stable coins
By Julie Binoche
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Tether Prints $1.5 Billion in a Shrinking Market. While BlackRock was building, Tether was counting money. The stablecoin giant posted a $1.
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American Bitcoin: Record Production, Still Losing Money. American Bitcoin — co-founded by Eric Trump and Donald Trump Jr. — hit a production record in Q2.
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Tokenized Gold Holds Up, But DeFi Adoption Lags. Elsewhere in the tokenized asset world, gold had an interesting quarter.
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BlackRock just got more serious about blockchain. The asset management giant rolled out two tokenized money market funds on Ethereum, both aimed at stablecoin issuers who need to…
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The first fund tokenizes shares of an existing Treasury liquidity strategy — basically wrapping a traditional product in blockchain rails.
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While BlackRock was building, Tether was counting money. The stablecoin giant posted a $1.5 billion net operating profit in Q2, almost entirely driven by interest earned on US…
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As of June 30, Tether's reserve buffer sat at $4.11 billion. USDT circulating supply grew by $446 million during the quarter.
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Not bad for a company operating in what some regulators still call a murky corner of finance.
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The profitability is real, but the context matters. The stablecoin market itself contracted, and Tether still grew its share.
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American Bitcoin — co-founded by Eric Trump and Donald Trump Jr. — hit a production record in Q2. The company mined 932 BTC during the quarter, pushing revenue up to $67 million.
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More context: Tether Bets on Saudi Real Estate With Hadron Platform and 2 Local Partners
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But the company is still unprofitable. Losses narrowed, which is something, but they didn't disappear.
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There's also the collateral risk. American Bitcoin holds significant Bitcoin on its books, and if BTC prices drop sharply, that balance sheet gets uncomfortable fast.
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Miners in general have had a rough time since the most recent halving compressed block rewards.
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Elsewhere in the tokenized asset world, gold had an interesting quarter. During a sharp March sell-off, tokenized gold collateral faced liquidations — but the underlying products…
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