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Stablecoin Groups Circle, Paxos Test New Tech to Verify Crypto Payments
Stablecoin heavyweights Circle Internet Group Inc. and Paxos Trust Co. have piloted a new way to prevent copycats and help companies verify their digital asset holdings
It’s another sign that parts of the digital asset industry are maturing as they seek to meet new regulatory requirements being established in jurisdictions across the globe. Stablecoins are digital assets pegged to non-volatile assets, such as US dollars, and can be used as a cash equivalent for payments. The technology, Brummer said, could benefit auditors, financial crime-fighters, and investors.
Circle’s USDC is the second-largest stablecoin by market value, and Paxos issues and operates the blockchain infrastructure behind PayPal Inc.’s stablecoin, PYUSD. The number of firms offering stablecoins is expected to grow with the recently-enacted GENIUS Act, which provides a framework for dollar-backed stablecoins.
Spot Ether ETFs See $1.83 Billion Inflows in Five Days, Outpacing Bitcoin Funds Tenfold: Cointelegraph
Spot Ether ETFs in the US have attracted $1.83 billion in inflows over the past five trading days, more than ten times the $171 million seen in spot Bitcoin ETFs, according to CoinGlass.
On Wednesday alone, nine Ether funds recorded $310.3 million in inflows, compared to $81.1 million for eleven Bitcoin funds. Ether’s price has rebounded 5% from its Tuesday low, outpacing Bitcoin’s 2.8% gain.
Since the start of July, spot Ether ETFs are nearing $10 billion in inflows and have accumulated $13.6 billion in total over 13 months of trading, with most of the growth occurring recently. In contrast, spot Bitcoin ETFs have been trading for 20 months and have seen $54 billion in aggregate inflows. Industry observers have noted the rapid shift of investor interest toward Ether.
Bitcoin Asia 2025 Hit By Withdrawals As Hong Kong Officials Avoid Trump Connection: Report
A senior Hong Kong regulator and a lawmaker have pulled out of this week’s Bitcoin Asia conference. Their withdrawal came after they were reportedly advised to avoid interactions with Eric Trump, son of US President Donald Trump.
Eric Yip Chee-hang, executive director of the HK Securities and Futures Commission, is no longer listed as a keynote speaker. Legislator Johnny Ng Kit-chong, a technology entrepreneur, was also removed from the agenda.
Both names had appeared on the site in mid-July, shortly after organisers announced Eric Trump’s participation.
SoFi Switches On Bitcoin's Lightning—What It Means For Crypto ETFs
SoFi Technologies Inc is making waves in fintech. Despite a recent dip, Wall Street is divided on its outlook after a series of bold moves.
JPMorgan and Citigroup raised price targets, with Citi reiterating a Buy following SoFi's strong Q2: record revenue of $655.8 million (+26% YoY) and GAAP net income of $54.7 million, alongside an upgraded full-year outlook fueled by robust loan originations and a growing member base.
But SoFi isn't stopping at banking and loans. Last week, it partnered with Lightspark to launch an international crypto-powered money transfer service, starting with Mexico. Using the Bitcoin Lightning Network, users can temporarily convert dollars to Bitcoin and back to local currency—essentially turbocharging remittances.
Bitcoin & Ethereum Spot ETF Flow
The overall net inflow of the US Bitcoin spot ETF on Wednesday was $54.19 million. The total net asset value of Bitcoin spot ETFs is $144.57 billion.
The Bitcoin spot ETF with the highest net inflow on August 27 was iShares Bitcoin Trust ETF, with a net inflow of $81.25 million.
Source: SoSoValue
The overall net inflow of the US Ethereum spot ETF on Wednesday was $307.20 million. The total net asset value of Ethereum spot ETFs is $30.17 billion.
The Ethereum spot ETF with the highest net inflow on August 27 was iShares Ethereum Trust ETF, with a net inflow of $262.63 million.
Source: SoSoValue