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The cryptocurrency market has experienced a mix of developments, with Bitcoin’s recovery stalling after the Federal Reserve held interest rates, citing ‘uncertainty’ in the Middle East. Meanwhile, Tether has proposed a three-way merger with Jack Mallers’ Twenty One Capital, and RealOpen and TRON have verified $9.4M in USDT for crypto-enabled real estate purchases. Additionally, tech giants such as Meta have started paying some creators in stablecoin, and JPMorgan has hired a new crypto head who believes tokenization is only half the battle. These events have contributed to a complex and evolving landscape for major coins like Bitcoin, Ethereum, and USDT.

Markets

The Bitcoin recovery has stalled after the Federal Reserve’s decision to hold interest rates, with the cryptocurrency’s price sliding toward $75,000. Other major coins like Ethereum, Solana, and XRP have also dropped, with Ethereum down 3.4% and XRP experiencing a decline. The 30-year Treasury yield has hit 5%, which may have a negative impact on Bitcoin’s price. Furthermore, the price of oil has surged to a four-year high, which has contributed to the sell-off in the crypto market. CoinDesk reports on the market trends, while CoinTelegraph covers the impact of the token unlock vote on WLFI.

Regulation and Adoption

US Senator Tillis is pushing for a Senate Banking vote on a stalled crypto bill, which could have significant implications for the regulation of cryptocurrencies. Meanwhile, tech giants like Meta are embracing stablecoins, with the company starting to pay some creators in USDC. JPMorgan’s new crypto head, Oliver Harris, has expressed his views on tokenization, stating that it is only half the battle. CoinDesk reports on Meta’s stablecoin payouts, while CoinTelegraph covers the developments in crypto regulation.

Mergers and Partnerships

Tether has proposed a three-way merger with Jack Mallers’ Twenty One Capital, which could combine bitcoin treasury, mining, and financial services under one roof. RealOpen and TRON have verified $9.4M in USDT for crypto-enabled real estate purchases, demonstrating the growing use of stablecoins in various industries. Stable Sea has integrated WisdomTree’s tokenized Treasury fund for cash management, further expanding the use of tokenized assets. CoinDesk reports on the proposed merger, while CoinTelegraph covers the verification of USDT for real estate purchases.

Sources: CoinDesk, CoinTelegraph

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