Circle expands USDC in Brazil and Mexico with local banking
integrations
Circle has connected its stablecoin USDC (COIN:USDCUSD) to
payment systems in Brazil and Mexico, enabling corporate access via
local bank integrations. In Brazil, USDC is accessible through PIX,
and in Mexico, via SPEI. This expansion comes as Circle plans to
bring USDC to the Sui Network (COIN:SUIUSD). Stablecoins are widely
used in emerging markets for cross-border payments and currency
conversion, boosting adoption in Latin America.
TON Foundation and Curve Finance partnership boosts stablecoin swap
The TON Foundation (COIN:TONCOINUSD) and Curve Finance
(COIN:CRVUSD) have joined forces to incubate a stable swap project
on the TON blockchain, aiming to improve stablecoin trading
efficiency. The collaboration, announced on September 17, will
feature an independent team led by Curve’s founder Michael Egorov.
veCRV holders will receive airdrops of native tokens. This
initiative comes amid TON’s rapid growth, reaching $700 million in
USDT within four months. However, DeFi challenges persist, with a
lack of robust lending infrastructure requiring further expansion
to compete with networks like Ethereum and Solana.
Trump launches World Liberty Financial and WL Token
Donald Trump unveiled the World Liberty Financial cryptocurrency
project, with the WL token set to launch on September 30, and
presales scheduled for September 25. Built on Ethereum, the WL
Token aims to optimize transactions within a DeFi ecosystem,
offering services such as lending and staking without banking
intermediaries. The Trump family highlighted user financial
empowerment, but technical details are still pending. The sale will
be regulated by the SEC, generating anticipation, although
volatility and regulatory issues remain, especially amid increasing
political scrutiny of cryptocurrencies.
Bitcoin volatility increases with Fed’s expected rate cut
Bitcoin (COIN:BTCUSD) price is under pressure ahead of the Fed’s
interest rate decision on September 18. The price ranged from a low
of $57,620.27 to a high of $61,373.41 on Tuesday, staying above the
$60,000 mark at the time of writing. Bitfinex analysts indicate
that volatility will increase depending on a 25 or 50 basis point
cut, with potential fluctuations in ETFs and perpetual markets.
Many expect a rally in the coming months if the cut is
implemented.
Bitcoin ETF inflows drop after record surge
On September 16, Bitcoin ETFs saw a positive flow of $12.8
million, while on September 13, they had recorded inflows of $263.2
million. On Monday, five of the nine tracked ETFs, including
Bitwise (AMEX:BITB) and Ark (AMEX:ARKB), reported no inflows.
Grayscale (AMEX:GBTC) contributed with a $20.8 million outflow,
while BlackRock’s ETF (NASDAQ:IBIT) offset this with a $15.8
million inflow.
At the same time, Ethereum ETFs recorded a net outflow of $9.4
million, driven by Grayscale’s $13.8 million withdrawal
(AMEX:ETHE). Over September, Ethereum ETFs had only two days of
positive inflows.
Binance denies responsibility for WazirX hack and Nischal Shetty’s
accusations
Binance denied involvement in the $235 million WazirX hack in
July and rejected accusations from co-founder Nischal Shetty. The
company stated that it never controlled or acquired the Indian
exchange, calling Shetty’s claims “misleading.” Binance emphasized
that it was not responsible for choosing WazirX’s custody provider
and that its efforts to assist in the hack investigation were
ignored by the WazirX team.
DBS Bank offers crypto options and structured notes trading
Singapore’s DBS Bank will launch over-the-counter crypto options
and structured notes tied to Bitcoin and Ether. Starting in Q4
2024, institutional clients can use these instruments to hedge
against market volatility, according to Cointelegraph. The bank
aims to expand institutional access to crypto markets and
facilitate advanced strategies for managing digital asset
portfolios.
Ripple co-founder invests $10 million in Yellow Network
Chris Larsen, Ripple’s co-founder, led a $10 million funding
round for Yellow Network, a decentralized platform focused on
solving liquidity fragmentation and scalability issues in the
cryptocurrency market. Yellow Network’s protocol promises greater
capital efficiency and faster trade execution, positioning itself
as essential for the sector’s growth.
Howard Winklevoss donates $4 million in Bitcoin to Grove City
College
Howard Winklevoss, father of Tyler and Cameron Winklevoss,
donated $4 million in Bitcoin to Grove City College, where he
developed his interest in sound money and Austrian economics. The
donation, the college’s first in Bitcoin, will fund new business
programs. The new business school will be named “Winklevoss School
of Business” in recognition of his contribution, with the ceremony
scheduled for November.
Capstone raises $5.45 million to expand blockchain project
Capstone Technology, a blockchain and AI company based in the
UAE, raised $5.45 million to fund the development of the GAYA
project. The initiative aims to create a network for entrepreneurs
in gaming, AI, and entertainment, while strengthening the
sustainable digital economy. The funds will be used to manage
technological assets, develop Web3 applications, and expand
regionally.
US lawmakers aim to pass crypto oversight before year-end
Lawmakers Patrick McHenry and Cynthia Lummis aim to pass
cryptocurrency oversight legislation before year-end, though this
depends on attaching it to a mandatory spending package. CoinDesk
reports Lummis mentioned a bipartisan Senate effort that could
boost approval, but if delayed, the bill could be pushed to 2025.
McHenry noted momentum in the House but acknowledged that final
approval may not meet the anticipated timeline.
Bhutan accumulates over $780 million in Bitcoin
Bhutan, located between India and China, has accumulated more
than $780 million in Bitcoin (COIN:BTCUSD), representing nearly a
third of its GDP. Unlike other governments, the country’s BTC
holdings stem from mining operations that have grown significantly
since 2023. In 2023, reports surfaced of a partnership with Bitdeer
(NASDAQ:BTDR) to expand mining capacity, likely boosting Bhutan’s
state Bitcoin reserves and strengthening its economic strategy.
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