Prominent blockchain investigator ZachXBT has criticized two prominent stablecoins, including Ripple’s RLUSD and Circle’s USDC, highlighting concerns about their compliance and adoption strategies. In a now-deleted social media post, ZachXBT questioned Ripple’s RLUSD stablecoin, arguing that it lacked an authentic user base and relied on paid partnerships to create the illusion of organic growth. Due…
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Circle, the company behind the USDC stablecoin, has revised its IPO filing to reflect stronger-than-expected investor demand, according to a June 2 filing with the US Securities and Exchange Commission (SEC). The updated filing shows Circle now plans to issue 32 million Class A shares, up from the previously announced 24 million. It also raised…
Some of the largest banks in the United States, including JPMorgan Chase, Bank of America, Citigroup, and Wells Fargo, are reportedly working on a joint stablecoin initiative, the Wall Street Journal reported May 23. Sam Kazemian, founder of Frax Finance, confirmed the development, signaling that the conversations between major banks might have advanced beyond speculation….
