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Crypto

21 global financial firms to issue stablecoin; former Ripple executive calls it a familiar scene

A former Ripple executive, Emi Yoshikawa (에미 요시카와), described plans by a 21-bank consortium led by Goldman Sachs and MUFG Bank to launch a dollar stablecoin as a familiar move by banks. She said on X after the announcement that it felt like deja vu. The project draws attention for favoring tighter in-house control over outside blockchain networks. MUFG is also pushing a yen stablecoin payment launch in Japan by March 2027.

Crypto

Shiba Inu exchange outflows plunge 75 percent in unexpected setback for bulls

Shiba Inu (SHIB) exchange outflows fell sharply, weighing on expectations of a near-term rise. The seven-day average outflow dropped 75.55 percent to about 261.7 million SHIB, while the seven-day average inflow rose 24.13 percent to 595.68 million SHIB. Exchange balances in SHIB also edged higher. The data do not clearly point to broad capitulation, but the simultaneous rise in inflows and fall in outflows is not a setup favored by bulls.

Crypto

Bitcoin climbs back above 50-week moving average, next hurdle at $82,000 to $83,000

Bitcoin has moved back above the 50-week moving average, a level widely seen as a key market benchmark, U.Today reported. After rising to $81,797, it eased to around $81,400, up more than 5 percent over 24 hours. Galaxy Research said attention is focused on whether Bitcoin can hold above the 50-week line into the weekly close. Derivatives activity rose, with $84.74 billion in futures volume and $57.86 billion in open interest.