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U.S. stocks soared Wednesday as the risk of Google’s bankruptcy prompted a pause in thinking as the Federal Reserve waited for further clues to a possible “soft landing.”The Nasdaq Composite Index (^IXIC) pared previous losses to rise about 0.1%, and the S&P 500 (^GSPC) rose about 0.2%. The Dow Jones Industrial Average (^DJI) rose about 0.4%, or more than 150 points.Stocks soared this week amid heated debate over economic conditions now that the Federal Reserve has finally eased policy. The decision to cut rates by as much as 50 basis points has heightened concerns that the market may not be…

Hong Kong-based IDA will integrate the HKDA stablecoin with Chainlink to facilitate secure cross-chain operations. To improve cross-chain operability and protect assets, IDA Finance incorporates Chainlink’s Proof of Reserves and CCIP products. Hong Kong-based digital asset issuer IDA Finance said it has adopted Chainlink’s blockchain services to develop the HKDA stablecoin that backs the Hong Kong dollar. As stated in an October 9th press release, the aim of this move is to enhance transparency and protect cross-chain transactions of fiat-backed stablecoins. The partnership hinges on the integration of Chainlink’s Proof-of-Reserves (PoR) system, which provides on-chain asset verification for the HKDA…

IDA Finance is integrating Chainlink’s Proof-of-Reserve (PoR) and Cross-Chain Interoperability Protocol (CCIP) into the HKDA stablecoin for enhanced transparency and security. Chainlink’s CCIP has emerged as a standard solution for Web3 projects, with an average of $900,000 worth of tokens being sent cross-chain every day. Hong Kong-based digital asset issuer IDA Finance has announced that it will integrate Chainlink’s blockchain services into its upcoming HDKA stablecoin backed by the Hong Kong dollar. The latest news release today, October 9, states that the move aims to improve transparency while ensuring cross-chain operation of fiat-backed stablecoins. One of the main reasons behind…

A popular crypto trader believes one of Dogecoin’s (DOGE) rivals could be headed for a breakout soon. A pseudonymous analyst known as Altcoin Sherpa told his 224,000 followers on social media platform , said the price could soar toward $3.50. Despite the potential for a breakout, Altcoin Sherpa says he won’t buy WIF at its current levels. Source: Altcoin Sherpa/X At the time of writing, WIF is trading at $2.47. The 42nd-ranked cryptocurrency by market capitalization has fallen more than 7.6% in the past 24 hours. The analyst also believes meme coin POPCAT could witness a short-term price surge. “I…

Jeff Kendrick, head of digital asset research at Standard Chartered, believes Solana’s stock price will soar fivefold if Donald Trump wins the US presidential election in November. In a recent interview, Kendrick predicted the prices of major crypto assets such as Bitcoin, Ethereum, and Solana. He particularly highlighted Solana’s performance and cited factors that could cause its price to rise by 500% by the end of next year. Kendrick said the U.S. presidential election, among other factors, will largely determine Solana’s price in the coming months. Market analysts gave different predictions for the price of the fifth-largest cryptocurrency if Donald…

Growing interest in digital assets and alternative financial solutions is playing a key role in the expansion and innovation of Labuan’s financial sector. Labuan International Business Finance Center (Labuan IBFC) has experienced significant development in digital financial services, reflecting the increased acceptance of blockchain technology and digital assets. This surge comes despite global economic challenges posed by high inflation, liquidity constraints and geopolitical risks. Blockchain technology to facilitate financial transactions Labuan IBFC Chairman Datuk Iskandar Mohd Nuri emphasized the importance of blockchain in strengthening financial operations. He suggested that the introduction of blockchain technology could simplify cross-border transactions and provide…

XBO.com, a cryptocurrency exchange platform, has entered into a strategic partnership with Muinmos, a pioneer in automated compliance solutions. The partnership will significantly upgrade XBO.com’s KYC processes, risk management strategies, and user onboarding speed and security.The partnership between XBO.com and Muinmos is driven by the need to strengthen XBO.com’s security framework and compliance capabilities. As the cryptocurrency market continues to grow, maintaining trust and complying with international and local regulatory standards becomes increasingly important.XBO.com operates as a cryptocurrency exchange designed to provide a secure and user-friendly service to its clients by integrating advanced technology into its operations. Similarly, Muinmos specializes…

The trading value of stablecoins on Brazil’s local exchanges has surged far more than Bitcoin, reflecting a surge in usage for B2B cross-border payments. The Brazilian stablecoin market is booming, with Latin America the second fastest-growing region with year-on-year growth of more than 42%, according to data from blockchain analytics firm Chainalysis. From July 2023 to June 2024, Brazil received about $90.3 billion in cryptocurrencies, trailing only Argentina by a narrow margin, according to data from the New York-based company. While Bitcoin (BTC) remains popular, stablecoins have emerged as the preferred option on local exchanges, driven by demand for exposure…

Cover image (via www.freepik.com) Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. Financial and market information provided on U.Today is for informational purposes only. U.Today is not responsible for any financial losses incurred while trading cryptocurrencies. Please contact a financial professional and conduct your own research before making any investment decisions. Although we believe all content is accurate as of the date of publication, certain offers mentioned may not be currently available. The popular meme cryptocurrency Dogecoin (DOGE) faces a new stress test in its growth trajectory. Whether the memecoin…

Paxos International Announces Launch of Lift Dollar (USDL) to Arbitrum, Delivering Secure Yield and Cost-Effective Fast Trading for Robust Gaming, Social, and DeFi Ecosystems Abu Dhabi, United Arab Emirates – October 9, 2024 – Paxos International, the UAE-based affiliate of Paxos, today announced that Lift Dollar (USDL), a high-yield stablecoin issued by a regulated entity, will be released on Arbitrum. announced that it is now available. Extending USDL to Arbitrum enables cost-effective and fast transactions within a robust gaming, social, and DeFi ecosystem. Lift Dollar (USDL) is a regulated, USD-backed stablecoin that distributes yield from cash and cash equivalent reserves…