Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
🪙 China Enters the Stablecoin Race
A new stablecoin pegged to the Chinese yuan, AxCNH, launched during the Belt and Road Summit in Hong Kong. It’s designed for cross-border use, not domestic trade. Alongside it, another stablecoin, KRW1, was introduced, pegged to the Korean won. These launches highlight how nations are pushing to compete with the U.S. dollar’s dominance in global payments.
💰 Flora Growth Makes a Bold Pivot
Nasdaq-listed Flora Growth is transforming its identity with a $401 million commitment into the blockchain project Zero Gravity (0G). The plan includes both cash and digital assets, with Flora Growth set to rebrand as ZeroStack. The company is shifting from cannabis to decentralized AI infrastructure, while still holding part of its reserves in SOL.
🔗 YZi Labs Doubles Down on Stablecoins
YZi Labs, backed by industry leaders, increased its investment in Ethena, the team behind the stablecoin USDe. Ethena is also rolling out USDtb, backed by short-term treasuries, and Converge, a platform for tokenizing real-world assets. The aim is to build a stronger foundation for stablecoins that deliver yield and work seamlessly across exchanges and DeFi.
