Analysis-China’s record consumer defaults undermine Beijing’s push to boost spending

DTCC safeguards more than $114 trillion in securities, making it one of the most important pieces of financial market infrastructure. Every day, it records ownership and settles transactions involving stocks, bonds and other securities. Rather than creating new digital assets, DTCC’s system converts existing securities into blockchain-based “digital twins” that retain the same legal ownership,…

The combined market capitalization of major stablecoins fell from roughly $166 billion in March 2022 to $122 billion by September 2023, RWA.xyz data shows — a decline of over 26% as investors pulled money from the digital asset market. Tether’s USDT fell from $78 billion to $65 billion between March and November 2022. For USDC,…

Hackers seized control of the prominent SpaceX and Starlink accounts on X to pull off a scam by promoting a memecoin, on-chain data shows. According to the on-chain analytics platform Lookonchain, the hackers used the two companies of Elon Musk’s social media feeds to drum up interest for a memecoin they called SCATMAN and then…

A Duke University professor said Bitcoin (CRYPTO:BTC) attacks could become profitable through derivatives markets. The idea involves shorting Bitcoin while carrying out a costly 51% attack. The scenario is theoretical and would still face major technical and financial barriers. Bitcoin (CRYPTO:BTC) could face a new financial risk because derivatives markets may change the economics of…

Japan’s JCB and Circle explore stablecoin payme…  Pluang

The Chairman of the Commodity Futures Trading Commission (CFTC), Michael Selig, is calling on the Senate to pass the Clarity Act without delay. In a new interview on Fox Business, Selig emphasizes the need for a federal framework and statutory guardrails while noting the bill remains within reach despite disputes. “We have to get this…