According to Cointelegraph, U.S. Federal Reserve Governor Christopher Waller has reassured both his colleagues and the private banking sector that there is no reason to fear crypto payments, despite their operation outside the traditional banking framework. Speaking at the Wyoming Blockchain Symposium 2025, Waller emphasized that decentralized finance (DeFi) represents merely a new technological method for transferring assets and recording transactions. He urged policymakers and the banking industry to collaborate on developing crypto payment infrastructure, highlighting that the use of smart contracts, tokenization, and distributed ledgers in daily transactions should not be intimidating. Waller's remarks signal the Federal Reserve's gradual shift towards embracing cryptocurrency and its potential role in the U.S. payment system. In a significant move, the Fed recently withdrew its 2022 guidance that discouraged banks from engaging in crypto and stablecoin activities. Additionally, the Fed has concluded its risk-focused "novel activities supervision program" that monitored crypto-related activities. Fed Vice Chair for Supervision Michelle Bowman also suggested that staff should be permitted to hold small amounts of cryptocurrency to gain a better understanding of the technology. Waller, who is seen as a leading candidate to succeed Jerome Powell as Fed Chair, could soon have more influence in shaping the Fed's approach to cryptocurrency. Powell's term is set to end in May 2026, and his continuation depends on renomination by U.S. President Donald Trump and Senate confirmation. However, reports indicate that Trump has been pressuring Powell to step down. Waller likened DeFi transactions to everyday debit card purchases, explaining that using stablecoins to buy a memecoin is akin to using a debit card to purchase an apple at a grocery store. He described the process as straightforward: using a digital dollar from a checking account to pay, tapping a debit card on a reader, and receiving a transaction receipt. In the crypto world, this translates to buying a memecoin with a stablecoin, executing the transaction via a smart contract, and recording it on a distributed ledger. The recent enactment of the Guiding and Establishing National Innovation for US Stablecoins Act is seen by Waller as a crucial step towards stablecoin adoption. He believes this legislation could enable stablecoins to achieve their full potential, aiding in maintaining and expanding the dollar's international role, particularly in high-inflation countries or those with limited access to physical dollars. The stablecoin market, currently valued at $280 billion, is projected by the U.S. Treasury to reach $2 trillion by 2028, driven by a regulatory framework that could boost demand for U.S. Treasury bills. Tether (USDT) and Circle’s USDC (USDC) are the dominant players in the stablecoin sector, with market caps of $167 billion and $67.5 billion, respectively, according to CoinGecko data.

According to PANews, the Wormhole Foundation has raised concerns over LayerZero's proposal to acquire Stargate (STG) for approximately $110 million in ZRO tokens. The foundation believes this offer undervalues Stargate's assets and growth potential. In July, Stargate's bridging volume reached $4 billion, marking a tenfold increase from the previous year, with a total value locked (TVL) of $345 million and an annual revenue projection of $2 million. In response, Wormhole plans to submit a higher bid and has requested a five-day suspension of the current Snapshot voting process. This pause aims to refine the bidding procedure and ensure the interests of STG holders are protected.

Federal Reserve Governor Christopher Waller urged policymakers and bankers to stop fearing DeFi and stablecoins, saying they will drive the next wave of innovation in the US payments system. source: https://cointelegraph.com/news/fed-governor-tells-peers-defi-isnt-scary?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

According to BlockBeats, Farside Investors reported that Fidelity's Ethereum fund experienced a net inflow of $8.6 million, while its Bitcoin fund saw a net outflow of $7.5 million. This shift in investment patterns highlights changing investor preferences in the cryptocurrency market.

Kraken and Backed Finance have expanded xStocks to the TRON blockchain, enabling global access to tokenized US equities. source: https://www.cryptopolitan.com/tron-unlocks-tokenized-us-stocks/

Federal Reserve Governor Stephen Waller, a leading candidate for the next Federal Reserve Chair, called for embracing a "technology-driven revolution" in artificial intelligence and stablecoins. He also revealed that the Fed is researching a new round of technological innovations, including tokenization, smart contracts, and AI-powered payments.

Federal Reserve's July meeting reveals focus on stablecoin regulation following GENIUS Act's passage. source: https://coincu.com/356321-federal-reserve-stablecoin-regulation-genius-act

According to Foresight News, Atlanta Federal Reserve Chair Raphael Bostic has stated that the cryptocurrency market is currently too small to pose a threat to financial stability. Bostic's remarks highlight the limited influence of digital currencies on the broader financial system, suggesting that their scale does not warrant significant concern at this time.

Google’s new devices, shipping this month, claim to do a lot of what “Apple Intelligence” promised to do last year, but so far hasn’t. source: https://decrypt.co/336156/google-pixel-10-lineup-ai-features-new-watch-earbuds

While the token still shows a 113% return over the past three months, recent on-chain and technical signals point to […] The post Pengu Price Faces Harsh Reality – Whale Exit Triggers Panic appeared first on Coindoo. source: https://coindoo.com/pengu-price-faces-harsh-reality-whale-exit-triggers-panic/

Palantir just got dragged through six painful days on Wall Street, losing $73 billion in market value and giving short sellers a rare payday after months of losses. This losing streak, which started after the stock hit a record high on August 12, marks the company’s worst run since April 2024. Shares are now down […] source: https://www.cryptopolitan.com/palantirs-six-session-slump-erases-73b/

Golden Finance has launched the 2792nd issue of "Golden Morning 8", a morning newspaper for the cryptocurrency and blockchain industry, to provide you with the latest and fastest digital currency and blockchain industry news.

Stablecoins, which once stood still, are now experiencing new life.

Golden Finance has launched the "Golden Web3.0 Daily" to provide you with the latest and fastest MEME, DeFi, DAO, NFT and metaverse industry news.

In the field of digital finance, Web3 is seen as a new generation of disruptive Internet infrastructure.

If we measure success by speculation, we'll build castles of sand. If we measure success by infrastructure, we'll lay foundation stones.

Recommended reading tonight: 1. Google invests $132 million in crypto mining: Why did it choose TeraWulf? 2. Interest rate cut expectations, DAT speculation, and market indicators: When will the bull market top? 3. BTC will remain the world's best-performing asset over the next 10 years.

Is the crypto market a healthy correction or a sign of recession? What's the outlook for the crypto market? Golden Finance reports that the downward trend seems to be unstoppable.

OpenAI is planning a secondary share sale that could see employees cashing out around $6 billion, potentially valuing the company at $500 billion. The move comes as revenue surges from ChatGPT growth and the firm expands with new funding, acquisitions, and AI development.

Shein’s high-stakes push for a public listing has taken a new twist. The fast-fashion giant is reportedly considering shifting its corporate base back to China from Singapore in a bid to win Beijing’s approval for a Hong Kong initial public offering (IPO), according to Bloomberg.