The Block
Quick Take Stablecoins are not just being used for crypto trading anymore, according to a recent survey of 2,500 people from five emerging markets. The survey of self-reported crypto users found that stablecoin usage has been growing — including during the recent market downturn. The most popular non-trading use cases included currency conversion, paying for goods, remittances and paying or receiving a salary.
Quick Take Web3 firm Nirvana Labs has acquired query and execution platform Vektor to enhance the multichain functionality of its cloud computing services.
Quick Take The SEC says the financial services firm operated as an “unregistered broker and unregistered clearing agency.” eToro agreed to make a select set of crypto available for trading, including bitcoin, Bitcoin Cash and ether.
Quick Take Grayscale, which has already converted both bitcoin and ether trusts into ETFs, plans to launch an XRP “closed-end” fund that will allow investors to gain exposure to the popular token. The firm had previously launched an XRP fund and then shut it down in 2021 after the SEC asserted the token was a security.
Anchorage became the custodian for 21Shares’ spot bitcoin and ether ETFs.The crypto bank will require issuers and participants to use biometric authentication to engage in crypto ETFs for better security.
Quick Take Coinbase launched its own version of wrapped bitcoin on Thursday after teasing the WBTC alternative in August. The cbBTC token is initially supported on the Ethereum and Base networks, providing a means to use bitcoin in their decentralized finance ecosystems.
Quick Take Standard Chartered analyst Geoff Kendrick expects bitcoin to hit a fresh all-time high by year’s end, regardless of who wins the U.S. presidential election. Kendrick bases his prediction on positive factors, including the evolving regulatory landscape for digital assets.
Quick Take Ark Invest bought 53,708 Coinbase shares on Wednesday, worth $8.4 million, as the investment firm rebalanced its fund weightings amid a post-U.S. presidential debate price drop across the crypto market. It’s the first time Ark has bought or sold Coinbase shares since the early August lows.
Quick Take Southeast Asia ride-hailing platform TADA has collaborated with TON Foundation to launch a new Telegram mini app. The mini-app allows users to book rides directly on Telegram and pay using Toncoin or USDT on TON blockchain.
