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Crypto

Stablecoin payment card volume tops $1 billion in August, hits records for volume, transactions and users

Stablecoin-based crypto payment cards hit monthly records in August for transaction value, number of payments and users. Payment volume reached $1.076 billion, marking a second straight month above $1 billion. Payments totalled about 10.67 million and active addresses rose to more than 283,000. RedotPay led by value and transactions. Growth was notable in emerging markets, while activity remained concentrated in a few programs and the overall market stayed small.

Crypto

Arthur Hayes says U.S. Treasury liquidity expansion to drive bitcoin bull market

Arthur Hayes said an expansion in U.S. Treasury bond buybacks could lead to a bitcoin bull market, viewing it as a signal of rising liquidity. He compared the move to 2023 actions under former Treasury Secretary Janet Yellen that boosted liquidity and helped bitcoin rebound after the FTX collapse. Hayes said rates have not yet clearly stabilised and noted yields can pressure the economy. He expects further liquidity steps and warned against leveraged trading.

Crypto

Blockspace closes funding round, targets Ethereum infrastructure business

Ethereum infrastructure company Blockspace has completed a new funding round. The round was led by BlueYard, with participation from EtherFi Ventures, Quasar Builder, Sharplink, BreedVC, Luganodes and Stakely, among other teams and individuals. Blockspace positions itself as an infrastructure company supporting Ethereum’s core product, blockspace. It earns ETH by staking and repeatedly restaking earned ETH, while keeping its ETH holdings at 15 percent of total staked volume.