Crypto News

FDUSD, the stablecoin issued by Hong Kong-based First Digital, has wobbled from its $1 price peg as investor concerns mounted over its reserves, though the company said Wednesday that it was "completely solvent."FDUSD has dropped to 0.87 against Tether's USDT stablecoin and 0.76 against Circle's USDC on Binance, the main exchange where FDUSD is listed. The token has stabilized around $0.98 later, still trading below its supposed price anchor.The sudden price action happened as CoinDesk earlier Wednesday reported that some of the TrueUSD stablecoin's reserve assets were stuck in illiquid investments, according to filings. Tron founder Justin Sun bailed out the issuer company. First Digital Trust, a trust company affiliated to First Digital, was appointed to manage TUSD reserves. "First...

With the tax deadline looming, IRS penalties for unreported crypto transactions can include fines—and even prison time.Source link

The cryptocurrency is trading higher as markets brace for President Donald Trump’s official tariff announcement on Wednesday afternoon. BTC Ticks Upward as Markets Await Trump Tariff Announcement President Donald Trump is set to announce new U.S. tariffs on the country’s global trading partners on Wednesday afternoon and bitcoin is trending upward on the news. TheSource link

Avalanche's AVAX token is poised for major gains in coming years that should outpace already bullish outlooks for both bitcoin and ether, according to Standard Chartered's Geoff Kendrick.“The unique thing about Avalanche is how it is attempting to achieve scale. Unlike Ethereum or Solana, Avalanche (AVAX) uses a set of subnets, or sidechains,” Kendrick said in a note on Wednesday, initiating coverage on AVAX with a $55 price target for the end of 2025, $100 for 2026, $150 for 2027, $200 for 2028 and $250 by the completion of 2029.“While it is still too early to tell whether the new subnet approach will work, we think the fact that one-quarter of active subnets are already Etna-compatible is encouraging.”He also pointed...

Is DOGE head Elon Musk about to step away from his supporting role alongside President Trump? Traders are responding positively to a report.Source link