Saudi Arabia has left mBridge, a cross-border CBDC platform that has drawn scrutiny from US policymakers, according to the Financial Times. Saudi Arabia has withdrawn from mBridge, a China-backed cross-border digital currency project designed to enable direct transactions between central banks, according to the Financial Times. SAMA, Saudi Arabia’s central bank, joined mBridge as a...Continue Reading

The digital asset-aligned PAC joined other groups to spend more than a combined $300 million in the 2024 Ohio Senate race, resulting in Sherrod Brown’s loss to Bernie Moreno. Fairshake, the political action committee (PAC) funded largely by cryptocurrency companies Coinbase and Ripple Labs, plans to spend $30 million opposing Democrat Sherrod Brown’s bid to...Continue Reading

Ondo’s new in-kind conversion system allows approved institutions to mint and redeem tokenized stocks and ETFs using the underlying securities instead of cash. Ondo Finance has introduced a way for eligible institutions to convert stocks and exchange-traded funds directly into their tokenized equivalents, or redeem the tokens for the underlying shares. Under the new system,...Continue Reading

Bitcoin crossed the $86,000 mark for the first time since late January as falling oil prices and concerns over supply lifted US stocks. Bitcoin (BTC) spiked above $86,000 after Monday’s Wall Street open as US stocks rose amid cooling oil prices. Key points: Read moreContinue Reading

Circle is bringing Bitcoin-backed borrowing to institutional clients, allowing them to tap BTC holdings for USDC liquidity without selling their Bitcoin. Stablecoin issuer Circle has launched a Bitcoin-backed borrowing service for institutional clients, allowing eligible Circle Mint customers to use BTC as collateral to borrow USDC through onchain lending markets. The service, called Digital Asset-Backed...Continue Reading

Coinbase draws scrutiny after the CLARITY Act stalls, while the SEC moves ahead with tokenized stocks and crypto firms push deeper into payments. The crypto industry spent much of the past two years preparing for regulatory clarity in Washington. This week, one of its biggest legislative priorities hit a major roadblock. The CLARITY Act failed...Continue Reading

Multicoin Capital co-founder Samani expects SOL to surpass Ether’s market capitalization “this market cycle” and argues that “today, no one really uses Ethereum.” Multicoin Capital co-founder Kyle Samani predicts more crypto companies will choose to build on Solana over Ethereum due to its ease of use and greater functionality. Solana will flip Ether during “this...Continue Reading

Strategy bought 950 Bitcoin for $75.7 million after a two-week pause and spent another $174 million repurchasing its STRC preferred stock. Michael Saylor’s Strategy resumed buying Bitcoin after a two-week pause while continuing to repurchase its STRC preferred stock. Strategy acquired 950 Bitcoin (BTC) for $75.7 million at an average price of $79,670 per coin...Continue Reading

Pontes will expand its services and operating hours gradually, with full implementation expected by 2028 and more participants set to join. The European Central Bank (ECB) launched Pontes, a system that allows financial institutions to settle wholesale tokenized asset transactions in central bank money, providing an alternative to private settlement assets such as stablecoins. The...Continue Reading

Near expanded privacy features for traders as NEAR Intents recorded $29.3 billion in cumulative volume, including swaps involving Zcash. Near Protocol’s native token surged nearly 80% over the past week, outpacing the wider crypto market as the network expanded its privacy-focused trading services. On Monday, NEAR traded around $4.29, up about 78.2% over seven days...Continue Reading