Analysis Crypto by Thebittimes.Com

The CEO of one of the biggest payment platforms in the world is predicting that stablecoin technology will force traditional banks to evolve. In a post on X, which was a response to a stablecoin Analysis by investor Nic Carter, Stripe CEO Patrick Collison highlights how banks typically keep nearly all of the yield that is received on their customers’ money. When stablecoins become more prominent, Collison says that will change. “Yes, I think that stablecoin issuers are going to have to share yield with others, but this is just one instance. Everyone is going to have to share yield. Today, the average interest on US savings deposits is 0.40% (FDIC data), and $4T of US bank deposits earn 0% interest.* Things aren’t better in the EU: 0.25% average interest on non-corporate deposits; corporate deposits just 0.51%.** In my view, this is going to change: depositors are going to (and should!) earn something closer to a market return on their capital. ...

The Kingdom of Bhutan’s Bitcoin (BTC) strategy has taken a notable turn with the transfer of part of its holdings to cryptocurrency exchange Binance, suggesting possible plans to sell. Details of the transaction indicate that the country transferred 137.245 BTC, valued at approximately $14.77 million, to the exchange on June 30, according to the latest on-chain data obtained by Finbold from Arkham Intelligence. Kingdom of Bhutan Bitcoin transaction. Source: Arkham The potential for a sale comes as the Asian nation’s Bitcoin stash has grown significantly. As of press time, Bhutan holds 11,924 BTC, valued at approximately $1.28 billion. Notably, these holdings have been built mainly through state-supported mining operations controlled by Druk Holding and Investments. Currently, there is no official explanation for the Binance deposit; however, historically, moving funds to exchanges often signals plans to sell.  Impact of Bhutan’s possible Bitcoin sale ...