The past week has been a rollercoaster ride in the world of finance and cryptocurrency. From the launch of a new blockchain by Circle Internet Group Inc to a massive Ethereum bet by Tom Lee, there’s a lot to unpack.
Let’s dive into the top stories of the week.
Circle Unveils New Blockchain For Stablecoins
Circle Internet Group Inc. has launched a new blockchain, Arc, specifically designed for stablecoin finance. Alongside this, the company introduced instant cross-chain liquidity via Circle Gateway. Despite these product announcements, the company’s shares took a hit in early trading on Tuesday.
Tom Lee’s $5 Billion Ethereum Bet
Tom Lee, Fundstrat co-founder and now chairman of Bitmine Immersion Technologies Inc, is betting big on Ethereum. In just 35 days, Lee’s company has built the largest corporate Ethereum treasury in the world, worth $5.26 billion.
See Also: Bitcoin, Ethereum Surge As Jerome Powell Signals Potential Policy Adjustment At Jackson Hole
China Considers Yuan-Linked Stablecoins
China is reportedly considering the issuance of yuan-linked stablecoins to expand the currency’s global use. This move would mark a significant shift from China’s previous stance on digital assets. The State Council is expected to review a policy roadmap later this month.
Trump’s ‘Bela’ Post Sparks Crypto Rally
A cryptic ‘Bela’ post by President Donald Trump led to the creation of several memecoins, which saw a surge in value. These obscure tokens began circulating on decentralized exchanges overnight.
US Treasury’s Plan Could Impact Bitcoin, Ethereum Bull Run
The U.S. Treasury’s plan to refill its General Account with $500–600 billion over the next two months could test one of the most fragile liquidity environments in a decade. According to Marcus Wu, Markets Research at Delphi Digital, this could have implications beyond traditional finance, potentially affecting stablecoins.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
