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Stablecoins won't get any kind of deposit insurance under GENIUS rules, says FDIC chief

The FDIC chief announced that stablecoins will not be eligible for any form of deposit insurance under the new GENIUS rules. This decision highlights the regulatory stance on stablecoins, distinguishing them from traditional bank deposits. The FDIC aims to ensure consumer protection while addressing the unique risks associated with digital assets. The announcement raises concerns among stablecoin issuers and users regarding the security and stability of their investments. Overall, the move reflects ongoing regulatory scrutiny in the cryptocurrency sector.

Read the full article: CoinDesk

Android Phone Crypto Wallets Could Be at Risk Due to MediaTek Exploit: Ledger

A security vulnerability in MediaTek chips, which are commonly used in Android phones, poses a potential risk to crypto wallets, according to Ledger. The exploit could allow attackers to access sensitive information stored in these wallets. Ledger has advised users to be cautious and consider using hardware wallets for enhanced

Wells Fargo Applies for WFUSD Trademark, Signaling Use in Crypto and Stablecoins

Wells Fargo has filed for a trademark for "WFUSD," indicating its intention to engage in the cryptocurrency and stablecoin markets. The application suggests that the bank may be exploring the development of a digital currency or stablecoin tied to the U.S. dollar. This move aligns with a

Crypto-friendly fintech Revolut gains full UK banking license

Revolut, a crypto-friendly fintech company, has received a full banking license from the UK’s Financial Conduct Authority (FCA). This license allows Revolut to offer a broader range of financial services, including traditional banking products, alongside its cryptocurrency offerings. The move is expected to enhance customer trust and expand its

Bloomberg strategist doubles down on $10,000 bitcoin call but peers say it would take a nuclear war to get there

Bloomberg strategist Mike McGlone has reiterated his prediction that Bitcoin could drop to $10,000, citing factors such as economic downturns and tightening monetary policies. However, other analysts believe that such a drastic decline would require extreme circumstances, like a nuclear war, to materialize. The current market sentiment remains cautious,

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Android Phone Crypto Wallets Could Be at Risk Due to MediaTek Exploit: Ledger

Wells Fargo Applies for WFUSD Trademark, Signaling Use in Crypto and Stablecoins

Crypto-friendly fintech Revolut gains full UK banking license

Bloomberg strategist doubles down on $10,000 bitcoin call but peers say it would take a nuclear war to get there