By Kapil Rajyaguru
Tether Working With US Lawmakers To Shape Stablecoin Policy.
Stablecoin issuer Tether is reportedly in talks with US congressional lawmakers to help craft stablecoin regulatory policies at the federal level.
According to Fox Business reporter Eleanor Terrett, Tether has been working with representatives Bryan Steil, chairman of the House Financial Committee’s Subcommittee on Digital Assets, and French Hill on the STABLE Act introduced by both Congressmen on Feb. 6.
The company also seeks to provide input on two additional stablecoin bills introduced by other lawmakers, Tether CEO Paolo Ardoino told Terrett.
The Fox Business reporter wrote that working within US regulations would require Tether to conduct monthly reserve audits via a US-based accounting firm and maintain one-to-one asset collateral for its tokenized fiat equivalents.
Over 600K New Tokens Launched In January, Sparking Liquidity Fears.
New cryptocurrency issuance hit an all-time high in January, sparking concerns among analysts over the lack of investor liquidity in the market.
Over 600,000 new cryptocurrencies were launched during January, a 12-fold increase compared to the same period in 2024, according to GeckoTerminal data shared by Bobby Ong, the co-founder and chief operating officer of CoinGecko.
SEC Asks For 28 More Days To Respond To Coinbase’s Appeal.
The United States Securities and Exchange Commission (SEC) has requested an additional 28 days to review crypto exchange Coinbase’s appeal in its ongoing lawsuit. However, the agency says its new crypto division could potentially end the 20-month legal battle.
Coinbase agreed to the SEC’s request to extend its response deadline from Feb. 14 to March 14. It comes only days after the SEC and crypto exchange Binance requested a judge pause the case between the two parties for 60 days, also citing the crypto task force’s work in developing a regulatory framework.
West Virginia Legislator Introduces Digital Asset Reserve Bill.
West Virginia State Senator Chris Rose has submitted a bill titled The Inflation Protection Act of 2025 to allow the state’s treasury to invest a portion of its holdings into digital assets or precious metals.
The bill, submitted on Feb. 14, creates provisions for the West Virginia Treasury to invest in any digital asset with a market capitalization of over $750 billion, including stablecoins.
According to the bill, the treasury can only invest 10% of its total funds into digital assets and precious metals. Additionally, the state can hold the assets on-chain or through exchange-traded funds (ETFs).
State of Wisconsin Investment Board Reports Over $321mn BTC Exposure.
The State of Wisconsin Investment Board, the entity overseeing the state’s pension fund, increased its Bitcoin exposure to around $321 million, according to a Feb. 14 filing with the US Securities and Exchange Commission.
Wisconsin’s pension fund previously disclosed holding $164 million in Bitcoin exchange-traded funds (ETFs) in a May 2024 SEC filing. At the time, the pension fund held approximately 2.4 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), valued at $100 million, and 1 million shares of Grayscale’s Bitcoin Trust (GBTC), valued at $64 million.
The pension fund’s most recent filing indicates that the fund has allocated all of its BTC exposure into IBIT and no longer holds any shares of GBTC.
The State of Wisconsin Investment Board’s increased Bitcoin exposure highlights a growing trend among pension funds allocating a portion of their assets to Bitcoin as a hedge against currency inflation and a diversified portfolio.
National Bank of Canada Dumps $1.3mn IBIT Shares in Shocking Crypto ETF Exit.
Unexpectedly, the National Bank of Canada has submitted a request to the U.S. Securities and Exchange Commission (SEC) to sell shares worth over $1.3 million in BlackRock’s bitcoin ETF, IBIT.
The bank intends to exercise a put option, thereby selling off a portion of its holdings in IBIT, as revealed in the filing. This decision comes amidst a backdrop of recent Bitcoin ETF outflows, suggesting a potential shift in investor sentiment toward risky assets.
Abu Dhabi’s Sovereign Fund Invests $436m BlackRock’s Bitcoin ETF.
Abu Dhabi’s Mubadala Sovereign Wealth Fund has taken a bold step into the Bitcoin market, investing $436 million in US-listed spot Bitcoin exchange-traded funds (ETFs). This acquisition, revealed in a February 14 filing with the SEC, highlights the national fund’s growing interest in digital assets.
Mubadala’s filing shows that its investment was directed at BlackRock’s iShares Bitcoin ETF (IBIT), securing over 8.2 million shares in the fourth quarter of 2024. This marks a fresh position for the fund, as no previous holdings of IBIT were reported in earlier filings.
Following this acquisition, Bloomberg ETF analyst James Seyffart noted that Mubadala now ranks as the seventh-largest known holder of IBIT.
HK Asia Holdings Limited Ventures Into Cryptocurrency with Bitcoin Purchase.
HK Asia Holdings Limited has announced the purchase of a single unit of Bitcoin, funded by internal resources at a cost of approximately US$96,150.
The company’s recognition of the growing significance of cryptocurrencies, especially Bitcoin, as a store of value and component of diversified investment portfolios is reflected in this move.
The company views the investment as a strategic step to align with the evolving global financial landscape and enhance its asset value. Despite the symbolic scale of this purchase, it does not constitute a notifiable transaction under the Listing Rules due to its size.
The company commits to adhering to future disclosure requirements for cryptocurrency transactions.
RLUSD Total Supply Reaches $120mn Amid Growing XRP Adoption and XRPL Market Interest.
Ripple’s new stablecoin RLUSD has gained remarkable traction in the crypto market, with a total supply now reaching $120 million.
The growth trend of RLUSD underscores the increasing popularity of regulated stablecoins, especially within the XRPL ecosystem.
As reported by CryptoQuant, XRP’s value surged 12.8% over the past week, illustrating a direct correlation between RLUSD’s performance and XRP’s market movement.
Recent statistics indicate a substantial rise in XRP adoption, evidenced by an increase of over 300,000 addresses in the past month, bringing the total to 6.6 million.
Ethereum Dominates Corporate Blockchain Adoption With NFTs, Tokenized Assets: Galaxy Report.
More than 50 traditional companies, including financial institutions like Deutsche Bank and PayPal and brands like Louis Vuitton and Adidas, are developing crypto-specific applications on Ethereum and its layer two (L2) networks, according to a report by Galaxy Digital Vice President of Research Christine Kim.
These efforts are mainly focused on non-speculative use cases like tokenizing real-world assets (RWAs), non-fungible tokens (NFTs), and Web3 gaming. They don’t go after general crypto infrastructure like exchanges.
Ethereum leads in RWA tokenization, hosting nearly 10 times the value of assets compared to rival blockchain Stellar, per Galaxy Research. Of 20 financial institutions building crypto infrastructure, 13 issue RWAs—including Blackrock’s Ethereum-based fund, BUIDL.
Stablecoins also thrive on Ethereum, with PayPal’s PYUSD and Robinhood’s USDG driving a 70% supply surge in 2024. Ethereum commands over 50% of the $400 billion stablecoin market.
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