by asking them to input their seed phrases into a third-party website. The company swiftly removed the hacked account, deleted the malicious bot, reported the scam website, and secured server permissions to prevent further incidents.

      Expand
      The Block

    • The Block

      BlackRock discusses staking and options for crypto ETFs with SEC

      BlackRock met with the US Securities and Exchange Commission to discuss regulatory issues for crypto staking and options on crypto ETFs. The meeting explored facilitating ETFs with staking features and determining parameters for options trading on these ETFs, highlighting challenges and the potential for advancements in the crypto ETF sector.

      Expand
      The Block

    • The Block

      German authorities seize $38 million in crypto from eXch exchange

      German authorities have confiscated approximately 34 million euros ($38.2 million) in crypto assets from eXch, a defunct crypto swapping platform known for its lack of anti-money laundering and KYC measures. The seizure, which included Bitcoin, Ether, Litecoin, and Dash, along with over 8 terabytes of data and server infrastructure, is linked to suspicions of commercial money laundering and operation of a criminal trading platform. eXch, operational since 2014, enabled anonymous crypto transactions and is implicated in laundering part of the crypto stolen by the North Korean hacker group Lazarus.

      Expand
      The Block

    • Metaplanet

      Metaplanet issues $21 million in zero-interest bonds to buy Bitcoin

      Metaplanet has issued its 14th series of ordinary bonds, allocating the entire issuance to EVO FUND and raising $21,250,000. These zero-interest bonds, set to be redeemed in November 2025, are designated for purchasing Bitcoin and ensuring funds for bond redemption. The bonds were issued as per previous announcements related to stock acquisition rights and future financial management plans.

      Expand
      Metaplanet

    • The Block

      US Senate votes to delay stablecoin regulation bill amid Trump's rising crypto involvement

      The US Senate has postponed the advancement of a stablecoin regulation bill due to increasing bipartisan tensions influenced by President Donald Trump's involvement in the crypto sector. The Senate's decision follows Democratic concerns about the bill's provisions on foreign issuers and anti-money laundering, as well as ethical issues tied to Trump's personal crypto activities. The bill, known as the GENIUS Act, aims to enforce stringent rules on stablecoin issuance, including reserve requirements and restrictions on foreign issuers.

      Expand
      The Block