💲Stablecoins, Sony, and a $2.5B Wake-Up Call 🔔

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👀 This week: From the dollar’s stablecoin dominance play to FTX’s $2.5B deadline, some fresh use cases and shifting regulations. Let’s dive in! 🚀

🔥 Top Stories of the Week

💬 Stablecoins as America’s secret weapon? A leading Web3 CEO says stablecoins can embed the U.S. dollar into the decentralized economy, preserving its global dominance. Explore how

⚖️ SEC’s stablecoin stance faces backlash. Commissioner Crenshaw slams SEC's take on USD stablecoins as misrepresentative, urging clearer frameworks and market nuance. Read why

📜 SEC clarifies stablecoin classification. The new guidance says some stablecoins aren't securities, signalling nuanced regulatory treatment and a path for compliant projects. Unpack

📉 Circle IPO odds take a hit. Investor confidence dips as Polymarket forecasts just a 14% chance of a Circle IPO amid Trump tariff speculation. Find out more

💵 Stablecoin Ecosystem Shifts

🔁 Tether hints at a new stablecoin. Tether CEO hints at launching a new stablecoin if U.S. policies sideline USDT, emphasizing regulatory adaptability. See how

💸 Codex raises $15.8M to build stablecoin tech! With backing from Dragonfly, Codex is building an enterprise-grade blockchain for regulated stablecoin issuance. Read the details

🤝 Fireblocks + SMBC explore wholesale use. A new pilot with Ava Labs in Japan could unlock stablecoins for wholesale banking under favourable legal frameworks. View the news

🌎 Global Adoption & Real-World Use Cases

🌐 VirgoPay transforms global remittances. With Vaulta’s tech, VirgoPay enables fast, low-cost stablecoin transfers. Starting with Canada, LATAM, and Asia. See how

🇰🇬 Kyrgyzstan launches ruble-pegged stablecoin. The A7A5 token, now live on Meer Exchange, pushes Kyrgyzstan closer to becoming a regional crypto hub. Explore

🛍 Sony starts accepting USDC in Singapore! USDC is now accepted on Sony’s Singapore online store via crypto payments firm StraitsX. Read about it

🏛 Policy & Regulation Tracker

🇺🇸 STABLE Act progresses in Congress. The bill, which would bring payment stablecoins under federal oversight, moves to a full House vote. See more

🏪 7-Eleven joins Korea's CBDC pilot. The convenience chain will test digital won payments through June 30 as part of a central bank initiative. See details

🏛 US committee backs anti-CBDC legislation! A House committee passed a bill banning retail CBDCs to curb federal control of personal finance. Read here🔗 

Highlight of the Week: $2.5B at Risk: FTX Creditors Must Act by June 1! ⏳

Nearly 400,000 creditors could forfeit $2.5 billion in repayments if they miss the KYC deadline, now extended to June 1, 2025.

💸 What’s at Stake

✅ 3-Step Action Plan

1. Start KYC Verification before June 1

2. Email [email protected] to receive a support ticket

3. Submit KYC Docs via the FTX portal

📅 Key Dates & Payouts

• Next repayment round: May 30, 2025

• Expected distribution: Over $11 billion

• FTX recovery forecast: 98% of creditors to receive 118%+ of their claim value.

  👉 Get the full story

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