According to cryptocurrency onchain data, a large crypto whale has purchased a large amount of altcoins in recent hours. According to the data, the big whale caught on the onchain radar purchased $2.41 million worth of Maker (MKR), Pendle (PENDLE), and Hyperliquid (HYPE) altcoins. This cryptocurrency whale, known with the short address 0xe86, purchased $1.21 million worth of MKR, $707 thousand worth of PENDLE, and $488 thousand worth of HYPE. Remarkably, this giant whale sold his Chainlink (LINK) and Aave (AAVE) holdings to make his latest purchases and used the funds to purchase the three altcoins in question. Related News: Bank of America Strategist Evaluates Markets' Decline! Risk Appetite May Increase, Here's Why While the altcoins sold by the whale, AAVE and LINK, are seen to have increased by modest amounts during the day, the increases in the altcoins purchased by the whale today are more intense. According to the data, this crypto whale currently has $9.96 million worth of altcoins, $3.7 million of which are pending in the USDC stablecoin. Other major altcoin assets are MKR with $1.66 million, AAVE with $1.51 million, LINK with $1.2 million, and PENDLE with $735,000. *This is not investment advice. Continue Reading: Massive Whale Sells These Two Altcoins, Buys Three Different Altcoins with the Funds
Ethereum restaking protocol EigenLayer is set to begin holding the operators who run nodes and validate transactions responsible for their actions. On April 17, the protocol will turn on slashing on its mainnet, in which operators are penalized for providing poor service or for malicious actions. EigenLayer enables tokenholders to restake their staked ETH, using it to provide security for third-party services to earn additional yield. This leaves restakers liable to being slashed in two ways — if the validator they staked their tokens with originally misbehaves, or if the EigenLayer operators with whom those tokens are restaked misbehave. Last year, EigenLayer began distributing rewards, including its native EIGEN token, to restakers but only activated slashing on the testnets. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Fidelity Investments, an American asset management company, has applied to register its tokenized U.S. dollar money market blockchain, joining a growing list of businesses that are tokenizing assets. Fidelity registered its blockchain with the SEC, creating a tokenized version of its Fidelity Treasury Digital Fund (FYHXX), which contains cash and treasury securities. The SEC filing revealed that Fidelity wishes to create an on-chain share class of its funds, FYHXX, using the Ethereum network but plans to create an independent blockchain. FYHXX will not invest in cryptocurrencies but in cash and U.S. securities. It currently holds 80% in securities. Fidelity made a previous SEC filing before this one to introduce Staking for the Ethereum ETF, attempting to catch up to Blackrock, which was already investing in blockchain technology. Tokenization money funds offer quicker settlement times, direct transactions, 24/7 trading, and more liquidity. Fidelity can take traditional investments like bonds, funds, and credit, place them on the blockchain, and provide better asset access. For Fidelity, Real-World Assets are tokenized using the Ethereum blockchain. FYHXX will provide shareholders with verifiable transactions on the blockchain, keeping track of shares owned, but will be backed up with a traditional method of record keeping. The blockchain, therefore, will not be the official record of shares traded but will be updated daily to reflect the off-chain official record. Further, the U.S. Treasury bills would not be tokenized directly. The dual record model, with the primary record being off-chain and the secondary record being an Ethereum blockchain, could be vital to transitioning to an on-chain primary record. Fidelity, which manages $5.8 trillion, has been lagging behind other companies regarding blockchain adoption. Blackrock runs the money market BUIDL, which holds $1.5 billion in assets. Blackrock has been the leader in asset management, with other contenders following its example. Franklin Templeton has also developed a money market using tokenized funds, with $689 million. Debanking, the phenomenon of banks refusing to finance crypto businesses, didn’t help with adopting tokenized assets. Banks often lumped cryptocurrencies and tokenized assets in the same basket, despite tokenized assets following the same rules as traditional assets. A change in attitude occurred when Blackrock created BUIDL, a tokenized asset class. Many banks prefer AI companies to blockchain-based companies, despite both having varying degrees of risk depending on the underlying business model. “There was no question”, said Robbie Mitchnick, Blackrock’s head of crypto, “that the blockchain we would start our tokenization on would be Ethereum, and that’s not just a BlackRock thing, that’s the natural default answer. Clients clearly are making choices that they do value the decentralization, they do value the credibility, and the security and that’s a great advantage that Ethereum continues to have”.
Ripple whales have been highly active in recent hours, transferring large amounts of XRP tokens between unknown wallets. In total, 267,857,140 XRP, which, at the time of writing, was approximately $572,238,240, was transferred. These large XRP whales are believed to have a connection to Ripple’s ongoing legal battle and its on-demand liquidity (ODL) sales. These massive transactions were potentially triggered by the decision of the SEC to lift the injunction against institutional sales for Ripple recently. As a result, Ripple can now proceed with its ODL business, likely contributing to the recent surge in large-scale XRP transfers. Ripple Whales Move $572 Million Whale Alert, has recently reported a flurry of XRP transfers. Four transactions were executed within a short span, and every swap was equal to 66,964,285 XRP, which amounts to about $143 million. These huge transactions have elicited quite a stir among the members of the crypto space regarding their size and the frequency. While the reason behind the transfers is still uncertain, a large volume of XRP moving to unknown wallets could be tied to Ripple’s operations. Given that these moves occurred after the SEC has decided to remove the injunction on Ripple’s institutional sales, a correlation between Ripple’s liquidity management and institutional sales has emerged. Such large movements have also attracted the attention of the market observers to think that Ripple may be gearing up for expansion of its ’on-demand liquidity’ solution. This could explain why this wave of whale is being observed today based on the firm’s capacity to continue with these institutional sales. Ripple Legal Victory and Influence on XRP Transactions Ripple’s legal situation with the U.S. Securities and Exchange Commission (SEC) has been a key factor influencing the company’s operations. Recently, as part of Ripple’s decision to drop its cross appeal against the SEC , the Commission agreed to remove the injunction that had previously restricted Ripple from conducting institutional sales of XRP. This decision paves the way for Ripple to resume its on-demand liquidity services, a core part of its business. This movement should help Ripple expand the availability of liquidity solutions and its penetration in the international markets. The absence of the injunction will allow Ripple to transact with more XRP with institutional clients, which may be fueling the whale activities. Subsequently, since Ripple’s ODL platform focuses on large XRP transactions, whales are likely to be engaged in this kind of activity as they provide liquidity. At the same time, Coinbase Derivatives has submitted new applications with the U.S. Commodity Futures Trading Commission (CFTC) to self-certify XRP futures contracts . XRP Price Trend Amid Whale Movements XRP’s recent market behavior also reflects these developments, with the cryptocurrency showing signs of strength. According to crypto analyst Casi Trades, after reclaiming the $2.05 support level, XRP price prediction has set its sights on the next key resistance level at $2.24. This level is particularly significant, as it aligns with both the macro and micro wave structures of XRP’s price movements. Experts are keeping a close eye on XRP’s price action , with some predicting that the currency could break out of its current resistance levels and potentially reach new highs. The next levels to watch include $2.70, $3.05, and eventually $3.80, which could mark a new all-time high for XRP price. The post XRP News: Ripple Whales Move $572 Million, What Is Going On? appeared first on CoinGape .
Okcoin Europe Ltd, the European subsidiary of OKX Exchange, has been fined $1.2 million (€1.05 million) by Malta’s FIAU for anti-money laundering and compliance failures in 2023. The company has since taken corrective measures to address the deficiencies flagged in the review. Okcoin Europe Fined $1.2 Million by FIAU for Compliance Failures Malta’s Financial Intelligence
In a volatile market like crypto, timing is everything—and 2025 might just be offering two golden opportunities. With Cardano (ADA) dipping to $0.50 and MAGACOINFINANCE still deep in its pre-sale phase, smart investors are eyeing this moment as one of the strongest entry points of the year. PRE-SALE SELLING OUT – CLICK HERE TO SECURE A SPOT NOW MAGACOINFINANCE – THE MOST TALKED-ABOUT PRESALE THIS YEAR Unprecedented Growth Potential MAGACOINFINANCE – MAGACOINFINANCE has already raised over $4.8 million, signaling immense demand from early-stage buyers. With a supply cap of 100 billion tokens, early entry remains limited—and with exchange listings looming, the countdown is on. LIMITED TIME OFFER-GET 50% EXTRA BONUS WITH CODE MAGA50X Apply MAGA50X and Unlock 3,782% ROI With 50% BONUS Currently priced at $0.0002704, and heading to a listing of $0.007, MAGACOINFINANCE offers a base 2,488% ROI, or 25.88x return. By using the promo code MAGA50X, buyers drop their effective price to $0.0001803—elevating ROI potential to 3,782%, or a 37.82x return. That means even a modest $500 entry could be worth nearly $189,100 if projections hold true. XRP, SOL, HBAR, and LINK: Strong Movers, But MAGACOINFINANCE Leads on Multiplier Potential XRP holds steady at $0.62, expanding its role in cross-border transfers.Solana (SOL) trades at $125.88, with growing TVL and dev activity.Hedera (HBAR) sits at $0.092, continuing enterprise and NFT integrations.Chainlink (LINK) is priced at $13.84, still essential for smart contract connectivity. CLICK HERE TO JOIN THE NEXT BIG BILLION DOLLAR PROJECT Conclusion As the cryptocurrency market continues to evolve, both established and emerging digital assets present unique opportunities. While Bitcoin (BTC), Ripple (XRP), and Solana (SOL) pursue growth strategies, MAGACOINFINANCE distinguishes itself with its innovative approach and attractive pre-sale incentives. Investors are encouraged to conduct thorough research, stay informed about market trends, and consider diversifying their portfolios to navigate this dynamic landscape effectively. For more information on MAGACOINFINANCE and to participate in the pre-sale, visit: Website: magacoinfinance.com Twitter/X: https://x.com/magacoinfinance Continue Reading: ADA at $0.50 and MAGACOINFINANCE in Presale—Is This the Perfect Entry?
Arthur Hayes emphasizes Bitcoin's support level is critical for its recovery. Market reactions hinge on economic policy changes announced by the U.S. Continue Reading: Arthur Hayes Predicts Bitcoin’s Recovery Depends on Critical Support Maintenance The post Arthur Hayes Predicts Bitcoin’s Recovery Depends on Critical Support Maintenance appeared first on COINTURK NEWS .
Critics are taking swipes at Pi Network and the PiCoreTeam after PiDaoSwap raised concerns over lengthy delays for Know Your Business (KYB) approvals. The delays have forced the hand of PiDaoSwap to roll out non-fungible tokens (NFTs) on Binance Chain as a short-term solution. Pi Network Faces Criticism for KYB Delays Decentralized exchange PiDaoSwap has expressed worry over the prolonged delays of the KYB review process on Pi Network. According to a statement on X , PiDaoSwap submitted a KYB application, but 15 days later, the PiCoreTeam (PCT) has yet to issue an approval. To build on the Pi Network, projects will need to submit a KYB application to pass the PCT’s due diligence process. An approval will give projects access to developer support, funding, and other ancillary perks for building in the Pi ecosystem. However, after over two weeks, PiDaoSwap describes the wait as an “agonizing” one. Per the statement, PiDaoSwap is unable to start full development on the Pi mainnet because of the delay. Following the delay, PiDaoSwap says it will launch NFTs on Binance Smart Chain (BSC) while it waits for approval. Binance continues to exclude Pi Network in its Vote To List initiative as it focuses on BSC projects. “We have chosen to launch community NFTs on BSC as an interim solution rather than continuing to wait idly,” said PiDaoSwap. “Only after KYB approval can we proceed with in-depth development and ecosystem building on the Pi mainnet.” PiCoreTeam Catching Backlash In Recent Weeks Thought leaders in the Pi ecosystem have been vocal in their criticism of the PCT. Dr Altcoin, an active member of the ecosystem, took swipes at the PCT over the KYB approval delays. He argues that PiDaoSwap is not an isolated incident, adding that several centralized exchanges are waiting for KYB approvals. “This is one example of a clear failure by the PCT,” said Dr Altcoin. “I also know some CEXs are on the waiting list for KYB approval.” Furthermore, Dr Altcoin theorizes that Bybit not listing Pi Network is the fault of the PiCoreTeam. Dr Altcoin disclosed that the delays in centralized exchanges result from a lack of transparency by the PCT for token locking and burning mechanisms. Pi Coin price has fallen by 15% over the last day to settle at $0.55, dousing optimism for a move to clinch $1. As investors scan the horizon for a correction, a listing by a top exchange and a string of ecosystem partnerships by the PCT can send prices to new highs. Despite the criticisms, the PCT is proceeding with its domain auction, receiving over 200,000 bids in the latest update. The post Pi Network Under Fire As PiDaoSwap Launches NFTs On Binance Chain appeared first on CoinGape .
Key takeaways : Bittensor price predictions anticipate a high of $406.10 by the end of 2025. In 2028, TAO will range between $947.57 and $1,082.94, with an average price of $1,015.26. In 2031, TAO will range between $1,624.41 and $1,759.78, with an average price of $1,692.10. Bittensor is one of the most renowned AI-facilitated decentralized networks that promotes blockchain and artificial intelligence infusion. By leveraging Proof of Learning (POL) technology, Bittensor supports user privacy while minimizing errors. The AI models within the network are reliable, flexible, and up-to-date with modern technological advancements. The AI-based Bittensor network prioritizes cross-chain integration and native token expansions to promote collaboration. TAO uses reliable authentication methods to ensure a successful transfer of nodes to correct AI models. The process is made possible through the PoL consensus method, which secures this process. Moreover, this technology helps to develop different stages of more advanced AI technology within the blockchain. Bittensor also uses its TAO token to incentivize node operators and AI developers. What’s next for Bittensor and TAO in 2025 and beyond? Let’s get into the TAO price prediction and technical analysis. Overview Cryptocurrency Bittensor Ticker TAO Current price $211.05 Market cap $1.85B Trading volume $101.32M Circulating supply 8.56M TAO All-time low $30.83 on May 14, 2023 All-time high $757.60 on Mar 07, 2024 24-hour low $219.66 24-hour high $202.17 TAO price prediction: Technical analysis Metric Value Volatility (30-day variation) 11.19% 50-day SMA $326.72 200-day SMA $396.53 Sentiment Bearish Fear and greed index 26 (Fear) Green days 14/30 (47%) Bittensor price analysis: TAO falls below $211.051 TL;DR Breakdown : Bittensor price analysis confirmed a downtrend at $211.05. Cryptocurrency lost 2.99% of its value. TAO coin prices are targeting the next resistance at $280.95. On April 4, 2025, Bittensor price analysis revealed a downward trend in the market. Coin value has dropped to $211.051 low in the last 24 hours. Overall, the cryptocurrency lost up to 2.99% of its value. The bulls sought recovery yesterday, however, today the bears remained in the lead. TAO/USD 1-day chart analysis The one-day price chart of Bittensor coin confirmed a decreasing trend for the currency. TAO/USD value has depreciated to $211.05. The red candlestick on the price chart signifies bearish activity. The distance between the Bollinger bands defines volatility. This distance is widening as volatility rises. Moreover, the upper band of the Bollinger bands indicator, acting as the resistance, has shifted to $280.9. Conversely, its lower band, serving as the support, has moved to $206.78. TAO/USD 1-day price chart The Relative Strength Index (RSI) indicator is in the oversold region. It is at 34.92 and dropping, confirming a bearish trend. The selling activities are higher than the buying activities today. This resulted in a relatively unstable market. TAO/USD 4-hour chart analysis The four-hour price analysis of the Bittensor coin confirmed an upward trend in the market. Its value spiked to $211.051 in the past four hours. The increasing volatility levels signify a higher chance of reversal. The Bollinger bands are widening, leading to an increase in volatility. This increase signals a higher market unpredictability. Moving ahead, the upper Bollinger band has shifted to $238.22, indicating the resistance. Conversely, the lower Bollinger band has moved to $200.699, securing the support. TAO/USD 4-hour price chart The RSI indicator is below the neutral region. The indicator’s value rose to index 41.47 during the day. The ascending curve on the RSI graph reflects a bullish market. If the buying activities continue to grow, the RSI will drop below the neutral area. Bittensor technical indicators: Levels and actions Daily simple moving average (SMA) Period Value ($) Action SMA 3 327.30 SELL SMA 5 306.05 SELL SMA 10 303.83 SELL SMA 21 270.39 SELL SMA 50 326.72 SELL SMA 100 387.83 SELL SMA 200 396.53 SELL Daily exponential moving average (EMA) Period Value ($) Action EMA 3 282.44 SELL EMA 5 309.17 SELL EMA 10 356.44 SELL EMA 21 410.98 SELL EMA 50 467.97 SELL EMA 100 483.26 SELL EMA 200 460.88 SELL Is Bittensor TAO a good investment? TAO coin continues to trade higher, indicating growing adoption among crypto investors. Despite this, the coin faces uncertainties and volatility like all other cryptocurrencies. Our Cryptopolitan price prediction explores its expected movements from 2025 to 2031. What can we expect from Bittensor price analysis next? Bittensor Coin price analysis gives out a relatively bearish prediction regarding the ongoing market trends. TAO/USD value has dropped down to $211.05 low in the last 24 hours. From an overall analysis, the cryptocurrency lost up to 2.99% of value today. Technical indicators give out a negative signal, side by side, the price charts continue to depict a bearish scenario as well. Why is TAO down? TAO is trading at $211.05 amidst the ongoing bearish trend, which caused a considerable descent. Bittensor devalued amidst growing seller pressure in the past week. Similarly, the coin price is moving downwards. How much is the Bittensor stock worth? Bittensor (TAO) powers the Bittensor Network and is not a stock. Stocks are usually traded on stock exchanges, and stock ownership represents a stake in a company. Buying TAO tokens gives the buyer certain rights within the Bittensor Network, for example, governance participation but not ownership in a company. However, Bittensor (TAO) tokens can be bought and traded on different exchanges, including Binance, Bitget, Coinbase, KuCoin, and Kraken. See our price analysis part for day-to-day price changes of the TAO token. What is the price prediction for BitDAO 2025? The highest Bittensor (TAO) price prediction for 2025 is around $406.10. Will Bittensor reach $1000? Yes, Bittensor should rise above $1000 in 2028 as crypto analysts, including Digitalcoinprice and Coincodex, are bullish on TAO. Its price will range between $947.57 and $1,082.94 during that period. Will Bittensor reach $2000? No, Bittensor may not rise above $2000 till 2031. Its price can go as high as $1,759.78 during that period. Will Bittensor reach $5000? Per the market analysts’ price prediction, Bittensor TAO prices are unlikely to reach $5000 before 2031. What is the total supply of Bittensor? The total supply of Bittensor (TAO) tokens is 8.54 million TAO. Does Bittensor have a good long-term future? According to most market observers, Bittensor TAO will trade higher in the coming years. However, factors like market crashes or difficult regulations could invalidate this bullish theory. Recent news/ opinions on Bittensor Taobot announced in a post that their explore page is getting a major upgrade. It will feature detailed stats on Bittensor Network with improved insights on subnets, and a new user interface for a more satisfying experience. 🛠️ Sneak Peek: Explore Page Upgrades Our explore page is getting a major upgrade—now featuring detailed Bittensor network stats, improved subnet insights, and refined UI to make your decentralized AI journey smoother than ever. Keep an eye out—update dropping soon on… pic.twitter.com/fHvBhPoZWv — tao.bot (τ, τ) (@taodotbot) April 1, 2025 Taobot tweeted about top subnets on the Bittensor network that reflect real-time market trends with better performance and network value. It is important to remember that Dynamic TAO helps in turning subnets into tradable assets. 📊 Top Subnets Since dTAO Launch—Who's Leading? Bittensor $TAO continues to evolve, with subnet tokens now reflecting real-time market sentiment and network value. After dTAO's launch, clear winners have emerged—here are the top-performing subnets so far: 1️⃣ Chutes, SN64: $58.07… pic.twitter.com/A1fHPwmZVG — tao.bot (τ, τ) (@taodotbot) March 5, 2025 Bittensor price prediction April 2025 A break of resistance will result in a mini bull run, with the next target at $453.21. This month, it will average at $243.41, and in a bearish scenario, TAO could drop to $198.97 at its lowest. Month Potential low ($) Potential average ($) Potential high ($) April 198.97 243.41 453.21 Bittensor price prediction 2025 The technical indicators are bullish on TAO in 2025. It is anticipated to trade between $270.74 and $406.10, with an average price of $338.42. Year Potential low ($) Potential average ($) Potential high ($) 2025 270.74 338.42 406.10 Bittensor price predictions 2026-2031 Year Potential low ($) Potential average ($) Potential high ($) 2026 $496.35 $564.03 $631.72 2027 $721.96 $789.65 $857.33 2028 $947.57 $1,015.26 $1,082.94 2029 $1,173.19 $1,240.87 $1,308.55 2030 $1,398.80 $1,466.48 $1,534.17 2031 $1,624.41 $1,692.10 $1,759.78 Bittensor price prediction 2026 TAO will experience more bullish momentum in 2026. According to the Bittensor forecast, it will range between $496.35 and $631.72, with an average price of $564.03. Bittensor price prediction 2027 The Bittensor price prediction climbs even higher in 2027; experts suggest the coin’s price will range between $721.96 and $857.33, with an average price of $789.65. Bittensor TAO price prediction 2028 According to the 2028 TAO price prediction, the token price will range between a minimum price of $947.57 and a maximum price of $1,082.94. The average price for the year will be $1,015.26. Bittensor price prediction 2029 Bittensor price prediction for 2029 suggests that the price of TAO will range from $1,173.19 to $1,308.55, with an average price of $1,240.87. Bittensor crypto price prediction 2030 The Bittensor price prediction for 2030 indicates the price will range between $1,398.80 and $1,534.17. The average price of TAO will be $1,466.48. Bittensor price prediction 2031 The Bittensor price forecast for 2031 is a high of the $1,759.78 range. Per the TAO coin price prediction, it will reach a minimum price of $1,624.41 and average at $1,692.10. Bittensor (TAO) price prediction 2025-2031 TAO market price prediction: Analysts TAO price forecast Platform 2025 2026 Digitalcoinprice $492.42 $579.22 Coincodex $1,108.53 $650.25 Cryptopolitan’s Bittensor (TAO) price prediction At current levels, TAO presents the potential to be bullish. According to our predictions, TAO could achieve a high of $406.10 in the second half of 2025. We expect TAO to maintain a trading range of $488.21-$622.19, with an average of $551.92 in 2026. Note the predictions are not investment advice. Seek independent professional consultation or do your research. Bittensor (TAO) historic price sentiment TAO price history The TAO token was launched by the Bittensor network on March 6, 2023, with an opening price of $93.4. Within one week of its launch, TAO dipped below its opening price to the $76 range, decreasing its market capitalization. By the start of April 2024, TAO lost 50% of its value as its price stepped down to $47. In May, TAO stepped further down to $30.83 (the lowest value) but started to recover slowly, reaching only $63 by the end of the month. In July 2024, TAO recovered up to $86.18, just shy of its opening price, before dipping again. TAO traded in the nearly $54 range till October, after which it started to spike. Finally, in November 2023, TAO reached the $95 range and peaked at $379 on December 15. TAO remained in a downtrend till mid-January 2024 before spiking to an all-time high of $757.60 on March 7, 2024, its highest price paid. By April 2024, Bittensor TAO lost almost 25% of its value again by dipping to $522. For May, June, and July, the token continued covering a range downward while making small spikes in between, reaching $216 at the start of July. TAO jumped to $357 on July 19, while slipping back to $281 by the end of August 2024. While the coin traded near the $265 range at the start of September. In October 2024, Bittensor (TAO) rose to the $660 range before closing at $468. In November, TAO rose to a high of $679, but it closed the year at the $440.69 mark on December 31, 2024. TAO opened 2025 at $439.73, peaked at $565 in January, and its price decreased to the $324 level in February. In March, TAO dipped to the $259 mark and descended further to $228 in April.
The U.S. Securities and Exchange Commission has released new commentary on stablecoins, with the agency’s Division of Corporation Finance noting that this is part of the effort to provide further regulatory clarity. SEC said in a news release that the guidance aligns with its objective of providing clarity regarding federal securities laws as related to crypto assets. In this case, the agency has zeroed in on a type of stablecoins it now calls “Covered Stablecoins.” According to the regulator “Covered Stablecoins” means those stablecoins that maintain a stable value relative to the U.S. dollar, on a 1:1 basis and are redeemable for USD on a 1:1 basis. This type of USD-pegged stablecoin, per the SEC’s Division of Corporation Finance, has low-risk and readily liquid assets as reserves. Assets backing the stablecoins also have a USD-value that meets or surpasses the given token’s redemption value of all coins in circulation. Notably, the statement excludes other types of stablecoins such as algorithmic and yield-bearing stablecoins. The division’s statement doesn’t also cover those stablecoins pegged on the value of other assets and not the United States Dollar. The two leading stablecoins pegged to the USD are Tether ( USDT ) and USDC ( USDC ). You might also like: Coinbase CEO calls for US to allow interest on stablecoins With this description in place, the SEC says the sale or offer of the so-called “Covered Stablecoins” does not constitute an investment contract. “It is the Division’s view that the offer and sale of Covered Stablecoins, in the manner and under the circumstances described in this statement, do not involve the offer and sale of securities within the meaning of Section 2(a)(1) of the Securities Act of 1933,” the division wrote. Now that the division says such stablecoins do not fall within the SEC’s purview, the objective of its statement was to clarify important considerations and implications for issuers. The key details in the statement are that issuers use sale proceeds to fund the covered stablecoins reserves. Meanwhile, buyers do not have any expectation of returns on the funds they hold and Covered Stablecoins do not encourage speculative trading or for investment. “Accordingly, persons involved in the process of “minting” (or creating) and redeeming Covered Stablecoins do not need to register those transactions with the Commission under the Securities Act or fall within one of the Securities Act’s exemptions from registration,” the agency noted. You might also like: STABLE Act targeting stablecoins advances with House Committee approval