Invesco’s move is another sign of asset managers increasingly chasing a new business opportunity created by stablecoins. These cryptocurrencies are designed to maintain a fixed value, typically tied to one U.S. dollar, and are backed by reserve assets such as cash and short-term Treasuries. As… Read More
Strategy’s perpetual preferred security, Stretch (STRC), fell as low as $97.11 on Thursday as bitcoin BTC$73,565.90 slipped to the $73,000 mark. STRC tends to face selling pressure during bitcoin drawdowns and in the days immediately following its ex-dividend date, as seen on Nov. 20 and… Read More
Investment banking giant Morgan Stanley has made a quiet by significant move into stablecoins, expanding its footprint in the digital assets industry. The firm’s investment management arm, MSIM, has announced the launch of the Stablecoin Reserves Portfolio – a government money market fund designed for… Read More
The effort is starting small, but Texas made an opening foray into a state-based crypto reserve — getting closer to the first government stockpile in the U.S.
