A consortium of financial technology and cryptocurrency companies including Robinhood, Kraken and Galaxy Digital on Monday introduced a joint stablecoin pegged to the U.S. dollar. The aim of the newly formed Global Dollar Network is to accelerate usage of stablecoins worldwide and promote an asset that provides proportionate economic benefits to its partners, the companies said. As cryptocurrencies like bitcoin …
Binance founder and soon-to-be-ex Chief Executive Changpeng “CZ” Zhao, right, leaves federal court in Seattle after pleading guilty to violations of U.S. money laundering laws. — Treasury Secretary Janet Yellen The SEC alleges that Kraken has been operating simultaneously as a crypto “broker, dealer, exchange, and clearing agency,” which present potential conflicts of interest that work against customers’ interests. Nine …
