Tempo, Stripe’s new blockchain, successfully raises $500 million at a $5 billion valuation!
Ondo Finance requests the SEC to halt Nasdaq’s tokenized securities plan.
ETH remains unfazed by a sell-off below $3,700. Why?
Visa report indicates stablecoins are targeting the $4 trillion credit market.
Strike CEO sounds the alarm: “Bitcoin is in crisis due to bank stress and plummeting yields.”
Let’s analyze the news on the global economy and cryptocurrencies and consider economic trends together! Saturday, October 18th: We’ll be discussing today’s cryptocurrency news and on-chain market conditions.
This program brings you the latest news to help you with your asset building. Let’s start by looking at 24-hour data headlines from the cryptocurrency market.
First, Tempo, a new blockchain developed by Stripe, raised $500 million in its latest funding round, bringing its valuation to a whopping $5 billion. This marks a major step for payment giant Stripe as it begins its full-scale foray into the blockchain space. Tempo aims for fast payment processing and high scalability, and this funding round reflects its growth expectations. Stripe has previously dominated online payment infrastructure, but by incorporating blockchain technology, it is accelerating innovation in financial services.
Next, Ondo Finance filed a formal request with the U.S. Securities and Exchange Commission (SEC) to suspend Nasdaq’s tokenized securities plan. Tokenized securities are traditional financial instruments, such as stocks and bonds, digitized on a blockchain, but this move poses many regulatory challenges. Ondo Finance urges regulators to proceed with caution, arguing that market transparency and investor protection should be their top priority. These developments could have a significant impact on the future direction of the digital securities market.
Meanwhile, Ethereum (ETH) unexpectedly faced selling pressure below $3,700, but market bulls remain undeterred. This is due to persistent expectations for network upgrades and the growth of DeFi (decentralized finance). While price fluctuations have occurred in the past, confidence in the technology foundation and expanding ecosystem has led to strong resilience in the medium to long term.
Furthermore, Visa’s latest report reveals that the stablecoin market is aiming to enter the credit market, which could be worth up to $40 trillion. Stablecoins, which are linked to fiat currencies, reduce the risk of price fluctuations and are attracting attention for a wide range of uses, including payments and lending. Entering this massive market could have a revolutionary impact on the entire financial industry.
Finally, Strike’s CEO warned that “Bitcoin smells of trouble.” This is due to the worsening financial environment, including increasing stress in the banking sector and a sharp drop in government bond yields. These factors are likely to have a negative impact on investor sentiment and have a positive ripple effect on Bitcoin prices. However, market participants are currently monitoring the situation cautiously.
Let’s consider the psychological and economic impact that can be gleaned from this series of news.
First, Stripe, a major payment company, has made a huge investment in Tempo, symbolizing trust and expectations in blockchain technology. This will foster a positive mood throughout the industry, encouraging new entrants and innovation.
Second, Ondo Finance’s request to the SEC demonstrates caution about regulatory risks. Investors and businesses are sensitive to changes in the regulatory environment, and transparent and rational rulemaking is essential to market stability.
Third, the strength of Ethereum’s market is driven by trust in the technology and expectations for the ecosystem’s expansion. This bullish attitude is contributing to the overall market’s resilience.
Fourth, the Visa report’s prediction of stablecoin market expansion has the potential to change the very structure of the financial industry. Entering the massive credit market will intensify competition and encourage the creation of new business models.
Fifth, Strike’s CEO’s cautionary statement calls attention to ongoing financial instability. Bank stress and falling yields, in particular, could cause short-term market fluctuations and affect investor sentiment.
That concludes today’s news highlights. This channel provides in-depth, specialized features focusing on valuable news in the cryptocurrency world. If you find this channel valuable, please share, follow, and turn on notifications.
See you tomorrow.
