The Texas Senate is set to hold a public hearing on Feb. 18 to discuss the establishment of a Bitcoin reserve, but market analysts say the move may be largely symbolic unless the state announces an immediate investment plan. The first public hearing for the establishment of a potential strategic Bitcoin reserve in Texas is scheduled…
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. “Back…
The US Securities and Exchange Commission’s Crypto Task Force met with several representatives from the cryptocurrency and traditional finance sectors to discuss regulatory issues impacting digital assets in early February. Key themes included staking, clear guidelines for exchange-traded products (ETPs) and a new framework for policing the emerging asset class. According to memoranda available on…
Dubai’s Virtual Assets and Regulatory Authority (VARA) issued a warning about the risks associated with memecoins, cautioning investors against speculative and unregulated assets. On Feb. 13, Dubai’s crypto regulator warned investors that memecoins are high-risk and unregulated. The regulator said these assets are speculative, volatile and subject to market manipulation. VARA wrote: “Many such assets lack intrinsic…
Franklin Templeton, a US-based financial services company with $1.6 trillion worth of assets under management, announced on Feb. 12 that it had launched its OnChain US Government Money Fund (FOBXX) on layer-1 blockchain Solana. The move marks the latest expansion of FOBXX, which launched in 2021, to another blockchain. FOBXX invests nearly 100% of its…
Coinbase’s assets under management (AUM) make the cryptocurrency exchange worth more than the 21st largest bank in the United States, showcasing the continued growth of the crypto industry. Coinbase, the world’s third-largest centralized cryptocurrency exchange (CEX) by trading volume, is holding over $420 billion worth of digital assets on behalf of its users. The $420 billion AUM…