The asset management titan Fidelity Investments reportedly plans to roll out its own dollar-backed stablecoin. Citing two people familiar with the matter, the Financial Times reports that the Boston-based firm with $5 trillion in assets under management (AUM) is now in the advanced stages of testing the crypto asset. Fidelity’s digital assets arm will manage
A widely followed crypto analyst says the decentralized oracle network Chainlink (LINK) may be at the start of a new uptrend. Michaël van de Poppe tells his 781,500 followers on the social media platform X that LINK is starting to break out against Bitcoin (LINK/BTC) on the weekly chart. “Slowly, but surely, LINK starts to
Real Vision’s chief crypto analyst, Jamie Coutts, is leaning bullish on altcoins despite the prevailing bearish sentiment. Coutts says that sentiment is “so bombed out”, as evidenced by the ratio between the equal cap weight and the market cap weight of the top 200 largest altcoins by market cap, which is at a four-year low.
A seasoned crypto trader is warning that the current bounce in the altcoin market will likely be short-lived. Pseudonymous analyst The Flow Horse tells his 266,500 followers on the social media platform X that he thinks crypto is still bearish and the latest rally will probably lead to another leg down. According to the analyst,
Digital asset management giant Grayscale says one layer-one blockchain is the best-positioned out of any to potentially steal market share away from Ethereum (ETH), the biggest smart contract platform by market cap. In a new report from Grayscale Research, the firm says Sui (SUI) provides “one of the highest throughput and lowest transaction costs of
Senator Elizabeth Warren is worried a bipartisan stablecoin bill working its way through Congress doesn’t do enough to address the systemic risks she thinks the dollar-pegged assets pose. Senator Bill Hagerty (R-TN) introduced the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act in February. The legislation, which aims to establish regulatory clarity for
President Trump-backed World Liberty Financial is announcing plans to launch a new stablecoin on Tuesday that would be aimed at bridging traditional finance with digital assets. According to a press release, the new stablecoin is called USD1, which will be pegged to the US dollar and backed by short-term government treasuries, dollar deposits and cash
Solana (SOL) is green on the day on reports that BlackRock is moving its blockchain-based money market fund onto the Ethereum (ETH) competitor’s network. Fortune reports that the world’s largest asset manager is adding its $1.7 billion BlackRock USD Institutional Digital Liquidity Fund (BUIDL) to the Solana blockchain. Solana is trading for $145 at time
Deep-pocketed traders triggered a price crash over the weekend after depositing a huge chunk of an altcoin’s supply to digital asset exchanges. According to blockchain tracking firm Lookonchain, whales in the Bounce (AUCTION) market have been greatly influencing the altcoin’s price action for the past week, causing massive swings in both directions. Bounce Finance is
A new survey by the crypto data aggregator CoinGecko finds that less than 50% of investors are bullish on artificial intelligence (AI)-based digital assets. CoinGecko polled 2,632 anonymous crypto investors around the globe between February 20th and March 10th of this year to gain insights on the merger of cryptocurrencies and AI. Results show that