Crypto News

Major U.S. banks are weighing launching a joint stablecoin to fend off crypto competition.Financial heavyweights like JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC), have held discussion on the subject, the Wall Street Journal reported, citing people familiar with the matter. The talks are still in early stages and could change, the report added. Within the consortium are also payments ventures owned by these banking powerhouses, like Early Warning Services, which runs Zelle, and The Clearing House, which handles real-time payments.Stablecoins are cryptocurrencies pegged to the value of another asset like a fiat currency or commodity, can settle transactions in a matter of seconds. Banks see potential in them to improve their operations, with international...

Braza Group, one of the largest financial groups in Brazil, unveiled USDB, a dollar-pegged stablecoin issued on top of the XRP Ledger. Currently available to its institutional customers, the token will be available for regular customers through the group’s app starting in May. Braza Group Targets Growing Market With New XRP Ledger-Issued Dollar Stablecoin StablecoinsSource link

Bitcoin BTC has entered a strong accumulation phase across all wallet cohorts for the first time since January, signaling renewed bullish sentiment as the largest cryptocurrency trades above $110,000, an 18% gain over the past month. Glassnode's Accumulation Trend Score has reached its maximum value of 1.0, indicating broad-based, aggressive accumulation by investors irrespective of the amount of BTC they already hold. The metric evaluates the relative strength of buying by different wallet sizes, factoring in both their existing holdings and the amount acquired over the past 15 days. It excludes exchanges and miners to avoid distortion. The latest accumulation wave began in early May, led by whales holding over 10,000 BTC. As the price began to climb, cohorts with...

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A global sting, dubbed Operation RapTor, has led to the arrest of 270 suspects and the seizure of $200 million in cash and crypto.Source link