TETHER PLANS A NEW STABLECOIN FOR THE US MARKET
* Tether, the issuer of the world’s largest stablecoin USDT, has announced plans to launch a new product.
* The new stablecoin will target the US market and is scheduled for release in the fourth quarter of 2025.
* This move responds to the growing demand for regulated digital assets in the United States.
BITCOIN ETFs SEE SECOND-LARGEST CAPITAL OUTFLOW
* US Bitcoin exchange-traded funds (ETFs) recorded a net outflow of $812 million.
* This is the second-largest daily outflow for these products since their launch.
* At the same time, Ether ETFs ended their 20-day inflow streak with an outflow of $152 million.
GATE EXCHANGE LAUNCHES OPERATIONS IN THE UNITED STATES
* Cryptocurrency exchange Gate, through its US subsidiary Gate US, has officially started operations in the United States.
* The platform currently offers spot trading services only.
* Upon entering the US market, the company emphasizes regulatory compliance and user security.
A16Z WARNS ABOUT NEGATIVE IMPACTS OF NEW CRYPTO BILL
* Venture capital firm Andreessen Horowitz (a16z) expressed concerns over a proposed US crypto market regulation bill.
* According to a16z, the current version of the bill could weaken investor protection instead of strengthening it.
* The main concerns relate to the unclear treatment of so-called “ancillary assets,” which could blur the line between securities and other digital assets.
ARK INVEST REVISES STRATEGY, SELLS COINBASE SHARES
* Investment firm Ark Invest, led by Cathie Wood, reduced its position in Coinbase (COIN) shares.
* At the same time, the firm increased its exposure to mining company BitMine (BMNR).
* This shift reflects a strategic portfolio adjustment by one of the largest institutional investors in the crypto sector.
RECORD STABLECOIN MINTING ON XRP LEDGER
* The XRP Ledger network recorded a record level of stablecoin minting in July.
* A significant contributor was the BBRL stablecoin, pegged to the Brazilian real, with an issuance exceeding $4 million.
* These figures indicate growing adoption of the XRP network as a platform for stable-value digital currencies.
SENATOR CYNTHIA LUMMIS CRITICIZES FED FOR LACK OF ACCOUNTABILITY
* US Senator Cynthia Lummis described the Federal Reserve as “a giant black hole of unaccountability.”
* Her remarks came during discussions on a bill that would give the US president the authority to appoint a Federal Reserve Inspector General.
* Lummis, known for her support of cryptocurrencies, criticized the lack of transparency in the US central bank’s operations.
PHILIPPINES MAINTAIN PROGRESSIVE CRYPTO REGULATORY APPROACH
* The Philippines is considered one of the most progressive countries in Southeast Asia regarding digital asset regulation.
* Formal legal frameworks for crypto exchanges were introduced as early as 2017 by the local central bank.
* These measures legalized crypto-related activities and established a foundation for market development in the country.
CheckDot is SAFU