BiT Küresel, issuer of the "wrapped bitcoin" token, "refused" to answer Coinbase's questions about Sun's involvement, the exchange said in a court filing.
The crypto company behind USDT, the largest stablecoin, decided to shutter its own euro-pegged stablecoin and back smaller issuers that comply with the EU's MiCA regulations.
Open interest in the token’s future products nearly doubled to over $60 million, showing a bump in expectations of further volatility with a bullish bias.
Asset manager Bitwise sees the stablecoin market growing to $400 billion next year, with U.S. legislation, fintech adoption and küresel payments driving the growth.