Author: Coin Viz
Stablecoin issuer Circle is expanding its native issuance of USD Coin (USDC) and deploying its Cross-Chain Transfer Protocol on the layer-1 blockchain Sui. In a Sept. 17 X post, Evan Cheng, co-founder and CEO of Mysten Labs, revealed that his firm’s blockchain—Sui—has partnered with Circle to bring USDC to the network. Cheng did not provide additional information on the partnership. However, market observers noted that the move would boost liquidity in Sui’s fast-rising ecosystem and further attract more users to the network. Launched in 2023, Sui has quickly gained attention within the crypto space for its simplicity and recent high-flying…
Donald Trump and his team have released information on the pending launch of World Liberty Financial, a new DeFi project built on the Aave tech stack. Following a 2-hour X (formerly Twitter) Space last night, the team confirmed the initiative aims to transform the traditional financial system by leveraging blockchain technology. It focuses on tokenizing real estate assets to make high-value property investments accessible to a broader audience, bypassing conventional banking barriers. Key figures involved include Donald Trump Jr., Eric Trump, Steve Wickoff, Zach Folkman, and Chase Hero. Folkman and Chase previously founded an alternative to OnlyFans called Subify, Dough…
MicroStrategy Incorporated announced plans to privately offer $700 million worth of convertible senior notes due 2028, subject to market conditions, according to a Sept. 16 press release. The company also expects to grant an option to purchase an additional $105 million in notes to initial buyers within a 13-day period following the notes’ issuance. MicroStrategy intends to use the proceeds to redeem its $500 million senior secured notes due 2028 and potentially purchase additional Bitcoin. Offering details The unsecured notes will mature on Sept. 15, 2028, and bear semi-annual interest beginning in March 2025. MicroStrategy may redeem the notes for…
Tether’s USDT stablecoin now controls more than 75% of the stablecoin market, marking a substantial increase from 55% in 2022, according to data released on Sept. 16. The growth reflects the increasing demand for USDT as a trusted intermediary between fiat currencies and digital assets. With a circulating supply of $118 billion, USDT has seen steady adoption across crypto markets, bolstered by the firm’s strong financial performance. Over the past month, Tether generated $400 million in revenue, reinforcing its position as the leading stablecoin issuer. Tether’s growing market share highlights its importance in the digital asset space, where investors often…
Bitcoin (BTC) faces potential price volatility this week as the Federal Reserve (Fed) is likely to cut the US interest rate by at least 25 basis points (bps), according to the latest “Bitfinex Alpha” report. However, the movement depends on whether the Fed will cut 25 bps or 50 bps, as a smaller cut could trigger “bullish optimism.” In contrast, a more significant cut will likely make investors go with a “cautious de-risking.” Bitfinex analysts highlighted that this volatility might be more evident in inflows across spot Bitcoin exchange-traded funds (ETF) and derivatives markets. Moreover, rate cuts are often followed…
Bloomberg senior ETF analyst Eric Balchunas refuted recent allegations against Coinbase that claimed the exchange was not using BlackRock’s funds to buy actual Bitcoins (BTC). The rumors surfaced on social media on Sept. 16 and alleged that Coinbase was issuing letters of debt instead of backing IBIT ETF with Bitcoin. The speculators further alleged that the exchange was using the asset manger’s funds to manipulate Bitcoin’s price. However, Balchunas dismissed the claims as absurd, saying: “BlackRock isn’t playing around folks. They would flip out if $COIN was screwing around w their BTC.” He further stated that doing such a thing would…
Ethereum experienced a sharp drop, wiping out recent gains as selling pressure builds. Key support levels are critical for determining the next price move.
The Royal Government of Bhutan holds 13,029 Bitcoin (BTC), worth roughly $755 million at current prices, according to on-chain data gathered by Arkham Intelligence. Additionally, wallets tied to the Himalayan kingdom hold 656.013 Ethereum (ETH), worth approximately $1.5 million. Fourth among governments According to CoinGecko data, governments held 2.2% of Bitcoin’s supply as of August. The US was the largest holder, with 213,246 BTC, followed by China with 190,000 BTC. Bhutan comes in fourth, holding more Bitcoin than El Salvador’s 5,800 BTC as of August end but less than the UK’s 61,000 BTC. However, Bhutan’s Bitcoin holdings allegedly are not…
Congressman Ritchie Torres has called on the Commodity Futures Trading Commission (CFTC) to regulate election-related prediction markets rather than blocking them. In a letter addressed to CFTC Chair Rostin Behnam, Torres urged the regulator to focus on promoting responsible innovation and working with platforms like Kalshi and Polymarket to ensure such markets are regulated rather than pushing traders towards illegal, unregulated platforms. Torres’ letter followed a Sept. 6 court ruling that partially overturned the CFTC’s efforts to prevent Kalshi, a US-based prediction platform, from offering election-related contracts. He emphasized that further legal challenges could harm both election integrity and consumer…
ETH is feeling the impact of BTC’s latest dominance spike, as sell pressure wipes out last week’s gains.