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Crypto

Tech Insight: Why stablecoins still are not used like money despite being super infrastructure

Zach Abrams, founder and CEO of stablecoin issuer Open Standard, said stablecoins can be as stable as cash, profitable and transferable online, but are not being used effectively for transactions. He cited hurdles in card settlement, institutional trading, corporate treasury management and fintech infrastructure. Abrams said Open Standard is focused on solving these issues with OpenUSD by sharing reserve income, charging small per-transaction fees and imposing no withdrawal fee.

Crypto

Fed shifts toward September rate hike; key factor for bitcoin this week

Bitcoin posted its first weekly close above $80,000 since May, but analysts say it is too early to treat the level as firm support. The market is focused on U.S. August CPI and PPI data and the Federal Reserve meeting on Sept. 16, as stronger jobs data has shifted rate expectations more hawkishly. Japan’s yen moves and possible bond sales are also seen as factors. Derivatives-led positioning and thin spot demand may limit gains.

Crypto

CoinShares says Fed blocks bitcoin at $80,000, fund flows driven by rate outlook

CoinShares says U.S. Federal Reserve monetary policy has re-emerged as a key factor limiting bitcoin from breaking above $80,000, even as crypto investment demand continues. Research chief James Butterfill said bitcoin is trading like gold again, but the Fed sets the ceiling as liquidity and rate expectations drive flows. After Jackson Hole comments lifted September hike expectations, about $100 million left digital asset products before inflows recovered to $1 billion by Sept. 4 amid talk of a possible hold.