Coindesk

Stablecoin issuing giant Tether is closing down its euro stablecoin, EURT."After careful consideration, we have made the decision to discontinue support for EUR₮," the firm said in a press release on Wednesday. Users will be able to redeem tokens until Nov. 27, 2025, the post added.The decision comes as digital asset businesses operating in the EU are in crunch time before region-wide regulations, known as MiCA, enter into full force by the end of this year.MiCA requires stablecoin issuers to get compliant or potentially retreat from the market of 450 million consumers. Tether CEO Paolo Ardoino has been a vocal critic of the new rules and the company has not obtained the necessary Electronic Money Institution (EMI) license to operate...

Starting next Monday, First Mover Americas will become Crypto Daybook Americas, your new morning briefing on what happened in the crypto markets overnight and what's expected during the coming day. Publishing at 7 a.m. ET, it will kickstart your morning with comprehensive insights. You won't want to start your day without it.CoinDesk 20 Index: 3,278.83 +4.32%Bitcoin (BTC): $$93,338.67 +1.05%Ether (ETH): $3,462.51 +3.99%S&P 500: 6,021.63 +0.57%Gold: $2,652.77 +1.2%Nikkei 225: 38,134.97 -0.8%Top StoriesBitcoin ticked up following Tuesday's drop below $91,000. BTC rose to over $93,800 and is currently trading around 1.8% higher in the last 24 hours. Bitcoin ETFs saw their second consecutive day of net outflows on Tuesday, losing almost $123 million. This was substantially less than Monday's outflows of almost...

Following bitcoin (BTC) and solana (SOL) reaching all-time high prices earlier this month, the stablecoin sector has now joined crypto's record-breaking streak.The combined market size of stablecoins hit $190 billion this month for the first time ever, Wednesday's report by digital asset analytics firm CCData noted. CCData is owned by Bullish, CoinDesk's parent company. The previous peak of $188 billion was recorded in April 2022, just before the cataclysmic implosion of the Terra-Luna stablecoin that added fuel to the digital asset bear market now referred to as crypto winter.Demand for stablecoins soared as cryptocurrency prices exploded in November as investors rushed into crypto, expecting that the U.S. government will be friendlier toward the industry following Donald Trump's election victory. Stablecoins...

Partior, a blockchain payment network backed by TradFi giants including JPMorgan (JPM), DBS (D05), and Standard Chartered (STAN), added Deutsche Bank (DBK) to its list of investors, the company said in a press release Wednesday.The German bank joined Partior's Series B funding round as a strategic investor, taking the total raised by the payments firm in the round to $80 million, the Singapore-based company said. Adoption of blockchain technology by traditional finance firms is growing. Last week, payments giant Mastercard said it was linking up with JPMorgan for cross-border payments on the blockchain.Deutsche Bank will also join Partior's platform as a euro and U.S. dollar settlement bank."The payments business is currently undergoing an extensive period of disruption, primarily due to...

Disclaimer: The analyst who wrote this piece owns shares of MicroStrategy (MSTR).Bitcoin (BTC) development company MicroStrategy (MSTR) has been one of the stocks to watch in 2024. The company is up 416% year-to-date, up as much as 600% at one point last week.However, since the short report from Citron Research came out on Nov. 21, the stock has dropped almost 40%, subsequently burning retail in the process. This drop coincided with bitcoin dropping almost 10% to $90,000 from its all-time high of just shy of $100,000.According to a post on X by the Kobeissi Letter, which is an industry-leading commentary on global markets, on Nov. 20 retail investors bought up to $42 million worth of MicroStrategy common stock....