This Week in Crypto: Global Tensions, Stablecoin Rules, and Coinbase Innovation
The escalation of tensions between Iran and Israel has shaken the crypto market. Israel’s attacks on Iran’s nuclear facilities and key figures have prompted a retaliatory response in the form of drone and missile attacks from Iran.
As a result, the crypto market lost more than US$1 billion, with Ethereum dropping more than 10%. Several altcoins such as Solana, XRP, and Pi Network were also hit hard.
On the other hand, the price of gold has actually soared, confirming its status as a safe asset amid global instability
Stablecoin Regulation Progress in the United States
Based on the information we quoted from the Beincrypto media, Amid market turmoil, positive news has come from the regulatory sector. The US Senate has approved the GENIUS Act, which aims to establish a federal legal framework for stablecoins.
This regulation emphasizes transparency, a 1:1 asset reserve ratio, and compliance with anti-money laundering rules.
This policy is expected to support the growth of a more secure and structured stablecoin ecosystem in the US
- Increasing Stablecoin Activity in TRON Ecosystem: The Big Role of Whales and USDT Expansion
- Global Turmoil: Bitcoin or Gold, Which is Safer?
- Bitcoin Gains, Altcoins Under Pressure: What’s Going On?
- Tensions at the Ethereum Foundation: Geth’s Future in Question
- Bitcoin’s Rapid Rise, Crypto Trading Activity in Indonesia Soars
Coinbase Introduces Three New Crypto Assets
Leading crypto exchange Coinbase recently announced the addition of three new tokens to its platform, namely CAKE, SQD, and Fartcoin.
Following this announcement, the price of SQD immediately recorded a record high, reflecting investor enthusiasm for the new assets.
This move confirms Coinbase’s efforts to continue to enrich the choice of digital assets for its users.
