Tether isn’t the first to notice the Mexican remittance phenomenon, which previously caught the attention of large crypto players like Coinbase, Bitso, and Circle. Earlier this year, Coinbase (COIN) launched a cash-out service to convert local pesos to crypto at more than 37,000 physical retail outlets and convenience stores across the country. Source
A well-designed central bank digital currency could complement stablecoins and cash, Brainard will say in front of the House Committee of Financial Services on Thursday. Source
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The initial application for a spot bitcoin ETF was rejected in April. Source
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The Proust Questionnaire – an old-style magazine format popular in the French novelist’s day – asks a series of personal, philosophical and prosaic questions that, in theory, present a side of a person not often seen. Here, Alex Masmej, founder of social media platform Showtime, reveals something of his “true nature” and the crypto industry. Masmej is a speaker at CoinDesk’s Consensus festival. Source
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On May 25, seven blocks were reorganized on Ethereum’s Beacon chain at 8:55:23 a.m. (UTC) at block height 3,887,075 all the way to block 3,887,081. The reorganization was discovered by Martin Köppelmann who noted the “current attestation strategy of nodes should be reconsidered to hopefully result in a more stable chain.” Ethereum’s Beacon Chain Reorgs While all eyes have been glued to development surrounding Ethereum’s upcoming transition to proof-of-stake (PoS) via The Merge, the chain that will be crucial to the transition, Ethereum’s Beacon chain, suffered a seven-block deep reorganization.…
“It will come, it will come, in due course, yeah,” responded an at least a modestly uncomfortable ECB President Christine Lagarde when presented with the sharp upward-and-to-the right graph of the central bank’s balance sheet, and asked how she plans to bring it down. “How,” again pressed the questioner. “In due course, it will come,” she assured. Source
Amid market issues surrounding stablecoins, Tether (USDT) launched a new digital asset that will be pegged to the Mexican peso on Ethereum (ETH), Tron (TRX) and Polygon (MATIC) networks. In an announcement sent to Cointelegraph on Thursday, Tether mentioned that the token will have the MXNT ticker and will join Tether’s roster of fiat-pegged stablecoins that includes dollar-pegged USDT, euro-pegged EURT and Chinese yuan-pegged CNHT. Citing data that reports blockchain and crypto demand among Mexican companies, the stablecoin issuer believes that there’s a unique opportunity to provide a cheaper option…