CMC Market Pulse | Weekend
Highlight of the Week
US #SEC Chair, Paul Atkins, aims to roll out an Innovation Exemption for crypto companies by December, allowing faster product launches.
The US #CFTC launches the Tokenized Collateral and Stablecoins Initiative, planning to integrate the use of tokenized collateral, including stablecoins, in traditional markets.
Crypto custody firm, #BitGo , files for an IPO, the latest in a string of hot crypto-related IPOs.
Narrative of the Week
#Tether is in the process of evaluating a raise from selected high-profile investors, in a bid to continue expanding and maximize the scale of the company.
Tether-backed stablecoin L1, #Plasma , introduces Plasma One, their stablecoin native neobank and debit card ecosystem, enabling idle stablecoins to earn yield, stablecoin cashbacks and zero fee transfers.
The Plasma token, XPL, goes live, just one month after their presale, opening at more than 15x the presale valuation of $500M.
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