Crypto Biz: US dollar exposure via digital assets takes off
This week’s Crypto Biz explores Hashdex filing for a combined spot Bitcoin and Ether ETF, Coinbase’s pre-launch market, Ripple’s challenges with regulators in the U.S., and more stablecoins delisting in Europe.
More crypto firms are seeking to capitalize on the demand for United States dollar-denominated digital assets. Tether, the company behind the Tether (USDT) stablecoin, recently announced its synthetic dollar backed by gold and pegged to the U.S. dollar.
The move comes just a few days after Assymetry released its synthetic dollar, afUSD, with an elastic supply based on market conditions.
New tokens mimicking the U.S. dollar have risen since the launch of Ethena’s synthetic dollar, USDe. The protocol, launched in February 2024, has amassed over $3.4 billion in total locked assets over four months, according to DefiLlama.
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Author: Ana Paula Pereira
