Goldman, Citi Commit $270M to Their Own Stablecoin: Can Tether and Circle Hold On?

Goldman Sachs, Citigroup, Santander and Deutsche Bank have committed about $270 million to Project Faro, a joint bank stablecoin. The money funds five years of running a planned US issuer that targets a 2027 launch.  Stablecoins are crypto tokens pegged to $1. Tether‘s USDT and Circle’s USDC hold about 85% of a $290 billion market. Circle shares fell on two earlier reports of rivals.  Sponsored  Sponsored  Why Circle Shares Drop on Bank Stablecoin News  Circle earns most of its money from interest on the cash and Treasury bills backing USDC. Its reserves returned 3.5% in the third quarter, on $73.3 billion of average USDC in circulation, per its results.  A bank-issued token holds the same kind of reserves. Any balances that shift to it would earn that interest for the banks instead.  Circle stock fell 5% on June 30 after Bloomberg reported on Open USD, a rival stablecoin backed by Visa, Stripe and more than 100 firms.  It dropped another 4% on August 26, when the Wall Street Journal reported this bank groups plans. The stock fell again Tuesday amid reports of the $270 million commitment.  Circle Stock (CRCL) Performance. Source: Yahoo Finance  Circle Chief Executive Jeremy Allaire pointed to institutional demand in last weeks earnings release.  Sponsored  Sponsored  “In Q3, we saw

2 دن پہلےانڈسٹری

Securitize agrees to buy River One to expand into asset-backed lending

BlackRock-backed tokenization platform Securitize agreed to buy River One, a New York financing firm, in a deal that would expand the tokenization company into asset-backed lending, the company said Monday.  The deal would add a new financing layer to Securitizes platform, expanding into asset-backed lending, according to a Monday release.  River One is developing technology that would let lenders tap stablecoin funding. Lenders could use pools of small business loans or receivables as collateral to borrow money and fund new loans.  The acquisition would give Securitize a role in arranging credit alongside its existing business issuing and servicing tokenized assets for firms such as BlackRock. The acquisition is expected to close in the fourth quarter of 2026.  Securitize ranks as the second-largest real-world asset (RWA) platform with $3.7 billion in total RWA value. Ondo ranks first with $4.1 billion, according to RWA.xyz.  Securitize announced the deal alongside Q3 results. Revenue rose 13% from a year earlier to $18.6 million, while the company posted a $66.3 million net loss. Securitize said about $60 million of the loss reflected largely noncash expenses and accounting charges tied mainly to its business combination and public listing.  Cointelegraph reached out to Securitize and River One for comment.  Related: Securitize falls 16% after

2 دن پہلےانڈسٹری

Grayscale Pledges $1M to Zcash Ecosystem as ZEC Plunges Below $1,000

Grayscale paired a $1 million Zcash ecosystem commitment with a new education platform and Wall Street Journal advertisements. The national campaign promoted its Zcash fund alongside grants supporting network development, policy advocacy, and financial privacy education.  Key TakeawaysFour Zcash groups were awarded a combined $400,000, with Grayscale planning a total $1 million in grants.Grayscale plans to reinvest 100% of fund management fees for up to a year.Campaign placements included a newspaper wrap and full-page ZCSH ad.  Four Zcash Groups Receive Initial Grant Awards  Grayscale launched Zcash Invest on Nov. 10 and committed $1 million to organizations and initiatives supporting the network. Its $1 million funding commitment included an initial $400,000 awarded through four equal grants. The recipients were the Zcash Foundation, Pretty Good Policy for Zcash, Shielded Labs, and Project Tachyon.  The foundation supports open-source development and financial privacy research, while Pretty Good Policy for Zcash is a nonprofit advocacy group educating policymakers. Shielded Labs, a Swiss-based organization, researches and develops Zcash network technology. Project Tachyon is a protocol initiative led by one of Zcashs co-founders intended to help wallets update faster and process more private transactions.  Steve Vanourny, Grayscales head of index, stated:  “We believe Zcash will help define the next era of crypto.”  “We believe

2 دن پہلےانڈسٹری

Bitcoin's Last Line of Defense is Cracking, and There are No Buyers Below It

Bitcoin price fell to a dangerous point today after US CPI showed hotter-than-expected inflation. BTC price fell below its 200-day moving average of $73,100, which was a major support level.   This shows market demand is fading very quickly.  The same indicator helped support Bitcoins recovery in August, which eventually pushed prices to $87,400 in September. Nearly 16.5% of that value has since disappeared.  Sponsored  Sponsored  Bitcoin price chart. Source: TradingViewWhy are Bitcoin Buyers Disappearing?  The bigger concern is that money appears to be leaving the crypto market.  According to CryptoQuant, Tethers USDT market capitalization has fallen by $6.6 billion over the past 60 days. That is more than twice the contraction recorded after FTX collapsed in 2022.  Stablecoins such as USDT provide money that traders can readily use to buy crypto. Shrinking supply can signal weaker buying power, although some funds may have shifted into other stablecoins.  USDT supply contraction. Source: CryptoQuant  Institutional demand is weakening too. US spot Bitcoin ETFs recorded $1.28 billion in net outflows last week, followed by approximately $201 million on Monday.  Sponsored  Sponsored  Glassnodes ETF analysis points to sustained selling pressure.  How Low Could Bitcoin Fall?  The next few trading sessions could determine whether Bitcoin faces a deeper correction.  The key price levels are:$73,100:The 200-day moving average. A daily close

2 دن پہلےانڈسٹری

HIVE adds 79 BTC as Riot and CleanSpark sell Bitcoin reserves

HIVE Digital Technologies has added 79 Bitcoin to its treasury during the September quarter, lifting its holdings to 269 BTC while Riot Platforms and CleanSpark have reduced their reserves.  HIVE‘s SEC filing, released alongside its Nov. 9 results, recorded 269 BTC as of Sept. 30, compared with 190 BTC in its June filing. The period is calendar Q3 and the company’s fiscal second quarter of 2027.  HIVEs Bitcoin treasury grows despite substantial sales  Comparing the two filings shows that HIVE mined 1,070 BTC and sold 991 BTC during July through September. Its reserve grew by 41.6%, while net additions represented 7.4% of the coins produced over those three months.  The sales calculation subtracts 918 BTC sold in the June quarter from 1,909 BTC sold during the six months ended September. Against quarterly production, the resulting 991 BTC amounts to a sales-to-production ratio of approximately 92.6%.  The September filing reported $70 million in proceeds from digital currency sales during the three-month period.  Across the full six-month period, HIVEs Bitcoin balance rose from 150 BTC to 269 BTC. Its digital currency reconciliation recorded 2,074 BTC mined, 1,909 BTC sold, and 46 BTC transferred as equipment deposits.  The September filing valued the Bitcoin reserve at $22.4 million. Separately, HIVE held

2 دن پہلےانڈسٹری

DeepMind says its AI agents ran a four-day cryptography test with about 20 human messages

Google DeepMind says two AI agents reproduced a known 1024-bit cryptography computation over nearly four days with about 20 human messages, mostly approvals, carrying the research through coding, large-scale execution and debugging.  The test concerns RSA digital signatures. After billions of advance queries to a simulated signing service, the agents computed a mathematical root needed for a new signature once access ended. They did not recover a private key.  The working paper reports 391 CPU core-years for the completed computation, compared with an earlier teams rounded 1,380 on the same instance and algorithm. That is about a 3.5-fold reduction in measured CPU use. GPU work and preliminary probes are excluded.  Related Company Google An American multinational technology company  DeepMind researcher @pushmeet announced the work on Nov. 6, describing a sandboxed reproduction of a previously solved benchmark instance. The papers say these results do not threaten deployed cryptosystems based on 2048-bit or larger RSA.  The human chose the problem, instance and limits on the signing service, then approved conditions for irreversible steps. According to the paper, the researcher wrote no code, launched no jobs and diagnosed no faults.  A supervisor agent maintained the design, budgets and checks. An executor wrote and tested code, launched distributed jobs and

2 دن پہلےانڈسٹری

Elon Musk Calls Claude Opus 5.5 a 'Masterpiece', Admits Grok 4.8 Won't Match It

In briefMusk said Grok 4.8 would not be as good as Claude Opus 5.5, calling Anthropics model a “masterpiece.”He said Grok 4.8 has finished pretraining and could begin a limited rollout this week after a rewrite of xAIs software stack.Musk predicted Grok 5 could surpass Opus 5.5 in two or three months, but offered no comparison scores or firm release date.  Elon Musk has given a rival AI model an unusually enthusiastic endorsement while acknowledging that his own next release wont be able to beat it. Asked how Grok 4.8 would compare with Anthropics Claude Opus 5.5, the xAI founder answered it would be “not as good.”  “Opus 5.5 is a masterpiece,” Musk posted on X.  The admission came in a reply on X Tuesday to a question from a user named Dimdv. Musk added that Grok 5, a next generation model that will be released after this update, “should exceed Opus 5.5,” potentially in two or three months, although he gave further details for that prediction or a firm date for its release—and hes known for not sticking to his own target dates.  Predict·EconomyTSLA Highs in November  42030%YesNo  43516%YesNo  45010%YesNo  4656%YesNo  4803%YesNo  +2 more outcomes+1 more outcomes  NEW  $0.00 volume  Dec 1Closes: Dec 1, 2026, 04:59 UTC  Closes: Dec 1, 2026, 04:59 UTC  For

2 دن پہلےانڈسٹری

Polymarket US trading volume jumps 266% despite regulatory battles

Trading on Polymarkets US exchange more than tripled between June and October, up about 266% as the company faced state and federal scrutiny.  Monthly volume rose to $14.77 billion from $4.04 billion over that period, according to data from analytics platform TickerTracker, which counts trades at the contracts full payout value.  Polymarket told CNBC on Tuesday that its annualized revenue had topped $1.8 billion, up from more than $1 billion in June.  Combo contracts, which bundle multiple predictions into a single wager, accounted for $8.6 billion, or 58.2%, of Octobers volume. Sports contracts were the next-largest category at $4.57 billion, or 31%.  The platforms US arm has grown rapidly since the company widened access in May, as states challenge whether federally regulated prediction markets can offer sports contracts without state gambling licenses. Polymarket began admitting US traders to the separate exchange in late 2025, three years after a settlement with the Commodity Futures Trading Commission (CFTC) led it to block US trading on its international platform.  Polymarket US trading volume by category in October 2026. Source: TickerTracker  The growth also follows a surge in sports-related trading during the FIFA World Cup, which ran from June 11 to July 19. Soccer contracts generated $1.81 billion in trading

2 دن پہلےانڈسٹری

Mercado Bitcoin to resume cash withdrawals after $49M hack

Crypto exchange Mercado Bitcoin will resume deposits and withdrawals in Brazilian reais via Pix, the countrys instant payment system, next week, a company representative told Cointelegraph. The restart will come more than 15 days after an attack drained an estimated $49 million from wallets linked to the exchange.  Customers will only be able to withdraw funds to accounts in their own name. Mercado Bitcoin will also credit customers accounts with proceeds from the settlement of fixed income products. Crypto deposits and withdrawals remain suspended, with no date set for their return.  Mercado Bitcoin, one of Brazil‘s largest crypto exchanges, began restoring access on Monday, a week after the attack, by allowing customers to view their accounts in read-only mode. Customers who regain access are directed to a page detailing the exchange’s security measures and regular audits since 2018, with a link to a separate account of the incident.  Fabricio Tota, Mercado Bitcoins vice president of new business, outlined the next phase in a recent video. The exchange has yet to publish a rollout schedule on its website.  “The resumption will proceed gradually, and the rollout of additional services will be communicated to clients in advance through MBs official channels,” the representative said.  The Nov. 2

2 دن پہلےانڈسٹری

Poland passes sanctions bill covering crypto asset freezes

Polands lower house has passed a sanctions bill covering cryptocurrency freezes by 240 votes to 202, sending the proposal to the Senate for consideration.  The Sejms voting record shows that lawmakers approved the government-backed Act on Restrictive Measures during its Nov. 6 sitting. The proposal would give authorities a national framework for imposing sanctions and enforcing restrictions on money, property, and other assets.  As crypto.news previously reported on Nov. 9, the legislation still requires Senate consideration and presidential approval before becoming law.  Polands crypto freeze proposal targets sanctioned holders  In its original draft, the government explicitly included crypto assets within the definition of financial funds, alongside bank deposits, account balances, securities, dividends and credit.  The crypto definition refers to Article 3 of the European Union‘s Markets in Crypto-Assets Regulation, known as MiCA. The draft defines freezing as preventing movements, transfers, use, or transactions that change an asset’s ownership, location, value, or availability.  Restrictions would apply to people and entities placed on a national sanctions list maintained by the interior minister. The proposed listing grounds include support for sanctioned states, certain personal or financial connections, and foreign interference or information manipulation directed against Polands security.  Banks and exchanges holding assets for listed customers would have to comply with

2 دن پہلےانڈسٹری
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