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According to BlockBeats, Abu Dhabi's sovereign wealth fund ADQ, conglomerate IHC, and the First Abu Dhabi Bank, the largest bank in the UAE by assets, have announced plans to launch a new stablecoin backed by the Dirham, the official currency of the United Arab Emirates. The companies stated that the stablecoin will be fully regulated by the UAE Central Bank. This initiative signifies a deeper investment by Gulf nations in the cryptocurrency sector.
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According to BlockBeats, the Arizona House of Representatives is set to convene this afternoon at 1 PM local time to discuss two significant pieces of legislation related to Bitcoin reserves. The bills, SB1373 and SB1025, are on the agenda for a final vote. These legislative measures could have important implications for the state's approach to cryptocurrency reserves.
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According to BlockBeats, data from DefiLlama indicates that the total market capitalization of stablecoins across the network has reached $234.68 billion. Over the past seven days, this represents a growth of 0.46%. Among these, USDT holds a dominant market share of 61.85%.
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According to PANews, a notable cryptocurrency whale has recently expanded its Ethereum holdings. Six hours ago, the whale acquired an additional 2,400 ETH, valued at $3.85 million. Over the past ten days, this entity has purchased a total of 12,010 ETH at an average price of $1,531 per ETH, amounting to $18.39 million in total investments.
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According to PANews, MANTRA co-founder JP Mullin has initiated a Twitter poll to gather community feedback on the method of burning team-held tokens. Mullin stated that after announcing the decision to burn all tokens held by the team, there has been significant feedback from the community and investors. The decision was made with the community in mind, and the poll aims to understand their views and attitudes on implementing this action. The poll offers four options: immediate full burn, extending the vesting period annually, transferring to a community multi-signature wallet, or gradual unlocking over time.
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