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FSOC urges Congress to pass stablecoin legislation to stabilize global finance
Key Takeaways: FSOC Flags Stablecoins as “Potential Risk” to Financial Stability. High market concentration and lack of appropriate regulatory frameworks are critical challenges. Urges comprehensive federal regulation of stablecoins due to their systemic risks. Stablecoin Market is Highly Concentrated In recent years, the U.S. Financial Stability Oversight Council (FSOC) has identified that the market for stablecoins is concentrated, with a single company holding about 70 percent of the sector’s total market value. Tether holds about 70% of the stablecoin’s market value Stablecoins play an indispensable role in the provision of liquidity both in the cryptocurrency market and DeFi protocols. In...
Hawk Tuah Haliey Welch's Memecoin Under Scanner as Price Plummets Shortly After Launch
Haliey Welch, 22, became a social media personality during the summers over the "hawk tuah" TikTok video, which instantly became a hit and enabled her to launch her own merchandise, the "Talk Tuah" podcast in September, and even an AI-based dating app called "Pookie Tools." Her Instagram presence swelled to 2.6 million followers, and she is often seen posting pictures with celebrities and inviting many of them, including Wiz Khalifa, to her popular podcast. In June, an interviewer on the street during the CMA Fest in Nashville, Tennessee, asked her about "the move in bed that makes a man go...
600% Hike Pushes Hedera (HBAR) Open Interest to All-Time High, Traders Expect More
Hedera (HBAR) open interest has hit a new all-time high following its 600% price increase in the last 30 days. This rise signifies the highest trader interaction with the token since its inception. Looking ahead, several key indicators suggest HBAR’s price rally and bullish momentum may persist. Based on this on-chain analysis, here is what could be next for the cryptocurrency. Hedera Has Traders’ Attention on Lock Some days back, BeInCrypto reported how HBAR’s open interest surged to $220 million. But as of this writing, the same indicator, according to Glassnode, has risen to $417.98 million. OI, as it is...
