Western Union Debuts USDPT Stablecoin on Solana

Gold, Asian stocks, and cryptocurrencies like Bitcoin, Ether, XRP, Tron, BNB, Solana, and Dogecoin experienced fluctuations in prices due to geopolitical tensions and market conditions. The market is reacting to factors such as inflation fears and the impact of the ongoing conflict on oil prices.

Stablecoin balances in South Korea have significantly decreased since July, with a 55% drop in holdings across major crypto exchanges. The outflows were triggered by the weakening won against the dollar, leading traders to convert into domestic assets.

Bitcoin has experienced a slight decline over the past week, with a 6% drop, while U.S. stocks have fallen for four consecutive weeks due to the Iran conflict. Despite this, the crypto market is showing signs of resilience and institutional strength.

Phong Le predicts Morgan Stanley's proposed bitcoin ETF could generate $160 billion in demand with a 2% allocation. The bank's filing for the MSBT ETF includes key service providers like BNY Mellon and Coinbase.

Hyperliquid's S&P 500 perpetual market reached over $100 million in 24-hour volume, becoming one of the top 10 markets on the blockchain. Traders are increasingly using blockchain platforms for after-hours and weekend trading, indicating a shift towards true price discovery.

Eightco Holdings has increased its investment in OpenAI by $40 million, totaling $90 million, representing 30% of its treasury. The firm also holds 11,068 ETH valued at $23.6 million and $76 million in cash and stablecoins, with a significant position in Worldcoin.

Gemini is facing a class action lawsuit for allegedly failing to disclose its pivot into prediction markets and overstating the viability of its core business. Shareholders claim the company misled investors before going public and withheld information about an upcoming restructuring.

Bank of America economists raised the prospect of a policy move in the opposite direction of President Trump's pressure on the Federal Reserve to lower interest rates. They outlined conditions under which the Fed might consider tighter monetary policy, such as surging energy costs and prolonged conflict in the Middle East.

Hundreds of employees have been laid off by crypto firms this year, with many attributing the cuts to artificial intelligence. Some companies may be using AI as a cover for routine headcount reductions, as firms like Crypto.com and Gemini reduce their workforces.

Afroman's crypto token, $FRO, surged 4,685% following his defamation lawsuit victory against Ohio police. The lawsuit stemmed from a 2022 raid on his home, inspiring Afroman to create music videos mocking the officers involved.