The U.S. Treasury is preparing a report on stablecoins and the potential risks that they pose to the greater financial system.
Standard and Poor (S&P), an American credit rating agency, believes that El Salvador could potentially harm its credit rating after the enactment of a law that recognizes Bitcoin (BTC) as legal tender - the law came into effect nationwide on the 7th of September.
Avalanche, a proof-of-stake blockchain, has raised $230 million in a sale of its native token $AVAX to institutional investors. The capital will be used to help bolster and boost DeFi activity on the platform, support new enterprise tools, as well as facilitate grants for projects wanting to build on Avalanche.
Top stories in the Crypto Roundup today:
- The U.S. Treasury Is Preparing A Report On Stablecoins
- S&P Warns El Salvador Bitcoin Adoption Could Harm Credit Rating
- Avalanche Raises $230m Led By Polychain & Three Arrows Capital