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In a recent filing for a spot Bitcoin ETF, BlackRock, the world’s largest asset manager, has highlighted the indirect risks posed by stable coins, emphasizing the nuanced complexities of the crypto market. BlackRock, the world’s largest asset manager, has made headlines with its application for a spot Bitcoin Exchange-Traded Fund (ETF). The application, keenly awaited by the digital asset sector, includes a notable mention of stablecoins as a risk factor, an aspect that has drawn considerable attention. JUST IN: BlackRock says USDT & USDC stable coins pose risks to #Bitcoin. — Watcher.Guru (@WatcherGuru) November 14, 2023 You might also like: BlackRock prepares to file spot Ether ETF Stablecoins, digital currencies like Tether USD (USDT) and Circle USD (USDC), are designed to maintain a stable value as they are pegged to traditional currencies. In its filing, BlackRock highlights that while the ETF does not directly invest in stablecoins, there ex...

A new stablecoin called USDV launched Tuesday, backed by tokenized U.S. Treasuries in an effort to provide transparency and stability. According to an announcement shared with crypto.news, USDV is pegged to the U.S. dollar and underpinned by short-term treasury bills converted into digital tokens using blockchain technology. The tokens were created by Matrixport, a cryptocurrency financial services company. Stablecoins are digital currencies designed to have a stable value and maintain it either by being attached to an asset like the U.S. dollar or complex tokenomics. They have grown in popularity recently but also drawn more scrutiny from regulators concerned about transparency and potential runs. USDV attempts to address those concerns by allegedly allowing holders to verify the Treasuries backing the coin in real time. The smart contracts governing USDV have undergone third-party security audits, according to the nonprofit Verified USD Foundation which launched the coin. ...