The Daily: JPMorgan says Tether may sell bitcoin under new US stablecoin rules, Paolo Ardoino calls analysts ‘salty’ and more
2025-02-14
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The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Happy Thursday! The crypto industry came out all guns blazing this mid-February morning, with regulatory developments, ecosystem plans, market volatility and new token launches keeping us on our toes. Take five, and let's get up to speed.
In today's newsletter, JPMorgan says Tether may need to sell bitcoin under proposed U.S. stablecoin regulations, while CEO Paolo Ardoino calls the analysts "salty." Plus, Brian McGleenon looks at how a potential Federal Reserve audit by Ron Paul could boost bitcoin, Bernstein doubles its Robinhood price target following record quarterly revenues and more.
Meanwhile, Framework Ventures leads a $20 million Series A funding round for stablecoin firm Plasma.
JPMorgan says Tether may need to sell bitcoin under new US stablecoin regulations
JPMorgan analysts estimate that only 66% to 83% of Tether's reserves meet proposed U.S. stablecoin regulations, requiring potential restructuring.
Could a potential Federal Reserve audit by Ron Paul boost bitcoin?
Momentum for a Federal Reserve audit is building, driven by growing social media support for long-time central bank critic Ron Paul to spearhead the effort and even be considered for the role of Chair, plus a high-profile endorsement from DOGE lead Elon Musk.
Bernstein doubles Robinhood price target after record Q4 revenue
Analysts at Bernstein more than doubled their price target for Robinhood stock to $105 after the company reported a record $1 billion in Q4 revenue, driven by a 400% surge in crypto trading volume.
OpenSea unveils plans for SEA token airdrop
NFT marketplace OpenSea has launched its long-anticipated OS2 platform update in beta and teased an upcoming SEA token airdrop, including for U.S. users.
CZ reveals his dog's name, triggering 'Broccoli' memecoin frenzy
Former Binance CEO Changpeng "CZ" Zhao teased a potential memecoin on X inspired by his pet dog, sparking crypto community speculation over a possible token using the Belgian Malinois' likeness.
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Disclaimer: This article was produced with the assistance of OpenAI’s ChatGPT 3.5/4 and reviewed and edited by our editorial team.
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