Yueqi Yang
Crypto Reporter at The Information
Crypto reporter @theinformation. Ex-Bloomberg. [email protected]. Verify my X account from my official author page.
Articles
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2 weeks ago |
theinformation.com | Yueqi Yang
Source: The InformationCrypto company Ripple is paying $1.25 billion to acquire Hidden Road, a crypto and FX prime brokerage that has become popular for financing trading by institutions. Ripple aims to use Hidden Road to help boost the use of its stablecoin, Ripple USD, as well as blockchain XRP Ledger. Hidden Road will accept Ripple USD as collateral and make use of XRP Ledger for post-trade activity. Ripple is effectively using its ample cash to boost the use of its products.
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2 weeks ago |
theinformation.com | Yueqi Yang
Source: The InformationStrategy, the software maker formerly known as MicroStrategy, said it will report an unrealized loss of $5.91 billion from its bitcoin holdings, as a cryptocurrency selloff wiped out most of its gains since Donald Trump’s election victory. The company has to recognize the unrealized loss after adopting an accounting change that values its crypto assets at market prices. Strategy said it holds 528,185 bitcoin at an average purchase price of $67,458.
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2 weeks ago |
theinformation.com | Yueqi Yang
Tether, by far the world’s largest stablecoin issuer, says it plans to create a new stablecoin for the U.S. market this year if Congress passes crypto legislation. In an interview with The Information, Tether CEO Paolo Ardoino said the company “will move fast” to create a new token once the expected stablecoin legislation passes.
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3 weeks ago |
theinformation.com | Yueqi Yang
Source: The InformationCrypto company Circle, the second largest stablecoin issuer, has filed publicly for an initial public offering. The company is seeking to list on the New York Stock Exchange under the symbol “CRCL.” It had filed confidentially in January 2024. JPMorgan, Citigroup, Barclays, BNY Capital Markets are among its advisers. In 2024, it generated $1.68 billion in total revenue and reserve income and $156 million in net income.
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3 weeks ago |
theinformation.com | Yueqi Yang
New crypto legislation that could make stablecoins a far bigger part of the financial system is moving rapidly through Congress, putting banks on the defensive even before President Donald Trump jumped into the fray. Trump said he wanted stablecoin rules to be the first crypto legislation of his administration. The banks, caught off guard, intensified lobbying for sweeping changes – from who gets to issue stablecoins to how they are designed – to protect their roles in the financial system.
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Tether plans to issue a new stablecoin for the U.S. market this year if Congress passes legislation. Read more details on its plan, including use cases and distributions: https://t.co/G4A7498axB @theinformation
RT @theinformation: Banks Are on the Defensive in Fight Over New Crypto Rules Stablecoins, pegged to the dollar, are used for cash storage…
Trump's stablecoin legislation push is set to collide with banks, which could face threat to their roles in the financial system. Banks have intensified lobbying for sweeping changes, including banning interest, banning commercial firms from issuing stablecoins, and banning
