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Crypto

Bitcoin shows signs of rebound as it builds a base, Glassnode says inverse correlation with U.S. dollar strengthens

Bitcoin is showing signs of a rebound while still building a base, according to on-chain analytics firm Glassnode. It said bitcoin reacted more than other major assets after U.S. inflation data came in below expectations, suggesting selling pressure has largely been exhausted. Glassnode said bitcoin’s correlation with U.S. stocks has weakened since winter while its inverse correlation with the U.S. dollar has strengthened. It highlighted key on-chain price levels and noted easing selling pressure, while cautioning conditions are not yet sufficient to confirm a sustained uptrend.

Crypto

Sony Bank gets preliminary approval to issue dollar stablecoin; PlayStation payments not decided

Sony Bank has received preliminary approval in the United States to pursue a dollar-based stablecoin issuance and custody business. The U.S. Office of the Comptroller of the Currency gave preliminary conditional approval for the establishment of Connectia Trust, a wholly owned trust bank. The plan focuses on issuing a U.S. dollar-pegged stablecoin, managing reserves, providing digital asset custody and enabling transfers within a limited network for approved Sony assets and defined customers. Documents do not mention PlayStation payments.

Crypto

Bolivia weighs adding USDT to official payment network, raising possibility of parallel use with boliviano and dollar

Bolivia\'s government is reviewing whether to include Tether\'s stablecoin USDT in the country\'s official payment system, potentially allowing it to be used alongside the boliviano and the U.S. dollar. Economy Minister Jose Gabriel Espinosa said authorities are considering a framework covering banks, digital wallets and payment service providers, although USDT currently has no official regulation or legal tender status. Officials cite wider local use of USDT amid a shortage of cash dollars.