Bank for International Settlements: Stablecoin Rapid Growth Will Bring Regulatory Risks

On July 12th, based on market data, the U.S. stock market closed on Friday. The Dow initially dropped by 0.63%, the Nasdaq fell by 0.22%, and the S&P 500 declined by 0.33%. The prices of cryptocurrency stocks showed a mixed trend, including: MicroStrategy (MSTR) increased by 3.04% with a trading volume of $7.977 billion; MARA Holdings (MARA) rose by 0.74% with a trading volume of $1.066 billion; BTCS (BTCS) went up by 5.59% with a trading volume of $62.9397 million; Bit Digital (BTBT) decreased by 4.03% with a trading volume of $161 million; SharpLink Gaming (SBET) rose by 17.15% with a trading volume of $1.154 billion; Bitmine Immersion (BMNR) fell by 11.71% with a trading volume of $416 million.

On July 12th, according to the monitoring of on-chain analyst Ai Yi (@ai_9684xtpa), the Smart Money address starting with 0x5f6 liquidated 141.77 WBTC that was purchased for $104,478 one month ago, realizing a profit of $1,822,000. In the past 11 hours, the address sold all the WBTC at an average price of $117,334, achieving a one-month return rate of 12.3%.

On July 12th, the official OpenSea X account "simulated" the official Twitter account of Coinbase. It changed its avatar to an image themed with a "Fat Penguin" and captioned it "New avatar, who doesn't like it?". Previously reported by BlockBeats, earlier today, Coinbase changed its X account avatar to an image themed with a "Fat Penguin" and captioned it "New avatar, who doesn't like it?". BlockBeats Note: The avatars of both parties are only "fan-created" images associated with their own brand images and are not part of the "Fat Penguin" NFT series.

On July 12th, according to the @pandajackson42 data dashboard, the transaction volume of Binance's Alpha on July 11th was $424 million, still remaining at a relatively low level. Among them, the transaction volume of BR was $194 million, the transaction volume of KOGE was $103 million, and the transaction volume of quq, which reached $18.47 million, ranked at the forefront.

On July 12th, according to on-chain analyst Ai Auntie (@ai_9684xtpa), in the past 16 hours, it is reported that the 1inch team made another purchase of 11.81 million 1INCH tokens, which is worth $3.3 million at a price of $0.28 per token. Currently, the address holds a total of 83.97 million 1INCH tokens, with a value of $23.72 million.

On July 12th, according to "Fortune" which cited sources with knowledge of the matter, the cryptocurrency and stablecoin infrastructure startup Zerohash is scheduled to complete a funding round of approximately $100 million, and its valuation is close to $1 billion. The online brokerage firm Interactive Brokers takes the lead in this funding round. It is reported that Zerohash provides backend infrastructure support for banks, brokerages, and fintech companies in terms of digital assets such as cryptocurrencies and NFTs, and has grown to become a key player in the stablecoin field. Its core operations involve partnering with Stripe to facilitate fiat-to-stablecoin exchanges through a network of banking relationships and regulatory licenses. It has assisted traditional financial institutions like BlackRock and Franklin Templeton in participating in tokenization initiatives and has provided stablecoin exchange services to clients such as the prediction market Kalshi and the digital bank