Digital Dollar News

The Genius Act could boost the US dollar's dominance in Web3 by enforcing 1:1 stablecoin backing and compliance, according to a Foresight Ventures report.

The GENIUS Act would legitimize stablecoins for institutional adoption and set a precedent for other global jurisdictions, according to the managing partner of DWF Labs.

Abu Dhabi’s MGX will use a Trump-affiliated stablecoin to settle a $2 billion investment into Binance in one of Web3’s largest funding deals.

FDUSD depegged after Justin Sun accused First Digital of insolvency, but the firm has since redeemed nearly $26 million in stablecoins.

A US-led tariff war, preexisting economic sanctions, and global Bitcoin and stablecoin adoption could play a role in some countries’ attempts to dedollarize.

Jerome Powell, who has served as chair of the Federal Reserve since 2018, made a guarantee to lawmakers in the Senate regarding a US central bank digital currency.

Fed Board Governor Christopher Waller supports regulated stablecoins, as he believes they will help keep the US dollar as a global reserve currency.

The president-elect cannot officially nominate anyone until after he is inaugurated on Jan. 20, but the US Senate has been holding hearings to question his potential picks.

Ethena’s “singular focus” for the first quarter of 2025 is the distribution of the “TradFi Wrapped” iUSDe synthetic dollar.

Paxos launches USDG, a Singapore-compliant stablecoin, partnering with DBS Bank for US dollar reserves in line with Singapore’s MAS framework.

Bitcoin’s failure to hold $60,000 shows hesitation to buy at higher levels before the FOMC decision on Sept. 18.

The Bahamas was one of the first countries in the world to launch a central bank digital currency — the Sand Dollar in 2020 — and is now looking for ways to boost its adoption.

The need for the U.S. to implement dollar-backed stablecoins “couldn’t be timelier” as China continues to come up with its own solutions, former House Speaker Paul Ryan stressed.

“If you don’t think the Fed is pursuing a CBDC, think again,” said U.S. Representative Tom Emmer.

Morgan Stanley’s head of digital assets, Andrew Peel, warns that a “paradigm shift” in the perception and use of digital assets could impact U.S. dollar leadership.