Speaking at the World Bank and IMF shindig in Washington, DC, Malhotra delivered a speech so passionate, you’d think he’d just discovered the concept of “money” for the first time. “Stablecoins? They’re just the cryptocurrency version of a teething baby-seemingly stable, but one misstep and everything collapses,” he declared. 🤢
Their charter application claims they’ll cater to the “innovation economy”-a phrase that sounds like a Silicon Valley butler serving canapés to robots. 🤖 Their target clientele? Crypto enthusiasts, AI overlords, defense contractors, and manufacturers. A cozy cocktail party waiting to happen.
And what of the altcoins, those faithful companions in this grand farce? They too are bathed in the crimson hue of loss. Ethereum, once proud, now slinks below $4,000, while XRP clings desperately to $2.40, its dignity in tatters. The double-digit losers-ASTER, ZEC, IP-they are but footnotes in this tragic comedy, their names etched in the ledger of woe. 📉
Fresh on-chain data and a familiar pattern of momentum are suggesting that this decline may, in fact, be running out of steam. Sounds like a plot twist, doesn’t it?
Imagine, dear reader, a merciful whisper of salvation. No longer must intrepid issuers fend for themselves in the labyrinthine enigma of technical trials and regulatory dilemmas. Instead, they are now ushered with a silken hand into a hallowed hall where Coinbase’s Listings Team awaits: an entourage of luminaries offering personalized guidance, like benevolent deities descending from their digital Olympus. Alas! What relief it would be-a guard, a mentor, a comrade to navigate through treacherous waters, from inception to execution. 🌟
“At 3:12 PM EST, a spot of bother occurred during an internal transfer,” Paxos chirped on X, as if announcing tea time. “We promptly identified the gaffe and set the excess PYUSD ablaze.” 🔥📢
On October 14th, the crypto exchange Binance announced a $400 million recovery initiative, a grand gesture intended to breathe life back into the digital asset market after a sharp downturn sent shockwaves through traders and institutions worldwide. Dubbed the “Together Initiative,” this program is Binance’s latest attempt to steady the turbulent waters of the crypto ecosystem through direct financial support and liquidity measures.
Open Interest plummeted – it’s like everyone suddenly realized they maybe shouldn’t have bet the farm. The “Estimated Leverage Ratio” hit its lowest point of 2025, which is… concerning. It’s the financial equivalent of finding a dust bunny the size of a small dog under your bed. You just wonder how it got so big. 🤔
Under this ingenious arrangement, Absa gets to take a gander at Ripple’s institutional-grade technology while Ripple tiptoes further into its grand quest to drag digital assets into the bright lights of the financial limelight across Africa. Looks like they’re ready to put the “fun” back into fungible! Who said finance couldn’t bring a chuckle or two?
Blockchain data, that ever-reliable oracle, revealed the spectacle: Paxos, in an act of internal mischief or perhaps cosmic irony, created what might be the biggest mistake in digital history-minting 300 trillion US dollars of stablecoin at 7:12 pm UTC, only to burn it all away a scant 22 minutes later, in a puff of code and digital smoke, sending it to some inaccessible wallet as if it were just bad karma. Perhaps the crypto gods were displeased, or maybe Paxos just got a little too excited about internal transfers that got out of hand.
