IOTA's New $100 Million Abu Dhabi Fund
IOTA's New $100 Million Abu Dhabi Fund
Charlie Munger Memecoin Up 31,000% After Legend's Death, U.S. Treasury Tackles Stablecoins, Binance To End Support For BUSD
Welcome to Coinfeeds Daily Digest! Today we cover the US Treasury's campaign towards better access to overseas crypto-chasing, and the agency’s highlights surrounding the risks of stablecoins like Tether's USDT. Abu Dhabi is seeing significant developments in crypto, as Iota launches its $100 million foundation for expanding operations in the Middle East and Paxos receives an in-principle approval for issuing stablecoins there. In other news, Binance is preparing to end support for its own BUSD stablecoin on December 15th amid heavy regulation, big crypto partnerships are returning as the University of Miami partners with Helium Mobile to bring students and faculty more affordable phone plans, and FTX has been court-approved to liquidate over $744 million in crypto funds. Read more below!
Market Update
News
IOTA Expands to Abu Dhabi With A $100M Foundation
The digital currency space is witnessing a significant development with IOTA's latest strategic expansion in the Middle East. IOTA, known for its distributed ledger technology (DLT), has set up a new foundation in Abu Dhabi with a substantial investment of $100 million. | Read More
Charlie Munger Memecoin Surges 31,000% After Legendary Investor's Death
The crypto world often responds to real-world events with a mix of speculation and humor, as seen in the recent creation of a meme coin named MUNGER. It was launched Uniswap shortly after the death of Charlie Munger, who once labeled crypto "rat poison". MUNGER coin skyrocketed by over 31,000%. | Read More
Binance To End BUSD Support Amid Regulation
Binance, one of the largest digital currency exchanges globally, has announced that it will discontinue support for its proprietary stablecoin, Binance USD (BUSD), starting December 15, 2023. This decision marks a pivotal shift in the exchange's operations and regulatory scrutiny. | Read More
U.S. Treasury Campaigning For Overseas Crypto-Chasing Power
The Treasury's campaign for amplified authority is driven by the need to combat illicit financial activities, including terrorist funding, which are increasingly leveraging the anonymity and cross-border nature of digital assets. Namely, to bring non-U.S. stablecoin issuers, such as Tether, under its jurisdiction. | Read More
OpBNB Developers Prepare For High-Speed Upgrade With New Roadmap
The developers behind BNB Chain's opBNB have unveiled an ambitious technical roadmap with the goal of dramatically increasing the network's transaction speed while slashing the fees users pay for each transaction. | Read More
Mystery Buyer Quietly Accumulates 11,268 Bitcoins
Recently, an unidentified individual or entity has made waves by quietly amassing a staggering 11,268 bitcoins over the course of three weeks. This accumulation, valued at approximately $424 million, made the buyer the 74th largest holder of BTC. | Read More
University of Miami Partners with Helium Mobile: Crypto Sponsorships Returning?
The University of Miami has recently entered into a notable partnership with Helium Mobile. This partnership will help bring students and faculty affordable phone plans, although it is also a strategic alliance that promises to enhance the game-day experience for fans of the Miami Hurricanes. | Read More
U.S. Treasury Flags Stablecoin Risks
In recent statements, U.S. Treasury officials have raised concerns about the potential risks associated with stablecoins, particularly those issued by companies outside the United States. The Department is urging stablecoin issuers to adopt stringent measures to prevent their platforms from being used for illegal purposes. | Read More