Crypto Weekly Roundup: Gemini Gets Nasdaq Boost, Tether To Unveil New Stablecoin, & More

This week in crypto, Nasdaq invested $50 million in Gemini’s IPO, BlackRock explored tokenized ETFs, and Tether revealed plans for a new U.S.-regulated stablecoin. On the regulatory front, India maintained caution on crypto laws, and the SEC scheduled an October 17 roundtable on privacy and surveillance in financial markets. Let’s dig deeper. 

Ethereum

BitMine Immersion Technologies has reportedly bolstered its corporate treasury with an additional 46,255 ETH, valued at $201 million, according to blockchain analytics platform Onchain Lens. 

Business

Tether, the entity behind the USDT stablecoin, has announced plans to launch a new US-regulated stablecoin for American businesses and institutions. 

BlackRock Inc., the world’s largest asset manager, is examining the possibility of bringing exchange-traded funds (ETFs) onto blockchain systems through tokenization, according to people familiar with the matter. 

Paxos has unveiled an updated version of its proposal to issue Hyperliquid’s forthcoming USDH stablecoin, positioning itself as a leading contender in a competitive process to secure the role of issuer.

Nasdaq is moving to strengthen its foothold in the digital asset industry with a $50 million investment in Gemini’s upcoming initial public offering (IPO), a move that signals the exchange operator’s deepening commitment to crypto markets.

Web3

KuCoin, a global cryptocurrency exchange, has announced a multi-year partnership with professional golf icon Adam Scott, appointing him as its first Global Brand Ambassador, marking the company’s first formal step into professional sports.

Investors in public markets are routinely paying double the value of the Bitcoin held by some companies, according to a new report by institutional research firm Caladan.

JuCoin, a stably growing, service-driven crypto ecosystem, is rebranding to Ju.com as part of its practical strategy to build a connected identity and make digital asset trading more accessible.

Layer 1 blockchain Concordium has expanded its PayFi ecosystem with the addition of three stablecoin issuers: StablR, Colb, and VNX, that will deploy their assets using Concordium’s Protocol-Level Token (PLT) framework. 

Decentralized compute network Spheron has kicked off an ongoing buyback-and-burn program for its native token, $SPON, executing the first cycle this week.

Security

Ledger’s Chief Technology Officer Charles Guillemet has sounded an alarm over what he described as one of the most serious supply chain attacks ever to hit the JavaScript ecosystem.

Regulation

India is adopting a cautious stance on cryptocurrencies, choosing to avoid comprehensive regulation amid fears that doing so would grant digital assets legitimacy and expose the financial system to systemic risks.

The SEC will host a public roundtable on October 17 to address privacy and surveillance in financial markets, bringing together experts to discuss policy and technological solutions within the crypto sector.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice

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