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The Shiny New Toy on the Blockchain Playground

Behold, the digital domain introduces its valiant noble steed: the dollar-based stablecoin! Sudhakaran points to the props of growing acceptance, claiming they may indeed disrupt the illustrious ACM project. After all, “institutions have already adopted stablecoins for the very cross-border shenanigans that PAPSS hopes to master.” And let’s not forget, stablecoins boast the charm of dollar stability with the finesse of those speedy digital assets—minus the pesky currency-crisis theatrics that plague African currency pairs. 🎉

Although the AU desires to gallivant forward with PAPSS, Sudhakaran asserts that “digital assets and stablecoins provide a more vibrant avenue to realizing these festive aspirations.” Not to mention, it opens the gates for platforms like VALR to strut confidently into the spotlight. 🌅

As the conversation meanders, Sudhakaran reflects on Arthur Hayes’ recent declarations that a staggering one-third of Nigeria’s GDP now seemingly flows through USDT—quite a spectacle, no? While some skeptics squint disbelievingly, he boldly asserts that conditions fostering stablecoins’ adoption in Nigeria highlight a palpable trend! Ah, Africa, the grand beneficiary basking in the glow of dollar-based stablecoins! 💵✨

“The evidence speaks for itself; stablecoins now contribute to 40% of VALR’s magnificent transaction volumes. And lo! VALR finds itself celebrated among the global top minters of the stablecoin USDC—a dazzling feat that underscores broader patterns of African enthusiasm,” he relays, channeling the excitement. 📈

Interest in stablecoins is rivaled only by the allure of cryptocurrencies, luring global exchanges towards the continent like moths to a flame. Yet, in a curious twist, these exchanges often exhibit a lack of willingness to establish a thriving presence—perhaps a fear of facing 54 separate nations, each a final boss in its own right, with their quagmired financial systems and regulatory enigmas. 🎮

“They’re wise to tread lightly—after all, traversing through these labyrinthine corridors calls for deep pockets and expertise,” Sudhakaran imparts sagely. 🌍

He further illuminates the complexities fledging crypto businesses face in Africa—a jigsaw puzzle of regulations. Beyond mere legislation, one must unravel the intricate tapestry of local payment systems, compliance requirements, and ever-shifting market dynamics.

“Many outsiders fail to grasp that for many Africans, crypto isn’t just a financial dalliance; it’s born out of necessity—remittances, hedging against inflation, and clinging to stability! This profound difference cultivates a dedicated user base that draws upon crypto not for mere speculation, but for surging financial needs,” he suggests, adding some sophistication to the banter. 🌱

Thus, Sudhakaran champions a partnership approach for global exchanges eager to navigate African waters—the key lies in collaboration with well-established local exchanges.

“Why walk the daunting tightrope alone?” The rallying cry rings out. “Let us welcome global crypto adventurers to VALR! We’ve already done the heavy lifting, so join us in access and integration to this vibrant customer landscape. The stage has been set for collaboration!” he proclaims with fervor. 🎤✨

This development coincides with a significant rally in ETH. The altcoin recently broke the $3,600 mark, reflecting a 21.2% increase over the past week. This surge outpaces Bitcoin’s (BTC) modest 2.96% gain in the same period, highlighting growing institutional appetite for ETH. 🚀📈

“Alas! Millions were on the table, and yet here I am, drowning in tears! Woe is me, for I have severed ties with the very XRP army I once commanded!” lamented Portnoy, in a melodramatic video posted amidst the chaos of social media. 😂

Ethereum, in a display of strength that would make the strongest man weep, has risen above the $3,220 zone, outshining even the mighty Bitcoin. The price, with the grace of a dancer, moved past the $3,350 resistance, a move that would have made the most skeptical of traders reconsider their stance.

But wait, there’s more! Reports whisper of a grand plan involving a CAD $900 million shelf prospectus—whatever that means! It’s like saying they’ve got a treasure map leading to a hidden stash of up to 6,000 BTC by 2027. Short-term goals meet long-term dreams, like chocolate meeting peanut butter in a delightful dance! 🍫🥜

On the date that one can only imagine gracing the annals of history—July 17—the esteemed Chairman of the U.S. Securities and Exchange Commission, Paul Atkins, announced with considerable gravitas that three cryptocurrency bills, like reluctant yet blissful reluctant dancers, had been twirled through the House of Representatives. He called this movement a pivotal pivot, a veritable pirouette in the dance of digital finance regulation, all in the name of sweet stablecoin integration.

In a plot twist straight out of a crypto thriller, three wallets linked to Korean exchanges Bithumb and Upbit have been on a buying spree. They’ve gobbled up a staggering 945 million PENGU in just one week, to the tune of $32 million. Now they hold a total of 2.92 billion PENGU, valued at nearly $97 million. This isn’t just your run-of-the-mill retail trading; we’re talking about some serious players getting in on the action. A vote of confidence? More like a shout from the rooftops!

So, here’s the deal: Nasdaq-listed Bit Origin, the company that’s probably gotten a few emails asking if they want to “buy Dogecoin at a discount,” announced plans on July 17 to launch a $500 million Dogecoin ( DOGE) treasury strategy. The company’s gotten cozy with accredited investors who are more than willing to fund this high-stakes gamble with $400 million in Class A ordinary shares and a cool $100 million in convertible debt. So, if you’re wondering what “conservative investing” looks like, this might not be it.

The numbers, much like the fervent declarations of our elected officials, are a testament to the unwavering dedication to progress: the Clarity Act, 294 to 134, with a veritable phalanx of 78 Democrats standing shoulder to shoulder with their Republican brethren; the GENIUS Act, a staggering 308 to 122, with 102 Democrats joining the fray; and the Anti-CBDC Act, a nail-biting 219 to 210, with a pair of intrepid Democrats breaking ranks to join the crypto crusade.

The crypto market saw over $337 million in liquidations, according to CoinGlass, but XRP stood out with a liquidation footprint of $415,610 in the last hour.